[POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 103.

rdyoung

legendary

Activity: 994

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Quote from: CartmanSPC on March 31, 2016, 02:45:30 AM

Quote from: jheaton on March 30, 2016, 12:59:56 PM

who wants to stake all the time anyway. His loss. Good for the network, bad for him, who cares.

Yup, I was for a while and then I noticed my wallet file start to balloon up in size so now I only stake every couple of weeks.

I would suggest staking 24/7 if you want the highest stake rate. My testing with the 100mod has me thinking that the stake rate is definitely tied to difficulty.
My spreadsheet had me pushing 7% and increasing on one of my 100k+ addresses. I changed it up to include all of my staking addresses and the % is just shy of 5% (I have only been running the "new math" for 2 days) I expect that 5%ish to increase quite a bit. If the code is working properly we could see upwards of 60% interest for our personal wallets, 7.5% of the supply is actively staking and I have rarely seen it go above 15% or so.

In short its what I have been saying for quite some time. If we want to see higher stake rates we need higher difficulty and the only way to do that is to get more inputs vying to stake.
If anyone (other than cartmanspc of course, DERP) wants to try the 100 threshold mod hit me up and I will send a link.

In closing this is a shoutout and a request for all who want to see potcoin thrive to get the diff up as high we can, if enough of us can honestly say that we are staking at 10%+ we can start pushing pot with the stake rate as part of the pitch. This will get more coins off the market and help buoy the price at the same time it increases our personal stake rates.

Addendum: I have uploaded both the 100 and the 5k modded exe's to amazon cloud.
https://www.amazon.com/clouddrive/share/3ZFxNGbUcJF8vF25DY25JVqrTG5AGR5PSOCiMLI9fnG?ref_=cd_ph_share_link_copy
If your not using a custom location for the data you can simply exit out of your wallet and launch the modded exe of your choice and it will do the rest.
If you are using a custom location for the data through CLI or via batch file you will need to either account for the naming of the exe or rename it to match your code.

fonzerrellie

legendary

Activity: 1190

Merit: 1000

Kaspa

lol holy, my wallet.dat is close to 3000 kb's !! but I guess it's understandable with how many addresses and small deposits I have

at least it doesn't seem to be using any extra cpu memory

CartmanSPC

legendary

Activity: 1270

Merit: 1000

Quote from: jheaton on March 30, 2016, 12:59:56 PM

who wants to stake all the time anyway. His loss. Good for the network, bad for him, who cares.

Yup, I was for a while and then I noticed my wallet file start to balloon up in size so now I only stake every couple of weeks.

jheaton

full member

Activity: 241

Merit: 101

Quote from: GJayJayG on March 26, 2016, 09:40:03 PM

Quote from: CartmanSPC on March 26, 2016, 09:12:35 PM

Quote from: GJayJayG on March 26, 2016, 03:39:24 PM

Quote from: GJayJayG on March 26, 2016, 03:24:42 PM

Quote from: CartmanSPC on March 26, 2016, 04:37:32 AM

This looks odd:

https://chainz.cryptoid.info/pot/address.dws?PEPhKn9y3XJZcFTTWMHQvZFVLQ7fB2wX4X.htm

Have to wonder how he is staking all his coins so quickly when the rest of us have to wait 8ish hours.

Maybe he is using YOUR special wallet from that post, you should know about it it is yours after all:

Quote from: CartmanSPC on September 17, 2015, 02:45:49 AM

Here is a version of the Potcoin Windows wallet that reduces the max split from 2 million to 5 thousand:

potcoin-08.7.2-win32-5Kv2.zip

This version will cause you to stake more often if you have over 5K POT. It stakes more often because it divides up each stake into a max of 5 thousand coins instead of 2 million. This will not increase your staking reward. It should average to be about the same as the official wallet.

This version also implements a fix for allowing outputs to merge even if they're from the same transaction as the staked output. It does not include support for uPNP. I may compile in support for uPNP at a future date if time permits.

Source: https://github.com/CartmanSPC/Potcoin
Disclaimer: USE AT YOUR OWN RISK. DO NOT HOLD ME RESPONSIBLE FOR ANY LOST COIN.

