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

[anyone4u]

Hey look everyone! The guy who stole the 4 million PotCoin from CryptoRush is blatantly dumping on Cryptsy, pic related
http://imgur.com/gjcn95w

He just dumped 106K and 46K and is now dumping another 69K. He obviously doesn't give a single fuck either, it's obviously him. At this rate he should be done dumping in about 2 weeks. Enjoy the really, really, really cheap prices that should be coming. Sorry to anyone who lost their coins. If he's in the U.S. (doubtful) he could possibly get arrested, who knows?

[nomad13666]

Hey look everyone! The guy who stole the 4 million PotCoin from CryptoRush is blatantly dumping on Cryptsy, pic related
http://imgur.com/gjcn95w

He just dumped 106K and 46K and is now dumping another 69K. He obviously doesn't give a single fuck either, it's obviously him. At this rate he should be done dumping in about 2 weeks. Enjoy the really, really, really cheap prices that should be coming. Sorry to anyone who lost their coins. If he's in the U.S. (doubtful) he could possibly get arrested, who knows?

Ya, a good boot to the head and THEN arrested. The thieving little fuck.

[davidroux]

Hey look everyone! The guy who stole the 4 million PotCoin from CryptoRush is blatantly dumping on Cryptsy, pic related
http://imgur.com/gjcn95w

He just dumped 106K and 46K and is now dumping another 69K. He obviously doesn't give a single fuck either, it's obviously him. At this rate he should be done dumping in about 2 weeks. Enjoy the really, really, really cheap prices that should be coming. Sorry to anyone who lost their coins. If he's in the U.S. (doubtful) he could possibly get arrested, who knows?

More for me to buy

[davidroux]

Another nice article for us https://news.vice.com/articles/stoners-now-have-their-own-cryptocurrency-potcoin

Getting back into Potcoin but this time with a bang! Im not missing out on this one. Lots of hype over potcoin last few days... expect to see the price increase soon. Android app and POS systems coming soon it has to

[vesperwillow]

People just need to remain steady. If you want to mine it, mine and stay on your favorite pools. If you want to just hold some coins, buy them now before the price goes up. Pick one, or both.. and stick to it.

Unless you guys were around in BTC's early days, things were no different honestly. Potcoin is still, like its competition, a fetus. It hasn't yet been born into the commercial world, and has yet to grow, but there is great potential.

[dexternax]

Hello everyone! I am fairly new to PotCoin and Bitcoin.  Recent news has me asking a few questions... I am a merchant looking into accepting PotCoin within my 3 dispensaries I own. I have had many 'cash' problems and I am tired of dealing with the banks. I read several articles online over the past week and have begun doing a lot of research on PotCoin.

Has there been any official PotCoin or CryptoRush statements regarding the PotCoin that was stolen? About 7.5% of the current circulated PotCoin were involved in this hack I think this needs to be addressed by someone...

Part of my research has been figuring out the stability of the coin...
* 18+million coins have been mined by a group called scryptominers who are notorious for just dumping coins
* 4+ million coins were hacked

As a merchant looking at PotCoin for future I see 40%+ of the current PotCoins as what you guys call 'dumpable' and is currently apparently being seen within the market... What kind of advantage is there to using PotCoin vs. BitCoin? How can there be ANY stability if 40%+ of the market is just waiting to dump their coins?

PLEASE correct me if I am wrong I am just trying to understand how PotCoin can be beneficial to my businesses under such volatility.

[piropig]

Hello everyone! I am fairly new to PotCoin and Bitcoin.  Recent news has me asking a few questions... I am a merchant looking into accepting PotCoin within my 3 dispensaries I own. I have had many 'cash' problems and I am tired of dealing with the banks. I read several articles online over the past week and have begun doing a lot of research on PotCoin.

Has there been any official PotCoin or CryptoRush statements regarding the PotCoin that was stolen? About 7.5% of the current circulated PotCoin were involved in this hack I think this needs to be addressed by someone...

Part of my research has been figuring out the stability of the coin...
* 18+million coins have been mined by a group called scryptominers who are notorious for just dumping coins
* 4+ million coins were hacked

As a merchant looking at PotCoin for future I see 40%+ of the current PotCoins as what you guys call 'dumpable' and is currently apparently being seen within the market... What kind of advantage is there to using PotCoin vs. BitCoin? How can there be ANY stability if 40%+ of the market is just waiting to dump their coins?

