[POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦

[24Kilo]

At least someone knows what's going on.  But, if i was one of the Dev's, I wouldn't have let this happen to my coin.  I would have halved the coin, raised the difficultly making sure mining profits are nothing.  This would have forced them out of the coin immediately.  But no, we let them come in and raise the outstanding coins from 40 million to 60 million in just a few weeks.  Still, no halving and now difficulty will be very low.  Big farm miners are going to come back strong now and finally kill the coin.  I have been trying to tell them, but nothing is happening.  

You are suggesting subjecting POT to even more manipulation and unsustainable pricing.

No mining profit = no miners = no network hash-rate = no coin! You are wanting an impossible situation.

Low difficulty indicates that there is less interest in mining POT, not more! And low difficulty is not going to attract the short-term miners and multi-pools if the profits are not there, no matter the difficulty.

What you suggest would surely kill POT.

Go read the KDC(KlondikeCoin) thread... a few agitators there convinced the devs to do exactly what you are proposing... the price has not compensated for the reward reduction, difficulty is averaging about 2, and the miners have abandoned the coin, leaving the network unsecure and vulnerable to 51% attack, complete disaster.

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[Sardine]

Nah actually I was here when the price started going down and it's due to the developers announcement that we wouldn't be switching to an asic resistant algorithm. I don't think this is fair for the people who have been with the coin since day one. Coins done for it at this rate which is sad =(

potcoin has always been a scrypt coin.
Why did the price go to 2000+?
Why, 2 weeks ago, no one seemed upset about scrypt?
Two weeks ago, plenty of people were paying 2000+.
But suddenly, people are afraid of scrypt coins?
Your explanation is unlikely to be true.
The people who pumped potcoin to 2000+ and the people who bought potcoins at 2000+, these people don't care about the algorithm.
The big holders are panicking now and dumping.  The mine&dumpers are panicking and dumping and hopefully leaving.
The big buyers wont return until there is good news (or until the next pump).  We wait for news.

[lucienlu]

is it a good coin?

[miau]

WARNING  -  CRYPTORUSH

things have been fishy for some time on cryptorush.several people including me lost money there and have been misstreated by their stuff.

the situation is bad,check this:

http://pastebin.com/eLkPxLWi

[bigc1984]

I appreciate your insight and obvious integrity;  I will wait  till down around 800 (or a "touch" higher) where I am going to average down... Thank you!

If you are not a miner, I would start buying in at 1000, not a lot, but small buys here and there. But be warned, I could be all wrong the price could drop to zero. You use your best judgement and due diligence. I am not an expert by any stretch of the imagination.

I know for a fact, that while I have great confidence in POT and the dev team, any delay of infrastructure is going to create heavy downward pressure on the price. So while I don't expect the price to fall much past 800 even on a bad day. If there is significant delays, then just like the effect of Cryptsy/Coinwarz has had on the price, delays will definitely increase downward price pressure.

So use caution and good judgement.

When POT first came out and before it was on a single exchange we did all the trading on reddit and we use to get .25btc per 10k potcoin during the first couple weeks after release.

POT was just fine on Cryptorush,

I stopped reading there. You just discredited yourself and now it's obvious you have no idea what you are talking about. Cryptorush? Seriously? The scam exchange? I'm all for smoking pot but when you  say things like this you make pot heads look stupid.

[miau]

take a look at cryptorush balances. POT deamon difference is huge!
https://i.imgur.com/sfhgQgV.png?1

[Chronikka]

take a look at cryptorush balances. POT deamon difference is huge!

Almost 5 million coins...that will definitely hurt the market if they dump them all at once

WARNING  -  CRYPTORUSH

things have been fishy for some time on cryptorush.several people including me lost money there and have been misstreated by their stuff.

the situation is bad,check this:

http://pastebin.com/eLkPxLWi

Yeah its been operating strangely for some time. Claim they were hacked. Same old story.

Probably somebody cut and run with the money and the rest of the staff is left trying to make the exchange work. This is why we need lots of exchanges, to keep the flow of coins decentralized and minimize losses when one goes down.

[Gxname]

pot.pool.mn invites you to mine PotCoin! 0% fee!
At pool.mn branded pools you will enjoy 0% fee and 100% uptime as ~2Gh/s worth of miners all over the world do!

Support

[Kestrel71]

pot.pool.mn invites you to mine PotCoin! 0% fee!
At pool.mn branded pools you will enjoy 0% fee and 100% uptime as ~2Gh/s worth of miners all over the world do!
 
 

Do not use this pool.  owner is a known scammer.  use at your own risk.  This guy makes a new account constantly trying to promote his lame pools.

[DubFX]

WARNING  -  CRYPTORUSH

things have been fishy for some time on cryptorush.several people including me lost money there and have been misstreated by their stuff.

the situation is bad,check this:

http://pastebin.com/eLkPxLWi

Wow.

Is this for real or just FUD?