But it you feel like this wallet is hurting the network, and that it should be take offline, you can always voice your concern and get what you ask for ... Like Potcoin have so many wallet staking with so many node that it can dismiss some ...

let's do some math:
He is staking around 3,6 Millions coins of the actual 30 Millions staking now, so:
- so around 12%
- With 3.6 Millions coins split in 5k block that is 720 blocks
- 8 hours for staking is 480 minutes, with 1.5 block per minute so 720 blocks.

So that he managed to stake continuously (smaller stake) to keep the network going seems so bad to you Huh

And so strange with those Maths ??

GJayJayG, it does not appear that he is using the 5K staking wallet. I thought it would be clear what the concern is about but my mistake. That wallet appears to be staking its entire amount (~3,196,462) every time quite quickly (about once a minute). Once staked the amount staked should not be able to stake again for around 8 hours. His wallet is obviously not doing that....well I guess not so obvious but I hope it is clear now what I was trying to point out.

It appears to me that he may have modified the wallet to do away with the 8 hour restriction between staking. ~~Can someone (hopefully rdyoung) confirm my suspicion?~~

Edit: Wait...never mind! I was looking at the block explorer incorrectly! My mistake Cheesy

He is NOT staking all ~3mil as I thought...whoops. Again sorry for the false alarm!!! I'm so embarrassed. LOL See, I AM human! Kiss

So what is your final analysis about it, please.
The wallet entire amount: ~ 3,684,418.73576739 POT
with 1 main containing the: ~3,196,462 POT, the one your pointing out.
It like to know your final word about it before I say/comments anythings else.

who wants to stake all the time anyway. His loss. Good for the network, bad for him, who cares.

Finger

full member

Activity: 259

Merit: 100

GJayJayG

newbie

Activity: 27

Merit: 0

Quote from: CartmanSPC on March 26, 2016, 09:12:35 PM

Quote from: GJayJayG on March 26, 2016, 03:39:24 PM

Quote from: GJayJayG on March 26, 2016, 03:24:42 PM

Quote from: CartmanSPC on March 26, 2016, 04:37:32 AM

This looks odd:

https://chainz.cryptoid.info/pot/address.dws?PEPhKn9y3XJZcFTTWMHQvZFVLQ7fB2wX4X.htm

Have to wonder how he is staking all his coins so quickly when the rest of us have to wait 8ish hours.

Maybe he is using YOUR special wallet from that post, you should know about it it is yours after all:

Quote from: CartmanSPC on September 17, 2015, 02:45:49 AM

Here is a version of the Potcoin Windows wallet that reduces the max split from 2 million to 5 thousand:

potcoin-08.7.2-win32-5Kv2.zip

This version will cause you to stake more often if you have over 5K POT. It stakes more often because it divides up each stake into a max of 5 thousand coins instead of 2 million. This will not increase your staking reward. It should average to be about the same as the official wallet.

This version also implements a fix for allowing outputs to merge even if they're from the same transaction as the staked output. It does not include support for uPNP. I may compile in support for uPNP at a future date if time permits.

Source: https://github.com/CartmanSPC/Potcoin
Disclaimer: USE AT YOUR OWN RISK. DO NOT HOLD ME RESPONSIBLE FOR ANY LOST COIN.

But it you feel like this wallet is hurting the network, and that it should be take offline, you can always voice your concern and get what you ask for ... Like Potcoin have so many wallet staking with so many node that it can dismiss some ...

let's do some math:
He is staking around 3,6 Millions coins of the actual 30 Millions staking now, so:
- so around 12%
- With 3.6 Millions coins split in 5k block that is 720 blocks
- 8 hours for staking is 480 minutes, with 1.5 block per minute so 720 blocks.

So that he managed to stake continuously (smaller stake) to keep the network going seems so bad to you Huh

And so strange with those Maths ??

GJayJayG, it does not appear that he is using the 5K staking wallet. I thought it would be clear what the concern is about but my mistake. That wallet appears to be staking its entire amount (~3,196,462) every time quite quickly (about once a minute). Once staked the amount staked should not be able to stake again for around 8 hours. His wallet is obviously not doing that....well I guess not so obvious but I hope it is clear now what I was trying to point out.

