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vesperwillow
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May 20, 2014, 03:45:42 PM |
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PotCoin, is there a business plan brochure / overview / "point of sale" package, which you have put together? I presume you'd have this since it's part of your job, and you kindof need them if you're trying to get accepted in stores.
If you could provide it to the community, it would probably help spread the word and educate storefronts.
I'm sure I don't have to explain to you what this is, and you already have them ready.
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Viceroy
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May 20, 2014, 07:41:30 PM |
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Please finish this sentence: Potcoin is _________
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sirsmokesalot
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May 20, 2014, 08:51:29 PM |
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Please finish this sentence: Potcoin is _________
Potcoin is a work in progress. I think the next "big" thing they should work on is a multipool of some sorts. Either that, or pay someone to make a multipool for them. NRS just finished their pool and the way they were talking about it, i am under the impression they hired a team of devs to make the pool or something. Maybe see if they could make one for Potcoin. It helps to apply consistent buy pressures on pot and might be able to drive the price up a little. I say that, and am thinking, I don't really care about the price. No one gave two shits when btc was 12 bucks a coin.. That being said, it is nice to be able to create demand for a coin by having something continually buying it up. It would be a nice way to smooth out the halving, applying pressure on the buy end of things while reducing the reward. I have been kicking around the idea of buying a bunch of wraps and rolling papers and just reselling them for potcoins. Only really have two concerns for this, the first being i don't know how i can make it so i break even, forget even being profitable. By the time i buy these things and get them, to turn around and resell them and have to then pay shipping. I am not a wholesaler and i don't own a tobbacco shop so i dunno how i could get them cheap enough to make it so i am not losing money. The store aspect of it as well. I don't have a website or ecommerce thing going. I usually use amazon, ebay, or etsy if i am looking to sell something through the web. That and trying to make it so people actually know the site exists. The spreading the word is grunt work and i have no issues posting links and such. What type of demand is there for such a thing? Would anyone even bother to use it? I am trying to think of things i can do to help add some utility to the coin. Things that are feasible for someone with a life(some what) and not tons of free time. I know i would use it, but that is because i have a ton of potcoins and wouldn't mind spending them on something i can and would actually use. Colorado is too far of a day trip from PA imho. Although just thinking about what i could get for my Potcoins, even with the price as low as it is, still makes it seem pretty worth it to me, so i dunno  Any news on how the ATM set-up went? I believe it was supposed to happen today. |
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dwolfx
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May 21, 2014, 10:27:48 AM |
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Multipool + 1
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Leetpools!
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vesperwillow
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May 21, 2014, 12:13:48 PM |
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Could you address my question on the previous page near the bottom? |
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dwolfx
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May 21, 2014, 12:50:54 PM |
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Should lower the rate of inflation of potcoin down to 1 ~ 5 million coins a year until demand catches up with supply.
If you let supply out-pace demand for too long, you will start to crush any prospects for future demand.
coin needs to come up for air, too many asics and multi-pools.
Still good coin in the long term, very few coins have this much work/dedication put into them, shame to let it sink because people are afraid to tweak some numbers.
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Leetpools!
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vesperwillow
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May 21, 2014, 12:59:17 PM |
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Should lower the rate of inflation of potcoin down to 1 ~ 5 million coins a year until demand catches up with supply.
If you let supply out-pace demand for too long, you will start to crush any prospects for future demand.
coin needs to come up for air, too many asics and multi-pools.
Still good coin in the long term, very few coins have this much work/dedication put into them, shame to let it sink because people are afraid to tweak some numbers.
I didn't even realize there was a demand for the supply, with the vanishing buy orders on all exchanges and everything. Wouldn't demand mean you have merchants on the ground? Plus, my question to potcoin relates to creating demand. |
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dwolfx
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May 21, 2014, 01:15:01 PM |
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Should lower the rate of inflation of potcoin down to 1 ~ 5 million coins a year until demand catches up with supply.
If you let supply out-pace demand for too long, you will start to crush any prospects for future demand.
coin needs to come up for air, too many asics and multi-pools.
Still good coin in the long term, very few coins have this much work/dedication put into them, shame to let it sink because people are afraid to tweak some numbers.