[miau]

its real, you will find planty info arround

[DubFX]

its real, you will find planty info arround

Oh i see now, somehow i've mistaken it with Poloniex in my mind thats why it didn't make sense for me

[anyone4u]

WARNING  -  CRYPTORUSH

things have been fishy for some time on cryptorush.several people including me lost money there and have been misstreated by their stuff.

the situation is bad,check this:

http://pastebin.com/eLkPxLWi

Wow.

Is this for real or just FUD?

http://www.use.com/4ea88eb9b486df1f71ee criptorush balance (reupload)
Official BlackCoin statement from CryptoRush - Very shocking information
https://bitcointalk.org/index.php?topic=529779.0

So now we have some thief with potentially millions/billions of dollars which he got from dishonesty.
4,896,645.83406 Potcoins missing from cryptorush

2709 ltc missing
$44,021 currently missing from just litecoin alone since price of ltc is $16.25 as I type this.

A digital bank robbery!

[jertsy]

Thanks for clearing things up. I heard so much conflicting information about this that I was not sure who to believe.

[24Kilo]

I stopped reading there. You just discredited yourself and now it's obvious you have no idea what you are talking about. Cryptorush? Seriously? The scam exchange? I'm all for smoking pot but when you  say things like this you make pot heads look stupid.

POT was doing fine on Cryptorush, not because of the underlying exchange, but because Cryptorush provided the right amount of liquidity for POT to grow organically. Substitute which ever one of the medium sized exchanges you prefer in place of Cryptorush.

I have an innate distrust for all of the recent exchanges that have cropped up... Cryptorush, SwissCEX, coinmarket, Poloniex, Openex, Mintpal... the list is as long as your arm. The only exchange with a real track record is the much hated and despised Cryptsy, which according many people here on this forum is huge scam as well.

So think about the fundamentals of my argument... I was not promoting Cryptorush as an exchange, but instead referring to the fact that size and volume of Cryptorush as an exchange meshed well with the maturity of the POT market.

As for exchanges... I refuse to keep any funds on any exchanges... as I believe that all the new exchanges will be exposed to immense hacking pressure and most will fall over. So be diligent in guarding your coins.

[zedicus]

4,896,645.83406 Potcoins missing from cryptorush
 F****!!!  Really?


 


 

[24Kilo]

Brace yourself for the price of POT to take a real hammering unless the thief is a 'long-term investor'.

[dogechode]

I stopped reading there. You just discredited yourself and now it's obvious you have no idea what you are talking about. Cryptorush? Seriously? The scam exchange? I'm all for smoking pot but when you  say things like this you make pot heads look stupid.

POT was doing fine on Cryptorush, not because of the underlying exchange, but because Cryptorush provided the right amount of liquidity for POT to grow organically. Substitute which ever one of the medium sized exchanges you prefer in place of Cryptorush.

I have an innate distrust for all of the recent exchanges that have cropped up... Cryptorush, SwissCEX, coinmarket, Poloniex, Openex, Mintpal... the list is as long as your arm. The only exchange with a real track record is the much hated and despised Cryptsy, which according many people here on this forum is huge scam as well.

So think about the fundamentals of my argument... I was not promoting Cryptorush as an exchange, but instead referring to the fact that size and volume of Cryptorush as an exchange meshed well with the maturity of the POT market.

As for exchanges... I refuse to keep any funds on any exchanges... as I believe that all the new exchanges will be exposed to immense hacking pressure and most will fall over. So be diligent in guarding your coins.

25K, you make a lot of valid points. I have been stressing the importance of limiting the exchange exposure/volume that relatively new coins get, but no one wants to hear it.

I also used cryptorush as my primary exchange, and not because I thought it was the greatest design or most secure, but simply because it had a great match of volume (medium volume, which is better for me than massive volume) number of coins supported, reasonable fees, etc.

All exchanges right now are sketchy folks - deal with it. Kidding yourself into thinking that your exchange of choice will never get hacked or do something shady is naive.

[@msteramned]

CR has blocked all BTC withdrawals for the last couple of days. The only way to get BTC out was via another currency. I managed to get my money out only after going to LTC. Took a beating on the exchange rates and fees but at least I got most of it out before it went tits up.

If you have coins in there, get them out ASAP would be my advice.

[anyone4u]

CR has blocked all BTC withdrawals for the last couple of days. The only way to get BTC out was via another currency. I managed to get my money out only after going to LTC. Took a beating on the exchange rates and fees but at least I got most of it out before it went tits up.

If you have coins in there, get them out ASAP would be my advice.

new owner Danny speaks http://pastebin.com/K7cGNy15
Danny (new ceo) claims he is injectins some bitcoins in there or did you mean blackcoins? He said they are not blocked nor ltc but they just don't/didn't have any. At least atm they are not just simply folding up. I am going to trade there but not just keep lots in there for a while. Maybe put in some, trade, then not keep too much in there for a while till it can be shown they are safe, how that might be I dunno. The exchange does have a lot of volume/users as others have pointed out.