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: http://reddwave.tumblr.com 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.
