Reddcoin: 2020 Recap

Reddcoin: 2020 Recap

By GuyBanks | alternativecoins | 28 Dec 2020

Just over a year ago, I wrote a post on Medium about struggles, what developers needed to focus on, and more. More specifically, this story was on the underperforming and historically underwhelming alt-coin, Reddcoin.

I talked a lot about how Reddcoin has consistently been a ghost coin, how it’s social media presence has waned, and how it’s value has been stagnant.

This story is no exception. While 2020 has affected the price of several things within the economy, Reddcoin IS the exception. It’s value is nearly the same as it was in August 2019. It’s currently sitting at $0.0016 — up slightly from $0.0013 a year ago.

Reddcoin did, however, see a spike in May of this year at $0.0025; a fraction of a penny.

Reddcoin developers have continued to demonstrate that they lack the ability to build this coin, considering the coin was designed to be a “social currency”. 

This coin has existed for years and still there is no way to “tip” other users.

Reddcoin recently announced a rebrand. Which, isn’t really a rebrand but it made Yahoo! News, which was enough for them I’m sure. The article, from September 2020, mentions the ReddID is coming; which developers have been saying for years.

The ‘ReddID’ is the backbone of the coin’s existence. It’s a central hub for the user’s wallet and tips. Without it? Well, it’s just a $0.0016 coin with no real world purpose. 

It’s important for coin developers to take note that if your coin relies on backend support, that it is built first — otherwise you just have a worthless Reddcoin.

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