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Chronikka
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March 19, 2014, 03:31:54 PM
Last edit: March 19, 2014, 10:07:33 PM by Chronikka |
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FUD, why 24 hours before the mintpal announcement POT was trading under 1000 Satoshi and there was a pump likely because of the mintcoin addition could have just been a coincidence. That link you provided talks about the 3 days after being added to mintcoin, well since it has been on mintcoin it has not gone below 1100 satoshi which it was at 700 satoshi a less than 3 days before hand. The way I see it mintpal has elevated the Potcoin floor. Mintpal certainly increased exposure of this coin. It didn't take long for Pot trade volume on Mintpal to double that of crypto rush (less than a day I think): http://coinmarketcap.com/volume.html#potThe price is going to fluctuate. It just is. There are going to be bad days when a bunch of large holders are selling. There are going to be good days when people are buying, especially after positive news. What hurts this coin more than anything at all...are the people who are trying to short it. Forget about exchanges and everything else...the people who are going to Mintpal for the sake of shorting this coin to make a few bucks are the problem...not the exchange itself. They have no vested interest in this coin besides how much BTC its worth. BTW those are the people who come in here crying about the price  |
"The true sign of intelligence is not knowledge but imagination" -Albert Einstein
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drwoo
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March 19, 2014, 04:24:39 PM
Last edit: March 19, 2014, 05:04:36 PM by drwoo |
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flipme
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March 19, 2014, 09:16:28 PM |
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Yeah! This is indeed an amazing explanation of why this coin will take off like nothing before it.  |
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sirsmokesalot
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March 19, 2014, 09:24:24 PM |
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I think this is a matter of perception. At the moment the price has actually stayed @ 1500, where it was hovering @ 900 for quite some time before hand. One could argue that being added to mintpal might have helped the coin reach a new audience and further help stabilize the price at the current 1500 sat as i haven't seen it dip anywhere close to where it was before it was added. I get that you are concerned about the future of the coin but it can only be day traded into oblivion if it is sold to begin with. I for one am holding my coin. 51,562,560 is the current number of potcoins, how much of the current market is for sale? You seem to keep relating the value of the coin to being on exchanges. Like some how potcoin is worth more if it is on fewer exchanges. Potcoin will derive value from real world use and application. The only coins that have ever been driven to obscurity are garbage coins that had no future anyway. If they had some type of value outside of being trading coins, ie pump and dumps, they wouldn't have ever been dumped because they would have had value outside of being dumped. Don't worry so much, if the coin has underlying value it will be able to withstand the little hiccups that come along with day trading. |
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@msteramned
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March 20, 2014, 08:37:26 AM |
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Well done to those involved in spreading the word. More like this please, this is the way to ensure the long term relevance and value of our favourite coin, keep it in the public eye and spread the word amongst the media. I'd love to hear if anything happened on the recent expedition to Amsterdam. Apart from the obvious indulgence of local delights I mean! Did anyone talk to any coffeeshop owners or suppliers in the world's pot capital? Kudo's to the dev and marketing team. |
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vesperwillow
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March 20, 2014, 03:40:14 PM |
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Dispensaries accept cc now. Cash issue solved
Um, no they don't. If VISA or MC catch a dispensary using their systems they fire the company that set up the account. What many dispensaries are now doing is using a "square" reader attached to an I-phone. But they do not have the blessing of the credit card companies. Until the US legislature changes the law it will remain illegal for dispensaries to transact as every time they do they are laundering money. (FWIW: PotCoin does not fix this problem, drug dealers using it as a substitute for money are still laundering). Using Square is still considered laundering, and it's against the TOS of Square. Unless they've changed their terms of service recently. |
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mewhy
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March 20, 2014, 04:11:20 PM |
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No we don't. Let them pick other coins for whales to pump and dump. Potcoin is slowly building itself up. Value will come naturally. |
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Chronikka
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March 20, 2014, 04:38:16 PM |
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Thanks for these. Its not intended to but it highlights the main difference between POT and DOPE...which is that POT is targeting the now soon to be legal (some places already is) marijuana industry. The dope developers have no such goals and could care less if the coin is used for illegal purchases outside of the marijuana industry. I think that will hurt dopecoin big time. There are other coins more suited for what dopecoin aims to achieve (i.e. darkcoin) |
"The true sign of intelligence is not knowledge but imagination" -Albert Einstein
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VarDiff
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March 20, 2014, 04:57:37 PM |
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 PotCoin added to altcoins database You can vote for coins and mining pools. Good luck & have fun! |
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tecnopollo
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March 20, 2014, 06:35:28 PM |
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interesting good news for potcoin, value slow its better |
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drwoo
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March 21, 2014, 02:12:48 AM |
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Can somebody tell me what problem potcoin solves?
