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Author Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦  (Read 889897 times)
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December 04, 2015, 05:30:44 PM
 #5701

@JaFa

you're talking sense.

1.  pull any and all POT from Cryptsy
2.  if Cryptsy goes down likely faces massive lawsuit, those coins will be 'locked up' for years
3.  devs have created a nice product techwise, but have failed on communicating with the community, so mutiny Wink
4.  again the mining/distro/market exposure means POT is well equipped to survive
5.  best hope is that the website domain holders and community can work together, and a handful of code devs just keep an eye on the network/github ... POT will thrive

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December 04, 2015, 05:45:33 PM
 #5702

I get where you guys are coming from but I've been saying for awhile that the technology behind Potcoin has already far outpaced its niche market. An active code developer might be comforting for some bag holders but is it actually going to help with coin adoption? I doubt it.

If Potcoin is going to succeed it needs boots on the ground so to speak. People working with actual retailers to accept the coin.

The only thing I see a developer actually being able to contribute to Potcoin at this point in time, would be to create a mobile wallet and/or mobile payment processor.  That would also go hand in hand with my point above about working with retailers. Otherwise what is there for a developer to do?

"The true sign of intelligence is not knowledge but imagination"  -Albert Einstein
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December 04, 2015, 06:49:20 PM
 #5703

2 chime in again;

potcoin does not need boots on the ground.  the other 420 coins do.  POT is all things GREEN.  it is the leading point of a greater spear tip.

so it can be political, non specific, and i say this because the tech/distro/market is a level above.

the others can focus on specific markets, POT is an agenda, and the time is now.

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December 04, 2015, 06:55:08 PM
 #5704

I get where you guys are coming from but I've been saying for awhile that the technology behind Potcoin has already far outpaced its niche market. An active code developer might be comforting for some bag holders but is it actually going to help with coin adoption? I doubt it.

If Potcoin is going to succeed it needs boots on the ground so to speak. People working with actual retailers to accept the coin.

The only thing I see a developer actually being able to contribute to Potcoin at this point in time, would be to create a mobile wallet and/or mobile payment processor.  That would also go hand in hand with my point above about working with retailers. Otherwise what is there for a developer to do?

I agree 100%.  There is no demand for this coin, mostly due to the fact that it isn't desirable to use by merchants.  There aren't any benefits to using POT over any other MJ coin, or any coin for that matter right now.  And this isn't anything new.  This discussion of innovation vs use vs supply has been going on forever.  The accelerated halving, then the move to POSV... it's all been an attempt to hype price, most likely to pull off a pump and dump and move on.  We're left now with the failure of those attempts.

The economics of this coin aren't helping either for the diehard hold-outs.  If you were an early adopter, you probably mined a bunch.  Let's say you mined 200-300k or so and sat on it.  You were probably excited when it went into the accelerated halving because you thought the price would bump up.  When it didn't, you probably just sat on those coins again.  By this time it was already unprofitable to mine.  So you sat on it longer.  Then POSV came around and you were like "swell... I'll mint a ton".  But in reality, you're making pennies on your interest with today's prices.  Even if a merchant would take POT for MJ, you're going to end up dumping your entire holdings on an ounce(if you're lucky).

I really think this coin missed it's window of opportunity.  It's like the high school football star that has a full ride scholarship to Notre Dame, and ends up getting his 250lbs math tutor pregnant his senior year.

-Fuse

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December 04, 2015, 07:25:46 PM
 #5705

@Fuse

lolz ... i giggled.

POW for +12months then shifts to POS.  In fact distro'd to +10k wallets.  This is more notable like a rated High School QB who some how is holding the most touchdowns in NFL hall of fame, getting his 250lbs math tutor pregnant his senior year was just a bump in the road.

your scale is off.

POT is one of many MJ sector coins and can store value.  The use as currency is null.  Only BTC and LTC have the volume to transmit $millions in a day.  But POT is perfect for building equity and retaining the raised capital for MJ focused projects.

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December 04, 2015, 07:41:13 PM
 #5706

I get where you guys are coming from but I've been saying for awhile that the technology behind Potcoin has already far outpaced its niche market. An active code developer might be comforting for some bag holders but is it actually going to help with coin adoption? I doubt it.

If Potcoin is going to succeed it needs boots on the ground so to speak. People working with actual retailers to accept the coin.

The only thing I see a developer actually being able to contribute to Potcoin at this point in time, would be to create a mobile wallet and/or mobile payment processor.  That would also go hand in hand with my point above about working with retailers. Otherwise what is there for a developer to do?

I agree 100%.  There is no demand for this coin, mostly due to the fact that it isn't desirable to use by merchants.  There aren't any benefits to using POT over any other MJ coin, or any coin for that matter right now.  And this isn't anything new.  This discussion of innovation vs use vs supply has been going on forever.  The accelerated halving, then the move to POSV... it's all been an attempt to hype price, most likely to pull off a pump and dump and move on.  We're left now with the failure of those attempts.