PLEASE correct me if I am wrong I am just trying to understand how PotCoin can be beneficial to my businesses under such volatility.

You will probably get more detail answers as the day goes on but I will provide you with what I know.  As with any coin that has a very involved development team/community, you will have people holding coins just to sell them when the price goes up.  Even though bitcoin is much older than potcoin there are still people doing this with bitcoin.  They are kind of like the stock market.  When price goes up people sell and when price is down people buy. 

This hack was more than likely because of a shady exchange site.  You don't get these kind of problems with mintpal or crytpsy.  Bitcoin had the same issue with mt gox last month.  I'm pretty sure that the potcoin dev team will be releasing tools that will help you as a dispensary owner be able to except and exchange pot more easily.  I'm sure they will be contacting you as well to answer any and all of your questions.  Potcoin is solely for the legitimate Marijuana business.  Its not being geared for other uses and this is one of the reasons why it can be a very beneficial coin.  Hope to have you as part of the community.

[dogechode]

Well, for starters you can immediately exchange whatever potcoin you accept as payment, ie multiple times a day, or once daily, or on some sort of schedule along those lines so that you aren't as exposed to price volatility.

[vesperwillow]

I would also take all news with a grain of salt until a volume of undeniable evidence can point to one direction or another; whether coin was hacked/stolen, the wallet simply lost, etc. Don't leave any significant value in any exchange. Even Cryptsy is vulnerable, in fact all exchanges are.

Why use XYZ coin instead of Bitcoin for ABC purpose? That's always a good question. IMO if there's a business model in place with special features and/or agreements, then the unique coin in question would be worthwhile--otherwise use BTC.

LTC and FTC were geared toward smaller transactions, for example.

[SilveradoHaze]

Hello everyone! I am fairly new to PotCoin and Bitcoin.  Recent news has me asking a few questions... I am a merchant looking into accepting PotCoin within my 3 dispensaries I own. I have had many 'cash' problems and I am tired of dealing with the banks. I read several articles online over the past week and have begun doing a lot of research on PotCoin.

Has there been any official PotCoin or CryptoRush statements regarding the PotCoin that was stolen? About 7.5% of the current circulated PotCoin were involved in this hack I think this needs to be addressed by someone...

Part of my research has been figuring out the stability of the coin...
* 18+million coins have been mined by a group called scryptominers who are notorious for just dumping coins
* 4+ million coins were hacked

As a merchant looking at PotCoin for future I see 40%+ of the current PotCoins as what you guys call 'dumpable' and is currently apparently being seen within the market... What kind of advantage is there to using PotCoin vs. BitCoin? How can there be ANY stability if 40%+ of the market is just waiting to dump their coins?

PLEASE correct me if I am wrong I am just trying to understand how PotCoin can be beneficial to my businesses under such volatility.

Hi Dexternax:There is no such thing as 40% dumpable coins. Scryptominers is a pool of miners, it's not an investment consortium or anything, it's just miners mining coins and selling them when they need money, this doesn't bring instability, au contraire. About the stolen coins, it was the exchange operators fault, so it's not like potcoin is easier to steal than bitcoins, it really just an operator mistake. I watch the exchanges 24/7, I can tell you that at least half of the coins have already been put back in circulation for cheap price, and the value is already starting to rise again. The buying support for this coin is incredible in my opinion. You should contact the potcoin team in order to be setup to accept transactions, keep in mind the official commercial launch will be on 4/20.

[dogechode]

It's also worth mentioning that this theft, if it was actually theft, pales in comparison to the massive theft of 850,000 bitcoins (which was worth about half a BILLION dollars) from Mt. Gox. I only mention this because you seem to be implying that Bitcoin is safer than Potcoin.

[sirsmokesalot]

People just need to remain steady. If you want to mine it, mine and stay on your favorite pools. If you want to just hold some coins, buy them now before the price goes up. Pick one, or both.. and stick to it.

Unless you guys were around in BTC's early days, things were no different honestly. Potcoin is still, like its competition, a fetus. It hasn't yet been born into the commercial world, and has yet to grow, but there is great potential.

Right on!

[vleroybrown]

Hello everyone! I am fairly new to PotCoin and Bitcoin.  Recent news has me asking a few questions... I am a merchant looking into accepting PotCoin within my 3 dispensaries I own. I have had many 'cash' problems and I am tired of dealing with the banks. I read several articles online over the past week and have begun doing a lot of research on PotCoin.

