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

[tokeweed]

That's good news to hear. I'm curious, is there any disadvantage to them making a positive statement vs a neutral one?

A neutral one would mean there is no ruling on it and that dispensaries could accept crypto currency as payment.

what dispensaries are accepting potcoin? how many are they now and how many more will be the projected estimate number of dispensaries that will come on board?

[1713563667]

1713563667

[1713563667]

1713563667

[PotCoin]

PotCoin Community,
The following letter has been drafted to address the Colorado Medical Marijuana Enforcement Division (M.E.D.) in regards to the use of virtual currencies for the purchase of marijuana and related products, both medical and recreational. This has been completed in coordination with attorney's Rachel K. Gillette, a renowned Cannabis Attorney out of Colorado, and Sean Kelly, PC or Oregon. Additionally, I would like to thank Ren Wilson, RedRhino, and Joel Yaffe for their support and consultation.
As an investor in cannabis technology and start-ups I have a significant interest in seeing thousands of hours of work and dollars not go to waste. In light of that, I have personally sponsored this letter and have contributed over $1k in USD and 100k in POT to date. While it is not necessary to seek any reimbursement, I am a bit smitten by the Vanity Ninja app that just came out, so if you want to help out send some coin to: PDUBYGH5GJNhQ8U6iYS8jceRfMBdLxYY7p
We will receive a response within 30 days and when the M.E.D. formulates a response it will be made publicly available on their site at the following location: https://www.colorado.gov/pacific/enforcement/laws-constitution-statutes-and-regulations-marijuana-enforcement#
Once received, this public document will serve to ease any concerns of Colorado dispensary owners regarding the use of virtual currencies for the sale of marijuana and related products. This letter is in preparation for plans underway to integrate with cannabis retailer point-of-sale systems combined with a universal mobile application for customers.

February 1, 2015
Ms. Barbara Brohl Executive Director – Colorado Department of Revenue State Licensing Authority - Marijuana Enforcement Division 455 Sherman Street, Suite 390 Denver, CO 80203
Re: Petition for Statement of Position
Dear Ms. Brohl:
On behalf of my client marijuana business licensees and pursuant to 1 CCR 212-1-1.104 and 1 CCR 212-2.104, I hereby petition the Division for a statement of position concerning the applicability of provisions of the Medical and Retail Marijuana Code, or any other statute or regulation of the State Licensing or other Authority. We request a statement of position for clarity and in order to achieve compliance.
Background: Virtual currency is a digital representation of value that functions as a medium of exchange, a unit of account, and/or a store of value. It operates like “real” currency -- i.e., the coin and paper money of the United States that circulates and is customarily used and accepted as a medium of exchange -- but it is not a fiat currency. Federal and State governments are aware that “virtual currency” may be used to pay for goods or services, or held for investment. Hundreds of businesses in Colorado from Microsoft to Jerome’s Pizza in Denver are already accepting virtual currency as a form of payment.
In this instance, the company offering the marijuana business the ability to accept virtual currency would collect no transaction fees. The marijuana business’s customer is offered the option to pay with virtual currency or cash at time of sale. The marijuana business’s point of sale software would check the current live markets for actual price of the virtual currency in U.S. Dollars at time of sale and record the transaction, much like any other cash or credit card transaction. The transaction takes seconds and automatically would update the merchant’s Point of Sale terminal instantaneously. The software dovetails with the marijuana business’s marijuana inventory tracking system (“METRC”, formerly “MITS”) and logs every transaction.
All transactions would be recorded in U.S. Dollar value, thus the customer would be paying applicable Colorado taxes at the Point of Sale.
Clarification of whether a medical marijuana business licensee may accept virtual currency, as a form of payment for medical marijuana products or other products. Questions:
1 CCR 212-1:1.309
Secondary Software Systems Allowed a. Nothing in this rule prohibits a Medical Marijuana Business from using separate software applications to collect information to be used by the business including secondary inventory tracking or point of sale systems.
Questions:
(a) May a licensed medical marijuana store accept a virtual currency as a form of payment for marijuana and marijuana products from customers?
(b) May a licensed medical marijuana store accept virtual currency for other (non-marijuana) products from customers?
(c) May a licensed medical marijuana business use a virtual currency for wholesale marijuana and marijuana products transactions with another licensed medical marijuana business?
Clarification of whether a recreational marijuana business licensee may accept virtual currency, as a form of payment for recreational marijuana or other products.
1 CCR 212-2.309 4. Secondary Software Systems Allowed a. Nothing in this rule prohibits a Retail Marijuana Establishment from using separate software applications to collect information to be used by the business including secondary inventory tracking or point of sale systems.
Questions:
(a) May a licensed recreational marijuana store accept a virtual currency as a form of payment for marijuana and marijuana products?
(b) May a licensed recreational marijuana store accept virtual currency for other (non-marijuana) products from customers?
(c) May a licensed medical marijuana business use a virtual currency for wholesale marijuana and marijuana products transactions with another licensed medical marijuana business?
I look forward to your response to these questions within 30 days pursuant to 1 CCR 212-2.104 (A) and I thank you for your time and attention to this matter.
Pursuant to 1 CCR 212-2.104 (E), I hereby affirm that this petition for a statement of position to the Division was mailed, on the same day that the petition was filed with the Division, to the relevant jurisdiction.
Sincerely,
Rachel K. Gillette, Attorney
cc: Lewis Koski, Executive Director, MED Kelly Rosenberg, Colorado AG Office John Viverito, Colorado AG Office