It appears to me that he may have modified the wallet to do away with the 8 hour restriction between staking. ~~Can someone (hopefully rdyoung) confirm my suspicion?~~

Edit: Wait...never mind! I was looking at the block explorer incorrectly! My mistake Cheesy

He is NOT staking all ~3mil as I thought...whoops. Again sorry for the false alarm!!! I'm so embarrassed. LOL See, I AM human! Kiss

So what is your final analysis about it, please.
The wallet entire amount: ~ 3,684,418.73576739 POT
with 1 main containing the: ~3,196,462 POT, the one your pointing out.
It like to know your final word about it before I say/comments anythings else.

CartmanSPC

legendary

Activity: 1270

Merit: 1000

Quote from: GJayJayG on March 26, 2016, 03:39:24 PM

Quote from: GJayJayG on March 26, 2016, 03:24:42 PM

Quote from: CartmanSPC on March 26, 2016, 04:37:32 AM

This looks odd:

https://chainz.cryptoid.info/pot/address.dws?PEPhKn9y3XJZcFTTWMHQvZFVLQ7fB2wX4X.htm

Have to wonder how he is staking all his coins so quickly when the rest of us have to wait 8ish hours.

Maybe he is using YOUR special wallet from that post, you should know about it it is yours after all:

Quote from: CartmanSPC on September 17, 2015, 02:45:49 AM

Here is a version of the Potcoin Windows wallet that reduces the max split from 2 million to 5 thousand:

potcoin-08.7.2-win32-5Kv2.zip

This version will cause you to stake more often if you have over 5K POT. It stakes more often because it divides up each stake into a max of 5 thousand coins instead of 2 million. This will not increase your staking reward. It should average to be about the same as the official wallet.

This version also implements a fix for allowing outputs to merge even if they're from the same transaction as the staked output. It does not include support for uPNP. I may compile in support for uPNP at a future date if time permits.

Source: https://github.com/CartmanSPC/Potcoin
Disclaimer: USE AT YOUR OWN RISK. DO NOT HOLD ME RESPONSIBLE FOR ANY LOST COIN.

But it you feel like this wallet is hurting the network, and that it should be take offline, you can always voice your concern and get what you ask for ... Like Potcoin have so many wallet staking with so many node that it can dismiss some ...

let's do some math:
He is staking around 3,6 Millions coins of the actual 30 Millions staking now, so:
- so around 12%
- With 3.6 Millions coins split in 5k block that is 720 blocks
- 8 hours for staking is 480 minutes, with 1.5 block per minute so 720 blocks.

So that he managed to stake continuously (smaller stake) to keep the network going seems so bad to you Huh

And so strange with those Maths ??

GJayJayG, it does not appear that he is using the 5K staking wallet. I thought it would be clear what the concern is about but my mistake. That wallet appears to be staking its entire amount (~3,196,462) every time quite quickly (about once a minute). Once staked the amount staked should not be able to stake again for around 8 hours. His wallet is obviously not doing that....well I guess not so obvious but I hope it is clear now what I was trying to point out.

It appears to me that he may have modified the wallet to do away with the 8 hour restriction between staking. ~~Can someone (hopefully rdyoung) confirm my suspicion?~~

Edit: Wait...never mind! I was looking at the block explorer incorrectly! My mistake Cheesy

He is NOT staking all ~3mil as I thought...whoops. Again sorry for the false alarm!!! I'm so embarrassed. LOL See, I AM human! Kiss

fonzerrellie

legendary

Activity: 1190

Merit: 1000

Kaspa

I was just looking at my recent finds and I have a couple sets with the same time stamp on them and a bunch that are back to back... I have no where near millions of POT yet. but I did start with a whole bunch of 400 coin deposits

GJayJayG

newbie

Activity: 27

Merit: 0

Quote from: GJayJayG on March 26, 2016, 03:24:42 PM

Quote from: CartmanSPC on March 26, 2016, 04:37:32 AM

This looks odd:

https://chainz.cryptoid.info/pot/address.dws?PEPhKn9y3XJZcFTTWMHQvZFVLQ7fB2wX4X.htm

Have to wonder how he is staking all his coins so quickly when the rest of us have to wait 8ish hours.

