I just bought PotCoin.
I'm not high! I'm getting hypnotized. Co-Ed Confidential Season 3
Yes, you read that right...
Dennis Rodman convinced me to buy some Potcoin. They sponsored his peaceful trip to the DPRK (North Korea). This has to be one of the most brilliant viral marketing campaigns anyone has done for a token yet. If it isn't make sure you leave a comment because I'd love to see some of the other stunts.
publicity still through Business Insider Article
This is a great idea...
Dispensaries are not the only business which is currently persecuted by the mainstream banking system. Those who work in or with the adult film industry are also hit by banks using "moral clauses." I know a producer who had his accounts canceled when he tried to refinance his home--At their recommendation!
Access to banking is a basic human right and it can be taken without warning or reason. This is the beauty of the blockchain! We can unbank people! Seriously, why are we talking about banking the unbanked... why not just unbank everyone?
First Impressions
The PotCoin wallet is the same as the Stratis wallet. Sharing code anyone? The website is slick. The exchange on Changelly took a bit longer than I'd prefer, but who cares? The price actually dropped so I have more Pot now...PotCoins now.
This Coin fulfills many of my requirements
- There is a need. (Consumers and Purveyors).
- There appears to be financial support and people are advertising it. (They're appearing at the Cannabis Conferences)
- Current valuation is under $1 (This allows for tons of growth and allows me to use my volatility fund).
- The Market has room for growth. (They have ATMs available and only a handful of shops have them).
- Real World application. (Seriously these people get cash in hand and can't do anything with it).
BTW it is also PoS, how neat is that right?
This post is not meant in anyway as trading advise and only reflects the opinions of the author
Edit: I downloaded the wallet and 36 hours later still downloading their blockchain...
If you liked this post check out some of my others:
- My Introduceyourself where I talk about my life in New York as an Actor, Photographer, and Filmmaker
- My first cooking blog about making a Whole Roast Chicken with Stuffing with pictures!
- Or my first NSFW post following the story about how I ended up doing Late Night softcore movies - Part 1
- Part 2 of how I got into Late Night movies
Unless otherwise noted all photos used are the work of Brandon Ruckdashel or official publicity material released by the projects I have been in.
I have had a Potcoin Wallet aince March staking away merrily everyday until a week of so ago. When I woke up and checked the open staking wallet -everything had gone and I mean every coin in the wallet that had been staking 775 plus (not much but hey) the debug message suggested everything was working fine until 5.02am and then the whole database somehow became corrupt causing an error and all my history and coins are gone. I have written to Potcoin over 4 times in the last week via email and via Twitter and wrote a post on here and have heard nothing from the Potcoin team about this at all. Which I am extremely disappointed about. I did nothing wrong, nothing different , staking as it had been everyday since March and everything is now Gone 775 coins gone and a error on the datatbase. There is obviously something strange going on, but it would be nice if Potcoin could actually respond to me. So from what I thought was a great coin turns out to be at present to be highly disappointing and the lack of communication from them is very poor.
https://steemit.com/potcoin/@diddywheldon/trouble-with-my-potcoin-wallet-if-anyone-can-assist-that-would-be-fantastic
I have a feeling I've seen things like this. Are you connected on the Telegram? I have a feeling they are heavy development right now and like most of these AltCoins the developers go underground when they are working away.
It took me almost a week to download the blockchain when I first installed the wallet, so they have a lot of improvements to make.
I am sorry to hear about your loss and hope the Dev Team is able to remedy it.
Hi - I think it was something to do with an update or something to do with the antivirus I am really not sure. I don't have telegram no - lucky it was only 775 coins. Hopefully they will at least contact me in due course, its been about 2 weeks now. Yes it took me along time to download too most of the wallets are the same though in that respect. Thank you for your response and I hope you have a great experience with the coin. I will invest again but maybe when they have a newer version of the wallet - once burnt and all that
Why not just use another existing crypto for this tho?
I agree! very well could be another crypto used for this. Heck an ERC20 token would probably be the best option. You would definitely need a big layer of anonymity and privacy because cannabis is not legal in America yet.