[forzendiablo]

mining POT alot lately with my titan.
good going with this letter

[Bralex]

Is this the main point of contact the POT?

[15Lemon714]

Is this the main point of contact the POT?

Lol! if it is i will not be investing damn the ignorance i was about to ask the same thing but i wont bother 

[crackfoo]

Heya

Just FYI that we're mining POT on our multipool: www.xpool.ca and miners have the option to keep their POT when it gets mined just by entering your POT address in your user settings.

Cheers!

[nil8tor]

Wasn't there a guy that was going to work on PR, and specifically forum communication here?  I think his name was Russ or something.  I would have to go back and look, but he was supposed to be the liaison to the forums.  That went nowhere, fast.

If POT is doing things, and not the "we paid this guy X amount of bitcoin to say potcoin was cool" type things, then you need to announce it here as well.  90% of your miners, new and old, are going to come from these forums.  You lost a ton of them when you took Reddit user opinions over that of veteran miners.  If you want to win back miners, and help the coin in the long run, don't just blow smoke up our ass here.

-Fuse

Fuse,

Let me start by giving credit to Fuse. You rock brother! You have been a very active member of this community for quite some time and I love your witty insight. Thank you for calling me out.

Leaving me to write on the forums may not the best idea, although I aim to empower and employ others to represent the coin properly. Yes, I write fairly well and enjoy doing it, but I am a very busy man. I am running several cannabis start-up companies at the moment and I consider PotCoin to be one of them. Even though I left PotCoin as CIO to pursue my latest interest, Duby (duby.co) a mobile app launching in next month, I still work closely with the founders regularly and will be happy to provide my insight at such an opportune time.

We will be establishing a better communication path to the PotCoin community very soon. I can't say much about the PotCoin 3.0 plans yet since we are finalizing plans before the end of this month, but I can tell you that there will be a some big news coming up in the next couple of weeks that the community will be pleased with.

One of the many goals is to ensure the community has the opportunity to have a larger role in the coin and that they feel supported in their endeavors. We also aim to make online merchant adoption far easier, along with universal applications for consumer to merchant transactions. Some changes will be swift over the next two months. Others, such as software development and third party integration, are time and budget bound and in some cases dependent on future tech, so please be patient and know that this is far from a dead coin. Honestly, for a 1 year start-up tech company I would be generally happy with the results, but the cryptocurrency industry can be brutal at times. Keep in mind that PotCoin is unique in that we serve a specific community and culture where our strategies put less of a priority on software development in comparison to community adoption.

This is a monumental year for cannabusiness and the best times have yet to come. Yes, there is a driver at the wheel and a crew to change the tires. The PotCoin Stig is behind the wheel of this rally car and I'm navigating with a crew of founders, devs, and vibrant community.

