Potcoin (POT) | First Human to Smoke Crypto! | NSFW  https://www.youtube.com/watch?v=RAkcm0nFOI8In this May 28th edition of the Goldcoin™ Report, Microguy (aka the flower child of crypto) becomes the first human being to smoke a cryptocurrency. Follow the instructions in the video and you could win 5000 Potcoins! Don't miss a moment of this "mile high" version of the Goldcoin report. Note: I attempted to post this in /r/potcoin but the post was apparently not approved. I'll post a scanned image of the rolling paper tonight in this thread at precisely 11:00pm New York time. The first person to import the private key from the scanned rolling paper will win 5000 FREE Potcoins!Please remember to sweep the key or your pot will be stolen! Congratulations on being the first to smoke some POT  I'm curious...what does a virtual currency taste like? |
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That only applies when filing your taxes. "The term "money transmission services" means "the acceptance of currency, funds, or other value that substitutes for currency from one person and the transmission of currency, funds, or other value that substitutes for currency to another location or person by any means." http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.htmlBasically it means transmitting money doesn't have to occur within a traditional currency. The medium just has to hold some value. |
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I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots
I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away. And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far. What kind of laws are you referring to? I think dollars are free to exchange in the Eurozone, and especially if they are working together with a licensed bank which it appears to by the access to chipcards. This is Germany, remember, not Texas! In order to exchange currency you need to register as a money transmitter. They plan to operate a website where this exchange takes place. In order for it to be legal, they need to register appropriately and they will be subject to a number of regulations/taxes http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.htmlThe relevant part here is under "Administrators and Exchangers of Virtual Currency" in the document. Where they are located does not matter if they conduct any business at all in the US. I don't know what other country's policies are but FINCEN will ruin your day here in the US. Also, VISA is an American company and subject to the same laws. If they get wind of this happening they will shut it down immediately. They could be on the hook for money laundering charges if something goes bad. I know you Americans like to apply your laws on Europe, but the world isn't yours just yet. Visa is just a service making agreed currencies available for banks and it's the banks themselves that do the transaction in whatever currency. This "exchange" has nothing to do with Visa and I'm sure this coin provider has an agreement with a bank performing that last bit of the transaction. Finland has a Bitcoin ATM, did you know that? And don't forget that your states recently declared Bitcoin a "commodity". There's nothing more suspicious about paying dollars for Pure than paying dollars for rice... This might be a long and boring case for the courthouses, but this is more or less the arguments I would use to defend against your lawyer But thanks for the warning anyways, I'll be ready to sell in case it all goes pear-shaped I don't think you understand. Every country has laws just like this. This is how they prevent money laundering. I can only quote the laws in the US because those are the only ones I know. But as a user of PURE you would have very little to worry about. They don't care about users of the currency, instead they will go after whoever operates the website. Which is why I say it may be a scam. They probably know very well about the laws they are breaking, and are hoping to get as many suckers paying in as possible before they close shop. |
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Guys I would say that SYNC have the same developer as Pure which is not bad. I think he is behind CINNI and XLB too. The bad thing is if we waiting for some fixes because he works on other coins development. loljosh is the guy and you can check if you want. It seems that you can have your coin for not much BTChttps://bitcointalk.org/index.php?topic=466908.0... and only MsCollec can confirm or deny that. I pointed this thread out awhile ago and I was ignored. Oh well. But its clear the developer has moved on to his next project |
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I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots
I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away. And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far. What kind of laws are you referring to? I think dollars are free to exchange in the Eurozone, and especially if they are working together with a licensed bank which it appears to by the access to chipcards. This is Germany, remember, not Texas! In order to exchange currency you need to register as a money transmitter. They plan to operate a website where this exchange takes place. In order for it to be legal, they need to register appropriately and they will be subject to a number of regulations/taxes http://fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.htmlThe relevant part here is under "Administrators and Exchangers of Virtual Currency" in the document. Where they are located does not matter if they conduct any business at all in the US. I don't know what other country's policies are but FINCEN will ruin your day here in the US. Also, VISA is an American company and subject to the same laws. If they get wind of this happening they will shut it down immediately. They could be on the hook for money laundering charges if something goes bad. |
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The dev team chose not to ask anybody at first...they came right out and said they were going to halve the coin. Parts of the community were outraged and they decided to have a poll.
