Why I sold 10,000,000 RDD:
Let me tell everyone a little something about Reddcoin from my perspective... This coin started out under the fury of Dogecoin. Someone saw the success of the coin and made a similar coin. Even had a silly alien as the logo, notice the name Reddcoin is similar to REDDit and even has an alien logo? Hmmmm... And smart enough to neither confirm nor deny they were utilizing this wordplay to their gain... This "group" then setup a subreddit, and purchased subscribers and thousands of fake subscribers and spammed the new coin. They then had a very "quiet" IPO, which I suspect would have been to been allowed for "select" investors...
Then everyone was fighting in DOGEcoin some wanted to take the coin on a more "serious" path, others wanted to stay the way it has always been, fun, positive, and good, but not serious... Reddcoin saw the market and changed its logo, and at the same time people started to flock to it... The developers started to say "Hmmm I got something real here..."
So my 2 cents, Doge was a joke coin gone legit, Reddcoin is a scamcoin gone legit...
I am not saying to not invest because of that. But I digress...
So now you have a coin that wants to be incorperated into social media like Facebook, Twitter, etc... Which I think is genius especially when it comes to tipping artists (Soundcloud, DeviantArt etc...) But DOGE has attempted this, and many other coins have attempted this, why would Reddcoin prevail over all of those?
Also look at Dogecoin, it has TREMENDOUS success and huge milestones such as the world olympics and even a NASCAR car, but the price never budges... why? I believe market saturation. There are 88 BILLION DOGEcoin. That is 88,000 Millionaires!
Reddcoin has 26 Billion coins, 26,000,000,000! That is 1/3 of Dogecoin, mind you Dogecoin is the most widley accepted cryptocurrency of this kind and it is valued at 25 sats while maintaining 5x Redccoins volume. That's right, Reddcoin has 1/5 the volume of Dogecoin and is already nearly 85% of the value, so thinking it will go up is unlikely. There is not a single coin over 10,000,000,000 worth more than 25 satoshi.
Besides the huge available coin saturating the crypto world, there are literally 100's, pushing thousands, of coins offering the same service, and I promise you many will be moving into the social media market, but this one just doesn't fit the bill IMHO... And if FB, or any other social network, was willing to incorporate Reddcoin tipping, it would have done it by now... In fact that would have been a developers top priority, and if it wasn't, I would be concerned.
Have fun with this coin, as I have, but don't expect or chance any serious investment here.
As you can see I got out and glad I did. I got in on Rdd around 4 sats and held when it hit 40 at sold at 15-16. I would be very careful with this coin.