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

[flipme]

So does this coin go the way of any other Scrypt shitcoin now?
Or are you gonna do something about the decline?

It looks less promising every day, since 4/20.
A 75% decline from the peak price is not really a milestone for popularity.
If you want to build confidence you should do something about it, or at least announce your willingness to do so.
Please describe to us, how you want to make a steady market for your product.

You could have changed the algo in the first place, but you declined, front out, no discussion.
Why? Is there something to the gossip you are dumping yourself?
This was all foreseeable. Fuck.

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[darkist]

So does this coin go the way of any other Scrypt shitcoin now?
Or are you gonna do something about the decline?

It looks less promising every day, since 4/20.
A 75% decline from the peak price is not really a milestone for popularity.
If you want to build confidence you should do something about it, or at least announce your willingness to do so.
Please describe to us, how you want to make a steady market for your product.

You could have changed the algo in the first place, but you declined, front out, no discussion.
Why? Is there something to the gossip you are dumping yourself?
This was all foreseeable. Fuck.

Ive stopped mining tbh, as every alt coin ive mined has steadily gone down since hitting markets, i hoped Pot would be different.
Last i checked after electricity i would make £115 a year mining pot, i can make more than that botting world of warcraft for gold.

[sirsmokesalot]

So does this coin go the way of any other Scrypt shitcoin now?
Or are you gonna do something about the decline?

It looks less promising every day, since 4/20.
A 75% decline from the peak price is not really a milestone for popularity.
If you want to build confidence you should do something about it, or at least announce your willingness to do so.
Please describe to us, how you want to make a steady market for your product.

You could have changed the algo in the first place, but you declined, front out, no discussion.
Why? Is there something to the gossip you are dumping yourself?
This was all foreseeable. Fuck.

Lmfao, just get out of the crypto game. You are too frail to handle the ups and downs. What would x-11 done for the current state of the coin. These alts are in turmoil because the price of btc has dropped and is still dropping. DURRHHH. Ohhh black coins awesome fucking usb thumb drive that looks like a credit card. OMFG you mean it has a wallet that runs it's self when you plug it in?!?!! WOW!

You seem to fucking hurt over the fact that they didn't switch algos. Is there a handful of you morons who were hoping to pump potcoin and got burned buying it at the peak? Or is it that you mined so much of it that you want the algo to switch so everyone in the future has a harder time obtaining the coin and you have a massive payday, that is what seems more likely. Why else would any asshole cry so hard about people having access to the coin. Why are you so hurt, what is wrong, tell me, let me help you. Take a knee and let me help mend your broken heart.

The 75% decline is nothing because the hype artificially pushed the value of the coin up over 100% of the value it was before the hype. 

So tell the world. What should potcoin be worth. The devs have not said or done anything that make them suspect.

What should this coin be worth, since you know, tell us.

[sirsmokesalot]

Ive stopped mining tbh, as every alt coin ive mined has steadily gone down since hitting markets, i hoped Pot would be different.
Last i checked after electricity i would make £115 a year mining pot, i can make more than that botting world of warcraft for gold.

That is not untrue for me though, i have stopped mining potcoin. That doesn't mean i am not holding and buying, i am just mining other coins to get potcoin with. Which i don't see as a bad thing, if enough people have enough interest to mine the coin so hard, given the amount of hash on the coin it is severely undervalued. It will either fade into obscurity, or rise to be a king. I am leaning more towards the latter, but in this world of uncertainty ya can never be too sure.

I beg to ask the question, what value do people hope to see with potcoin? I see three or four years from now being able to grab a gram with a potcoin, of course i estimated that price to be @ 5 bucks a gram whole sale when it is legalized and booming.

BTC was around for YEARS before it was anything substantial, and really, it's fame and notoriety is due to the silk road. You know btc had commodities backing it, hard drugs and murder and such, those things all have established values as they have been around a while.

When they get dispensaries and such to back the coin, more and more will hop on, the price will steadily climb. That is what i am hoping for. If i am wrong, i will just move on and try my hand at another thing. I certainly won't piss and moan and demand answers because i failed to use due diligence before investing. That is just how i grow as a human being though, accepting my failures as my own and trying to not make the same mistakes in the future. Novel idea, some should give it a go.


 

[sirsmokesalot]

If we could get pot <-> fiat conversion easily, you would see a lot more adoption by everyday users.

This +1.

Too many people are obsessing over where the thread falls on bitcointalk. If you want to see it higher...then hey about you post more?

The Devs are worried about more important things. This is a bitcoin forum remember? Not a Potcoin forum. We have a reddit page which is more visually appealing anyways:

www.reddit.com/r/potcoin

you know how people see this section everyday? lets say 90% don't matter. the other 10% are people with money looking for things to invest in.


there are many things you need to do to make a coin work. having a thread being very active at the lagest crypto coin forum is one of them

We don't need investors we need adoption. Most alt coins follow the path of promoting the coin by looking for people to buy into the coin. Most do that right here on this forum. And most of those coins fail. Instead we should be focusing on improving ways to actually use the coin. We don't need investors. We don't need the price to shoot up so you can make a bunch of money off of other people. We need to create usage for the coin. Investors will come when that happens.

