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

[Chronikka]

Well it's clear all you are doing is attacking me, not actually addressing my comment that potcoin is/was attempting to be the bank for the industry.  Go back a few posts, I'm not the only one who is confused about the statement that potcoin aims to be the industry choice for banking and now is coming out with press releases that says they are maybe going to do some little tiny fraction of the t-shit business at one dispensary.

That's not press worthy.  

And you feel the need to attack me because I brought this to the fore.  Go back to your bridge.

I addressed it right away. I told you to be patient, just like I did the last time you asked similar questions. You just don't like that response.

[Sardine]

Relax, I have nothing to do with mediwipe or either of the other two links I posted.  My point, since the beginning of potcoin, is that there is no point for potcoin.  If potcoin aims to be the bank then they are failing miserably.

http://en.wikipedia.org/wiki/Bank
"A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank links together customers that have capital deficits and customers with capital surpluses."

http://en.wikipedia.org/wiki/Currency
"A much more general use of the word currency is anything that is used in any circumstances, as a medium of exchange. In this use, "currency" is a synonym for the concept of money."

http://en.wikipedia.org/wiki/Commodity
"In economics, a commodity is a marketable item produced to satisfy wants or needs.  Economic commodities comprise goods and services."

Potcoin is a currency or commodity, not a bank.
If the difference between a bank and cryptocoin is still not clear, then please use this forum.
https://bitcointalk.org/index.php?board=1.0

Start a new thread with this title "If Bitcoin aims to be the bank, then it is a miserable failure".

[Viceroy]

Relax, I have nothing to do with mediwipe or either of the other two links I posted.  My point, since the beginning of potcoin, is that there is no point for potcoin.  If potcoin aims to be the bank then they are failing miserably.

http://en.wikipedia.org/wiki/Bank
"A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank links together customers that have capital deficits and customers with capital surpluses."

http://en.wikipedia.org/wiki/Currency
"A much more general use of the word currency is anything that is used in any circumstances, as a medium of exchange. In this use, "currency" is a synonym for the concept of money."

http://en.wikipedia.org/wiki/Commodity
"In economics, a commodity is a marketable item produced to satisfy wants or needs.  Economic commodities comprise goods and services."

Potcoin is a currency or commodity, not a bank.
If the difference between a bank and cryptocoin is still not clear, then please use this forum.
https://bitcointalk.org/index.php?board=1.0

Start a new thread with this title "If Bitcoin aims to be the bank, then it is a miserable failure".

You go right ahead.  I'm happy to argue that bitcoin would be a much better (more stable, better known, larger market, has more utility) choice than potcoin for any dispensary but that's not your point is it?

Secondly...The coin is still 4 months old. 4 months. If you told me 4 months ago that a dispensary would be accepting Potcoin, with ATMs physically located inside the dispensary I would have invested a lot more.

Wasn't that the original goal that was being told to us 4 months ago?

I guess I'm not the only one who remembers why potcoin was launched and what it was designed to do.  You can try to tell us that it was never designed to be the solution for dispensaries.  (I was one of the first to challenge that notion stating clearly that potcoin will NEVER solve the dispensary banking problem... it cannot).  Yet we need to sit through press releases that say "hey a dispensary wasted alot of time and effort to place an ATM machine in their store that nobody has or will ever use".

[dragonseer]

Relax, I have nothing to do with mediwipe or either of the other two links I posted.  My point, since the beginning of potcoin, is that there is no point for potcoin.  If potcoin aims to be the bank then they are failing miserably.

http://en.wikipedia.org/wiki/Bank
"A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank links together customers that have capital deficits and customers with capital surpluses."

http://en.wikipedia.org/wiki/Currency
"A much more general use of the word currency is anything that is used in any circumstances, as a medium of exchange. In this use, "currency" is a synonym for the concept of money."

http://en.wikipedia.org/wiki/Commodity
"In economics, a commodity is a marketable item produced to satisfy wants or needs.  Economic commodities comprise goods and services."

Potcoin is a currency or commodity, not a bank.
If the difference between a bank and cryptocoin is still not clear, then please use this forum.
https://bitcointalk.org/index.php?board=1.0

Start a new thread with this title "If Bitcoin aims to be the bank, then it is a miserable failure".

You go right ahead.  I'm happy to argue that bitcoin would be a much better (more stable, better known, larger market, has more utility) choice than potcoin for any dispensary but that's not your point is it?