Maybe he is using YOUR special wallet from that post, you should know about it it is yours after all:

Quote from: CartmanSPC on September 17, 2015, 02:45:49 AM

Here is a version of the Potcoin Windows wallet that reduces the max split from 2 million to 5 thousand:

potcoin-08.7.2-win32-5Kv2.zip

This version will cause you to stake more often if you have over 5K POT. It stakes more often because it divides up each stake into a max of 5 thousand coins instead of 2 million. This will not increase your staking reward. It should average to be about the same as the official wallet.

This version also implements a fix for allowing outputs to merge even if they're from the same transaction as the staked output. It does not include support for uPNP. I may compile in support for uPNP at a future date if time permits.

Source: https://github.com/CartmanSPC/Potcoin
Disclaimer: USE AT YOUR OWN RISK. DO NOT HOLD ME RESPONSIBLE FOR ANY LOST COIN.

But it you feel like this wallet is hurting the network, and that it should be take offline, you can always voice your concern and get what you ask for ... Like Potcoin have so many wallet staking with so many node that it can dismiss some ...

let's do some math:
He is staking around 3,6 Millions coins of the actual 30 Millions staking now, so:
- so around 12%
- With 3.6 Millions coins split in 5k block that is 720 blocks
- 8 hours for staking is 480 minutes, with 1.5 block per minute so 720 blocks.

So that he managed to stake continuously (smaller stake) to keep the network going seems so bad to you Huh

And so strange with those Maths ??

GJayJayG

newbie

Activity: 27

Merit: 0

Quote from: CartmanSPC on March 26, 2016, 04:37:32 AM

This looks odd:

https://chainz.cryptoid.info/pot/address.dws?PEPhKn9y3XJZcFTTWMHQvZFVLQ7fB2wX4X.htm

Have to wonder how he is staking all his coins so quickly when the rest of us have to wait 8ish hours.

Maybe he is using YOUR special wallet from that post, you should know about it it is yours after all:

Quote from: CartmanSPC on September 17, 2015, 02:45:49 AM

Here is a version of the Potcoin Windows wallet that reduces the max split from 2 million to 5 thousand:

potcoin-08.7.2-win32-5Kv2.zip

This version will cause you to stake more often if you have over 5K POT. It stakes more often because it divides up each stake into a max of 5 thousand coins instead of 2 million. This will not increase your staking reward. It should average to be about the same as the official wallet.

This version also implements a fix for allowing outputs to merge even if they're from the same transaction as the staked output. It does not include support for uPNP. I may compile in support for uPNP at a future date if time permits.

Source: https://github.com/CartmanSPC/Potcoin
Disclaimer: USE AT YOUR OWN RISK. DO NOT HOLD ME RESPONSIBLE FOR ANY LOST COIN.

But it you feel like this wallet is hurting the network, and that it should be take offline, you can always voice your concern and get what you ask for ... Like Potcoin have so many wallet staking with so many node that it can dismiss some ...

CartmanSPC

legendary

Activity: 1270

Merit: 1000

This looks odd:

https://chainz.cryptoid.info/pot/address.dws?PEPhKn9y3XJZcFTTWMHQvZFVLQ7fB2wX4X.htm

Have to wonder how he is staking all his coins so quickly when the rest of us have to wait 8ish hours.

Edit: Redacted

rdyoung

legendary

Activity: 994

Merit: 1000

Quote from: fonzerrellie on March 21, 2016, 05:52:26 PM

Quote from: rdyoung on March 21, 2016, 04:36:31 PM

Quote from: fonzerrellie on March 21, 2016, 03:55:42 PM

Quote from: rdyoung on March 21, 2016, 03:40:41 PM

Quote from: fonzerrellie on March 21, 2016, 03:20:59 PM

lol Pot isn't even close to being legal state or Canada wide, so POT is literally doing fine on the side lines at the moment. I couldn't give a heck what a few cynical people think... if you're just looking to get out then get out, but don't claim to know what everyone else is doing. it will most likely be years before pot is fully legal in Canada & US and it will be years till BTC is fully mainstream and accepted at all pot shops etc... the race is far from done

Where are you getting that crypto isn't fully legal?
The IRS and fincen both agree that btc and by extension all blockchain based coins are a commodity. It is perfectly legal to do business via an exchange of any good for good, IE I can buy a car from you for wheat or a laptop, whatever we agree upon. I have done a LOT of research and reading on this and I am 99% sure I know the way that crypto will go in the eyes of regulators at the federal level, here in the states at least, I can't speak to other countries.

