Hi all. I study economy and I’m interested of altcoins such as Reddcoin. Can you tell me how you see future of RDD? When it can be so popular as altcoins Dogecoin, Darkcoin or Litecoin?
It’s not easy to tell. People support cryptocurrency because of hyperinflation in fiat and security issues.
It is better to have inflation, but what is the suitable rate annually? I believe a stable environment, The ideal case should be between 5% and 6% annually in order to let people work.
In future, what kind of crypto can still stand? I personally don’t know which, but reddcoin has a value to stand because it acts as real banking system which only need at most 10W and massive storage space per node instead requiring massive scale of miners.
People believe bitcoin as the development team has answered how to deal with hyperinflation while with high security. In later stage, some teams find wrong on the first model so they introduce different models such as Peercoin, Dogecoin and etc.
Reddcoin becomes more popular when the improved staking model introduced which no one has used before. It depends on your activity, Also only few watts with big storage space to work so it has a value to stay while others, may be only no bounds or group mine with others.
The future for all these coins is still to be determined. It is my opinion, that the internet, as we know it today will drastically change in the future. With the advent of holography and virtual worlds we might see a need to continue having anonymity and placing orders for products / services. In this “virtual” world, fiat will be worthless – or have no tangible value… sort of like crypto has no value in a world without computers – a computer world would not need “euros or dollar” bills but digital currency.
Yes, PayPal and others have managed to breach the divide, but the anonymous part is disputable.
In essence, there are too many crypto currencies out there. Some are schemes, others are just ideas cubed … What I foresee in the future is sort of like the stock market … you can choose individual stocks or select an index ( that holds multiple stocks ). This would be done in crypto … where various cryptos like “RDD, DOGE, KARMA” might be folded into an index WALLET and allow the price to grow as more users jump into the merged index.
It is an idea for the second generation / round of crypto.
Thanks guys! Your arguments have sense.
But I have one more question. In all history of money (from age of shells and salt, to fiat and cryptocoins) main feature was general acceptability of money. Today I can take my Bitcoins and use them to pay for my beer.
When I check in web what I can buy by RDD offer is very poor. I understand that RDD is young coin and the offer of shops is small. But I start my adventure with rdd 2th and 3th months ago and constantly implementation to practice using is on low level. Maybe on US RDD is more popular, but in EU is still unpopular coin.
How you think? Somebody is working in implementing rdd as a payment tool? …and how I can help in promoting RDD?
Payment platforms, fiat to crypto, auction sites, exchanges, tipbots … this all has value in an emerging economy.
As an economy, we need to find the solution to acceptability in markets. My biggest comparison is when you travel to a foreign nation with your money… nine out of ten times you will not be able to spend your Fiat currency … some locations in the world will not accept a “british pound” at the value of a 100 pesetas ( spain ) … even though both currencies had the same shape and weight value — although completely different economic value.
In other words, when I was a teenager, I went to a local bar and tried to pawn a few pounds that my family had accumulated from travel, as pesetas. The tally for the bar was 300 pesetas – I gave the guy 3 pounds – he did not accept them. 3 pounds at that time was like 500 pesetas – almost double. However, after the time and trouble of exchanging this currency for that – the bartender was lucky to break even.
Our world is perpetuated through time. However, my time is worth more to me now than to you tomorrow. This is where crypto really makes sense.
Someone reads my opinion on a forum, and decides to tip me for what I have written.
Webmasters now are paying people to read and view their sites.
Times are changing… indeed.
ondapc Also the language too.
Reddcoin can be stronger by some tools such as brainwallet ,who firstly introduce an improved version OR impressive number.
I currently have modified some uploaded tools, understanding the shifting rule, then modified a bit, After this, I can say, I don’t abuse user’s fund and trust like exchanges or pools So I now am able to provide a service like groupminting.
I must say, that it depends on the country and provider of the services. Really, everything depends on them. The thing is that when I was looking for the future place for my trip, it was rather interesting to find more info about Russia and its great landscapes. Together with the reliable travel agent… It was a wonderful journey, indeed!
The future of Reddcoin will depend on the user, the more users / holders will be more popular and liked by many people, unfortunately at this time Reddcoin is rarely traded on an exchange. (maybe because it’s too cheap)
Exchanges are listed here: https://wiki.reddcoin.com/Exchanges.
Recently, Reddcoin switched/upgraded from PoSV (v1) to PoSV v2. This brought (among other things) a dev fund. Thanks to this dev fund, the team has more financial flexibility. I hope, regarding exchanges, it will result in getting listed on more exchanges.