Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 119. (Read 920138 times)

Hey Pinchecobadre I couldn't agree more with what you just said. It does absolutely no good tearing down other 'weed coins' . We are all in this to win it.


It isn't a bad idea to think about.  We'll think about doing this. Good feedback.

Yeah, the stake amount is based on the coin age and the coin age grows exponentially for at least the first 4-5 days from what redrhino has tested.
The difficulty is climbing so blocks of coins will stake less often but when they do stake the earnings will be much greater than they have been.

Wow! Looks like POT is finally staking! Usually it stakes .01 or so. Today I got 3.10!

I and my business partner @lothendriel are unofficially launching our POS dedicated site, http://letsgetstaking.com
I have methodically created bootstraps and quickstart packs for a TON of POS coins, if anyone would like to see other coins added, please let me know. Because this is a soft launch, I ask that people please grab the bootstraps for one of the coins and see if it works, I tested a few of them without issue, but the more feedback I can get the better.

You can start by not quoting that spammed post which all the moderators of the weed-coin threads are trying to keep out of their threads....would you mind editing?


The post you're quoting keeps popping up under different usernames.  Once one is banned, another pops up and the same crap is spammed in all weed-coin threads.


The vast majority of that post is unsubstantiated nonsense, circumstantial at best, and is nothing more than a overly verbose narrative intended to persuade those not familiar with the juvenile, petty and shameful fighting between two competing crypto coins into believing what this person wants you to believe.


As far as what you should do, if you have holdings in each of the weed coins, hold them.....they have ALL been pumped & dumped multiple times over and are probably at their lowest point from a value perspective.... I mean c'mon, POT is currently cheaper than Guerillacoin (GUE), a coin that's been undeniably abandoned for over a year....how is that even possible?  Anyway, I don't see things getting all that much worse, so why liquidate?


Once 1 weed-coin rises above this shameful petty bickering and starts making strides towards adoption and real-world application (as so many have promised over and over again), we should start seeing improved market activity for all the weed coins.


Unfortunately, at the moment, we have to deal with this spamming idiot.  If I was a DEV of a weed coin, I wouldn't just lock my thread, I'd completely remove threads related to my project(s) from this cancerous cesspool that is the BTCtalk forum and go elsewhere.

Isn't there a way to stop this guy? It seems that every MJ forum is plagued. This guy has more new names than Carter has pills! (yea, I'm old). -M

All should know now it is Josh Dellay dev of CCN that is posting these stupid CANN fud because he have nothing now and mad d9 won't give him penis.

They spam own thread to try distract from suspicion after I call subcreative (ccn josh dellay) out for trolling

He spam potcoin Reddit too

Yep! Been mining and buying since the first week. In it to win it. If it don't happen big f'n deal.

Yes this is probably right. But the problem here is that we are now competing against BTC, LTC, Eth, etc. Not necessarily the end of the world but it could hurt. I think the key is to market the coin to a specific industry while providing a payment platform that could be used with anything.

But IMO the absolute biggest challenge to this system is the brick and mortar stores. An online shop is incredibly easy to deal with. A browser plugin is all it would require on the merchant's side, they just have to integrate it with their website. From the payment processor's perspective they would need all the appropriate licenses but essentially you are acting as a personal exchange for your merchants, exchanging the paying customers coins into USD for the merchant. As the payment processor you are taking on the market risk for your merchants. Online this is done in real time by code, and the merchant never has to see the coins. What happens in real life? Is the merchant provided a special piece of software by the processor that handles the transaction in real time? IMO that's the only feasible way this could work. Asking a merchant to hold the coins until they can be exchanged or anything else that doesn't give them full reimbursement in USD immediately probably won't be acceptable to them. And if that's the case, creating a software product to handle those transactions in real time is a major development. That sort of payment platform would probably be more in depth coding than it took to create Potcoin in the first place. And this I think is our roadblock.

I have been buying on the way down as this has been a sold project and still is. I will hold and make it or go down with it, "when there is blood on the streets"

100% agree. Ultimately, this is where POT needs to step outside of it's niche and find a way to market itself to a broader market that is either directly or indirectly related to M/R MJ as a whole.  A lot of points on this could be taken from country coins that more effectively try to emulate the full-circle economy.  A dispensary owner is going to get burnt out on POT(no pun intended) if all they can use it for is buying stuff at dispensaries.  That kind of makes it pointless.  Yes, it may allow them to make more sales, but for them to truly adopt a pro-crypto stance, and more-so a pro-POT stance, is to allow them to purchase things other than what they themselves sell.

I would even say that getting taverns or corner stores to accept it is ideal.  Let them buy a beer at the end of the day with POT.  Let them go to the quikmart down the street and pick up a bag of funions .  Until that happens, they will want to drop the bag as soon as possible, and we still don't have true fundamental adoption.