Has there been any official PotCoin or CryptoRush statements regarding the PotCoin that was stolen? About 7.5% of the current circulated PotCoin were involved in this hack I think this needs to be addressed by someone...

Part of my research has been figuring out the stability of the coin...
* 18+million coins have been mined by a group called scryptominers who are notorious for just dumping coins
* 4+ million coins were hacked

As a merchant looking at PotCoin for future I see 40%+ of the current PotCoins as what you guys call 'dumpable' and is currently apparently being seen within the market... What kind of advantage is there to using PotCoin vs. BitCoin? How can there be ANY stability if 40%+ of the market is just waiting to dump their coins?

PLEASE correct me if I am wrong I am just trying to understand how PotCoin can be beneficial to my businesses under such volatility.

Hello welcome to the distributed world of p2p financial banking tools.  Yes bitcoin serves a huge role in the adoption of efficient and improved banking.   But don't just focus on the exchange value of a unit, close the loop, help start the cycle of money in relation to expanded settlement and higher velocity by circular sustainability in the specific economies that can benefit most from the increased power politically and otherwise.  In specific marketplaces 50+% of purchases are driven by word of mouth. If a particular region or economy is experiencing a significant change in trade it will only affect other regions if a global currency is being used. We saw the results of this in the financial crisis which started specifically in New York but then spread across the globe. Had a big basket of regional/economic specific currencies been floating in value against each as efficiently as p2p currencies do, the changes are absorbed in more of a centralized way, causing minimal effect outside of a given region. Also this entices stronger currencies to capture the inefficiency of that region/economic market(s), stabilizing it much faster. P2P currencies full potential cannot be obtained with a winner takes all monopoly on trade efficiency as many think, nor is it even remotely possible that 7 billion people on this planet given the choice, are all going to willing accept some global monetary system whether it is centrally controlled or not.  

I have a cooperative business model that I have seed funding for, and am raising investment from Kiva, etc. as it quickly shapes up requiring traditional financial support in the intern.  But in the long run it can be a market that adds sustainability and acts as a voting system to better shape policy and popular support far more efficiently than we could ever hope to globally using any other model.

[Chronikka]

Hello everyone! I am fairly new to PotCoin and Bitcoin.  Recent news has me asking a few questions... I am a merchant looking into accepting PotCoin within my 3 dispensaries I own. I have had many 'cash' problems and I am tired of dealing with the banks. I read several articles online over the past week and have begun doing a lot of research on PotCoin.

Has there been any official PotCoin or CryptoRush statements regarding the PotCoin that was stolen? About 7.5% of the current circulated PotCoin were involved in this hack I think this needs to be addressed by someone...

Part of my research has been figuring out the stability of the coin...
* 18+million coins have been mined by a group called scryptominers who are notorious for just dumping coins
* 4+ million coins were hacked

As a merchant looking at PotCoin for future I see 40%+ of the current PotCoins as what you guys call 'dumpable' and is currently apparently being seen within the market... What kind of advantage is there to using PotCoin vs. BitCoin? How can there be ANY stability if 40%+ of the market is just waiting to dump their coins?

PLEASE correct me if I am wrong I am just trying to understand how PotCoin can be beneficial to my businesses under such volatility.

ScryptoMiners is not really a group, but a mining pool. The pool itself does not dump anything, but some of the early users who mine there have dumped coins.
"Dumping" isn't necessarily bad. If there is demand for the coins and people are buying them at market price then it doesn't crash, the coins just get re-distributed.

Its also fairly early in this coin's life. Most coins suffer pretty extreme volatility early in their lives. Despite that Potcoin has surprisingly held its value of late. People come in and complain about the price a lot but honestly anything about 1000 Satoshi lands Potcoin inside the top 50 coins in terms of its market cap: coinmarketcap.com  

Not bad for a coin less than 3 months old. Also, the price has actually been fairly stable since the initial bubble.





You can see there was a dip in the last week, probably due to the recent hack of cryptorush, but its rebounding well enough. For a coin barely 2 months old, its been pretty stable.

The developers here are very active. You should also check out the Reddit thread because they are active over there as well and there is a lot more info: www.reddit.com/r/potcoin

You should PM, email or even call the developers. I'm serious they will answer you. If you have questions or suggestions they will want to work with you.