I didn't even realize there was a demand for the supply, with the vanishing buy orders on all exchanges and everything. Wouldn't demand mean you have merchants on the ground? Plus, my question to potcoin relates to creating demand. It is going to be a long a difficult road to create demand. In the long-run it might come to exist. The primary reason people would buy potcoin right now is, the assumption that in the future, when people can go to their local deli and buy weed (post legalization) that potcoin/bitcoin will become a popular method of anonymous payment. Even big-time medical payment companies stock prices are in the pennies atm (companies that handle payments for dispensaries and such with normal debit/credit systems). Potcoins price is low for a few reasons 1) Demand is low for medical marijuana , the majority of people pretty much source all their weed illegally and pay cash. 2) The "legal" market is very small and needs time to grow, think of it like bacteria in a petri dish, the seeds have been planted, but the bacteria needs time to grow (years maybe decades even). 3) There is very little incentive to use pot-coin OVER bitcoin. 4) The rate of inflation is soo high , that there is no logical reason to hoard the coins, just yet, unless you believe that when the marijuana industry is HUGE and built into the culture of society, that people will use potcoin and gift potcoin to eachother as a way of promoting and supporting marijuana. 5) People have this instant gratification complex, they want to throw 100$ at a crypto-currency and watch it grow to 1000 in a week, such expectations are unreasonable, and when the coin drops a few % points instead of skyrocketing people line up to dump out of fear. Best thing you can do is try and shield people from inflation till demand catches up with supply, maybe cap the coins to 420,000 coins a year or something. That being said, there is no reason to go and buy / mine any other alt-coin, since the majority of them are based on pictures of fluffy animals, best investments you can make if you are hell-bent on investing in crypto is to pick the niche coins that might actually have use one day namely bitcoin litecoin dogecoin potcoin ultracoin etc are my personal favorites (although I have somewhat lost all interest in Litecoin). |
Leetpools!
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vesperwillow
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May 21, 2014, 01:20:54 PM |
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You're missing one major factor: There's no requirement for potcoin to be of any particular value. This isn't a stock program. This is a monetary transaction shifting system. The value is set by pure speculation.
And if say 2 or 3 merchants pop up and say a gram of grass will cost you 10M/pot, well now you at least have a price point. Could talk for hours about this, but I'd rather hear from potcoin, particularly on my inquiry on the previous page.
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dwolfx
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May 21, 2014, 01:25:39 PM |
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You're missing one major factor: There's no requirement for potcoin to be of any particular value. This isn't a stock program. This is a monetary transaction shifting system. The value is set by pure speculation.
And if say 2 or 3 merchants pop up and say a gram of grass will cost you 10M/pot, well now you at least have a price point. Could talk for hours about this, but I'd rather hear from potcoin, particularly on my inquiry on the previous page.
But when the price is primarily held up by speculation, you have to give people a reason not to speculate that the price will go down. I can without a doubt honestly say that in a week the price of potcoin will probably be down another 10% guaranteed, so what incentive does one have to buy potcoin if they can not spend it locally? and what incentive do people have to accept potcoin if they would have to charge say a 5% premium to shield them-self from the inflation? cash fiat seems to be the best way to buy marijuana as it stands. Best angle would be to dump all development work into making the mobile app as easy/stable/safe/convenient to use as possible so that people can conduct illegal pot purchases anonymously and quickly via phone to phone. Thats your niche market you need to exploit. |
Leetpools!
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vesperwillow
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May 21, 2014, 03:23:29 PM |
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10%.. shoot.. it's halved overnight lol. I agree, "on the ground development". I've been pushing this for awhile, which is why I'm waiting for potcoin to respond to my post.
And what you describe, is what dopecoin is doing right now.
In the end, one has to ask "what does this do, that bitcoin doesn't?". As of now, I see nothing, and people are already using BTC in the MJ world.
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nil8tor
Newbie
 Offline
Activity: 16
Merit: 0
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May 21, 2014, 04:58:39 PM |
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PotCoin, is there a business plan brochure / overview / "point of sale" package, which you have put together? I presume you'd have this since it's part of your job, and you kindof need them if you're trying to get accepted in stores.
If you could provide it to the community, it would probably help spread the word and educate storefronts.
I'm sure I don't have to explain to you what this is, and you already have them ready.
Thank you all for being patient with us as we evolve to the rapid demand for PotCoin. We have several updates coming out today and I wanted to take a moment to address the community in regards to our recent developments. 1. New wallet code has been developed 2. ATM's will be deployed soon but we want to ensure a positive user and merchant experience rather than rush the delivery. 3. Our media kit is being finalized and should be available by the end of the week. 4. We have launched our new blog as of last night and will be moving towards centralized media distribution 5. We are growing as a company by adding new employees and securing additional financing 6. Our Authorized PotCoin Merchant program will leave you saying "why would I NOT use PotCoin?" We are moving at a pace that is unprecedented and I am very pleased with the progress we are making as a company. Here is a preview of the upcoming media kit: https://i.imgur.com/2hUb44F.pngThank you to everyone in the community. Russell Thomas PotCoin Ambassador to Colorado Englewood, Colorado www.potcoin.com |
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CartmanSPC
Legendary
Offline
Activity: 1270
Merit: 1000
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May 21, 2014, 05:11:20 PM |
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Ultimately I think the most important thing for this coin to succeed in retail would be to have a coinbase type service to instantly exchange POT into fiat for merchants. I doubt coinbase will add POT to their service anytime soon so an alternative will need to be created.