The economics of this coin aren't helping either for the diehard hold-outs.  If you were an early adopter, you probably mined a bunch.  Let's say you mined 200-300k or so and sat on it.  You were probably excited when it went into the accelerated halving because you thought the price would bump up.  When it didn't, you probably just sat on those coins again.  By this time it was already unprofitable to mine.  So you sat on it longer.  Then POSV came around and you were like "swell... I'll mint a ton".  But in reality, you're making pennies on your interest with today's prices.  Even if a merchant would take POT for MJ, you're going to end up dumping your entire holdings on an ounce(if you're lucky).

I really think this coin missed it's window of opportunity.  It's like the high school football star that has a full ride scholarship to Notre Dame, and ends up getting his 250lbs math tutor pregnant his senior year.

-Fuse

Yeah that's pretty much how I feel too. I mined a bunch in the first 2 weeks and have mostly sat on them since. During price upswings I sold in order to buy more at the dips, but after awhile that wasn't worth it either and now my coins just sit. But considering that my investment was 2 weeks of GPU mining time its not much of a loss if nothing ever happens with the coin.

I believe there are two movements that at this point in time are more or less unstoppable. The evolution of financial services moving toward digital currencies, and the legalization of MJ. In my mind Potcoin was supposed to be the bridge between the two but it just never happened. In reality I think Bitcoin will end up filling the role.

"The true sign of intelligence is not knowledge but imagination"  -Albert Einstein
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December 04, 2015, 07:52:00 PM
 #5707

"I think Bitcoin will end up filling the role."

ORLY?

and how is BTC specifically focused on MJ

Do you see the issue with sector focused potluck soup?

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December 04, 2015, 08:11:04 PM
 #5708

"I think Bitcoin will end up filling the role."

ORLY?

and how is BTC specifically focused on MJ

Do you see the issue with sector focused potluck soup?

Bitcoin is not specifically tailored for any market, except maybe for "online" purchases if you consider that to be a market. But then again how is Potcoin tailored to the MJ industry? Other than having Pot in the name...

Right now Bitcoin has infrastructure that other crypto currencies do not. I think a MJ focused currency would definitely have a leg up on Bitcoin, but I don't believe businesses will ultimately care what currency they're accepting, as long as it allows them to conduct business efficiently and turn a profit. If there are customers who want to pay in Bitcoin but not Potcoin, no retailer is going to say ok we'll accept Potcoin but not Bitcoin. That would be a good way to go out of business. So I think it still comes back to the same question...how do we get people to actually use Potcoin as a currency? This is where the developer questions become relevant, because I think an important (and unavoidable) step would be to create a mobile wallet and payment processor.

"The true sign of intelligence is not knowledge but imagination"  -Albert Einstein
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December 04, 2015, 10:10:52 PM
 #5709

Yeah that's pretty much how I feel too. I mined a bunch in the first 2 weeks and have mostly sat on them since. During price upswings I sold in order to buy more at the dips, but after awhile that wasn't worth it either and now my coins just sit. But considering that my investment was 2 weeks of GPU mining time its not much of a loss if nothing ever happens with the coin.

I believe there are two movements that at this point in time are more or less unstoppable. The evolution of financial services moving toward digital currencies, and the legalization of MJ. In my mind Potcoin was supposed to be the bridge between the two but it just never happened. In reality I think Bitcoin will end up filling the role.

@BitcoinNational, this sums it up right here.  I don't know if you were around for the 420 event, the Snoop promo, or any other hyped publicity that the original team pushed, but they never lived up to what they were supposed to bring to the coin.  The 420 event was the founder running around getting high and not pushing business... dressed like a stoner frat kid having fun with his stoner frat friends.  The Snoop shoutout was a total failure that ultimately resulted in someone getting some fuzzy Snoop slippers after all the hype.  There was the publicity over the potcoin ATM and the acceptance at a MMJ shop, but only for merch, not MMJ.  And so on, and so forth.

I'm not seeing a hall of fame career here.  I'm seeing this:



All this coin would need to get back on track is one dispensary saying that they would take POT for pot.  That's it.  But Chronikka is 100% correct- the infrastructure isn't there.  And at the moment, the name is the only thing that makes it relevant to merchants.  You would probably have an easier time just rebranding the BTC wallet and calling it POT.  Use the BTC blockchain and everything, just make it say POT instead of BTC.  You'd at least have the infrastructure to move forward.

So yes, a dev who can build merchant tools is what is needed, but it's not going to help unless there's someone waiting to use it on the merchant side.  That's what POT has always needed and still needs today.

-Fuse

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December 05, 2015, 01:14:29 AM
 #5710

I wonder why "pot shops" haven't started accepting bitcoin yet? Everything is there for them to do so.

