I Have Lost Faith In This Crypto
There are scams in crypto, but some projects will go on to help the world. I just don't think this one is going to make it. Even though I invested in the coin heavily a little while ago, you've lost my trust.
(Source)
When it comes to investing in crypto, I try to pick projects that I trust to bring change in the world. One project that I liked back in November was Reddcoin.
Reddcoin says it wants to be a tipping system that is integrated into social media.
It sounds like a really cool idea and one that could really grow to become something in the future. The website is nice and the videos are good. The team seems strong, and they look to be doing all the right stuff.
One thing they are not doing is updating anything. They have not updated their website since October. What is that about?
I also downloaded the wallet and found it very clunky and not what they demoed on the video. I really thought about why I was in Reddcoin and decided that I just don't trust them. I get emails and updates from a lot of coins that I invest in weekly.
After selling my Redd I invested back into ADA, ANT and XLM. I believe in those projects. I am getting nervous that I'll wake up one morning and hear that Redd is a scam or Facebook is instituting it's own ICO. The price would plummet, and I'm not willing to take that risk anymore.
Remember, I am not a Financial Advisor and this isn't financial advice. I'm just telling you all about my decisions after a ton of research. There is a good chance Reddcoin will skyrocket after I sell it, because that has happened to me in the past. lol
Thanks for reading and let me know your thoughts on Reddcoin. Did I make the right decision?
Let me know your thoughts in the comments below.
It's important to ask yourself if the crypto is absolutely needed. In the case of ReddCoin (tipping), do I really need a crypto? You can already support content creators in various ways. The second question is if you need a crypto, can Bitcoin fulfill this function (in the future)? When (yes, when) transaction costs come down, tipping Bitcoin will be preferable.
With the Lightning Network, a website could potentially open a channel to receive tips instantly in the near future.
Heh, I bought Reddcoin ages ago with something like 5 bucks and it's now worth 25 or so. I was considering the very same thing as you yesterday about selling them and maybe just buying some Bitshares with that. I'm also having hard time to see this success so might as well take that little profit now. After all, there are so many coins that only a fraction will become big in 2+ years in the future.
Thank you for sharing your views on Reddcoin. So many scams, so many fake stuff, so many people trying to make a fast buck. I guess that's modern day life. Just have to be careful. Cheers!
Never ever keep faith on cryptocurrency.
If you don't trust it then don't torture yourself over it. Buy something you are comfortable holding for long term. (As for me I will continue hodling RDD)
It goes without saying if something else is bought then it should be done with complete prior research or it would only bring doubt and confusion if the price don't rise when you want them to.
Best of luck!!
Don't give up on crypto just because of this
I trust them. But they betray me :(
If something is booming, then it would have scams. Those people, scammers, they are great at identifying good opportunities. Follow the scammer trail, but don't trust his words.
For them it was popular social media marketing - Ok go there, but learn by yourself, don't buy his course.
Ya some of these coins are really new to the scene. I have 100 different coins so I don't have to worry about picking the wrong one anymore lol.
I'm all about Steem and SBD! Gimme that Steem Power