This is mainly a long term investment.
Recently reddcoin has recevied a lot of attention because of the supposed release of "REDD-ID" which would enable the true use of this cryptocoin.
ROADMAP FOR REDDCOIN 2017-2018 http://i.imgur.com/tZEilmm.png
What is Reddcoin
Now if you don't know what reddcoin is, it is a cryptocurrency which is revolved around the "social" use of transactions made online. The way i understand it is that it creates a flexible alternative for examplefunding or as they say themselves "tipping" your favorite content creator on the internet removing the intermidiary body (PayPal, Skrill & others) where the perhaps best of all is that the "tipper" remains anonymious and skips larger transaction fees and possible post-taxations if you are on the receiving end, leaving more in the pocket not to mention the current fee of just using Patreon and the notorious chargeback abuses
The creators that would benefit that from this crypto currency type of funding are obviously the ones linked closely to social media such as your next door youtuber, streamer using the most popular platform "twitch" ,your favorite online news-magazine and the emerging e-sports industry. Yes E-sports, it is closely linked to exposure because it is actually more of a show business income wise, because it relies HEAVILY on the exposure & advertising generated by VIEWS. And what else is connected with exposure, Social media thank you.
And the community of gamers are well known for their content creations, mostly dominating the main stream social media.
Considering the main "product" of this service is about to be released if following the roadmap the value of the coin can increase quite significally, on top of that the coin is the currently 7th most popular right behind RIPPLE according to the cryptocurrency popularity index
Why do i think that this will be adopted by the content creators if received correct attention?
- NO MORE CHARGEBACKS PayPal, has this major issue where people do fake donations and claim chargeback afterwards making the money refunded larger that received because of additional fees the receiver has to pay for a chargeback
- Easy to setup
- Fast transcations
- Anonymious, No one knows who you are if you decide to contribute
- Tax Free/ no fees, for example Patreon takes 5% from earned revenue and 5% in transaction fees making it 10%
- No real intermidiate body, de-centralized, no need for a middle man like PayPal for example
Considering these points i think that in the near future the value of the coin can sky rocket if no real competitor shows up just in time to screw Reddcoin over.
There are however cons for this aswell. Since it isn't the most popularized currency like ethereum , ripple it is subjective to P & D's. Another thing to keep in mind is that Kimdotcom (yes) is currently developing his own currency with the same idea called "Bitcache" link which could be bad for Reddcoin if the public favours the other.
Im saying this because in the end i think Kimdotcom has the deeper pocket to more effectively market Bitcache as the "new and hip" social currency. But it is yet to be seen because it is currently non-existent and just an idea as far as im concerned.
0.00000042 BTC (59.16%)