I expect the Colorado M.E.D. to be content, or at least officially take no position with the use of virtual currencies for the exchange of marijuana in Colorado (as expected). Our attorneys and I have worked on this for some time now and feel that it will set a historical precedent in the industry by removing concerns for dispensary owners, growers and manufacturers of infused products in Colorado. We are fortunate that Colorado, unlike Washington and Oregon, allows for public submission of requests for a statement of position on their rulings. This will serve a unique advantage in my local territory and will shape history by setting a precedent for other legalized states moving forward.

I welcome criticism. Frankly, it's deserving since PotCoin Systems has been relatively quiet recently. A new PotCoin is on the horizon and I can assure you that we are working diligently behind the scenes. I make a personal promise to be more transparent in the future through multiple media outlets. Have faith my friends, a new PotCoin is in our future.

 - NIL

[ny2cafuse]

+1 for saying I rock. 

-Fuse

[hcf27]

Hey,

We are running a Potcoin Marketing Campaign on some well known bitcoin webpages, you can find out more about it and how to contribute on potcoin official forum: http://www.potcoinjoint.com/forum/potcoin/discussion/2961-potcoin-marketing-campaign

Regards!

[vesperwillow]

We will be establishing a better communication path to the PotCoin community very soon. I can't say much about the PotCoin 3.0 plans yet since we are finalizing plans before the end of this month, but I can tell you that there will be a some big news coming up in the next couple of weeks that the community will be pleased with.

One of the many goals is to ensure the community has the opportunity to have a larger role in the coin and that they feel supported in their endeavors. We also aim to make online merchant adoption far easier, along with universal applications for consumer to merchant transactions. Some changes will be swift over the next two months. Others, such as software development and third party integration, are time and budget bound and in some cases dependent on future tech, so please be patient and know that this is far from a dead coin. Honestly, for a 1 year start-up tech company I would be generally happy with the results, but the cryptocurrency industry can be brutal at times. Keep in mind that PotCoin is unique in that we serve a specific community and culture where our strategies put less of a priority on software development in comparison to community adoption.

Wasn't that the same mantra of PotCoin 2.0 ??

I expect the Colorado M.E.D. to be content, or at least officially take no position with the use of virtual currencies for the exchange of marijuana in Colorado (as expected). Our attorneys and I have worked on this for some time now and feel that it will set a historical precedent in the industry by removing concerns for dispensary owners, growers and manufacturers of infused products in Colorado. We are fortunate that Colorado, unlike Washington and Oregon, allows for public submission of requests for a statement of position on their rulings. This will serve a unique advantage in my local territory and will shape history by setting a precedent for other legalized states moving forward.

That's positive news.

[nil8tor]

We will be establishing a better communication path to the PotCoin community very soon. I can't say much about the PotCoin 3.0 plans yet since we are finalizing plans before the end of this month, but I can tell you that there will be a some big news coming up in the next couple of weeks that the community will be pleased with.

One of the many goals is to ensure the community has the opportunity to have a larger role in the coin and that they feel supported in their endeavors. We also aim to make online merchant adoption far easier, along with universal applications for consumer to merchant transactions. Some changes will be swift over the next two months. Others, such as software development and third party integration, are time and budget bound and in some cases dependent on future tech, so please be patient and know that this is far from a dead coin. Honestly, for a 1 year start-up tech company I would be generally happy with the results, but the cryptocurrency industry can be brutal at times. Keep in mind that PotCoin is unique in that we serve a specific community and culture where our strategies put less of a priority on software development in comparison to community adoption.

Wasn't that the same mantra of PotCoin 2.0 ??

Fair enough, my friend. I left PotCoin Systems officially on October 1st, 2014 along with Alec Rochford, my cousin and now CEO of Duby. There was a disagreement on strategies for managing PotCoin Systems and budgetary concerns as capital rapidly dried up with the fall of Bitcoin late last year. Alec and I made the decision to turn the majority of our investments into a new mobile application based on a concept of viral social networking that we had been designing over the past year in our "spare time". However, we continued to support the PotCoin community, invest in the coin, manage social media, and manage all the servers since then. So, to more accurately answer your question... yes, it was my mantra and still is, but now we will be able to execute it properly as a community and not a company. PotCoin 2.0 had such intentions in mind from the get go, but we had to focus on our branding, apps, legalities, and overall growing up from the Pothead down the street and into a real company capable of obtaining large capital investment. Sometimes it simply takes time for a message to sink in before a coordinated action can be negotiated successfully.