-Fuse

This ^

Nobody in their right minds is going to start accepting POT right off the bat unless they already know about and support cryptocurrencies. Bitcoin has been going through the same thing. The solution so far has been for services like Bitpay to allow a customer to pay the payment processor in cryptocurrency, and the merchant to be paid in USD or whatever else they want. This is how you get merchants to accept POT, by doing it indirectly. Eventually the hope is that the community continues to grow, and along with it the value of the coin. At a certain point it becomes worth it for those merchants to hold some of those payments in crypto, not fiat. And then to eventually spend some of it.

Trying to convince a shop owner to accept a digital currency they likely have never heard of is going to sound a lot like a scam. But if you come to them with a service that guarantees they still get paid the same amount in USD they would otherwise make, they're going to be more likely to try it.  The question is, can this work with Potcoin and the MJ industry the way it has with Bitcoin.

I think the person claiming this was a problem was actually stating his/her opinion that a move to POSv did, at first, benefit those with the largest holdings until such time as others began staking...I don't believe (correct me if I'm wrong) that you disagreed with that initial assessment.

I agree that current supply being held by a smaller # of addresses is not a problem where we are now, or in the future for all the reasons you stated....I.e. If they wake up and sell, it means POT is doing well and being distributed to more people so everyone wins!


Quite the contrary actually...all the finer points you make justify the conclusion that the tech was changed and the change in also helps address and cap inflation to 5-6%.  Perhaps I'm missing something, but I thought we were also in agreement on the tech.


You're smart enough to know that everyone in this space thinks very highly of themselves and will likely react negatively to inciteful comments like these.....purely unnecessary, but who am I to talk....I'm guilty of this too, but working on being a better person, so I don't come across so negatively all the time.....believe me, it's hard....I know.



I don't see the need to turn everything into a you vs. Fuse......you vs. The rest of us "cavemen" each time someone shares a difference of opinion....it's not healthy.

Fuse hasn't changed his tune since, what, page 14. I won't speak for Fuse, but to me and hopefully others, the challenge is and will be for a long time, to get Potcoin into the hands of the average schmoe; otherwise, we'll constantly be talking to ourselves in this God foresaken cesspool that is the BTCTalk forums.

My thoughts on what Potcoin needs to focus on right now is mass adoption by all the cavemen out there who don't give a shit or have the time to care about all the finer details you so readily conclude I've failed to grasp.

Just my $0.02.

The typical merchant isn't going to use a regular wallet.  They're going to use an Android/Ipad point of sale system, like you clearly state(again we're arguing the same point), or even a 3rd party service like LitePaid that automatically converts the coins to fiat or BTC.  So going along with what you're saying, they most likely won't be staking, making confirmations and interest and all the other finite details pointless to their day to day operations.  The fact of the matter is that they won't even treat the wallet as a wallet.  For adoption to succeed with a lot of merchants, they need to never see the wallet at all.  At least not until they can use the coins for everyday goods and services, or transfer them seamlessly to another currency to do that.

I'm going to disagree though with your statement about crypto being safer than cash.  We don't need to get into it, but to me, I'd rather have cash in hand to pay my bills than crypto on my computer that can be lost to the wind.  I'm sure at this point you'll argue cold wallets, paper wallets, backups, etc, but how many first time crypto adopting merchants are going to understand all of that?

And when I say mom and pop shops, of course I'm not talking about someone's grandparents, mate.  I'm talking anything that isn't a chain or managed by a parent company.  You need to try to stop being so literal.  I will say this though- you'd be surprised though at how many people in their 20's and 30's don't understand technology.  I do tech support for a school district.  We hire 50-80 new hires every year.  They are typically 20 somethings fresh out of college, and more than half don't understand basic technology.  The stereotype of young people understanding technology is just that.  Throw in the fact that a lot of these people involved with the MMJ/recreational movement are salt of the earth crafts people, farmers, old time hippies, anti-government dissidents, etc... they aren't the type of people that would understand blockchain technology the first time you try to sell them on it.  Stereotyping, I know, but I've seen it from experience with the people I am networked with in the bay area of CA who have shared their thoughts of POT with me.

-Fuse

As I said in a couple of posts now. The inflation from NEW SUPPLY has been handled with the transition to POSv. Look through my post history, I have made this point on more than 1 occasion. What set this debate/discussion/kerfuffle going was someone saying that the current supply being held by a small # of addresses was a problem, I tried to argue that in fact it wasn't. I have made that point on several occassions. The fact that you think the "tech" is there to handle the inflation highlights a lack of the finer points I have tried to make. The inflation is locked into 5-6%/year, it will be that no matter what, so long as difficulty keeps climbing and then stays high enough. We don't have "tech" to adjust inflation based on coins in active circulation, I think if its done right it would be an awesome addition to a coin that was meant to take over for an entire country, but for crypto market where it is, its not needed.

I was trying to have an educated discussion about the effect from the current supply floating around but it seems like I am trying to discuss the finer points of a salvador dali painting with a caveman. I have also made the argument that most things line up for POT coin to start gaining capitalization so long as a few other things are handled, I then proceeded to outline a couple of them which were argued for and against by fuse.

