Reddcoin Price Falls In the Face of Bitcoin Bulls!

Reddcoin price has fallen around 40% during the past 10 days. The fall in reddcoin price has coincided with the rise in bitcoin price that has been prominent since the beginning of March.

By looking at coinmarketcap’s reddcoin chart (look at the below chart), we can better spot the drop in reddcoin price that started on the 28th of February. As we can see on the charts, reddcoin has been mostly trading between 8 and 10 satoshis during most of February; however, at the moment reddcoin is trading between 6 and 8 satoshis. Accordingly, if you bought reddcoin at 10 satoshis last month, at 6 satoshis, you have now lost 40% of your invested amount.

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Why is the price of reddcoin is falling despite the fact that bitcoin price is actually rising? Well, the answer for this question is relatively hard to find, but there is a rather logic theory; reddcoin is mostly bought with bitcoin as there is very few ways to buy reddcoin with fiat currencies. When bitcoin price rises, a considerable percentage of altcoin holders sell their coins for bitcoin. I think this is what has been happening with reddcoin during the past 10 days or so. A large amount of reddcoin was pumped into the market in exchange with bitcoin which is the most probable reason why reddcoin price dropped.

Although reddcoin was one of the altcoins that had a rather stable price, the recent fall can lead to an increase in reddcoin’s volatility once and for ever. If you bought some reddcoins a few weeks ago, my advice for you is to hold on to your coins for a few weeks more and don’t sell them at today’s price. Reddcoin is apparently oversold and its value is really more than 8 satoshis, especially that it is backed by a strong community that truly believe in Reddcoin.

http://www.newsbtc.com/2015/03/09/reddcoin-price-falls-face-bitcoin-bulls/

Well, I bought it when it was 13 satoshi, so you can imagine how idiotic I feel at this point. LoL

Let’s just compare Darkcoin vs Reddcoin for the moment…

Darkcoin Genesis Block --> January 19, 2014 (about 1 year)
Reddcoin Genesis Block --> January 26, 2014 (about 1 year)

Both coins have great intentions:

Darkcoin provide anonymity (despite some tricks and all that like Masternode - obviously to attract investors… I mean, 1000 DRK to host it?)
Reddcoin provides great integration for tipping and innovative POSV (not gonna mention all those features that were listed in the website, but is not out yet)

The thing is, Darkcoin can be mined by any GPU (x11) - Reddcoin, however was mined - and some got lost in the fork (what the fork). Then, there’s no other way to get it other than through exchange.

The way I see it, when we talk about exchange - we’re talking money (fiat) or bitcoins (best liquidity) to change to Reddcoin. Which is more valuable?

I’d keep Bitcoins for liquidity, Peercoins for interest, Darkcoin and Monero for anonymity, Doge for fun, Ripple for international exchange, Bitshares for decentralized exchange. Reddcoin? Tipping? Maybe not yet. Most probably keeps for future investment or for POSV to contribute at this moment.

It has been a year, the only great thing about Reddcoin is the POSV. Browser extension is clunky, I hardly can depend on it.

As for Wikipedia, (public wiki) - Darkcoin exist. Reddcoin is missing! I mean, if you can’t rely on public wiki or articles; then most people won’t trust in self owned Wiki for public judgement.

No offence to you guys working hard for the this coin, but Reddcoin is valued sorta exactly as it’s worth in a way - for now. I’m hoping soon it rockets up when this tech brings great value as we all have envisioned.

Yet, working on the marketing of this coin would very much depend on the value this coin provides - even if like I read the post, “What can you do for Reddcoin, not what Reddcoin have done for you”… but the reality is… we use tech, not tech use us. We value tech, not tech value us.

That being said, apologies I had to say something. Just felt like it. I know I’m not exactly much of a contributor though I like to be, and I hope I didn’t push any wrong buttons here.

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lynxlee I bought plenty in that range as well. Eventually the usefulness and value of this product will shine. I feel fine about it. During the release of PoSV Reddcoin saw a few days of 1000BTC of volume. It will happen again.

