At this point there are over 90 million potcoins out and 907K are mined everyday; the coin has just passed 100 days since launch. The demand by users has not started to begin to draw coins out of the mining and speculators hands and into users wallets and it may never. But if it does, people who bought coins at the current price of a third of a cent are going to be very happy and those selling them will be kicking themselves.
Marijuana is big business that has a challenge with all the cash that comes in and right now there are no good alternatives (retail stores are paying people and the percentage to change cash to money orders that at least can be mailed). Bitcoins take an hour and a half before you can move the money on. Just try and get bitcoins into your Cryptsy account instantly to use them to see how long it takes before they are ready to make purchases. If Potcoins can achieve a critical mass of use they solve several problems:
1. Immediate secure anonymous transactions that a store can verify and send on to their growers, or a driver can accept via phone and send a payment back to their supplier.
2. Reduced robbery risk with reduced cash and the ability to immediately move payments so store wallets don't even have to have large balances. Users also don't have to carry around all that cash when making purchases.
3. Avoiding a federally regulated banking system that considers state-legalized and even medical marijuana criminal at the federal level.
Where it all needs to start is what the devs are working on: getting retail outlets to accept the coins. Given the hassle, risk, extra labor required to guard and convert cash, and the percentage to change cash to something like money orders, stores could probably offer 10% more pot if you pay with potcoins and not be out. But then even after stores accept the coin, there needs to be an incentive for buyers to show up with coins not cash.
Rather than focusing just on the price we need to show the clear advantages -- Show people how a marijuana delivery guy can avoid having thousands of dollars in cash and make fewer trips by paying suppliers remotely. Show how stores can stop paying for a full-time person to go back and forth with cash to money orders all day.
We need to make the benefits of using potcoins clear.
I think you said everything you needed to say in line 1. Nearly 1 million coins per day at this rate, with 90 million in existence. All 420 Million will be in circulation by this time next year at that rate. Our supply of coins is far exceeding the demand right now. |
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WOW, you guys cant read can you. Im not saying Cul had anything to do with my risers fucking up, im saying that the risers he gets from his supplier are faulty. And to the idiot who says i dont know what i am doing ? Right, because once a video card gets running with proper cooling (not max fan speed), and all of a sudden fan starts dieing, it must be something i did right? Moron, 270s by MSI are plagued by this issue, go read around.
edit: and the risers ARE shit, for one, they sit loosely in the PCI slot, compared to the others i got, they go in firm with little play. I am not saying CUL's character is bad, im just letting people know my experience that the parts i GOT , risers and MSI cards are fucking shit. That's all. Plus i had a bad PSu from cul, i warranty'd by myself, so from the cards + motherboard + ram + risers + PSU, i bought, cards and risers were the worst. The seller is a good guy tho but we are not talking about that.
So he's a great guy and all but you come in here trolling his thread like a moron? I'm guessing you bought sata cables. If so read this: http://www.reddit.com/r/litecoinmining/comments/23o8yo/burned_through_sata_powered_riser_on_r9_270/If not then you probably didn't undervolt your cards properly. If you did there is no way you would be drawing 50+ watt through the riser. |
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Im hesitant purchasing from you again . The 270's i bought, EVERY SINGLE FAN DIED, Not one card with working fans, thats not a knock to you since obviously MSI and its shit quality is at fault here. Here is the thing, EVERY SINGLE riser you gave me is burnt, i had to replace each one of them with better quality risers, while your character as a seller is good, the parts you sell are shit bro. I'm just letting people know, warrantying all the way to taiwan would be a straight up bitch.
I think you just don't know what you're doing...I've got the same MSI R9 270s and the same risers bought right here. No problems. |
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Can you do escrow?
Yes if you agree to pay escrow fees. I'll leave it up to you to choose a service or reputable member here. |
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I think they might play with the idea but how would you pay listers of products? Would you convert to fiat? It seems like a strange way to do business. i.e. accept BTC for payment then convert it into paypal? Although theoretically they could just keep the BTC for ever and never use it. A relatively cheap way to hoard it to be never used again?
What they would do is integrate Bitcoin into Paypal. Essentially they could turn Paypal into a Bitcoin web wallet, where you deposit Bitcoin just like USD. When you go to check out on Ebay or any other site, you can choose Bitcoin or USD, but its still through Paypal...so they can continue to levy their fees. This way Ebay can accept Bitcoin transactions, but still force the buyer to go through Paypal. |
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Now asking 1.5 BTC. Will consider reasonable offers for other crypto's too. (LTC, PPC, etc)
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Bump. Now Asking 1.5 BTC or reasonable offers. I will consider other crypto's as well.
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And my threats are all legal threats which I can back up and are justified given you have robbed me and others with lying made up news.
Don't make it sound like you're scared now from the big bad wolf.
When you commit fraud, lie and steal from people, eventually you run into a wolf.
woof woof
This one I had to quote...he's barking at you now Or woofing...  |
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I will give you 24 hours to provide simple proof before I make it rain legal fire on your POT scam.
P.S. I'm not asking, I'm demanding, as I have the legal right to do.
You'll be seeing a whole lot of me.
That ignore button over there is looking pretty good  Ignored. Tell me if he says anything funny You got it |
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I will give you 24 hours to provide simple proof before I make it rain legal fire on your POT scam.
P.S. I'm not asking, I'm demanding, as I have the legal right to do.
You'll be seeing a whole lot of me.