Why does it even have to solve a problem? They are attempting to solve a problem, but that doesn't mean they will. The bitcoin payment processors are black balling the marijuana industry just like banks. Potcoin wants to solve this issue, the investors know this in advanced. It may happen. I like to use potcoin as my tipping coin of choice. Its way more fun to smoke someone out with some POT than too toss some doge for btc someone's way. |
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zedicus
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March 21, 2014, 02:17:02 AM |
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The bitcoin payment processors are black balling the marijuana industry just like banks.
Got a link for that? |
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forzendiablo
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Merit: 1000
the grandpa of cryptos
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March 21, 2014, 02:47:13 AM |
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POT is almost same price as SUN.. wth _)
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yolo
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mewhy
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March 21, 2014, 03:19:19 AM |
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Can somebody tell me what problem potcoin solves?
Why does it even have to solve a problem? They are attempting to solve a problem, but that doesn't mean they will. The bitcoin payment processors are black balling the marijuana industry just like banks. Potcoin wants to solve this issue, the investors know this in advanced. It may happen. I like to use potcoin as my tipping coin of choice. Its way more fun to smoke someone out with some POT than too toss some doge for btc someone's way. They have KYC in place and have to do so. The processors turn bitcoin into fiat on the fly. They can't deal with these marijuana places due to federal law. The problem is the government puts it on financial institutions to KYC and be the first line of defense against money laundering. Institutions would rather play it safe than risk the wrath of the federal government. It's going to be interesting how this plays out, but it definitely leaves a big market for Potcoin. Larger operations won't want to risk messing up a bitcoin account, a smaller operation might risk dealing with Potcoin. Bitcoin processors aren't going to deal with the marijuana industry. So who will? Enter Potcoin. Once everything gets figured out, Potcoin will be huge. This coin came around at the right time to be huge. |
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kryptologist
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March 21, 2014, 03:28:27 AM |
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for the life of me I can't get my Potcoin wallet to sync. I used the wallet many times in the past and all of the sudden it won't sync for the past 4 days? Anyone know what my problem might be?
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zedicus
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March 21, 2014, 04:15:21 AM |
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Can somebody tell me what problem potcoin solves?
Why does it even have to solve a problem? They are attempting to solve a problem, but that doesn't mean they will. The bitcoin payment processors are black balling the marijuana industry just like banks. Potcoin wants to solve this issue, the investors know this in advanced. It may happen. I like to use potcoin as my tipping coin of choice. Its way more fun to smoke someone out with some POT than too toss some doge for btc someone's way. They have KYC in place and have to do so. The processors turn bitcoin into fiat on the fly. They can't deal with these marijuana places due to federal law. The problem is the government puts it on financial institutions to KYC and be the first line of defense against money laundering. Institutions would rather play it safe than risk the wrath of the federal government. It's going to be interesting how this plays out, but it definitely leaves a big market for Potcoin. Larger operations won't want to risk messing up a bitcoin account, a smaller operation might risk dealing with Potcoin. Bitcoin processors aren't going to deal with the marijuana industry. So who will? Enter Potcoin. Once everything gets figured out, Potcoin will be huge. This coin came around at the right time to be huge. A standardized crypto currency for the industry that can alleviate security issues such as large amounts of cash that banks are declining to take because of not only the stance on Marijuana by the federal government but because the cash smells like weed and makes the entire bank smell like weed too!!! Thats what potcoins is for!! Not so circumvent KYC laws that institutions abide by so that they can remain legal. If your thinking about it any other way you are in for a rude awakening! |
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Viceroy
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March 21, 2014, 05:01:23 AM |
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Not sure I understand what you are saying, zedicus.
Potcoin solves nothing because it is just a substitute for cash and these dispensary operators are all breaking the Federal law.
If Potcoin becomes the solution then Potcoin is being used to launder money. It's straight forward.
KYC and AML rules and dispensaries are diametrically opposed.
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zedicus
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March 21, 2014, 05:15:43 AM |
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Not sure I understand what you are saying, zedicus.
Potcoin solves nothing because it is just a substitute for cash and these dispensary operators are all breaking the Federal law.
If Potcoin becomes the solution then Potcoin is being used to launder money. It's straight forward.
KYC and AML rules and dispensaries are diametrically opposed.
Yep , no way around it.. Federally illegal and all that. but wait, if whole states are ignoring the federal law .., with more states in route with the same road map.. then it looks like we have a grey area. I think they like the grey area so they can selectively apply the law or you know.. stop all the "money laundering" selectively.
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pixskull
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We support you for as long as you need.
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March 21, 2014, 07:47:13 AM |
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Hey everyone, Love the concept of this coin! Just found out about it because of dopecoin seeing our custom engraved pipes. And after the Fox news report came out, I def wanted to say congrats and check y'all out! Check it out and let me know if we can help this community at all, and if there is a place for the business my girl and I have! http://www.reddit.com/r/potcoin/comments/20z95o/custom_engraved_hand_blown_glass_pipes/Love the design, and the concept! And hope we can help prosper this coin with you! PGwpHfHW4XyGTzJ2gC5CXYopzMF6qZFE9VFirst try to get some POT Also any reason the wallet wouldn't sync on windows? |
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