In my opinion the halving strategy should have been thought out from the launch. The first thing I noticed about this coin after it launched...no halving or any mechanism to reduce block rewards over time. It seemed odd. When it came time to actually implementing something we all had different opinions on how to do it.
On the first point, the push for halving was made HEAVILY on reddit well before the poll. Which is why I screamed for it after the halving announcement. But you can go back and look at reddit and see how many people pushed for it before the poll. I seriously questioned these peoples' crypto knowledge then, and I still do now. You don't shout for change just because you think something will go "to da moonz". I fully agree with the the first part of your second point, but there was a halving scheduled for POT. It's in the first post of this thread, as follows: Information
PoW algorithm: Scrypt
Premine: first 55 blocks where mined for checkpoints
Retarget: 107 blocks
Starting difficulty: 0.000
Max supply: 420 million
Reward halving interval: 840k blocks (~4.20 years) There was a halving in place. Why does everyone keep forgetting about that? It's in the github, the website, the ANN post... how can people miss that? -Fuse But that is my point...it was discussed on reddit and the dev ignored the naysayers. They just decided to halve the coin. Outrage ensued and they stepped back to actually listen. Or atleast they pretended to listen because they ended up doing the same thing anyway. The 840k block has always existed but it doesn't make any sense which is why I disregard it. At 840k blocks and 420 coins per block, thats 352 million coins which is more than 75% of the supply. So either it was always intended to halve the coin repeatedly in a short span (i.e. 4 times in a year) or the halving strategy was never set in stone and 840k block was just an estimate |
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I feel SYNC and PURE might be from the same dev. Look at the wallet screenshots
I would stay away from PURE...it screams scam worse than this one does. Even if its not a scam, the whole VISA card thing is a big red flag...basically the dev is trying to act like an exchange of currency between PURE and USD. That breaks all sorts of laws. Charlie Shrem (among others) is facing prison for this. Either the dev is not aware of what he is doing or is perfectly aware and does not care...either way its best to stay away. And its unlikely that one developer would steal a wallet from an obscure coin like Sync days after it was released. This is probably the same developer. Or at the very least somebody who has been heavily involved in Sync thus far. |
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One thought on the reddit thing, perhaps PotCoin puts more energy toward them because they are seen as the more public outlet of the community. IE, the most likely largest influence on the internet.
Not saying it's wise, just saying, maybe that's why..
The reddit page probably is the better place to interact with the community. Here we are limited to the rules of bitcointalk, which are not always friendly to alt coins. Information here gets lost in the waves of posts about other alt coins. I generally tell people to check out the reddit page before I tell them to come here. Especially if they don't know a lot about bitcoin to begin with.Most coins have their own set of forums. An "insert coin name here" talk.com like litecointalk or darkcointalk, but we don't. So the reddit page is the next best thing. Which is why it is ludicrous to ask them what should be done with the coin in regards to mining specifics. Why ask people what should happen to coin mining when they don't even understand coin mining? Am I the only one that sees that? -Fuse The dev team chose not to ask anybody at first...they came right out and said they were going to halve the coin. Parts of the community were outraged and they decided to have a poll. In my opinion the halving strategy should have been thought out from the launch. The first thing I noticed about this coin after it launched...no halving or any mechanism to reduce block rewards over time. It seemed odd. When it came time to actually implementing something we all had different opinions on how to do it. |
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I have a question, does it even matter that the coin number has been reduced except in the super long term vision? It seems to reach 80 million coins at this speed considering the 7% reduced coins each would have taken centuries or did I overread anything?
Number of coins means nothing by itself, as they are for all practical purposes infinitely divisible. Yeah, that's not the point. I mean would we even live to see darkcoin reaching 80 million coins by a 5 DRK/block reward formula with 7% decreasing coins each year? Does that matter? I'm sure plenty of bills will get printed long after we're all gone and it won't affect the currency. The point is that the rate of coins being minted is predictable. |
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One thought on the reddit thing, perhaps PotCoin puts more energy toward them because they are seen as the more public outlet of the community. IE, the most likely largest influence on the internet.
Not saying it's wise, just saying, maybe that's why..
