Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 104. (Read 920105 times)

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.

 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.

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.

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

@barabbas, nice to exchange approaches.

I agree with you about selling Pot for Pot but remember that we are on earlier stages.
I think first we needed to get the network working as well as possible and others features rolling on like apps, web wallet and easy exchange.

About the chart, is not about BTC, it is about POT volume. If the price spike it is because less people are selling at this price, and the chart now is not clear due Cryptsy issues. But if you consolidate all the exchanges you can see that the accumulation started months ago. Anyway is not to do an issue about it.
The time will tell us. Thanks for the exchange.

I am going to disagree... on several fronts: Charts, number one, are so incredibly irrelevant given the volumes that are not worth mentioning them. Lets just say that ONE BTC alone would have bought the entire volume of months of trading -the past few months-, so that is just crap. Irrelevant crap at that. Now, what you can see, clearly, -very modest as it is- is the accumulation taking place in the last couple of days with BUYS and up to 40-50 thousand coins per trade at the HIGHEST LEVELS pricewise. And that starkly contrast with the total lack of volume of the past months, even though, I repeat, it remains modest, very modest.

As for it being due to "improvements in the network", that is simply absurd. POT is all but OUT for good, since the purpose for which it was created -buy POT at a discount and make a nice 5% yearly on your savings- is no longer. It was a total failure: No one is selling pot for POT, so there goes the whole project... which is artificially maintained by a few "believers" looking to check out... if at all possible at higher levels than this. That is the reality of the POT project as it stands today, on the edge of disappearing for good.

The rest is just interested (temporarily so: Until they can get out of it) hyperbole.

The wallet needs some work, thats a given, the network however is running a bit smoother thanks to @cartmanspc and the 100 threshold mod he sent me.
I can throw up a DL link for those that want to use it but just like anything else, neither cartmanspc or I are responsible for your house catching on fire or your getting get run over by a truck from the use of this modded wallet. I would suggest that only those with less than 100k use this 100pot threshold wallet, the # of inputs your wallet will create and need to track will be a serious resource hog. Hit me up via pm or find me on telegram @rdyoung

Another look of this movement..

Accumulation is not the volume of a day or a week, the accumulation phase started some months ago as I can see on the chart.

Also with the network running well (it can improve as rdyoung said) and with the apps going well the price (in my opinion) is undervalued.

I think the community is looking that and now are starting to buy slowly and less coins are offered at this price.
There are not two or three…
Check it out Coingecko to see that Potcoin is top 15 on community score.
https://www.coingecko.com/en?sort_by=community_score

Being Potcoin leader on this huge legal niche, if some good news is coming, we will see really nice movements.
This is just the beginning. Now Potcoin needs to continue increase the adopters.

Can I be wrong? For sure  

I'm getting 8 active connections on my wallet, blockchain has been running smooth and is staking well... so why not? a lot of shittier coins do more than 2 btc a day.

There's some accumulation taking place. It seems to be an individual just accumulating discreetly (nothing big, like 2 BTC or so so far). Why? Given that it is just one individual doing it, it is really meaningless but one has to wonder what does he see in the future to buy a significant amount under 250... Baffling.

The price converges to the value.

Downloading it now. This should give the network a nice kick in the pants

I have it up and running. It will likely take at least 40 hours or so to get the inputs split down to around the 100 mark.

Hey, what do you know...I already compiled a version at 100. Must have done that for myself to try out. Will PM you a link to download as I (now) don't feel people should be using these unless they know what they're doing.

No on the 8hours, not enough to gain from dropping that.

Lets go with 100, i will test it with my 100k+ wallet and let it stake 24/7, see what the earned % is after a week or so.

Do you think that 8 hours should be reduced to increase the opportunity to stake?


Yes. What do you want...100 or 500?

There appears to be a 2-4 week windows for maximum stake interest per time/block. I have also noticed that it appears smaller inputs earn larger interest % wise. More testing needs done and hopefully we can get the devs to look into repairing the code.

The 2.xx hours is until that input is available to be spent, the 8'ish hours is before that input is mature enough to stake.
You were close

On another note. Do you still have the environment setup to compile a new exe of the wallet? I want to test with an even smaller threshold, say 100 or 500. I have 2 different wallets running, 1 with over 100k all in one address, its averaging 3%/year and my network push wallet where blocks of 10 and 20 are averaging 5%+.

I just noticed I've gotten a couple big 62 and 21 coin blocks from staking... when the norm is much smaller?

Yup, you're right...~2.89 hours until you can stake again. Forget I said anything...for some reason I thought it was over 8.

The maturity time for coins that stay "staked" before they be can spent is a security issue, if you have it too low it makes it easier for an attack on the network. You see this with every coin BTC included. There is a waiting period from new coins are generated to when they can be spent.
I will have to double check but for potcoin I think its about 2 hours from when you stake to when those coins are available to be spent. We had this discussion months ago from a merchants POV, people were arguing against POS for merchants because they wouldn't be able to spend those funds for a small amount of time. Those people either have issues with common sense or they have never worked with cash at a business, IE, being the one who deals with funds incoming from customers as well as being the one who makes the bank deposits.