[Xaltotun]

Hey look everyone! The guy who stole the 4 million PotCoin from CryptoRush is blatantly dumping on Cryptsy, pic related
http://imgur.com/gjcn95w

He just dumped 106K and 46K and is now dumping another 69K. He obviously doesn't give a single fuck either, it's obviously him. At this rate he should be done dumping in about 2 weeks. Enjoy the really, really, really cheap prices that should be coming. Sorry to anyone who lost their coins. If he's in the U.S. (doubtful) he could possibly get arrested, who knows?

Are you fuckin' stoned? Would you accuse me of stealing the Cryptorush coins if I chose to dump 200k coins?

[vleroybrown]

Starting immediately we will be offering members of the DopeCoin community with a reward for joining us on this adventure.
Every month we will be giving away a $100 USD gift certificate to a local, legal dispensary of your choice.

You don't live in an area that allows legal recreational marijuana use?
No Problem! We will be pleased to offer you a gift certificate to one of our brick and mortar retailers or online shops of your choice that currently accept DopeCoin.

But Dopey, I don't smoke weed but would still like to participate in this contest?
We understand that marijuana is not for everyone and we fully respect your right to live your life however you see fit. If you are chosen as a winner and are not interested in any kind of marijuana related products. We will happily provide you with an Amazon Gift Card of equal value.

Wow this sounds great! How does it all work?

Step 1: Register at http://pool.dopecoin.com and start mining
Step 2: Mine for at least 10 days out of the month to automatically qualify regardless of hash power
Step 3: Check the official DopeCoin development thread (https://bitcointalk.org/index.php?topic=467641.0) at the end of the month to see if you have won. No hoops to jump through, No hidden terms, it's just that easy folks.  

First Winner will be announced at the end of April and the contest starts NOW!

At the end of the month the winner will be selected with use of a random number generator and list of valid entrants and will be made publicly transparent to ensure a fair experience for all.  

We have a great community over here at DopeCoin and we are very grateful. Without the communities support this incredible project would not be possible. This is simply our way of saying thanks.

For more information about DopeCoin please visit http://dopecoin.com/ or want to meet the community on BTCtalk visit:
https://bitcointalk.org/index.php?topic=467641.new#new

Think we are done ? lol nope.... play some DopeCoin games:
http://dopecoin.com/games.php

I wanna give Mary Jane a Kiss.. Hey yeah, can we get any higher!

[anyone4u]

Hello everyone! I am fairly new to PotCoin and Bitcoin.  Recent news has me asking a few questions... I am a merchant looking into accepting PotCoin within my 3 dispensaries I own. I have had many 'cash' problems and I am tired of dealing with the banks. I read several articles online over the past week and have begun doing a lot of research on PotCoin.

Has there been any official PotCoin or CryptoRush statements regarding the PotCoin that was stolen? About 7.5% of the current circulated PotCoin were involved in this hack I think this needs to be addressed by someone...

Part of my research has been figuring out the stability of the coin...
* 18+million coins have been mined by a group called scryptominers who are notorious for just dumping coins
* 4+ million coins were hacked

As a merchant looking at PotCoin for future I see 40%+ of the current PotCoins as what you guys call 'dumpable' and is currently apparently being seen within the market... What kind of advantage is there to using PotCoin vs. BitCoin? How can there be ANY stability if 40%+ of the market is just waiting to dump their coins?

PLEASE correct me if I am wrong I am just trying to understand how PotCoin can be beneficial to my businesses under such volatility.

I can only say that they used to dump bitcoins like they were nothing back in the day. Heck a faucet every 3-4 hours could get you 3-4 coins per try. Now that same faucet would be essentially giving out 1500-2k easily if they were giving the same amount out. Also a pizza costed 10,000 btc if you are seeing where I am going with this... Adoption = rise in price = more uses=greater steady price. Its like if thousands of people had say a dollar but no one would take it for anything, it would not be worth nothing, not even if you combined thousands of them. Now if just 10 people took it, people would trade it there then others would start taking it then it rises in price as adoption grows. People will mine coins and dump anything, even high profitable coins/bitcoin/42coin/21coin etc. Some people just don't care about price, they immidiately want some btc. Others do care and keep their coins but maybe trade some coins for others. Say I want to buy something from one store and they only take (insert coin name here) and I have lots of (insert other coin name here). I can sell my (other coin name here) and trade them for (first coin name) and they can be used at the store I wanted to purchase from. I basically did dump, but exchanged one medium for another because I wanted the item that only took coin (1) as opposed to coin (2).