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omahapoker
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May 21, 2014, 05:16:35 PM |
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looks like POT is improving. good job
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ny2cafuse
Legendary
Offline
Activity: 1582
Merit: 1002
HODL for life.
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May 21, 2014, 05:25:18 PM |
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Thank you all for being patient with us as we evolve to the rapid demand for PotCoin. We have several updates coming out today and I wanted to take a moment to address the community in regards to our recent developments.
1. New wallet code has been developed
2. ATM's will be deployed soon but we want to ensure a positive user and merchant experience rather than rush the delivery.
3. Our media kit is being finalized and should be available by the end of the week.
4. We have launched our new blog as of last night and will be moving towards centralized media distribution
5. We are growing as a company by adding new employees and securing additional financing
6. Our Authorized PotCoin Merchant program will leave you saying "why would I NOT use PotCoin?"
We are moving at a pace that is unprecedented and I am very pleased with the progress we are making as a company. Here is a preview of the upcoming media kit:
A few points: So you didn't have a media kit yet? So essentially, up until this point you went to vendors looking like yet another stoner, saying "hey dude, Potcoin is cool"? Wouldn't a media kit be a good idea to have had when you were at the 420 event... where there are TONS of vendors you could have left professional info with? Again, where is the professionalism and proper business planning? You're looking for additional funding for new employees? For what? The SLOW growth of this coin doesn't seem to warrant the need for additional employees. If the funding is to buy company shirts, business cards, promotional media, etc... I'd say go for it. Make it a more professional company before you start to add more people to the team. The pace isn't "unprecedented". NLG has gotten 4 food merchants and numerous web services to accept the coin in the last month, and they have an android wallet. DOGE was an instant success, and is 3rd in vendor utilization in terms of crypto. What exactly is unprecedented? I'm sure I could name plenty of other coins that did more than POT did in a shorter time. It's always a lot of hyped up talk about POT, but not a lot of action. Stop bringing the news of "we're going to do this and that", and start posting the news of "we did this and that" -Fuse |
Community > Devs
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igba
Member
Offline
Activity: 111
Merit: 10
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May 21, 2014, 05:32:51 PM |
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Please finish this sentence: Potcoin is _________
Potcoin is a work in progress. I think the next "big" thing they should work on is a multipool of some sorts. Either that, or pay someone to make a multipool for them. NRS just finished their pool and the way they were talking about it, i am under the impression they hired a team of devs to make the pool or something. Maybe see if they could make one for Potcoin. It helps to apply consistent buy pressures on pot and might be able to drive the price up a little. I say that, and am thinking, I don't really care about the price. No one gave two shits when btc was 12 bucks a coin.. That being said, it is nice to be able to create demand for a coin by having something continually buying it up. It would be a nice way to smooth out the halving, applying pressure on the buy end of things while reducing the reward. I have been kicking around the idea of buying a bunch of wraps and rolling papers and just reselling them for potcoins. Only really have two concerns for this, the first being i don't know how i can make it so i break even, forget even being profitable. By the time i buy these things and get them, to turn around and resell them and have to then pay shipping. I am not a wholesaler and i don't own a tobbacco shop so i dunno how i could get them cheap enough to make it so i am not losing money. The store aspect of it as well. I don't have a website or ecommerce thing going. I usually use amazon, ebay, or etsy if i am looking to sell something through the web. That and trying to make it so people actually know the site exists. The spreading the word is grunt work and i have no issues posting links and such. What type of demand is there for such a thing? Would anyone even bother to use it? I am trying to think of things i can do to help add some utility to the coin. Things that are feasible for someone with a life(some what) and not tons of free time. I know i would use it, but that is because i have a ton of potcoins and wouldn't mind spending them on something i can and would actually use. Colorado is too far of a day trip from PA imho. Although just thinking about what i could get for my Potcoins, even with the price as low as it is, still makes it seem pretty worth it to me, so i dunno Any news on how the ATM set-up went? I believe it was supposed to happen today. Blunt wrappers would be great novelty items, stoners buy anything with a weed leaf on it. Gifts bought at headshops are a huge market, can't forget that. |
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nil8tor
Newbie
Offline
Activity: 16
Merit: 0
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May 21, 2014, 05:35:35 PM |
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Thank you all for being patient with us as we evolve to the rapid demand for PotCoin. We have several updates coming out today and I wanted to take a moment to address the community in regards to our recent developments.
1. New wallet code has been developed
2. ATM's will be deployed soon but we want to ensure a positive user and merchant experience rather than rush the delivery.
