Coinmarket exchange ruins the value of rdd coins....
Ruins or reveals?
Ruins. It was too early for an exchange which resulted a dump.
Doesn't seem all that dump-y to me (yet). LEAF was a dump. I'm not seeing any ridiculous sell orders. I think RDD is simply suffering from a lack of buyers right now.
It is normal for a new coin to have lack of buyers...look at mooncoin. That is exactly what happened. They stayed 1 week at 1 santoshi maybe even more. And then BOOM up it went.
This is exactly why I buy a decent chunk of all the new coins when they are in that phase. If 9 out of 10 never go anywhere, but that 1 in 10 goes up 20x+ in value, I've doubled my overall investment
Reddcoin and Batcoin are the two best prospects I see right now in the "brand new" phase. Batcoin is having issues with low mining and difficulty fluctuations, but I love the idea of a coin based on batman, and the creator seems to have a decent sense of humor about it. Reddcoin has a good idea, and as long as the IPO is legit, I expect the worth to go up substantially over time.
However, I do think the IPO idea was poorly implemented. I understand the need to reward early investors, but two phases makes no sense. Maybe if one phase started, and ended, over a month ago, and was the fund to get the coin setup, and then a second was started later, it would make a bit more sense...but the back to back phases, plus double rewarding the first phase investors, makes it hard to justify investing much. I bought into it a bit today, but would have likely put 5-10x as much in if the phases were combined, or the first phase investments were not being rewarded in the second phase.
I'll make a new version in 10 mins