States are slowly deciding how to regulate and account for crypto based transactions and business and those that go the extreme route and make all persons a defacto MSB will lose out big time over the long term. Deciding how to regulate something does not make it illegal until said regulation is in place.

We do indeed have a very long road ahead of us before crypto is seen as mainstream, but the way I see it happening is not that people will be using BTC/POT/LTC/etc, they will be using a "normal" debit card or swipe2pay without realizing that crypto is whats running behind the scenes. Reddcoin is working on what they call redd-id that will basically be usernames on the blockchain that are tied to addresses, this will make rdd exponentially easier to use by the mainstream. It would be nice if pot/dope/etc would help in whatever way they can to make this happen so that they can be the first to implement this on their blockchain.

If I was in a weed friendly state I would most definitely be pushing potcoin/dope/etc to legal weed establishments to get the ball rolling. We need 1 of 2 things to happen first, either customers start asking for stores to accept it or businesses take the first step. After that its all about getting the rest of the supply chain to use it and possibly pay their workers in it thus beginning the cycle that keeps coins out of exchanges and in circulation just like any other currency.

Again, please point me to any state or federally published documents that state that crypto is in anyway "illegal". Any links to "coin news" sites will be summarily ignored.

I just meant Cannabis/weed isn't fully legal yet... wasn't referring to crypto legality. and yes even tho weed isn't legal in my province I still ask at pipe shops etc if I can pay in BTC/POT to start/keep the conversation going.

That makes more sense. I have however seen this argument before from others that despite btc being a commodity and in no way illegal potcoin is somehow something that needs a separate stamp of approval.

from what I can tell in Canada Crypto is going to be left alone by the gov for a few more years Cheesy

although if you cash any out for CA dollars you're supposed to declare it on your taxes (if it's a significant amount)

Once weed is legal in my province I'm going to do my best to get a job in the industry, lol I have lots of experience to put to good use and who knows if I'll start a small business if I can find a good niche.

I've taken another 20k POT off the market in the last few weeks and will continue to put a little trading profit towards it as I see fit... just like I do with MINT when it's below 10 sats, it's not much but it deff adds up over time.

I am employing the same strategy with POT/DOPE/RDD/etc, taking a small % of profits from trading and sinking it into cold storage and compounding the rest.

Crypto won't be "left alone" in the states but as I posted previously the states that go with everyone is a defacto MSB because they mine or trade crypto will lose out big time as the crypto revolution pushes on. From a federal level, IE the IRS, FINCEN, FTCA, etc, crypto is a commodity and is not subject to "old world" rules and regs of those that are true MSBs such as stores that do wire transfers or exchanges that take in fiat from its clientele for trading. Not sure if/when it will happen or what it would take but crypto might be the catalyst to set a federal standard for MSBs. Its insane what it costs to do business in the states if you want to cover every state and offer services to every single possible customer.

rdyoung

legendary

Activity: 994

Merit: 1000

Quote from: Finger on March 21, 2016, 06:48:22 PM

Sell POT(i buy) & go for it -> buy ETH etc. such commodity (six feet under land on Mars), much value (in a year 2600).

ETH is riding on the wave of rumor as to what it can do and accomplish. The ETH bubble will burst eventually and the price will come back down to reality. I would suggest caution when buying into anything that is in the middle of a rally such as this, you never know when the correction will happen and how much value you will lose when it does.

CartmanSPC

legendary

Activity: 1270

Merit: 1000

Quote from: barabbas on March 21, 2016, 06:23:39 PM

Quote from: CartmanSPC on March 21, 2016, 06:00:46 PM

Quote from: barabbas on March 21, 2016, 05:44:38 PM

although one of the users, Microsoft, just started ceasing to accept it as payment), like all shorts of other electronic payment options.

Not true! It was a mistake that the news agency's picked up on. They continue to accept BTC as always.

Quote

“We continue to support Bitcoin for adding money to your Microsoft Account which can be used for purchasing content in the Windows and Xbox stores,” a Microsoft spokesperson told VentureBeat. “We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected.”

If this is true, I stand corrected. I was aware of what was reported on the news recently -about a week ago-, not of the apparent correction...

