How will currencies with the same mission affect our?

Just saw this: http://techcrunch.com/2015/02/03/neucoin-is-a-new-cryptocurrency-designed-for-microtransactions/

What do you think?

Well for starters they managed to get a techcruch article which is major for awareness. More legit players in the same space could make adoption of redd a little more difficult to attain. Giving away coins as soon as a wallet is installed is a great idea. It makes it one step to start playing.

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Ryan Also investors from huge companies (Facebook)

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Ryan Good points, but it could be a great thing for getting angel investment interest. Here you have another company that has done a lot of legwork to convince others that there is a market for this.

Their POS seems a little wonky to me too - does that average out to ~10,000,000,000 coins minted per year? Isn’t that a huge incentive to not spend your coins? Is it a pre-mined coin?

livefromheaven Yup they will release 3b pre mined coins

100% pre-mine and 100% interest rate? I’m not sure the cryptocurrencies community will like that. It sound like another centralized scam coin to me.

They got 2.5m in funding? Great for us.

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Reddcoin I agree but my only worry is if big companies natively integrate the coin.

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iisurge They integrate with Jango (never heard before) because it’s the co-founders other business. Will it happen elsewhere? I doubt.

The other issue is that the target audience are not traditional crypto users so the actual tech and details behind the coin becomes less important. If it’s easy for people to use and understand they are more likely to give it a try. Seems like this is the focus for them rather then presenting tech details to crypto users on why their system is better

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Ryan True, and that’s one of the things I really liked about what ReddCoin is doing. I wonder if we could setup an official “New ReddHead Faucet” that a wallet automatically requests payment from after being first installed. I’m sure there’s an even better way to do this.

The Silicon valley angel investors and their advisers are definitely a big deal, at least to me (I live in the Bay Area). I also think their focus on making it easy for non crypto currency users and giving them free coin to start with is a great strategy. When I came into Reddcoin, all I could do was buy from Wesellredd, or try to get from faucets that I had to wait til I got 200 RDD before it was sent to me :confused:

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iisurge I would not worry about that. These things are going to take a lot of time… for any cryptocurrency. I very strongly doubt any big names are going to be integrating any altcoin soon. Look at Reddit’s recent U-turn on Bitcoin itself. There is massive scepticism in the mainstream.

That is why what Reddcoin is proposing is genuinely attractive. It is a tipping platform that can be used on all major social networks without that network actually being a middle man in any more sense than a busy street is a middle man when you tip a busking musician. It is a fully open decentralised platform to encourage grassroots adoption across the internet!

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reddibrek but most people don’t dream of being that musician on the street, they want a venue to play in so more people pay them. Content creators will be the same way :confused: There are a lot of incentives NeuCoin is going to give these content creators so that they will get more people to use NeuCoin

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m3ndi3 I see your point of view, but I just don’t think it is going to happen so easily.

For any cryptocurrency to gain major adoption, including Reddcoin, it is going to take a lot more time than most people think. Cryptocurrency is not a viral thing. It doesn’t matter how many “serial entrepreneurs” sing a crypto’s praises, it’s not that easy to gain trust nowadays in cryptoland and certainly not wide adoption and use!

The other aspect of the whole scene is that it is still tiny compared with the potential. There really is room for anyone and everyone to jump in - there are more than enough people out there using social media and the Internet to eat up all the cryptocurrency in existence like it was a peanut. I think that projects with good teams and plans all have unlimited room to grow for the time being. A few years down the line and there will be major battles over audiences between those who stayed the path.

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reddibrek I just feel we need a bit more promotion. Which is something we as a community can do.

iisurge true, but after inovations are implemented

reddibrek I mostly agree… it’s more like a feeling. So many startups raising huge amounts of fiat and/or BTC and lots of them end up being a flop. If Reddcoin had the proper funding the most passionate reddheads wouldn’t have this “feeling of urgency”, or it would be lessened at least.

Even Ð had its Moolah. :confused:

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iisurge and you are doing that already by working on the projects that you are building. I’m doing it by running a Reddcoin e-com store and managing Reddheads. m3ndi3 has just joined the active community with her great game! And today I read that Gnasher has written code to integrate tipping into the forum after thinking for a while about how to be involved. Things are building steadily and well and actually quite quickly when you think about our size. We are still really small, sure, but that makes it even more exciting in many ways.

Personally I am planning to reorganise my work to spend some time professionally on Reddcoin later in the year. I can’t say anything else on that point for now but I’m sure that it’s not only me who has been considering putting more time into the project. With Reddcoin Ltd set up now as spring turns to summer and the community continues to grow I would be surprised if we didn’t have news of others joining up in some sort of professional capacity.

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reddibrek yes but those are all, for the most part, in-community projects. I think we need more promotion to the outside world. Our community it great.

reddibrek yah but it’s a bit disheartening when we are putting this effort, but then everyday passes and there’s no new news or updates from the devs. I escpecially want to know the progress of the browser wallet because I think that is all the innovation Reddcoin needs right now for us to promote it and get more people using it.

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