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December 06, 2015, 07:22:49 AM
 #5711

 Bittrex: This market (Potcoin) is in danger of de-listing due to low trade volume and lack of user interest. It may be removed on Friday, December 11th 2015 unless the average daily trade volume for the last 7 days exceeds 0.2 BTC.
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December 06, 2015, 11:22:48 AM
 #5712



@ny2cafuse

POT has a new mascot ... even got "P" on the letterman jacket Smiley

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Chronikka
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December 06, 2015, 03:03:33 PM
 #5713

I wonder why "pot shops" haven't started accepting bitcoin yet? Everything is there for them to do so.

I've wondered this as well. There are some people working in Colorado and Washington towards this but not as many as I would have thought. I think people are just hesitant to jump into a market that's still mostly illegal

"The true sign of intelligence is not knowledge but imagination"  -Albert Einstein
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December 09, 2015, 06:24:37 PM
 #5714

Bittrex: This market (Potcoin) is in danger of de-listing due to low trade volume and lack of user interest. It may be removed on Friday, December 11th 2015 unless the average daily trade volume for the last 7 days exceeds 0.2 BTC.

Fired up a copy of my arb bot. I have it arbing pot only with no lower limit for profit %, IE it will grab every trade it can. I will leave it running for a few days and see if that brings up the volume enough to keep it from being delisted.
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December 10, 2015, 12:14:48 AM
 #5715

Great effort to helping out, hope it works as you intend. Is that something others can do to boost activity
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December 10, 2015, 06:29:04 AM
 #5716

Bittrex: This market (Potcoin) is in danger of de-listing due to low trade volume and lack of user interest. It may be removed on Friday, December 11th 2015 unless the average daily trade volume for the last 7 days exceeds 0.2 BTC.

If you want to get some volume on the exchange, connect some scrypt hashrate to us at https://prohashing.com and select to be paid out in POT.  Our automated trader buys coins for your payment, which will create volume in the market.

Prohashing - Professional Scrypt Mining Made Simple
Visit us at https://prohashing.com
Custom pool optimized for maximum performance of all scrypt hardware
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December 10, 2015, 05:18:49 PM
 #5717

POTCOIN - POTLABS UPDATE

Potlabs at this point is Redrhino, Mrperetz, and Davidpot and there are no real assets, having put their personal money as needed for programmers and stuff since the turnover. Potlabs has been working to get mobile apps built but have gone through like 5 different programmers. Now they are trying to get a potwallet app out while they get someone to build POTCOINj which is necessary for a "stand alone" mobile wallet. Redrhino has the Twitter and BCT passwords, the github password is DavidPot, Facebook is MrPeretz (I believe) and instagram is a buddy of Redrhino's, Dave. (P.S. Cogitorium has communicated with the creator of PotcoinBot, who has asked to remain annonomis)

The vision is to have a mobile wallet app., then approach several merchants in a specific geographical location (Denver/Boulder ?). Offering 1,000,000 Potcoin per local as an incentive. Followed by adding new merchants in the same market over time, creating a small ecosystem in that target market. Potlabs has been disappointed that only a couple guys responded to the post: (PotCoin - Roadmap - Dev Team and update ? submitted 1 month ago by GJayJayG) - "If anyone would like to contribute to the website, social media or any other facets of PotCoin please send us at support@potcoin.com with your skills, ideas and intentions and we would love to have you onboard".

By emailing to support@potcoin.com you would be invited to potcoindev.slack.com, the PotCoin Slack Development Channel which was created for communication, discussion and planning outside of all the noise on Potcoin Reddit & BCT.

A snapshot of who is currently participating in PotCoin Slack Development Channel and their roles;

Red Rhino - PotCoin Support & website,
Cogitorium - PotCoin Social - Twitter and Reddit (official posts) - given full account access
Mrperetz - PotCoin Marketing,
RdYoung - BitcoinTalk support and posts (official posts),
SkMediaDesigns - Facebook promotions & website - given full account access to both,
IcePick - PotCoin Development,
RealBadDan - PotCoin Promotions,
Jugglex - PotCoin Finance,
DavidPot - PotWallet

We are in the process of organizing a weekly Google Hangout for those above to share their progress, problems and needs. Then passing info onto the wider community.


PotCoin -Grow With Us-
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December 10, 2015, 08:02:47 PM
 #5718


3-2-1 ... whinefest ... immanent
summons the barabbas

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ddd12md
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December 11, 2015, 04:56:41 AM
 #5719

Bittrex: This market (Potcoin) is in danger of de-listing due to low trade volume and lack of user interest. It may be removed on Friday, December 11th 2015 unless the average daily trade volume for the last 7 days exceeds 0.2 BTC.

Fired up a copy of my arb bot. I have it arbing pot only with no lower limit for profit %, IE it will grab every trade it can. I will leave it running for a few days and see if that brings up the volume enough to keep it from being delisted.

Where did you get your arb bot? Could you share it? I will also help to keep Potcoin from being delisted
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December 11, 2015, 05:01:13 AM
 #5720

Half a dozen total pennyless losers pretending to save this project that, the top four, let go completely when it was ever so easy so have made a success out of it.

This has just about the same chances of become even remotely successful as Kim Kardhasian becoming a nun...
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