[anyone4u]

Hey look everyone! The guy who stole the 4 million PotCoin from CryptoRush is blatantly dumping on Cryptsy, pic related
http://imgur.com/gjcn95w

He just dumped 106K and 46K and is now dumping another 69K. He obviously doesn't give a single fuck either, it's obviously him. At this rate he should be done dumping in about 2 weeks. Enjoy the really, really, really cheap prices that should be coming. Sorry to anyone who lost their coins. If he's in the U.S. (doubtful) he could possibly get arrested, who knows?

Are you fuckin' stoned? Would you accuse me of stealing the Cryptorush coins if I chose to dump 200k coins?

:DogeyMcDoge
After seeing some posts on BCT last night about missing Potcoins on CR, I thought I would check my skype logs again. Uh oh.
I don't know the exact amount that was sold, but this was a converstion between LinkandZelda and I on the 24th. I was chatting him via mobile, and saw he sold some coins, but did not catch that it was 60 BTC worth of POT MZC and AUR.
I believe he did not keep them for himself, but rather put them into the exchange balance to keep some withdraws going through.

leaked chat logs from criptorush conversation
http://pastebin.com/hAfhJnfz

I have censored Skype names in this chat.
 
[3/24/2014 9:42:32 PM] *Link*: we sold about 150 BTC worth of shares last week
[3/24/2014 9:42:51 PM] *Link*: and we also sold some of the on site balance of mazacoin, pot coin and AUR
[3/24/2014 9:42:58 PM] *Link*: that brought in another 60 odd BTC
[3/24/2014 9:43:05 PM] *Link*: and even that much wasn't enough to sustain anything
[3/24/2014 9:43:31 PM] *Link*: I'm thinking more and more to pull some sort of statement
[3/24/2014 9:43:39 PM] *Link*: but our position is a lot tougher than that
[3/24/2014 9:43:43 PM] *Dogey*: cuz of fyr
[3/24/2014 9:43:49 PM] *Dogey*: and the supposed 500,000
[3/24/2014 9:43:50 PM] *Dogey*: well
[3/24/2014 9:43:52 PM] *Link*: yep
[3/24/2014 9:43:55 PM] *Dogey*: Heres what.
[3/24/2014 9:44:01 PM] *Link*: not just that, but the fact we opened CRS
[3/24/2014 9:44:15 PM] *Link*: making people invest in an insolvent company is really fraud
[3/24/2014 9:44:36 PM] *Link*: without announcing it before hand at least

[anyone4u]

I wanna give Mary Jane a Kiss.. Hey yeah, can we get any higher!

nice advertising you got there, come to competing coin and advertise your stuff... I wouldn't mine dopecoin if you paid me. The logo is misleading, it should be a needle on the front of the coin instead of a logo of weed. People who smoke weed don't call it dope. People who don't do weed call it dope. People who really do do dope call it heroin. Its like calling a Coke a pepsi even though they are different sodas, they are both colas but its the name/taste that says them apart. Let me go to http://www.urbandictionary.com/define.php?term=dope

Dope
People who do not do drugs call Marajuanna Dope.
People who do Marajuanna call Heroin Dope.
Word has also been used to describe how good somthing is.
Don't you be somkin' dope! ( AKA Marajuanna )

OMG, I smoke the green but I don't do dope ( AKA Heroin )

Man that car is dope!

[vleroybrown]

I wanna give Mary Jane a Kiss.. Hey yeah, can we get any higher!

nice advertising you got there, come to competing coin and advertise your stuff... I wouldn't mine dopecoin if you paid me. The logo is misleading, it should be a needle on the front of the coin instead of a logo of weed. People who smoke weed don't call it dope. People who don't do weed call it dope. People who really do do dope call it heroin. Its like calling a Coke a pepsi even though they are different sodas, they are both colas but its the name/taste that says them apart. Let me go to http://www.urbandictionary.com/define.php?term=dope

Dope
People who do not do drugs call Marajuanna Dope.
People who do Marajuanna call Heroin Dope.
Word has also been used to describe how good somthing is.
Don't you be somkin' dope! ( AKA Marajuanna )

OMG, I smoke the green but I don't do dope ( AKA Heroin )

Man that car is dope!

I didnt see tht!  pray for me MJ