ReddCoin is a “social currency” that gives holders the ability to reward creators of content on social media platforms like Twitter and Reddit with RDD coins. Volunteer developers are reportedly targeting other high-profile social media sites including Facebook. It boasts features like linking a Redd ID to other social networks, sending tips with one click via the Google Play Store and more.
It sounds so great. But it appears that the guys who started this project thought the work will be done by someone else as they certainly are not delivering on what they promised.
The Reddcoin team is currently working on ReddID. Things are going slower than expected. Although there is a ‘public release‘, it’s still being developed and tested. A version 1 – with transition to full production – is planned and expected ‘soon’. Soon is the favorite deadline in the crypto space, btw.
Every new startup has its teething problems but RDD is in a much more serious health condition now. One of the admins on their Telegram group allegedly told that some of the early developers dumped their coins and jumped ship. That could explain a lot of inactivity around the project.
The idea is great, but the product delivered short of customer expectation in every-way, and further development seems to be at glacial pace. In short, it’s a zombie coin that no one uses for anything but to fleece money out of the naive newbies.
Their community is full of bag holders who got stuck with their “moon bags” after the ultimate shiller John McAfee pumped them (just like he did with other shitcoins like XVG, SKY etc). Most of them are just waiting any kind of price bounce to sell their RDD and cut the losses. That would actually be a smart move, if they ever get the chance to do it.
Some altcoins will continue to have some speculative value for the foreseeable future. But just like the now infamous tulips, the hysteria will eventually subside. We are already witnessing the first phases of that slide and even though most of the bag holders react emotionally to articles that criticize their coins, I am just observing the developments on the market. You better start emotionally detaching yourself from your “great sounding” coin because if goes nowhere, ideas are worthless without execution and real users that see value in the project.
The Pareto Distribution is a pervasive phenomena observed in nature, and it describes the 80/20 rule where 80% of the women have sex with 20% of men. 80% of wealth belongs to 20% of the population. 80% of your results come from 20% of your activities. 80% of altcoins will fail and RDD seems to be in that group.