Secondly...The coin is still 4 months old. 4 months. If you told me 4 months ago that a dispensary would be accepting Potcoin, with ATMs physically located inside the dispensary I would have invested a lot more.

Wasn't that the original goal that was being told to us 4 months ago?

I guess I'm not the only one who remembers why potcoin was launched and what it was designed to do.  You can try to tell us that it was never designed to be the solution for dispensaries.  (I was one of the first to challenge that notion stating clearly that potcoin will NEVER solve the dispensary banking problem... it cannot).  Yet we need to sit through press releases that say "hey a dispensary wasted alot of time and effort to place an ATM machine in their store that nobody has or will ever use".

A legal cannabis industry can benefit from a crypto designed for it. It is an industry in need of better political representation, better organisation, better visibility. The first ATM for potcoin is now in a dispensary, it may well be the first of many. I don't think this thread will benefit from your posts though, why don't you troll elsewhere

[Viceroy]

Unlike the haters I actually made a suggestion many months ago about how to best use this coin.  You seem to prefer to keep your heads int he sand "oh it's called potcoin it MUST be good".  I'm sure you've read and understand my post so I'll not bother bringing it up again.  You seem to know sooo much. 

Go ahead and ignore me if you don't like what I say.  It's the link labeled "IGNORE" on the left under my name.  

[deanpreese66]

Unlike the haters I actually made a suggestion many months ago about how to best use this coin.  You seem to prefer to keep your heads int he sand "oh it's called potcoin it MUST be good".  I'm sure you've read and understand my post so I'll not bother bringing it up again.  You seem to know sooo much. 

Go ahead and ignore me if you don't like what I say.  It's the link labeled "IGNORE" on the left under my name.  

There have been many suggestions made and offers to help ... it seems many are ignored.  Really builds strength of community ... Right??

[bonesoul]

http://pot.coinium.org/

udated to 0.8.6.4

[ny2cafuse]

Unlike the haters I actually made a suggestion many months ago about how to best use this coin.  You seem to prefer to keep your heads int he sand "oh it's called potcoin it MUST be good".  I'm sure you've read and understand my post so I'll not bother bringing it up again.  You seem to know sooo much.  

Go ahead and ignore me if you don't like what I say.  It's the link labeled "IGNORE" on the left under my name.  

There have been many suggestions made and offers to help ... it seems many are ignored.  Really builds strength of community ... Right??

Make the offers on Reddit and they won't go ignored. 

[vesperwillow]

Unlike the haters I actually made a suggestion many months ago about how to best use this coin.  You seem to prefer to keep your heads int he sand "oh it's called potcoin it MUST be good".  I'm sure you've read and understand my post so I'll not bother bringing it up again.  You seem to know sooo much.  

Go ahead and ignore me if you don't like what I say.  It's the link labeled "IGNORE" on the left under my name.  

There have been many suggestions made and offers to help ... it seems many are ignored.  Really builds strength of community ... Right??

Make the offers on Reddit and they won't go ignored. 

[vesperwillow]

One thought on the reddit thing, perhaps PotCoin puts more energy toward them because they are seen as the more public outlet of the community. IE, the most likely largest influence on the internet.

Not saying it's wise, just saying, maybe that's why..

[Chronikka]

One thought on the reddit thing, perhaps PotCoin puts more energy toward them because they are seen as the more public outlet of the community. IE, the most likely largest influence on the internet.

Not saying it's wise, just saying, maybe that's why..

The reddit page probably is the better place to interact with the community. Here we are limited to the rules of bitcointalk, which are not always friendly to alt coins. Information here gets lost in the waves of posts about other alt coins. I generally tell people to check out the reddit page before I tell them to come here. Especially if they don't know a lot about bitcoin to begin with.

Most coins have their own set of forums. An "insert coin name here" talk.com like litecointalk or darkcointalk, but we don't. So the reddit page is the next best thing.

[ny2cafuse]

One thought on the reddit thing, perhaps PotCoin puts more energy toward them because they are seen as the more public outlet of the community. IE, the most likely largest influence on the internet.

Not saying it's wise, just saying, maybe that's why..

The reddit page probably is the better place to interact with the community. Here we are limited to the rules of bitcointalk, which are not always friendly to alt coins. Information here gets lost in the waves of posts about other alt coins. I generally tell people to check out the reddit page before I tell them to come here. Especially if they don't know a lot about bitcoin to begin with.

