Bitcoin Forum

Forgive my noobness, but I'm a bit confused by the landscape in the cryptocurrency/marijuana space. I get the whole crypto/blockchain business case, but where it applied to the marijuana business sector, not so much. There seems to be a large number of coins, but the talk I hear is that Bitcoin is good enough for this business. Is there an altcoin that works for the business more that others?

The USD. Ya know considering it's becoming regulated.

What about paragon? but all of them doesn't make sense to make a business in this area because the silk road can become a very good reason to see about the fact that will be impossible.

Ok you got Smoke exchange with current ICO on at the moment that is looking to be the marijuana equivalent to google adwords.

Dope coin

Pot Coin

and Im sure there is another but cannot remember at the moment.

I do not think about this issue because first of all, marijuana is somehow illegal in many countries. It is very hard to develop a project which relate to cannabis. Seconds, marijuana is a new trend in 2016 and this year, therefore, many scammers are using this factor to lure people into their trap and deposit money. Instead investing your money into those projects, you should grow your own cannabis ;) you know, I smoke weed everyday

I can say I don't have any experience in this sector, but I would assume Bitcoin would be the most prominent of all the coins accepted.  Sure a person could take Potcoin or any other of the drug related coins out there, but in all reality, they would all still be converted into BTC to then be traded into Fiat, so not really sure the point.  

Best thing to ask, are you going into the business, or looking to buy?  If you are looking to buy, then it would be up to whoever you are buying from which coins they would take.  Why buy a pile of Potcoins if the person you are dealing with won't take them?   If you are looking to set up a business, then you are in a different boat.  I would almost suggest one of the new anon coins, although BTC will still be the easiest to deal with.

Whatever to choose for your business coin, in the end it will end converted as Bitcoin or USD. So why you should bother yourself and not use directly Bitcoin.

If you want some more anonymity, then I suggest you Monero and DeepOnion.

I think what you were asking is what coin best suits the cannabis/marijuana industry-
There are quite a few cannabis-specific coins, as cryptoking710 mentioned - a few more are Hempcoin, CannaCoin, Tokes, CannabisCoin. There are more still. For the most part these are just "hey - I'm a marijuana token in a cool space looking for people to use me" - without much in terms of infrastructure. For example they have no bitshares-type functionality, no crowd funding, etc. All things that cannabis businesses need desperately. So, yes, there are a few coins that service the industry, but they don't provide much more than just a basic coin vehicle. So not really any advantage over just using Bitcoin...
Hope this helps.

There are a number of coins launching and or launched that use the blockchain as a supply chain management tool. Using the [Suspicious link removed]panies, governments and consumers are able to acess alll kinds of diff. data points via the blockchain and some of the companies use a coin as the point of access to their blockchain. The question I have is; Can any of these companies truly be successful if their products aren't ubiquitous? Nobody is going to buy into a blockchain that only has three dispensaries and a few LP's using it.

If a person wants to be successful, then he must know where he can earn money with pleasure and with minimal energy P2PS.
 https://bitcointalk.org/index.php?topic=3267287
 https://www.p2psf.org/

As you know marijuana is still illegal at federal level, even though it's legal in some states. This makes quite hard to those who want to keep a legal business in the marijuana industry. Using crypto, makes the transactions easier across states, so a lot of merchants are using it. As for the usability of the specific coins, like potcoin and many others, I can't really tell you if they are good investments or not. In theory, I don't think they can do anything better than bitcoin, so I'm not sure they are really needed. They've grown quite popular though, so maybe I'm missing something here as well.

I think Pot Coin very good coin for this sector. They already has some partnerships and good team. Their main competitor is CANN, but I don't believe in that coin. I think POT good for long term ivenstments.

potcoin is very popular even dennis robman using it