Reddcoin and the invention of social money

The interesting thing about Reddcoin is how it doesn’t need to be a real life economy to succeed. Most other coins are focused on merchant adoption, they want to take over or live along side the current fiat economy. This takes a lot of luck and hard work and we have to wonder if it is even necessary. Reddcoin on the other does not need even one merchant because the value of the coin derives from the same value as liking or resharing: the social reward. If I make a beautiful picture I can feel good about it because of the likes and comments I get, this is great but imagine if I could be rewarded with money for a simple picture. I think it is wrong to have a tip like “coffee RDD” the RDD is not meant for buying coffee because there is no merchant who sells coffee for RDD. The tip should be something regarding the content like “for the pleasure your picture provided me with here is the equal amount in RDD” –maybe “inspiring RDD”, “fantastic RDD” or “nice RDD”, now I am not paying the content creator with a coffee he might as well have bought for fiat, I am paying him within the social system. He can then go on to exchange the RDD for fiat and buy a cup of coffee or what ever, but that has nothing to do with RDD that has something to do with him using the pleasure he gave me to give him self a pleasure of his own choice. My point is, and I believe this is important, Reddcoin is social money just like likes are social approval not like a dollar or a Bitcoin is merchant spendable money. If we stop comparing Reddcoin to fiat we can move towards the money of the digital age, which brings me to my second point.

With the invention of the internet a new economy has emerged, this is an economy where I for instance can make blog posts without ever expecting to see them turned into money, I am simply doing it because I enjoy peoples response and likes. Now as robots take over labour in many fields human labour becomes more and more obsolete, when we start to become more unemployable we will need a human economy, in this economy you are not payed for the hours you spend but for the content you provide and the amount of pleasure this content gives. Now if I as a journalist write an article I want to make it as catchy as possible to get as many likes and reshares as possible thus making advertisement money, in this new economy based on the amount of likeability of my article I will have to write it well, because the better I write it the more RDD it is equivalent to. This way of looking at quality over quantity will help us to create a much more wonderful internet environment than any of us can imagine. If you for instance take a look at my blog: you will see that I am not reblogging other peoples material but am genuinely trying to make as beautiful content as possible because I know when social money takes of people will look to reward those who create quality.

To sum up Social Money is a new kind of money that although they can be converted to fiat bear value in them selves without the need of merchant acceptance. When human labour becomes more and more obsolete we can explore new creative and quality fields, at this point robots will be able to write all the trash articles with alogorithms and so on but they can only focus on quantity and the human in depth analysis will be cherished in this new economy thus making it logical for everyone to provide quality on the internet. Get ready for internet 2.0 the internet of quality.

Redd said:

I think it is wrong to have a tip like “coffee RDD” the RDD is not meant for buying coffee because there is no merchant who sells coffee for RDD.

Ahem… :smiley:

I love what you are saying, by the way. Great post. Regarding, one of the reasons I have chosen to sell coffee, chocolate and chilli sauces is that they make great gifts and I reckon they are quite “social foods”, if such a thing exists.

It is quite cheap to buy some nice Belgian chocolate as a present for someone, and eating it is an immediately enjoyable experience. Computer hardware just doesn’t quite have the same social ring to it, if you see what I mean. But perhaps I’m stretching things a bit!


reddibrek haha I was maybe being a bit dogmatic. To clarify I think it is possible to sell things for reddcoins and love your site my point is just that the economy is beyond merchant adoption and is about something completely different, that being said I don’t see it as a problem at all to have reddcoin shops!

Glad you like my post!!

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Redd This is exactly what I am hoping Reddcoin will do for society! In the Reddcoin Game I’m making, when you tip people you earn “feels”. Then you can convert those “feels” to meaningful content that will bring you more RDD in which you can tip more people and spread the love.

Whenever I tip RDD I really do have a sense of happiness that I might have made someone’s day. It seems like I appreciated the content before, but because I just tipped him, I appreciate it even more. Just the other day I watched this video that I really really really liked and I wanted to show my appreciation for the creator, but the site was in Chinese and I didn’t really know how to communicate with him. I just really wish he had a RDD tip button. I just can’t wait for the day when everyone will be tipping with RDD and spreading the “feels” around the world.


reddibrek haha. I’d agree those are “social foods”!

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I agree with most of what you are saying. Reddcoin should be used to tip content providers to show appreciation of what they are doing, it would give them hope and encourage them to continue making content for people to enjoy. On the other hand I don’t agree with what you said about not adopting reddcoin to purchase things from a merchant, it would make it more convenient to use reddcoin rather than going through the process of converting reddcoin to fiat currency and getting less than the coins actual worth. Even if value is not important here it is important to keep in mind that people like to keep thing simple. For example, if I were a content provider I would gladly appreciate the tips, but if I want to buy something with the coins I won’t want to have to convert it in order to get something because it defeats the purpose of being a currency. These are just some thoughts I wanted to share.

“If I make a beautiful picture I can feel good about it because of the likes and comments I get, this is great but imagine if I could be rewarded with money for a simple picture.” -Redd

Now take your imagination to Instagram among others.
Share, Like, Tip

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