That's the problem with most news agency's these days. They quickly report headline grabbing articles without confirming to beat the next news guy to the punch. Almost none of them bothered to reach out to MS for confirmation.

Finger

full member

Activity: 259

Merit: 100

Sell POT(i buy) & go for it -> buy ETH etc. such commodity (six feet under land on Mars), much value (in a year 2600).

barabbas

legendary

Activity: 1162

Merit: 1000

Quote from: CartmanSPC on March 21, 2016, 06:00:46 PM

Quote from: barabbas on March 21, 2016, 05:44:38 PM

although one of the users, Microsoft, just started ceasing to accept it as payment), like all shorts of other electronic payment options.

Not true! It was a mistake that the news agency's picked up on. They continue to accept BTC as always.

Quote

“We continue to support Bitcoin for adding money to your Microsoft Account which can be used for purchasing content in the Windows and Xbox stores,” a Microsoft spokesperson told VentureBeat. “We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected.”

If this is true, I stand corrected. I was aware of what was reported on the news recently -about a week ago-, not of the apparent correction...

CartmanSPC

legendary

Activity: 1270

Merit: 1000

Quote from: barabbas on March 21, 2016, 05:44:38 PM

although one of the users, Microsoft, just started ceasing to accept it as payment), like all shorts of other electronic payment options.

Not true! It was a mistake that the news agency's picked up on. They continue to accept BTC as always.

Quote

“We continue to support Bitcoin for adding money to your Microsoft Account which can be used for purchasing content in the Windows and Xbox stores,” a Microsoft spokesperson told VentureBeat. “We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected.”

fonzerrellie

legendary

Activity: 1190

Merit: 1000

Kaspa

Quote from: barabbas on March 21, 2016, 05:44:38 PM

Quote from: fonzerrellie on March 21, 2016, 03:20:59 PM

lol Pot isn't even close to being legal state or Canada wide, so POT is literally doing fine on the side lines at the moment. I couldn't give a heck what a few cynical people think... if you're just looking to get out then get out, but don't claim to know what everyone else is doing. it will most likely be years before pot is fully legal in Canada & US and it will be years till BTC is fully mainstream and accepted at all pot shops etc... the race is far from done

If you back up about 50-100 pages on this thread, you can see that a shop advertised here (the owner was a convert to POT) and offered not only to accept POT as payment but accept it at a discount relative to BTC and, of course, dollar. And yet, it did not work. That was before the latest version of the wallet was successfully implemented. So yes the commerce is not only possible, it's a natural thing... except that NO ONE will buy POT in any significant amount for fear it won't be here a few weeks/months/years from now. And without that real-life use, this is just another copy/paste clone that brings nothing to the crypto table so, like I said, it is by any account already dismissed like so many other clones before.

Quick note for you: BTC is NEVER going to be mainstream. Ever. That doesn't mean it won't be used (it actually is being used -and abused- as we speak, and has for years... although one of the users, Microsoft, just started ceasing to accept it as payment), like all shorts of other electronic payment options.

Oh, I claim to know what I know, not what everyone is doing. That is clear, quite clear and reachable by anyone that can look up the blockchain and the exchanges volume on sells and buys. No mystery there. As for the race being far from done, you are the one that claims to "know" what everyone else is doing: I'll tell you what they are NOT doing (except for this johnny-come-late "accumulator": They are NOT buying this shit.

opinions and assholes... we all have them

and by the way didn't microsoft say it was a mistake and you can still use btc with them?

fonzerrellie

legendary

Activity: 1190

Merit: 1000

Kaspa

Quote from: rdyoung on March 21, 2016, 04:36:31 PM

Quote from: fonzerrellie on March 21, 2016, 03:55:42 PM

Quote from: rdyoung on March 21, 2016, 03:40:41 PM

Quote from: fonzerrellie on March 21, 2016, 03:20:59 PM

lol Pot isn't even close to being legal state or Canada wide, so POT is literally doing fine on the side lines at the moment. I couldn't give a heck what a few cynical people think... if you're just looking to get out then get out, but don't claim to know what everyone else is doing. it will most likely be years before pot is fully legal in Canada & US and it will be years till BTC is fully mainstream and accepted at all pot shops etc... the race is far from done

Where are you getting that crypto isn't fully legal?
The IRS and fincen both agree that btc and by extension all blockchain based coins are a commodity. It is perfectly legal to do business via an exchange of any good for good, IE I can buy a car from you for wheat or a laptop, whatever we agree upon. I have done a LOT of research and reading on this and I am 99% sure I know the way that crypto will go in the eyes of regulators at the federal level, here in the states at least, I can't speak to other countries.

