Thoughts on Reddit coins?

[cryptoaddictchie]

With social media such as Reddit and Twitter gradually introducing their userbase to crypto the next hype trend could be SocialFi coins, do you suggest investing on those coins or too risky?

Not sure though they got some redditcoins on their platform but that isnt totally used for trading or more like a social tokens. Maybe it will benefit users who are active there and mostly like to make content that can be seen by other peoples or read on. I have a reddit account and got some karma points but not really into that so Im not sure if that tokens would be useful for me.

[libert19]

Social media tokens do not make sense, unless they prevent you from writing comments on reddit without paying reddit coin first, then it is not going to be used a lot.

I don't think so, such implementation will do more harm than any good. Especially since Reddit has been free for all since it's inception. If some project does social media like thing based on token from the start, it would probably work like Steemit, Hive but then again, here too there is no price for writing comments and for doing similar stuff. You just get more power in ecosystem if you hold significant amounts of their native coins.

[GreatArkansas]

Cryptocurrency coin for Reddit? I don't think so. Reddit doesn't need it at all or even any social media platform.
I am already good about integrating to their platform cryptocurrency like can send any cryptocurrency especially Bitcoin from their platform, some feature like tip that uses cryptocurrency is already good for me, no need to create their own coin.

[Godday]

With social media such as Reddit and Twitter gradually introducing their userbase to crypto the next hype trend could be SocialFi coins, do you suggest investing on those coins or too risky?

I don't use Reddit and it seems like Reddit is banned in some countries. But if the concept is a social media based token, I'm thinking about investing a few dollars there. But it's very risky. The problem is what is the function of the Reddit Token? Can it give a high status account or is it like an in-app purchase? There are many problems that must be resolved first.

As far as I remember, Facebook once wanted to create their token, namely Libra, which functioned as a means of exchange. But for some reason now I no longer hear that news from them.

[Husires]

With social media such as Reddit and Twitter gradually introducing their userbase to crypto the next hype trend could be SocialFi coins, do you suggest investing on those coins or too risky?

They are scamming you. If social media platforms decide to launch a cryptocurrency, it will not be decentralized like Bitcoin, and they will need a license, as Facebook was trying with its Libra currency, and this news will be known to everyone, and it will not be on the Ethereum blockchain or any tokens.
If you find any currency claiming to be the cryptocurrency of a famous company, report them

[Apocollapse]

Did you refer to this shitcoin called Redditcoin.tech? you need to read bottom of their site where they mention they have no relation with reddit, so this is just a scam coin that want to gain traffic through using reddit name, as we know reddit is the biggest forum.

We don’t have any connection or affiliation with the following website or company  https://www.reddit.com/

Even reddit officially announce their coin, I will not buy it because the price is 100% depend on the site popularity.

[Silberman]

Did you refer to this shitcoin called Redditcoin.tech? you need to read bottom of their site where they mention they have no relation with reddit, so this is just a scam coin that want to gain traffic through using reddit name, as we know reddit is the biggest forum.

We don’t have any connection or affiliation with the following website or company  https://www.reddit.com/

Even reddit officially announce their coin, I will not buy it because the price is 100% depend on the site popularity.

It does not get any clearer than that, I mean if the shitcoin in which you want to invest which is literally using the name of another company literally states on their website they have nothing to do with it, then it is obvious they are trying to use their name to garner the attention of the community and get investors this way, and then if they claim they were deceived they can always point out to their website and say to them the information about their project having nothing to do with reddit was right there for anyone to read, and it is their own fault they failed to do so.

[Cadaver20]

New projects and coins are constantly coming to the market. Following this, various social media are trying to launch their own coin in the crypto market. I think investing in these new coins is risky. Because such coins show a lot of hype in the beginning, but after a few days, they get a huge dump.

[EarlyInvestor]

https://www.theverge.com/2023/9/25/23887226/reddit-gold-system-contributor-program

[Saisher]

With social media such as Reddit and Twitter gradually introducing their userbase to crypto the next hype trend could be SocialFi coins, do you suggest investing on those coins or too risky?

Facebook tried it first but they did not make it, and the authorities don't want them to proceed, I am open to token-based social media, they already have their platform, and they have an existing community all they have to do is to roll up their roadmap and concept it really depends on the social media and how they add the features and usability to create a breakthrough on the coins right now Reddit is the only one I've known but its a reward token for their users but if Facebook will finally have its own they are going to be be popular because they will have no problem with marketing it.