Dude, I'm not even mining the coin. I haven't mined it for quite a long, long time. I have some I've been holding because I believe in it. I've been hoping to see POS systems and more ATMs, and more importantly, merchants! Where are the merchants!
Whether or not it's totally mined out, does that matter? At some point you'll be mined out entirely anyhow. What keeps it going is usage and the value people place into it. Cryptocurrency always has to be used to be worth anything, otherwise you're burning electricity to see decimal points move around.
I *am* looking long term. The decisions being made here are not good long term decisions. I've examined market price from day one, and the averages just keep slipping down, especially since the near-failed 4/20 day (IMO).
They said merchants were on the ground using it, with more lined up to get started, and that ATMs were popping up. Nope. None of this has occured, and as some other long term potcoin proponents pointed out on some alternate blogs, it appears they're still trying to get this stuff going. Denver, IMO, was a failure, which is one of the reasons there wasn't a lot of positive news from it. We were promised tons of news and great announcements from Denver.
Nothing big like that occured. There's supposedly 1 ATM on the ground, with possibly 1 merchant almost ready to sign a deal for one more system. That's not exactly progress, not like we were promised. This is why faith is being lost. This coin, up until 4/20, remained one of the most stable coins for value on all the markets, even when bitcoin was going down and other coins were dying. The long averages held. Even when multipools nailed us, the value and network held--what other coin can say that?
Now, it's not. Faith is fluttering. It's because the business side isn't coming online like was supposed to have occured. And announcements like this from the team makes things worse.
As a miner of POT from day one, a holder of a chunk of POT and a poster of some issues and solutions, I unfortunately agree. You have to be careful building hype and then not delivering.
I still believe that there will be a coin that will be used in the marijuana industry and be used in dispensaries, grow shops, online smoke shops, etc. There are multiple contenders POT, CCN, DOPE (I own some CCN and POT) .... one will likely win.
IMO (as of right now) :
DOPE is targeting the wrong segment of the market and I believe has a limited lifespan because DRK is a better alternative for the underground market
CCN (Cannacoin)has solid industry connections and leadership and was designed and built by a real player in the Seattle scene. This is the real deal. It is still immature and new, but they seem to be taking things slow and allowing it to build without forcing it. This is high on my watchlist and I continue to accumulate this coin.
POT over hyped itself by saying ""the coin of the industry" and made lots of references to Denver and outcomes and has not lived up to the expectations that were set. They have tried to run it like a business which is commendable, however, it has been at the expense of the community. AS a result, there is been very little focus on community building.
ALL coins succeed through adoption -- a major part of adoption for POT is by enabling and championing the community to spread the word about POT, how to obtain it, and why its better than alternatives. Sure you can put ATMs all over Denver, but if you don't know what POT is, its pointless. So, my point is this --- There is little chance that POT will succeed without a very strong, widespread and vocal community of champions shouting the accolades of POT from the hilltops.
There are some very strong and vocal people here (I am excluding my own opinions from this group - there are more qualified and connected people), that have made some very cogent points and provided some very good and clear ideas ... The group in charge of POT needs to listen to the community and enable some of these people to help with damage control and set this coin back on the track it was 6 weeks ago.
I am willing and eager to pitch in and help .... someone just needs to contact me and let's see if the visions match.
