“Reddcoin is the social currency that enriches people’s social lives and makes digital currency easy for the general public. Reddcoin achieves this by integrating a digital currency platform seamlessly with all major social networks to make the process of sending and receiving money fun and rewarding for everyone”
Directly from the website, let’s face it, it’s easier to copy paste then re-write it.
So, now I’m going to summarise the video, hang on, let me copy paste the link for the site in Chrome, it doesn’t play for me in Firefox, huh, seems a bit amateur that the video doesn’t work in Firefox. Ok, so the video says I can send & receive money in all of my social apps like facebook etc. Wow, let’s give it a try. But from what I can see this is a feature that is yet to be created.
On the official blog there is a post from Sept 2014 discussing a whole load of problems they are trying to solve and then finishes by saying:
“Stage one took us 6 months. We expect stage two to take 6 months also. It may be the most exciting period in the history of Reddcoin project.”
Looks like this is taking longer than 6 months….
On Sept 2016 they outlined a roadmap for development over 16-17. I noticed that the page is requesting fundraising. This rings alarm bells for me. Is this project having money problems?
From what I can see from Redd, this is a project that promised so much, but so far has delivered little. Reddcoin is a great concept and has lots of potential to become a huge success but seems to be coming up against some major technical roadblocks to implementation.
The video that was created back in August displayed the features of the ‘seamless integration’ to social networks as if this was already up and running but this has not yet actually been created 3 years later. The video of the wallet is also a lot different to the actual wallet in real life. I’ve also come to think that if all the people that have Reddcoin are holding their coins in the hope that they will appreciate in value then are they going to want to send them to others as payment for content on social media? The backbone of this currency is that people will transact in a multitude of micro-transactions but this will not work if everyone is just waiting for their coins to increase in value.
From what I can tell the value of the Reddcoin crypto is running purely on hot air. The hot air of a promise. Far from the reality of years of development in trying to make Reddcoin a seamlessly integrated crypto that will work with all of you existing social networking applications as was claimed to be already developed in the video posted back in 2014.
However through my critique of the project there is still one last question to be asked, which is of course, could this project succeed in the future? The answer is yes.
But, and it’s a big but. Be prepared to lose. It. all.
This is the kind of project which is pure venture capital. Invest and forget. Invest with a view of 5-10 years minimum. If you think the intrinsic value of this project far exceeds its’ current market capitalisation, make your decision, buy your coin. Store safely and forget.
No one can predict the future, happy investing all.
Very good article. Good to see I'm not the only one that is thinking about this. Buy and hold for the upcoming 3 years and the blockchain market will find it's way. We do need more indept investment analysis. Besides coinmarketcap.com there is: https://www.coincheckup.com The site is my go to place for crypto investment analaysis and indepth coin research. On: https://www.coincheckup.com/coins/Reddcoin#analysis To see the: Reddcoin Investment research.
Cheers, I'll check them out
Thanks for sharing... Love it.
If anyone is interested @Btcpopco has pooled staking for RDD (if you’re not tech savvy like me)