Most coins have their own set of forums. An "insert coin name here" talk.com like litecointalk or darkcointalk, but we don't. So the reddit page is the next best thing.

Which is why it is ludicrous to ask them what should be done with the coin in regards to mining specifics.  Why ask people what should happen to coin mining when they don't even understand coin mining?

Am I the only one that sees that?

-Fuse

[vesperwillow]

Which is why it is ludicrous to ask them what should be done with the coin in regards to mining specifics.  Why ask people what should happen to coin mining when they don't even understand coin mining?

Am I the only one that sees that?

I brought this up a couple of times. I typically bring this point up in threads where the dev's are saying they're going to poll the community to make a decision.

If you ask people what they want, they'll say free TV, Free food, free luxury housing and cars, and discounts everywhere. Doesn't make for a sound economy.

[Chronikka]

One thought on the reddit thing, perhaps PotCoin puts more energy toward them because they are seen as the more public outlet of the community. IE, the most likely largest influence on the internet.

Not saying it's wise, just saying, maybe that's why..

The reddit page probably is the better place to interact with the community. Here we are limited to the rules of bitcointalk, which are not always friendly to alt coins. Information here gets lost in the waves of posts about other alt coins. I generally tell people to check out the reddit page before I tell them to come here. Especially if they don't know a lot about bitcoin to begin with.

Most coins have their own set of forums. An "insert coin name here" talk.com like litecointalk or darkcointalk, but we don't. So the reddit page is the next best thing.

Which is why it is ludicrous to ask them what should be done with the coin in regards to mining specifics.  Why ask people what should happen to coin mining when they don't even understand coin mining?

Am I the only one that sees that?

-Fuse

The dev team chose not to ask anybody at first...they came right out and said they were going to halve the coin. Parts of the community were outraged and they decided to have a poll.

In my opinion the halving strategy should have been thought out from the launch. The first thing I noticed about this coin after it launched...no halving or any mechanism to reduce block rewards over time. It seemed odd. When it came time to actually implementing something we all had different opinions on how to do it.

[amarian12]

http://p2pool.e-pool.net:8989/static/

[ny2cafuse]

The dev team chose not to ask anybody at first...they came right out and said they were going to halve the coin. Parts of the community were outraged and they decided to have a poll.

In my opinion the halving strategy should have been thought out from the launch. The first thing I noticed about this coin after it launched...no halving or any mechanism to reduce block rewards over time. It seemed odd. When it came time to actually implementing something we all had different opinions on how to do it.

On the first point, the push for halving was made HEAVILY on reddit well before the poll.  Which is why I screamed for it after the halving announcement.  But you can go back and look at reddit and see how many people pushed for it before the poll.  I seriously questioned these peoples' crypto knowledge then, and I still do now.  You don't shout for change just because you think something will go "to da moonz".

I fully agree with the the first part of your second point, but there was a halving scheduled for POT.  It's in the first post of this thread, as follows:

Information
PoW algorithm: Scrypt
Premine: first 55 blocks where mined for checkpoints
Retarget: 107 blocks
Starting difficulty: 0.000
Max supply: 420 million
Reward halving interval: 840k blocks (~4.20 years)

There was a halving in place.  Why does everyone keep forgetting about that?  It's in the github, the website, the ANN post... how can people miss that?

-Fuse

[vesperwillow]

Honestly, I thought their original schedule was perfect. In fact if you look at what milestones have been achieved now, with the original schedule, it's in perfect alignment. We were going to hit the original first halving pretty soon, just after the first major milestone was hit: ATM Deployment.

[Chronikka]

The dev team chose not to ask anybody at first...they came right out and said they were going to halve the coin. Parts of the community were outraged and they decided to have a poll.

In my opinion the halving strategy should have been thought out from the launch. The first thing I noticed about this coin after it launched...no halving or any mechanism to reduce block rewards over time. It seemed odd. When it came time to actually implementing something we all had different opinions on how to do it.

On the first point, the push for halving was made HEAVILY on reddit well before the poll.  Which is why I screamed for it after the halving announcement.  But you can go back and look at reddit and see how many people pushed for it before the poll.  I seriously questioned these peoples' crypto knowledge then, and I still do now.  You don't shout for change just because you think something will go "to da moonz".