So far I have not seen one reason why a vendor should accept this coin over Bitcoin. None. Getting more people to buy into this coin just so they hold them is not going to do anything. We will all be left standing with huge piles of worthless coin.

You should be trying to spend your potcoin not hoarde it. When we can actually spend it on something and not just convert it back to something else we will have made progress.

Was reading back, this needs to be said again, nicely put!

[crackfoo]

Hey POT'ers,

Just a reminer, our pool is: http://www.hasher.ca

Low fee PROP reward system
DDoS Protected
High Performance Backend
Simple setup and usage, no account registration or email addresses
Paid directly to POT address after block confirmation.
Auto ProfitSwitching Ports (coming soon, currently testing)

To mine:

Username: your POT wallet address
Password: anything
URL (vardiff): stratum+tcp://stratum.hasher.ca:3544

Cheers and Happy Hashing!

[Atreides]

Main problems with the coin are two, IMHO:

1) Nothing makes it useful over the BTC, just vague things like 'the community', 'the focus on the weed market', etc. Not very impressive.

2) Lack of trust in the devs. I can even handle the wallet issues and all that. But what about making a hype like the 4/20, lot of rumours, and then what? A photo of an ATM and a video with one of them smoking weed at a smokers meeting? Not very impressive, again.

And if you read posts at reddit, you can see some extrange things about ASICS, etc.

I have been mining from one month ago, BTW, so I feel somewhat involved.

[Jamis]

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.

[Chronikka]

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.

[sirsmokesalot]

None of which is an issue, as long as the coins become more useful over time. If in a year from now we are at the same exact place, then yes, perhaps something may not be right.

[Chronikka]

None of which is an issue, as long as the coins become more useful over time. If in a year from now we are at the same exact place, then yes, perhaps something may not be right.

It's not an issue right now. But it could become a problem if large holders get antsy. Every day there isn't progress those coins lose significant value because so many new coins are being generated.

Like I've been saying we need to be able to buy things with Potcoin...not just trade it for other currency. Getting Coinpayments.net was great but I have seen nothing new about it. That service should allow merchants to embed a payment button directly into their websites to accept Potcoin.

Now people need to start using the service. Buy things with your Potcoin. Merchants take notice when competition is making money in a different way. Thats how we spread. Let your Potcoin wallets show other people that this is a currency...not a pump and dump scheme.

[sirsmokesalot]

None of which is an issue, as long as the coins become more useful over time. If in a year from now we are at the same exact place, then yes, perhaps something may not be right.

It's not an issue right now. But it could become a problem if large holders get antsy. Every day there isn't progress those coins lose significant value because so many new coins are being generated.

Like I've been saying we need to be able to buy things with Potcoin...not just trade it for other currency. Getting Coinpayments.net was great but I have seen nothing new about it. That service should allow merchants to embed a payment button directly into their websites to accept Potcoin.

Now people need to start using the service. Buy things with your Potcoin. Merchants take notice when competition is making money in a different way. Thats how we spread. Let your Potcoin wallets show other people that this is a currency...not a pump and dump scheme.

Antsy for what? Immediate profits on their coin? This is not the place for that. Gosh golly, it is only legal in how many states? It is a work in progress, the industry, let alone a crypto being targeted for this yet to be industry. The amount of coins shouldn't really dilute the current value all too much. There is no magic about it, they are not the reserve, there should never be more than 420 million coins, no? So, we can establish a value based purely off that if we really want to. I think they call it speculation? I believe it is how most of these coins derive their value to begin with.

I actually purchased some incense, using ltc, through coinpayments after browsing through their merchants. It was not difficult, of course there is some type of button to choose which payment options you want, i think you are talking about more shopping cart type stuff on the merchants end?

I would like to see them kinda do a one size fits all, where all the coins they accept are all the coins their merchants accept. I get that allowing merchants to pick and choose creates this illusion of control for the merchant, but if the service acts as a middle man that takes the coins, then sells or "buys" them from the merchants and gives the fiat to the merchant, why not just force all merchants to accept all coins?

I do not disagree with you. The huge issue is managing to sustain potcoin at a price that people do not mind spending it at. You need to figure out your cost of hardware and electricity and blah blah blah to find out what it cost YOU and then figure out if what you are trading your coins for has the same value to you.

[Chronikka]

Antsy to get on board something else. There is no shortage of competitors for Potcoin...if somebody feels they are better suited investing in another coin they will do it. Its not even hard, exchanges make it happen in minutes.

I know the coin is still young and I'm not trying to raise any red flags about the price. The price is fine. Lower than many people were expecting but its fine. I'm concerned with the lack of support for the coin. I see more people in here bashing the Devs than anything else. And its starting to make its way to /r/potcoin.

We need something positive to get support going again. Or people are going to keep jumping ship.