The reddit page probably is the better place to interact with the community. Here we are limited to the rules of bitcointalk, which are not always friendly to alt coins. Information here gets lost in the waves of posts about other alt coins. I generally tell people to check out the reddit page before I tell them to come here. Especially if they don't know a lot about bitcoin to begin with. Most coins have their own set of forums. An "insert coin name here" talk.com like litecointalk or darkcointalk, but we don't. So the reddit page is the next best thing. |
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The OP can lock this thread and start again with a moderated forum.
I never liked that idea...but this thread, more than any, is hijacked by everyone - promoting xyz coin, trying to force the price of drk down, etc. we've even had people openly saying they got paid to troll.
I don't mind anyone that is here to challenge, raise difficult questions, etc.
But the open nature of the community has been hijacked.
Another thread would only cause confusion. Darkcoin has its own forums doesn't it? So that best thing is to always remind people of the darkcoin forums. But I wouldn't start creating new threads here at bitcointalk, because many people will feel confused. This thread is like a blockchain, like a time document explaining everything from the past to the present. So I wouldn't start "forking" the thread if I were the moderator. I would keep on growing this thread, just let the trolls selfdestruct or lose interest sooner or later. i tought it might be possible to SWITCH the existing forum to moderated ... without forking it... is it possible? I agree it wouldnt be good to start a new forum here.... Sorry but a new thread is needed...normally I'm a bystander on this thread but it seems like every time I come in here I have to wade through pages of bs, fud, and generally worthless comments. 1600+ pages on this thread and only a handful of them seem to contain anything useful. Its discouraging to anybody trying to find information about this coin, when they have to read through all this junk. |
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LMFAO at the last few pages!!!!!! Anyone know of any coin that stakes partial coins and guarantees stake in 30days. BC doesnt have a max age try to stake just one BC and it will tell you you have to wait like 10,000 days to stake. 1 whole sync is cheap right now. Doesnt take millions to get over that .3 mark its like .06 btc which is about $35. WoW, you really have to be rich and affluent to own this coin, Damn! (sarcasm) This coin is supposed to be rare and exclusive that is the whole allure of the coin and if you want to be part of it buy now while they are cheap.
Your argument is only valid because sync is so low right now. When (or rather if...) the price goes up you can't stake with a $35 purchase. This is the equivalent of a bank only giving you interest if your balance is above a certain amount. But they don't tell you that until after your account is already open. But really its worse than that. Its as if the bank took your interest and gave it to somebody else, somebody who happens to have more money in their account. Who trusts a bank like that? If you do then this coin is for you. |
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OK, I see a business opportunity coming up...
All those with less than 0.3 Sync that really want to stake can have 50% stake/interest for one year in Kenta-bank..
50% per year, that's not so bad? That's more even than the dodgiest Eastern-European bank would ever give you for Rubles...
Deposits can be sent to my Sync-address in my signature below followed by a comment (including your Sync return address) to bitmessage address BM-2cWSqG7bAYiSB7MmjeoS162osUYMhF5ZzT
Interesting idea to help the problem. Like a fund for buying stocks and increasing the value. I think you'd need some kind of escrow to get people to trust it. Well, but if the Sync were stuck in Escrow, I wouldn't be able to stake, would I?  The escrow would be a wallet, of course. But I would need all the deposits to go to one huge wallet, not to different wallets controlled by Escrows. And I would want to control it by collecting the small dust coming out into new wallets and so on. A way to implement this would be multi sig addresses. You can't give everybody who pays into the wallet a vote, but several independent people can have access to the address to prevent any one person from making off with the money. This would require code changes to implement though...nothing serious it already exists in Bitcoin. But the likelihood of this development team taking that on is slim to none. if they don't even know how to add checkpoints, i seriously doubt they could implement the code needed to cover this.  bootstrap, anyone? Oh I have no doubt they would fail to pull it off...just saying that's a simple way to build trust for a pooled wallet. |
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OK, I see a business opportunity coming up...
All those with less than 0.3 Sync that really want to stake can have 50% stake/interest for one year in Kenta-bank..
50% per year, that's not so bad? That's more even than the dodgiest Eastern-European bank would ever give you for Rubles...