I fully agree with the the first part of your second point, but there was a halving scheduled for POT.  It's in the first post of this thread, as follows:

Information
PoW algorithm: Scrypt
Premine: first 55 blocks where mined for checkpoints
Retarget: 107 blocks
Starting difficulty: 0.000
Max supply: 420 million
Reward halving interval: 840k blocks (~4.20 years)

There was a halving in place.  Why does everyone keep forgetting about that?  It's in the github, the website, the ANN post... how can people miss that?

-Fuse

But that is my point...it was discussed on reddit and the dev ignored the naysayers. They just decided to halve the coin. Outrage ensued and they stepped back to actually listen. Or atleast they pretended to listen because they ended up doing the same thing anyway.

The 840k block has always existed but it doesn't make any sense which is why I disregard it. At 840k blocks and 420 coins per block, thats 352 million coins which is more than 75% of the supply.  So either it was always intended to halve the coin repeatedly in a short span (i.e. 4 times in a year) or the halving strategy was never set in stone and 840k block was just an estimate

[ny2cafuse]

But that is my point...it was discussed on reddit and the dev ignored the naysayers. They just decided to halve the coin. Outrage ensued and they stepped back to actually listen. Or atleast they pretended to listen because they ended up doing the same thing anyway.

The 840k block has always existed but it doesn't make any sense which is why I disregard it. At 840k blocks and 420 coins per block, thats 352 million coins which is more than 75% of the supply.  So either it was always intended to halve the coin repeatedly in a short span (i.e. 4 times in a year) or the halving strategy was never set in stone and 840k block was just an estimate

Exactly... they pretended to listen and pushed on regardless.  The fact that they said "we're running a poll" and "we're testing the wallet changes" in the basically the same breath shows that.  We're on the same page about that.  The poll just gave them the results they already knew they had because of the outcry of halving support from reddit.

The 840k block was a ways off... true, but it was there.  I'm sure a lot of people would agree that the halving could have been so many other things than what it ended up being.  I still wish they would have considered a continual small percentage decrease over time.  But oh well... what's done is done.

-Fuse

[deanpreese66]

But that is my point...it was discussed on reddit and the dev ignored the naysayers. They just decided to halve the coin. Outrage ensued and they stepped back to actually listen. Or atleast they pretended to listen because they ended up doing the same thing anyway.

The 840k block has always existed but it doesn't make any sense which is why I disregard it. At 840k blocks and 420 coins per block, thats 352 million coins which is more than 75% of the supply.  So either it was always intended to halve the coin repeatedly in a short span (i.e. 4 times in a year) or the halving strategy was never set in stone and 840k block was just an estimate

Exactly... they pretended to listen and pushed on regardless.  The fact that they said "we're running a poll" and "we're testing the wallet changes" in the basically the same breath shows that.  We're on the same page about that.  The poll just gave them the results they already knew they had because of the outcry of halving support from reddit.

The 840k block was a ways off... true, but it was there.  I'm sure a lot of people would agree that the halving could have been so many other things than what it ended up being.  I still wish they would have considered a continual small percentage decrease over time.  But oh well... what's done is done.

-Fuse

The reality as I see it now ---  

1) The model seem to be this  ... create a company, piggy back on crypto/Bitcoin craze, mask it as open source community driven, but never really engage with the very people who can make or break the product. Could it be called a scam?  Not really. But lets call a spade a spade and see it for what it is.
2) Screaming loud does not work ---I personally have tried to make points over and over (both here and on Reddit) ..... without much response or even acknowledgement from people in charge of POT
3) POT may be the last man standing in the CCN/DOPE/POT crypto battle -- which I hope is true.
4) POT may become successful beyond what we believe can could ever happen -- which I hope is true.
5) POT will likely never have a vibrant true community - one where developers, maintainers, marketers and community members all have opportunity to discuss an debate how the coin moves forward and how we can collectively help it grow.

ATMs are cool ... but crypto currencies are mostly a techie thing.  Yes, virtually everyone you talk to has heard of Bitcoin ... outside of your immediate techie friends. how many people that you know actually own any? My guess is very few.  Now how can we expect POT to be any better?  We cant -- but we can expect that strong community, transparency and communication - the viral effect - will offset more than we can give credit.

I will admit - they are trying to make progress, but too slow and too veiled in secrecy and it baffles me.  .. its not rocket science.  --- IMO without a full court press (using a basketball term)  on the social media/community side -- I unfortunately think the future of POT is limited.