That ignore button over there is looking pretty good |
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moneys not in retail. Ebay/Amazon, would not benefit BTC much inmho
It wouldn't benefit BTC? Are you nuts? Bitcoin is a currency, what good is it if we can't even buy things at two of the largest online retailers? retail, is a small part of the economy, ebay and amazon sell alot of plascraptic deprecating assets. Real money is in financial instruments, forex, appreciating assets etc. what does anyone even buy from ebay/amazon that is so essential? Forex in one day is near 3 Trillion. That's more than ebay+amazon+ whoever else you want to put in, in a day. ebay is worth what...6000 houses in a decent metro area, soo can house 18000 - 24000 people. That's not that much. It has nothing to do with the value of Ebay or any other retail company. It has nothing to do with how much money is in the retail industry. We are trying to create a decentralized CURRENCY. What is the number one thing we use currency for? To BUY things...Nobody will take Bitcoin seriously until every day online activities are seamless with bitcoin. That means retail purchases. |
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moneys not in retail. Ebay/Amazon, would not benefit BTC much inmho
It wouldn't benefit BTC? Are you nuts? Bitcoin is a currency, what good is it if we can't even buy things at two of the largest online retailers? |
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Since ebay owns PayPal, this is unlikely to happen.
This. Paypal are such fucking scammers. Just the other day i got a chargeback from a scammer (a buyer) for a 15$ sale and i was charged 10$ in reversal fees on top of that !! What a fucking joke. I had a chargeback from a buyer who said that it was a fraudulent purchase and I even had the delivery confirmation with a signature (and he signed it his name) That chargeback is successful even with that signed delivery confrimation?  That's Paypal for you...they pretty much automatically take the buyer's side in any conflict. And by extension, so does Ebay. Some time ago Ebay even removed the option for sellers to give negative feedback to buyers. Read their policies its ridiculous. That's why so many people are looking for alternatives. |
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Dear PotCoin Devs,
I have PM'd you but I haven't gotten any response from any of you.
Can you please post some kind of evidence showing that you have indeed received $100,000 in seed funding?
I have been involved in the stock market for over 20 years and I have NEVER seen secret seed funding rounds so I hope this isn't another ZETscam where the devs say they signed NDAs, and drag people around for months with lies after lies. I would not buy such a story and neither should anyone else.
Because real proof of such a large seed round [for an alt coin] would be a huge boon for POT and it would turn people like me into hardcore POTcoin investors.
Thank you!
Regards,
Vlad
Contact smokemon514 on /r/potcoinOr actually call the number: 1-844-POT-COIN. Devs are more active on reddit |
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The thing is that Paypal doesn't deal in actual currency but in debt so had they began accepting Bitcoin not a single thing would change, it would probably make Bitcoin worse due to fractional reserve banking, there would then be 50, 100, 500 million Bitcoins in "existence" since everyone would keep their balance on Paypal without having control over the private keys.
But they do deal in currency. You can "deposit" money into your Paypal account just like you would a bank account. Its not their money its yours. They are holding the funds until you spend it or withdraw it. Just like a bank. You can "deposit" debt, they don't accept currency deposits. You cannot send them the bills. Not true. https://www.paypal-cash.com/They don't have branches or atms like a normal bank, but they absolutely accept bills. You can also withdraw cash, or by check (not really cash...but close). Its just done at a service counter, at a place like CVS for example, instead of a typical bank branch. |
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The thing is that Paypal doesn't deal in actual currency but in debt so had they began accepting Bitcoin not a single thing would change, it would probably make Bitcoin worse due to fractional reserve banking, there would then be 50, 100, 500 million Bitcoins in "existence" since everyone would keep their balance on Paypal without having control over the private keys.
But they do deal in currency. You can "deposit" money into your Paypal account just like you would a bank account. Its not their money its yours. They are holding the funds until you spend it or withdraw it. Just like a bank. |
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eBay is the last resort for Bitcoin, since Paypal is there.
That's why I am saying again and again that we should not pickup the begging bowl and stand in front of Pierre Omidyar. We should start a similar venture which accepts Bitcoins... Earlier there was Bitmit... but it vanished without a trace. +1. It would create pressure for eBay to accept bitcoin, if we have more and bigger Bitmit-like sites. There are services like this out there. They are growing, but it takes time. Many of them don't just accept Bitcoin either but many other currencies. They are designed to be payment platforms, not limited to just one currency. coinpayments.net is an example |
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Since ebay owns PayPal, this is unlikely to happen.
Actually they will/have separated those 2 companies I believe. Paypal is considered a division of Ebay. A wholly owned subsidiary, operated by Ebay inc. There was a proposal from a 1% shareholder (Carl Icahn) like a month ago that would effectively separate the companies by creating a Paypal like spinoff. But Ebay's management disagreed and is urging other shareholders to vote against the proposal. |
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Paypal is not considered a bank but in many ways it operates like one. You can keep money in your account, spend it and accept money into the account like a bank . Also they offer debit card services, just like a bank would. The reality is Bitcoin and Paypal are direct competition. More so than fiat and Bitcoin. Paypal is an internet Payment processor, dealing in cash. Bitcoin is a currency and payment platform that seeks to circumvent the need for middlemen. Bitcoin is designed to cut companies like Paypal out of the picture. So in order for Ebay to accept Bitcoin, they will be making a conscious decision to accept less money via Paypal. I don't know if that is a good business decision for them. They pretty much have a lock down on their customer base by requiring Paypal on most transactions. And of course they levy a nice fee on all of those transactions. Why would they change that? If they did accept Bitcoin I can almost guarantee that they will have some sort of "service fee" attached to all bitcoin transactions in order to recoup lost Paypal money. |
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