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FaithInReddcoin You speak just like your username. =D

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lynxlee said:

Let’s just compare Darkcoin vs Reddcoin for the moment…

Darkcoin Genesis Block --> January 19, 2014 (about 1 year)
Reddcoin Genesis Block --> January 26, 2014 (about 1 year)

Both coins have great intentions:

Darkcoin provide anonymity (despite some tricks and all that like Masternode - obviously to attract investors… I mean, 1000 DRK to host it?)
Reddcoin provides great integration for tipping and innovative POSV (not gonna mention all those features that were listed in the website, but is not out yet)

The thing is, Darkcoin can be mined by any GPU (x11) - Reddcoin, however was mined - and some got lost in the fork (what the fork). Then, there’s no other way to get it other than through exchange.

Darkcoin has had plenty of forks. Most coins have had one or more. That we had one was unfortunate, but it was realized and fixed in a timely manner, and is actually a primary reason Laudney became the lead dev. Coins are not “lost” in a fork. A fork occurs when there are two (or more) chains that people are mining/staking on. One chain wins. The rest lose. Always. That’s a feature, to prevent rouge chains. Our fork last March (roughly one year ago today actually) was unfortunate, but we’ve moved past it and are stronger for it.

It has been a year, the only great thing about Reddcoin is the POSV. Browser extension is clunky, I hardly can depend on it.

The browser extension is in beta. We have actually specifically asked you not to depend on it, but rather use it here and there and report bugs or ideas for improvement. It is in active development.

As for Wikipedia, (public wiki) - Darkcoin exist. Reddcoin is missing! I mean, if you can’t rely on public wiki or articles; then most people won’t trust in self owned Wiki for public judgement.

Everyone is well aware Reddcoin does not have a wikipedia entry. There are certain notability requirements to be included on wikipedia, requirements that do not necessarily align with “value”. A number of failed coins, such as Auroracoin for instance, have a wikipedia entry not because they are a success but because they generated a ton of publicity. We have avoided over-hyping Reddcoin until we feel we have a product worth hyping. PoSV is one step, Redd-ID the next. True, meaningful notability takes time. Congrats to Darkcoin for achieving this. We still believe we can.

No offence to you guys working hard for the this coin, but Reddcoin is valued sorta exactly as it’s worth in a way - for now. I’m hoping soon it rockets up when this tech brings great value as we all have envisioned.

We are focused on bringing value to the coin, not price. Please do not confuse the two. Price without value will crash, but value will drive demand. At least that is out belief. We aren’t focused on today’s price of Reddcoin, but rather tomorrow’s value.

Yet, working on the marketing of this coin would very much depend on the value this coin provides - even if like I read the post, “What can you do for Reddcoin, not what Reddcoin have done for you”… but the reality is… we use tech, not tech use us. We value tech, not tech value us.

That being said, apologies I had to say something. Just felt like it. I know I’m not exactly much of a contributor though I like to be, and I hope I didn’t push any wrong buttons here.

Feel free to say whatever you would like, provided you can do so civilly as you did here.

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bigreddmachine well spoken…!

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bigreddmachine Can i just say, reading your post is very much comforting. Talking about value, these replies are well appreciated. Just tipped you 1500 RDD. Thanks!

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lynxlee said:

bigreddmachine Can i just say, reading your post is very much comforting. Talking about value, these replies are well appreciated. Just tipped you 1500 RDD. Thanks!

Thanks. I can promise you, I wouldn’t be involved with this project (especially involved as much as I am) if I didn’t think the intentions of the development team were pure. Reddcoin could one day end up not succeeding, but it won’t have been from lack or care or effort. Just my opinion.

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Reddcoin What I read in that post was essentially hold on its going to be a bumpy ride. But the thing is depending upon how bumpy some may decide the ride is not of great enough value anymore and decide is best to get off before their backside is too bruised from all that bumping.

Comes down to hos much patience a person has and what they are really expecting from the coin as a whole. A quick investment with a quick payback with interest. or a long term investment in something that could have greater value over time.

Each will have to decide on their own for in the end that is all that matters, what each wanted out of the coin and how close it got to them getting that.

I call already see the exchanges when the price hits 10 sat or more again, mass sales will happen by many in fear of it dropping again. Many will buy them up and think they were smart… but if the price drops again they then will feel like the fool and will be the next round of mass sales when it rises again.

An the up and down ride will begin… the pump and dump ride. It would take a massive change and improvement to prevent this from happening. Something though maybe able to happen but will it be soon enough for those on the fence.

Again only patience and time will answer that for everyone.

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