Ana Sullivan

ReddCoin (RDD) Pumped to $0.005 — Is This Another Trick To Lure in Users

by Ana Sullivan April 11, 2018

 

The ReddCoin (RDD) digital currency has recently been pumped by its developers in order to attract more interest, its current value is $0.005. However due to its history of previous value speculations and price pumps it is highly unlikely that a continued trend of growth will follow.

ReddCoin Concept

The ReddCoin (RDD) aims to provide digital currency platform accessible through social networks. As devised by its developers this is done by using a Redd-ID service that allows the users to associate their username with "rich information" which includes public keys and their respective social network identities. The project also includes a Tip Platform that allows users to send & receive digital currency on the supported social networks between themselves and to content creators using this system of micro donations.

ReddCoin development is focused on building a stable platform that should concentrate on a "hub" that would allow the users to manage their social media accounts connected with the relevant "media tipping accounts". The proposed plan is to create hybrid solution made up of a flexible digital cryptocurrency with game reward points and other related assets.

ReddCoin Issues

One of the main reasons why there is a noticeable lack of attention and stable value growth when it comes to Reddcoin is the apparent lack of focused development. Posts on community forum and specialist sites frequently note that most of the propositions coming in from the team are still not implemented in a real-world application. Over the years there has been frequent posts that promote marketing hype with the intent of luring beginner digital assets into investing into the price. There is an apparent lack of real-world adoption in services which is the reason why the only ReddCoin interactions are buy and sell operations on the exchanges that support it. An analysis of the users perception of the project reveals the following statements:

  • The user community perceives the asset primarily as a trading investment currency. At the moment no large-impact partnership has been established.
  • The development team is regarded as not heavily interested into the project due to the slow development. Many users and experts now label the project as a "hobby" endeavor rather than a strong competitor to other digital assets.
  • The fact that the ReddCoin currency seems to spike only when major announcements or hype is generated means that it is not likely that it will achieve stable growth.

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