I expect the Colorado M.E.D. to be content, or at least officially take no position with the use of virtual currencies for the exchange of marijuana in Colorado (as expected). Our attorneys and I have worked on this for some time now and feel that it will set a historical precedent in the industry by removing concerns for dispensary owners, growers and manufacturers of infused products in Colorado. We are fortunate that Colorado, unlike Washington and Oregon, allows for public submission of requests for a statement of position on their rulings. This will serve a unique advantage in my local territory and will shape history by setting a precedent for other legalized states moving forward.

That's positive news.

Indeed. I expect a response within the next two weeks. This will be a historic moment for cannabis crypto as the first official acknowledgement from a government entity relating to virtual currencies and legalized marijuana sales.

There is a lot happening right now in PotCoin. Heck there is a lot happening in all three of my marijuana businesses... it's almost 4.20! It's like Christmas to retailers... everything is nuts 3 months before the rush.

READ THIS FOR MORE: http://www.reddit.com/r/potcoin/comments/2ww0qe/status_update_potcoin_30/

 - NIL

[dragonseer]

We will be establishing a better communication path to the PotCoin community very soon. I can't say much about the PotCoin 3.0 plans yet since we are finalizing plans before the end of this month, but I can tell you that there will be a some big news coming up in the next couple of weeks that the community will be pleased with.

One of the many goals is to ensure the community has the opportunity to have a larger role in the coin and that they feel supported in their endeavors. We also aim to make online merchant adoption far easier, along with universal applications for consumer to merchant transactions. Some changes will be swift over the next two months. Others, such as software development and third party integration, are time and budget bound and in some cases dependent on future tech, so please be patient and know that this is far from a dead coin. Honestly, for a 1 year start-up tech company I would be generally happy with the results, but the cryptocurrency industry can be brutal at times. Keep in mind that PotCoin is unique in that we serve a specific community and culture where our strategies put less of a priority on software development in comparison to community adoption.

Wasn't that the same mantra of PotCoin 2.0 ??

Fair enough, my friend. I left PotCoin Systems officially on October 1st, 2014 along with Alec Rochford, my cousin and now CEO of Duby. There was a disagreement on strategies for managing PotCoin Systems and budgetary concerns as capital rapidly dried up with the fall of Bitcoin late last year. Alec and I made the decision to turn the majority of our investments into a new mobile application based on a concept of viral social networking that we had been designing over the past year in our "spare time". However, we continued to support the PotCoin community, invest in the coin, manage social media, and manage all the servers since then. So, to more accurately answer your question... yes, it was my mantra and still is, but now we will be able to execute it properly as a community and not a company. PotCoin 2.0 had such intentions in mind from the get go, but we had to focus on our branding, apps, legalities, and overall growing up from the Pothead down the street and into a real company capable of obtaining large capital investment. Sometimes it simply takes time for a message to sink in before a coordinated action can be negotiated successfully.

I expect the Colorado M.E.D. to be content, or at least officially take no position with the use of virtual currencies for the exchange of marijuana in Colorado (as expected). Our attorneys and I have worked on this for some time now and feel that it will set a historical precedent in the industry by removing concerns for dispensary owners, growers and manufacturers of infused products in Colorado. We are fortunate that Colorado, unlike Washington and Oregon, allows for public submission of requests for a statement of position on their rulings. This will serve a unique advantage in my local territory and will shape history by setting a precedent for other legalized states moving forward.

That's positive news.

Indeed. I expect a response within the next two weeks. This will be a historic moment for cannabis crypto as the first official acknowledgement from a government entity relating to virtual currencies and legalized marijuana sales.

There is a lot happening right now in PotCoin. Heck there is a lot happening in all three of my marijuana businesses... it's almost 4.20! It's like Christmas to retailers... everything is nuts 3 months before the rush.