Deposits can be sent to my Sync-address in my signature below followed by a comment (including your Sync return address) to bitmessage address BM-2cWSqG7bAYiSB7MmjeoS162osUYMhF5ZzT
Interesting idea to help the problem. Like a fund for buying stocks and increasing the value. I think you'd need some kind of escrow to get people to trust it. Well, but if the Sync were stuck in Escrow, I wouldn't be able to stake, would I? The escrow would be a wallet, of course. But I would need all the deposits to go to one huge wallet, not to different wallets controlled by Escrows. And I would want to control it by collecting the small dust coming out into new wallets and so on. A way to implement this would be multi sig addresses. You can't give everybody who pays into the wallet a vote, but several independent people can have access to the address to prevent any one person from making off with the money. This would require code changes to implement though...nothing serious it already exists in Bitcoin. But the likelihood of this development team taking that on is slim to none. |
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Question for MsCollec...why the .3 sync limit?
No bs...how about an educated response to why that limit was chosen. Otherwise there is no harm in removing it. let people get what they are entitled to.
seriously? you expect to get a response? No, I think he would delete the question before he responded but I had to ask. |
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Question for MsCollec...why the .3 sync limit?
No bs...how about an educated response to why that limit was chosen. Otherwise there is no harm in removing it. let people get what they are entitled to.
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Well it's clear all you are doing is attacking me, not actually addressing my comment that potcoin is/was attempting to be the bank for the industry. Go back a few posts, I'm not the only one who is confused about the statement that potcoin aims to be the industry choice for banking and now is coming out with press releases that says they are maybe going to do some little tiny fraction of the t-shit business at one dispensary.
That's not press worthy.
And you feel the need to attack me because I brought this to the fore. Go back to your bridge.
I addressed it right away. I told you to be patient, just like I did the last time you asked similar questions. You just don't like that response. |
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Sticks and stones may break my bones but your attacking me will not pump the price of potcoin. Seriously.
Who said anything about price? Just you. Maybe if you throw enough crap against a wall some of it will stick? |
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Potcoin is direct competition to the platform you support, Mediswipe. No idea what your involvement in that company is but frankly its irrelevant. But that's why you're in here isn't it? To troll your competition.
Wow, is that all you got? Attack anyone questioning the greatness of potcoin? It's not possible there are actually thinking people who question the reason for this also-ran? Relax, I have nothing to do with mediwipe or either of the other two links I posted. My point, since the beginning of potcoin, is that there is no point for potcoin. If potcoin aims to be the bank then they are failing miserably. People who ask questions are not always FUD. But it's easy for you to try to discredit me by using that word. Now you don't need to attack me just because I question the purpose of the coin oh great namecaller. * Viceroy thinks you hold too many potcoin and dream of it reaching some astronomical height which it is highly unlikely to ever attain I called you a troll because you are in fact...a troll. Seriously you're now referring to yourself in the third person here. Not to mention all your talk about how involved you are and how much more aware you are compared to everybody in Colorado. You want to discuss facts but I have yet to see evidence of any sort you are as influential as you say. Just some spouting off about how useless the coin is. That makes you a troll, and why I called you one. |
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Due to the low supply of the coin , there are some changes to minting
Coins less than 0.3 syncs won't get stake at all
coins that are 0.3 Sync will start staking after 3 days.
1 Sync coins will start staking after 1 day and bigger ones a bit sooner, up to 6 hours
let me know if your coins falls under this rules and if you are able or unable to stake
that is a bunch of goddamn motherfucking bullshit. it seems the rich get richer no matter what the fuck happens. Fuck this coin and you motherfuckers. I sold all of my other coins to get just .107 of this coin xand now it won't even stake?! Fuck you. Honestly...your .107sync would only net you .009sync a month. At current prices that equates too about 2 dollars a month that you are bitching about. and what if all your wet dreams come true and sync really goes to 10BTC? think about it, I'm sure there are a lot of ppl getting nice fucked in the ass after they helped to mine the coin! The point is that its basically wealth discrimination. Only the rich are able to get richer. Maybe one person in here is complaining about their 2 dollars but in reality there are many more people in the same situation. That 2 dollars begins to add up across hundreds or thousands of users. That's money that should be divided up among all the users with small holdings, but instead it goes to the wallets of the ones above the threshold. The rich get richer at the expense of the poor. |
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