If you folks can get your stories straight and decide what your thoughts/beliefs/arguments actually are, then I can engage, but I have no idea what point your trying to make. He went this way, he went that way, left, right, up, down. Make up your mind.

Clearly someone isn't paying attention. I created a wallet with 400+ addresses and funded them ALL to get the network up to speed. I am the only one who was trying to get the devs to lower the threshold so that the # of competing inputs would rise and with it blocks/day and stake interest.

Your point about merchants still makes no damn sense. If you get someone setup with a wallet to take in payments via any crypto coin and you don't have them encrypt and lock your wallet you should be shot. Your argument is akin to saying that merchants shouldn't have a key on the cash drawer or keep excess funds in a safe until they can deposit it.
In truth all of the merchant BS is moot, what will have to happen for most merchants both mom/pop and bigger stores to accept crypto is the standard Point of Sale terminals will have it built in and this is already being worked on. But my guess is you haven't been in many mom/pop shops lately, the stores being run by folks 20-45 or so are not using standard point of sale from the big companies, they are using offerings from paypal and the like on a tablet or smartphone and as the offerings to accept crypto mature in both functionality and ease of use it will be easier to pitch it to them.  You might also think that the mom/pop weed shops are run by ma and pa kettle, they aren't, they are run by people in their 20s or 30s, they know how to use a computer, cellphone, etc and its easy to convince them to take a crypto thats safer than cash.

The TL:DR version is summed up right there.

Rdyoung, I think you've been a great asset to Potcoin and hope you stick around.  All of your points are indeed valid.

I have to agree with Fuse on this fundamental point quoted above.

At this point all of the weed coins are viable options from a tech perspective....the focus now MUST shift to adoption.  Your website initiative appears directly related to mass appeal / adoption, which is awesome!  Keep it up.  

No one here needs a lesson in ECON101..while inflation is relevant, it's not relevant at the moment.  The tech is there to handle it...the wallet has options for people to stake or not....unfortunately all weed coins now have to deal with the 800 lb gorilla in the room that's been here since day 1.

Now can someone please delete that asshole's CANN post.....FFS....#endtheweedcoinwar!

I quote individual points for clarity, not to nitpick.  I just want you to be clear about what I'm saying so it's easier for people to follow.  Of course, you would have to actually read it to realize that.  The fact that you aren't reading what I am writing is really telling.

I'm not ignoring what you're saying, and I'm not ignorant on the points of how a wallet works.  I'm saying that the typical Joe Schmoe merchant that is already skeptical of crypto is not going to like having to deal with some of the day to day things that crypto-enthusiasts are already familiar with, i.e. encrypting a wallet, setting a reserve in a conf file, or even staking.  The fact that they will need to wait 720 blocks to stake, solidifies my point that it will take a deliberate decision on whether to liquidate the coins, or leave them there to stake.  My opinion is that they will most likely move the coins and forgo the staking, which makes POS solely a tool for investors to make money, and purists to keep the chain moving.  I'm not making anything with my POT interest... it's a drop in the bucket compared to my other holdings.  But I run the wallet 24/7 anyway so I can help with block creation.  Again- the good of the chain vs one's own good.  In that point I know we are on very opposite sides of the fence.

You want to argue about my knowledge of crypto, or market dynamics, or even how I post my comments.  If you actually read what I've wrote, you'd realize that a lot of what I'm saying is in support of a lot of what you're saying.  But I think you're missing the mark on a lot of what makes all this relevant, and that is the average merchant.  Mom and Pop Jones don't care about your stance on inflation, or locking wallets, or your POS profit machine.  They just want to increase sales and liquidate POT.  If you want to talk about what's going to make POT work, stop talking about what you're going to do to support your wallet, and start talking about what it will take to support that merchant.

-Fuse

Of course I didn't read every word of your last post, at least 1 of them quoted something that wasn't even in my last post to you and it was one of the longer posts here, cann man not withstanding, so its clear your just looking to nitpick.
The fact that you had to take the time to parse through my posts and reply to individual points tells me all I need to know RE: you looking to argue instead of discuss.

And yes, its clear that you are ignoring or ignorant of some of the grander points of crypto and POS, considering your arguing over the staking by a merchant when inputs need 720 confirmations before they are even eligible to stake a block and you ignoring that locking a wallet STOPS IT FROM STAKING. Did you know that an address can receive funds even if the wallet is locked? If you didn't then you learned something new today.

I also like the fact that instead of hitting me back on point you go passive aggressive with your response, doesn't take a psych major to read into that.

  I feel like you're not reading what I'm writing.  Especially what I've said about why I'm here.  It's ok.  Some people will only see their own point... even if you agree with them on a lot of what they say.

You make it very clear that you have a better grasp at anything and everything crypto.  I'm sorry for ever providing a counterpoint to your stance.  I'll stick to my candyland and you can play your chess.  I'll have a better time anyway... it's a lot less aggressive in the gumdrop forest.

I'll reiterate this though, if you have more to say about me, bring it to PM.

-Fuse