States are slowly deciding how to regulate and account for crypto based transactions and business and those that go the extreme route and make all persons a defacto MSB will lose out big time over the long term. Deciding how to regulate something does not make it illegal until said regulation is in place.

We do indeed have a very long road ahead of us before crypto is seen as mainstream, but the way I see it happening is not that people will be using BTC/POT/LTC/etc, they will be using a "normal" debit card or swipe2pay without realizing that crypto is whats running behind the scenes. Reddcoin is working on what they call redd-id that will basically be usernames on the blockchain that are tied to addresses, this will make rdd exponentially easier to use by the mainstream. It would be nice if pot/dope/etc would help in whatever way they can to make this happen so that they can be the first to implement this on their blockchain.

If I was in a weed friendly state I would most definitely be pushing potcoin/dope/etc to legal weed establishments to get the ball rolling. We need 1 of 2 things to happen first, either customers start asking for stores to accept it or businesses take the first step. After that its all about getting the rest of the supply chain to use it and possibly pay their workers in it thus beginning the cycle that keeps coins out of exchanges and in circulation just like any other currency.

Again, please point me to any state or federally published documents that state that crypto is in anyway "illegal". Any links to "coin news" sites will be summarily ignored.

I just meant Cannabis/weed isn't fully legal yet... wasn't referring to crypto legality. and yes even tho weed isn't legal in my province I still ask at pipe shops etc if I can pay in BTC/POT to start/keep the conversation going.

That makes more sense. I have however seen this argument before from others that despite btc being a commodity and in no way illegal potcoin is somehow something that needs a separate stamp of approval.

from what I can tell in Canada Crypto is going to be left alone by the gov for a few more years Cheesy

although if you cash any out for CA dollars you're supposed to declare it on your taxes (if it's a significant amount)

Once weed is legal in my province I'm going to do my best to get a job in the industry, lol I have lots of experience to put to good use and who knows if I'll start a small business if I can find a good niche.

I've taken another 20k POT off the market in the last few weeks and will continue to put a little trading profit towards it as I see fit... just like I do with MINT when it's below 10 sats, it's not much but it deff adds up over time.

barabbas

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Quote from: fonzerrellie on March 21, 2016, 03:20:59 PM

lol Pot isn't even close to being legal state or Canada wide, so POT is literally doing fine on the side lines at the moment. I couldn't give a heck what a few cynical people think... if you're just looking to get out then get out, but don't claim to know what everyone else is doing. it will most likely be years before pot is fully legal in Canada & US and it will be years till BTC is fully mainstream and accepted at all pot shops etc... the race is far from done

If you back up about 50-100 pages on this thread, you can see that a shop advertised here (the owner was a convert to POT) and offered not only to accept POT as payment but accept it at a discount relative to BTC and, of course, dollar. And yet, it did not work. That was before the latest version of the wallet was successfully implemented. So yes the commerce is not only possible, it's a natural thing... except that NO ONE will buy POT in any significant amount for fear it won't be here a few weeks/months/years from now. And without that real-life use, this is just another copy/paste clone that brings nothing to the crypto table so, like I said, it is by any account already dismissed like so many other clones before.

Quick note for you: BTC is NEVER going to be mainstream. Ever. That doesn't mean it won't be used (it actually is being used -and abused- as we speak, and has for years... although one of the users, Microsoft, just started ceasing to accept it as payment), like all shorts of other electronic payment options.

Oh, I claim to know what I know, not what everyone is doing. That is clear, quite clear and reachable by anyone that can look up the blockchain and the exchanges volume on sells and buys. No mystery there. As for the race being far from done, you are the one that claims to "know" what everyone else is doing: I'll tell you what they are NOT doing (except for this johnny-come-late "accumulator": They are NOT buying this shit.

Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 103. (Read 920105 times)