3. Our media kit is being finalized and should be available by the end of the week.
4. We have launched our new blog as of last night and will be moving towards centralized media distribution
5. We are growing as a company by adding new employees and securing additional financing
6. Our Authorized PotCoin Merchant program will leave you saying "why would I NOT use PotCoin?"
We are moving at a pace that is unprecedented and I am very pleased with the progress we are making as a company. Here is a preview of the upcoming media kit:
A few points: So you didn't have a media kit yet? So essentially, up until this point you went to vendors looking like yet another stoner, saying "hey dude, Potcoin is cool"? Wouldn't a media kit be a good idea to have had when you were at the 420 event... where there are TONS of vendors you could have left professional info with? Again, where is the professionalism and proper business planning? You're looking for additional funding for new employees? For what? The SLOW growth of this coin doesn't seem to warrant the need for additional employees. If the funding is to buy company shirts, business cards, promotional media, etc... I'd say go for it. Make it a more professional company before you start to add more people to the team. The pace isn't "unprecedented". NLG has gotten 4 food merchants and numerous web services to accept the coin in the last month, and they have an android wallet. DOGE was an instant success, and is 3rd in vendor utilization in terms of crypto. What exactly is unprecedented? I'm sure I could name plenty of other coins that did more than POT did in a shorter time. It's always a lot of hyped up talk about POT, but not a lot of action. Stop bringing the news of "we're going to do this and that", and start posting the news of "we did this and that" -Fuse Fuse, That's perfectly fair and you have very valid points. It is for those very reasons you are witnessing a positive transformation of PotCoin. The recent pace is unprecedented as it relates to PotCoin and the company behind it. Sorry for the lack of context in regards to that statement. I can assure you that we are transforming in a very positive direction and it is in large due to the insight of people like you. We really do appreciate all commentary, even negative, as it helps us to develop in a direction commensurate with the desires of the community that supports us. - Russ.T |
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ny2cafuse
Legendary
Offline
Activity: 1582
Merit: 1002
HODL for life.
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May 21, 2014, 05:50:49 PM |
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Thank you all for being patient with us as we evolve to the rapid demand for PotCoin. We have several updates coming out today and I wanted to take a moment to address the community in regards to our recent developments.
1. New wallet code has been developed
2. ATM's will be deployed soon but we want to ensure a positive user and merchant experience rather than rush the delivery.
3. Our media kit is being finalized and should be available by the end of the week.
4. We have launched our new blog as of last night and will be moving towards centralized media distribution
5. We are growing as a company by adding new employees and securing additional financing
6. Our Authorized PotCoin Merchant program will leave you saying "why would I NOT use PotCoin?"
We are moving at a pace that is unprecedented and I am very pleased with the progress we are making as a company. Here is a preview of the upcoming media kit:
A few points: So you didn't have a media kit yet? So essentially, up until this point you went to vendors looking like yet another stoner, saying "hey dude, Potcoin is cool"? Wouldn't a media kit be a good idea to have had when you were at the 420 event... where there are TONS of vendors you could have left professional info with? Again, where is the professionalism and proper business planning? You're looking for additional funding for new employees? For what? The SLOW growth of this coin doesn't seem to warrant the need for additional employees. If the funding is to buy company shirts, business cards, promotional media, etc... I'd say go for it. Make it a more professional company before you start to add more people to the team. The pace isn't "unprecedented". NLG has gotten 4 food merchants and numerous web services to accept the coin in the last month, and they have an android wallet. DOGE was an instant success, and is 3rd in vendor utilization in terms of crypto. What exactly is unprecedented? I'm sure I could name plenty of other coins that did more than POT did in a shorter time. It's always a lot of hyped up talk about POT, but not a lot of action. Stop bringing the news of "we're going to do this and that", and start posting the news of "we did this and that" -Fuse Fuse, That's perfectly fair and you have very valid points. It is for those very reasons you are witnessing a positive transformation of PotCoin. The recent pace is unprecedented as it relates to PotCoin and the company behind it. Sorry for the lack of context in regards to that statement. I can assure you that we are transforming in a very positive direction and it is in large due to the insight of people like you. We really do appreciate all commentary, even negative, as it helps us to develop in a direction commensurate with the desires of the community that supports us. - Russ.T Perfect response. Russ, I welcome your feedback to my post, and I like the fact that you are at least directly addressing my concerns. My previous post of concerns went completely ignored by @Potcoin. Thank you. If the direction of Potcoin is one of a more professional endeavor, than I'm behind it. While I still don't agree with the halving that is obviously going to happen, I still want to see this coin succeed. A professional approach is what's needed for adoption. There's been a ton of talk about "the business" of Potcoin, but recent events made it feel like it's been a couple stoners trying to build a time machine. They've got a great idea, and the drive to do it, but not the skills to get it done. If legitimate businesses are going to accept POT, a legitimate and professional approach is needed. Order some polo/dress shirts with the POT logo, make up some business cards and media kits, and canvas like a professional business. -Fuse |
Community > Devs
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