Will Ethereum or Ripple ever dethrone Bitcoin?

Bitcoin is the boss of crypto currencies, that’s for sure. Bitcoin has been at the forefront of all digital currencies for years. Will Ethereum or Ripple (XRP) ever manage to dethrone Bitcoin?

Bitcoin code as a brand

Stop a person on the street and ask them for crypto currencies. The first thing that comes to this person’s mind is probably Bitcoin code. Bitcoin is the first and most important crypto currency that has stayed at the top of the charts since the beginning and currently still has 38 percent market dominance like seen here: https://www.onlinebetrug.net/en/bitcoin-code/

Bitcoin dominates: The primary rock of crypto currencies has a market capitalization of over 129 billion euros. The two biggest competitors are far behind. Ethereum (ETH) has a market capitalization of 54 billion euros and Ripple (XRP) only 27 billion euros. Neither of the two digital currencies is a real danger for Bitcoin – at least not yet.

Ben Way, CEO of Digits.io, said in an interview about Ethereum code:

It would require an enormous price push that would outstrip Ethereum code price increase over a long period of time. Markets aren’t always rational and currently Ethereum code is the gold standard – because it’s the currency everyone knows.

Bitcoin is a strong brand. Crypto currency and Bitcoin are the same for the average person. It is unlikely that Ethereum or Ripple will dethrone digital gold in the near future. Although Bitcoin never had a marketing plan or a company marketing for Bitcoin, Bitcoin is a strong brand.

Darren Marble, CEO of CrowdFundX, agrees and said in a Forbes interview:

I don’t think Ethereum or Ripple will ever dethrone Bitcoin. […] Bitcoin is a power brand. The majority of the press reports about Bitcoin, not Ripple [or Ethereum]. Bitcoin is the brand of the market, which should not be underestimated.

Bitcoin | The Original
Marketing-VP of Rewards.com says that Bitcoin danced first and alone at the (crypto) party and therefore will keep the lead for some time. Bitcoin is a household name and Bitcoin benefits from marketing and branding – free of charge. He believes that Bitcoin can only be dethroned if digital currencies are built into everyday life in a way that everyone can use.

But there should be a way. At least that’s what the CEO of Blue Chip Vision, Robert Masters, thinks. Ethereum or Ripple could overtake Bitcoin on future protocol improvements.

However also Bitcoin does not sleep. The first beta of the Lightning version was released and first LApps are tested. A dethronement does not take place for the time being.

ReddCoin – Who is behind the crypto currency?

Behind the ReddCoin development is a small team of rather unknown developers and blockchain enthusiasts. The development started already in 2014 and was financed with an Initial Public Coin Offering. This differs from a standard Initial Coin Offering, with which most crypto currencies finance themselves, in that it is much more public and pays out every coin that invests in the project. At IPCO, the developers collected over 168.83 Bitcoins (then worth over $100,000).

ReddCoin – advantages and disadvantages for the Bitcoin trader

The crypto currency primarily uses the Bitcoin trader. Recently, Youtube and Facebook have made it more and more difficult for these people to earn money through their platforms. They have to look for new sources of income and how users of their content can reward them for their work. It is conceivable that these people would buy the Redd Coin to pay for the Content Creators. Similar donation services like Patreon are very popular, why shouldn’t this also work on a blockchain basis?

It would be quite gloomy for the forecast if these platforms introduced their own donation services so that fans could reward good content. Many would certainly shy away from using a crypto currency, even if ReddCoin development tries to make the handling of the crypto currency as easy as possible. The barrier is still there, the donations on the respective platforms would probably be perceived as more comfortable. The platforms would also advertise their own services and rather try to keep out other possibilities of remuneration. Finally, the platforms have a home advantage.

Apart from micro-donations, the crypto currency has no other special functions. Since the blockchain remains independent, it gives it a certain flexibility. But ultimately the product stands or falls with the fact that it can establish itself as a payment for content creators. If this fails, RDD Coin is not worth buying as an investment.

ReddCoin Course – Development – Forecast on https://www.onlinebetrug.net/en/

Since the start of the Redd/Coin crypto currency in 2014, there has been no change in the price, said onlinebetrug,the coin has kept a value well below 1 cent per coin. The first changes in the price began in May 2017, when the coin steadily gained in value, at the end of the month finally 0.10 cents per coin. In June, the price briefly traded above 0.20 cents per coin and fell below 0.10 cents in July.

The crypto currency remained in this range until December 2017. This may have been one of the last opportunities to buy the RDD coin at a low price. Because afterwards the crypto currency put down a respectable value gain. Around the Christmas holidays the price quoted the first time on over 1 cent per coin and sank to the end of the year again under 1 cent. To the new year the price rose again, within fewer days it rose to 1.5 cent and reached with 2,5 cent per Coin its high point. The share price then lost value again, although it still seems to be well above the level of the previous year.

What does this tell us about a ReddCoin forecast? It is difficult to make any forecasts on the basis of this price. Although the Redd Coin has existed since 2014, these were the first signs of life on the stock markets. One could attribute the price gain to a tweet by John McAfee, who drew attention to the ReddCoin crypto currency. However, he chirped at a time when the price had already risen. Rather, it looks as if the price was following general market trends. This is likely to remain so for some time to come and ReddCoin could buy when the coin is low again, as a rise in the price is also possible.

ReddCoin – Crypto currency of social media

The ReddCoin, also called RDD for short, is supposed to become the crypto currency of the social media, with which one can reward Content Creators with a small tip in the form of the Redd Coin crypto currency.

Not only professional content creators, but across all social media, users should be able to give content they like a micro-donation in the form of Reddcoin. Can a prognosis still be made despite the young age of the crypto currency?

ReddCoin – What is this crypto currency?

ReddCoin is based on the Litecoin. The crypto currency should become a social crypto currency, which should be used mainly by the users of the social media. The coin acts as a kind of donation to reward good contributions. Instead of simply giving a contribution a like, the crypto currency should reward the author of the contribution with a small amount of RDD coins. Especially content creators should be rewarded, i.e. people who produce videos, text, music, pictures etc. of quality on platforms and try to earn a living with it via the social media. The financial feasibility of their work presents many content producers with great difficulties, and the crypto currency should help them. Besides, the Redd Coin should also increase the perception of crypto currencies.

On basis of the decentralized blockchain an independent platform is to develop, which makes the dispatch of the Coins possible. The blockchain should function in such a way that the micro-donations reach the author of the contributions without the blockchain having to be implemented directly into these social media during development. This means, for example, that Facebook does not have to officially implement the blockchain before Redd Coins can be sent. Nevertheless, the transactions should run smoothly. For example, an extension for Google Chrome was created for this purpose, with which micro donations can be sent immediately on Twitter, Reddit and Twitch. The developers don’t want to work officially with these platforms to keep them independent. The Redd-ID is another function of the blockchain. It is a service where information such as usernames, public keys and social network identities are stored via the blockchain.

The development also offers some technological innovations

New blocks are generated using a proof-of-stake velocity process. Proof-of-stake means that in order to create a block, ReddCoin users only have to hold (“stack”) ReddCoins on the ReddCoin wallet. In return, they are rewarded with a few coins. The velocity algorithm also rewards active users who keep their wallet online for a long time by paying them a higher interest rate. At the same time, the proof-of-stake process is also more environmentally friendly than Bitcoin, for example, and does not consume a lot of electricity. Transactions of RDD Coins should also be considerably faster. The coin is expected to inflate by 5 % annually.