[Cryptocurrency_forum]

Been mining for a 3 months. not too profitable.
http://i243.photobucket.com/albums/ff122/paladin64/light_zpsadda8e6b.png

[PotCoin]

So after investigation on these matters we have come to the conlusion that our dns servers have been gettings ddossed and also people had been trying to hack them...  the servers where taking so much fake traffic that our host took the servers offline. This has been happening again when servers come back, then they get flooded again. We are working on a bunch of new servers distributed worldwide and we will be putting up redundent nameservers also. The sync problem will be fixed shortly.

Pls follow potcoin on twitter and follow #potcoinalerts

We will be making an alert system to monitor network services and also alert via email and twitter etc.

We will also be releasing a timeline of all work and projects being worked on and the percent of accomplishment.

We have lots in store and news coming this week.

Just think that only 2 states are legal and how big the industry already is.  In the next few years crypto will become more.and more.adopted and cannabis will become more.and more legal.  Both those factors plus the potcoin teams ideas and execution and our new team members will make this coin be a huge success.  

We have already acoomplished more.than 90 percent of the coins out there.


I want everyone to go to youtube.com and look for river rock tv.  

River rock is accepting potcoins at both their locations in denver and both the potcoin ATM are also located inside.

Full details and photos coming this week and a full press release.

Lets all calm down and not panic just because impatient people are dumping.

Ive been buying


Sincerly

Your friend

Smokemon

[anyone4u]

Antsy to get on board something else. There is no shortage of competitors for Potcoin...if somebody feels they are better suited investing in another coin they will do it. Its not even hard, exchanges make it happen in minutes.

I know the coin is still young and I'm not trying to raise any red flags about the price. The price is fine. Lower than many people were expecting but its fine. I'm concerned with the lack of support for the coin. I see more people in here bashing the Devs than anything else. And its starting to make its way to /r/potcoin.

We need something positive to get support going again. Or people are going to keep jumping ship.

The people bashing are not long term people. Heck I was one of the pioneers and I don't remember many of the names that are bashing besides a few of them. Heck I would be a lurker, then start talking lots of crap to make it look like I did something. I would ask these people bashing for their detailed post and whatnot from the beginning to see if their bashing has much merit in them or is it just "I didn't make big $$$$ so I say blah blah blah....
If anyone cares to read my post, thats fine but I am just saying the bashers need to be investigated to see if they hold as much merit as they claim.

[dwolfx]

People are ridiculous, everyone expect to get rich overnight.
Buy some freaking potcoins, shove them in a wallet, and go afk for a year like normal human beings and stop acting like you need these coins to go through the roof in value so you can retire early.

I think people that act like that are just so desperate for money that if crypto-fails they would go hang themselves out of desperation.
Rome wasn't built in a day.

The way people act you would think 99% of crypto - users are 12 years old.

No one buys stocks and expects them to go up 9000% over-night, if you want FIAT that bad, go work and produce something someone wants.

[PotCoin]

People are ridiculous, everyone expect to get rich overnight.
Buy some freaking potcoins, shove them in a wallet, and go afk for a year like normal human beings and stop acting like you need these coins to go through the roof in value so you can retire early.

I think people that act like that are just so desperate for money that if crypto-fails they would go hang themselves out of desperation.
Rome wasn't built in a day.

The way people act you would think 99% of crypto - users are 12 years old.

No one buys stocks and expects them to go up 9000% over-night, if you want FIAT that bad, go work and produce something someone wants.

its suppose to be a long term investment, this isnt day trading penny stocks.  i mean you can do it that way but the best way to make solid money and a return on the investment is to buy coins and wait at least a few months... and you will make money.   

potcoin has longterm plans and we have a vision of what the community wants and needs. Adoption if the most important thing and the main reason we created this coin. 

HELP THE CANNABIS INDUSTRY TRANSACT DAILY, SECURELY, EASILY VIA CRYPTO CURRENCY SOLVING THE PROBLEM OF DEALING ONLY IN CASH AND BANKS NOT WANTING TO DEAL WITH THEM.  Once it becomes adopted then the price of the currency will get to where is needs to be and everyone can profit from it. 

stop thinking about how much money you can make today or tomorrow and think about how much money you could make if you only sold in 6 months or a year....

this is coin will be at 1$ by 4.20 next year not matter what happens...  and im going to say at least 10 bucks.

what do you guys think?

[Dabs]

Well, if bitcoin or litecoin is any indication, potcoin can potentially be 1 USD next year, and then 30 USD the year after, dropping down to 2 USD, then going up to 100 USD, then dropping down to 50 USD, then going up to 900 USD, then dropping down to 400 USD.

[Vlad2Vlad]

Well, if bitcoin or litecoin is any indication, potcoin can potentially be 1 USD next year, and then 30 USD the year after, dropping down to 2 USD, then going up to 100 USD, then dropping down to 50 USD, then going up to 900 USD, then dropping down to 400 USD.

You're joking, right?

Bitcoin has 21 million coins maximum hardcap.

POTcoin has 420,000,000.

Bitcoin has the entire planet, 7+ Billion People as an addressable market [and a massive head start - plus an ultra secure network which only 4 alt coins posses].

POTcoin will never be more than a niche market planet, albeit, this niche market is a multi billion dollar market.


So think Market Capitalization and run your numbers again.