I wrote the following reply to a reddit-question about "Which coin to invest in?".
------
At the moment $60000 has been invested in Reddcoin. The developers seem serious, paying designers for graphics design and making plans for marketing it. It's not made for making money, but for tipping on social media, and when the API has been developed... your investment could turn really valuable. If you look at the current price of Reddcoin, which is close to nothing, and then imagine all the invested BTC was spent on buying instead - all the visible sell orders would be swollowed and the exchange rate would become more than 11 times higher. That would by far making it the best coin to mine, and at the moment, the best coin to invest in. Furthermore, the Reddcoins for the $60000-investors can not be dumped by more than 1.1% a day due to the payout rules. With $60000 dollars, i'm convinced the developers can make the demand for the coin raise more than 1.1% a day, making the exchange rate rise.
The developers have two options:
1: Dump and crash the coin and runaway with $60000.
2: Enjoy a cryptocoin-paid job for at least half a year with the opportunity to make the coin idea work and secure their job, maybe even become very rich if the social API is made fair, easy and clever.
If you get $60000 "for free" because of a good idea, you should stick with the good idea.
------
Am I right? Are those good reasons for people to invest in Reddcoin? (I already did).
------
At the moment $60000 has been invested in Reddcoin. The developers seem serious, paying designers for graphics design and making plans for marketing it. It's not made for making money, but for tipping on social media, and when the API has been developed... your investment could turn really valuable. If you look at the current price of Reddcoin, which is close to nothing, and then imagine all the invested BTC was spent on buying instead - all the visible sell orders would be swollowed and the exchange rate would become more than 11 times higher. That would by far making it the best coin to mine, and at the moment, the best coin to invest in. Furthermore, the Reddcoins for the $60000-investors can not be dumped by more than 1.1% a day due to the payout rules. With $60000 dollars, i'm convinced the developers can make the demand for the coin raise more than 1.1% a day, making the exchange rate rise.
The developers have two options:
1: Dump and crash the coin and runaway with $60000.
2: Enjoy a cryptocoin-paid job for at least half a year with the opportunity to make the coin idea work and secure their job, maybe even become very rich if the social API is made fair, easy and clever.
If you get $60000 "for free" because of a good idea, you should stick with the good idea.
------
Am I right? Are those good reasons for people to invest in Reddcoin? (I already did).
I agree with most of that. I don't know about the constant use of $60000 lolol. It's a very volatile number these days with the BTC prices and MT.Gox and Overstock adopting in 1 week (which btw is AWESOME) - http://www.wired.com/business/2014/02/rise-fall-rise-patrick-byrne/.
And in general, focusing on our work and community here and reddit is much more powerful than throwing that # around.
Yeah, maybe you're right. I just imagine people who are new to cryptocoins and want to invest, need some kind of real-life-number instead of something relative only to cryptocoins and the cryptocoin "community". The coin needs to be easy to understand in order to succeed in social media, so i think it's very valuable to convince non-crypto-people to get involved. In this case an investor. If it wasn't an investor, i think you're right - i shouldn't focus on that number.
I am a bit worried with 3-5 coins created everyday.
http://altcoincalendar.info/