READ THIS FOR MORE: http://www.reddit.com/r/potcoin/comments/2ww0qe/status_update_potcoin_30/

 - NIL

I remember last year there was a big price rise ahead of 4/20 and people started cashing out before any news about Potcoin's presence at events could emerge. That's the nature of speculating, but hopefully these upcoming announcements will pave the way for adoption to really kick into gear this time around 

[dogechode]

What is the latest wallet version and where can I download it?

[sa_ddam213]

POT block explorer added to Cryptopia
https://www.cryptopia.co.nz/BlockExplorer?currencyId=6

[fartbags]

My apprentice has accepted a project https://bitcointalk.org/index.php?topic=967364

Let me know what you think about The 420 Alliance Joint Force idea.

POT will be accepted at the store.

[hcf27]

What is the latest wallet version and where can I download it?

from potcoin.com

[ironhammer5]

How's it going fellow PotCoiners?

I come today bearing a bit more information on all this PotCoin 3.0 business you've been hearing about, and I'm happy to tell you I'll be a big part of this transition.

The goal here is to move PotCoin in the direction it should have taken from the beginning; being a coin that is truly owned, maintained and adapted by its users, the awesome PotCoin community.

Official coin of the cannabis industry? I always hated that term. Let's make it the coin of the cannabis community, unofficially. Organic adoption over time is what can make that official.

The transition begins...

Russ has mentioned decentralized autonomous organisations in his recent posts, and that is the end-game that PotCoin will strive to achieve in the long-term. However, this will be a very gradual process taking place over a number of steps -- the first step is facilitating a handover to the community.

Community ownership is awesome, but it must be co-ordinated and structured in a way that it doesn't just fall apart. So, while there's no CEO and no official titles, we have decided to group the community members who participate into two roles; Decentralized Admins and Decentralized Developers.

Decentralized Admins (DA):

I will personally be labelled as Lead Decentralized Admin, heading up a core group of community admins who will be responsible for a multitude of tasks, these will include full maintenance of the PotCoin.com website and the PotCoin social media accounts, and everything else that needs to be done to keep things going and growing.

Decentralized Developers (DD)

This is a group of people with some kind of development skills, and Russ will be leading this group as Lead Decentralized Developer. These will be the people who not only work on the coin, but also on other tools, services, websites or anything else that can compliment it in some way.

It's likely that some of us will cross between both of these groups at times, and both groups will be working together on the whole.

We need to assemble a team of dedicated DAs and DDs. We have been/will be reaching out to some long-term and more involved PotCoin supporters regarding this, but we are also open to applications from anybody out there. Send an email to nil@duby.co if you are interested, detailing how you think you may be able to help.

In the future, once everything is rolling, we will decide upon a democratic process so that the whole community can influence future members or leaders in the project.

Revealing the new PotCoin 3.0 model in detail

We want to do this the right way, and are now in the stages of finalizing complete and detailed documentation of the new PotCoin model with the hope to publish it in a week or so from now.

We will be asking potential DAs and DDs to assist with reviewing this documentation, so that when published we can be confident it’s a plan that everyone involved is happy to pursue.

Once published, there will be time for the wider community to analyse the model and bring up suggestions, concerns or things they just plain don’t like about it. Nothing is set in stone, and the community’s feedback will not only be listened to, it will be asked for.

We’ve seen many  things that this community is capable of as individuals -- Russ and I believe that if we all work together there is no limit to what we can achieve with PotCoin and the cannabis community.

Stay awesome!

Bobby (Ironhammer5)

TL;DR - Russ and I are leading the charge towards a community-led PotCoin, and it will be amazing. Need applicants to help. Detailed documentation of plans to come soon.

[Bralex]

This is good thanks for all the updates guys glad i noticed this and glad i got in on time looks like there was alot of exciting things in progress that i missed first time around, looks like we have a good team behind the scenes and maybe a good chance for Potcoin to lead the way! Well done.

[hcf27]

Hey, just wanted to share another great project from the Potcoin Community: http://potcoinbanners.com/

Its a really cool cross-promotion website, I have been using it for my blog and works really well, and the best thing is that is free!

[siineufell]

potcoin had a chance a few weeks ago. now....who knows