I think that people have a psychological thing about BTC at 2700$. Most people have trouble wrapping their heads around the idea of like 8 decimal places. People think in whole numbers. What do you think? ERC20 token?
ERC20 token, LiteCoin, Dash, whatever. I feel like this is a way of using blockchain hype to get fees.
There are also existing solutions in the space that do the same thing but don't need a blockchain.
Well they are spending the money to promote and they are appearing at cannabis industry events and conferences. In my experience this will sell their product to their audience. I bet they double the ATMs easily and before you know it every dispensary in Colorado has one.
We are not talking about a group of business owners who understand blockchain. They are a group of people who will get approached by a sales rep and that guy is going to explain PtCoin to them and then point to bitcoin as a sign of what can happen...and they'll buy it. You don't see the Ethereum guys actively promoting at Cannabis conferences do you?
Doesn't matter to me. What DOES matter is that there are already payment systems for Colorado and other state dispensaries which work. For example that has already been in Forbes, and already in the market: https://www.canpaydebit.com/
These system provide stable payment value for both buyer and sellers.
True, but does it solve the DEA problem?
Yes because its stored value card. It is not directly facilitating the transaction.
Well there ya go. :-) I like talking with you! So often something like this would have turned into a flame fest on Facebook.
very interesting but isn't it just a clone-coin? Why don't the dispensaries use other crypto's like Bitcoin or Ethereum... regardless I still think it is a good buy due to the Dennis Rodman/North Korea/Mainstream Media boost
Bitcoin and Ethereum I believe lack the true anonymity you'd need to do it in America. Remember pot is still illegal from the federal level and we all know how much they love looking at online Data to find "criminals."
Even buying PotCoin with dollars could be enough to show intent right?
I think Lisk is introducing tumbleBit, that may make it a good solution as well. It would also make Lisk very undervalued.
I am simply making the argument that this is one of many industries that will greatly benefit from the new economy and world that is forming.
yes there are a bunch that want to cater to anonymity. CloakCoin just released 2.0... and Dash... but I guess the name PotCoin fits the industry very well
And it isn't cheesy either! There is a coin for the escort industry called LoveCoin that has a terrible website and plan of action. What I see with PotCoin is that they are spending money to be at events. They are actively selling a physical product! I don't think any of the other coins are doing that. Is Ethereum or Bitcoin showing up at other industries conferences? I only see them at techie blockchain conferences.
Welcome! Finally you got the train! One advise: download the desktop wallet and stake them if you're long or mid term holder. I'm just holding 15K and got for 14 days 36 lil Pots back. The download of the wallet took quite some time... - so be patient!
Someone in the cryptocompare forum posted lately that PotCoin "just entered a contract with 22 businesses that will accept this coin!"
Gerald Celente also recommends to invest into the Cannabis business, because the bankrupt states have to look out where they can get some income; just like they did with the lottery... - first it was forbidden by them and after they've recognized how much cash can be made they've entered the market.
Brilliant post... - Cheers! P.s.: Dennis is awesome; he, Air jordan and Scottie Pippen - LEGENDS!!!
Total legends man and good to see they have business partnerships. I only bought a couple. I've got a small portfolio and am trying to move things around without getting nailed by a dip when I am trying to sell high...HIGH...hehehe
Thanks for the compliment! Same as crypto trading I am very new to Steem as well and trying to find my feet :-) Only been trading for a month and on Steem for almost 2 weeks! Cheers!!
interest coin 420 - i am aussie and i found you on team aust. i am now following and i upvoted this post -- all the best -David
Thank you David! I have a number of fans from my TV days in Australia :-) I've heard amazing things about the people there and can't wait to make a trip one day.
I bought some Potcoin too, it has real world application😉
Yes it does AND they show up at industry conferences to sell their product. Sometimes it isn't the best product it is the one that gets in front of customers.
I bought some Potcoin. Seems like a good idea. Of course, it seems prudent to diversify some and I have some other cryptocurrencies also. Nice article.