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Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 205. (Read 920138 times)

hero member
Activity: 658
Merit: 504
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?

Also, is there a promotion to buy things with POT at the dispensary?  If I have a $20 bill in my hand, and there's no incentive to exchange it for POT at the ATM, won't I just buy what I was going to buy with the $20 bill?  Is there an incentive to exchange?  Like is Rock River giving a 5% discount for using POT?

I'm not knocking the ATM, I just want to know what the marketing angle is to get patients hooked on using it.

-Fuse

Discounts have been discussed but I think they are still feeling it out right now. But you're right there is no reason while you are standing there with cash in hand to use Potcoin. But the next time you come back maybe you walk in with potcoin instead of cash.

Just like bitcoin you can't expect people to all of a sudden stop using cash. Its what people know and what they feel safe with. The ATM at this point probably has a larger effect just spreading the word about potcoin than it does in actually supporting sales at the dispensary.
hero member
Activity: 616
Merit: 500
Speaking of marketing, whatever happened to the marketing packages which should've been ready to go within a few weeks of coin launch but were only recently apparently "thought about" thanks to some clever suggestions?
legendary
Activity: 1582
Merit: 1002
HODL for life.
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?

Also, is there a promotion to buy things with POT at the dispensary?  If I have a $20 bill in my hand, and there's no incentive to exchange it for POT at the ATM, won't I just buy what I was going to buy with the $20 bill?  Is there an incentive to exchange?  Like is Rock River giving a 5% discount for using POT?

I'm not knocking the ATM, I just want to know what the marketing angle is to get patients hooked on using it.

-Fuse
hero member
Activity: 658
Merit: 504
, excluding marijuana,

What?  I thought potcoin was supposed to be the solution for dispensaries banking problems.  

Are you saying potcoin isn't the solution to the banking problem?  

Why is the dispensary not accepting potcoin for weed?

Is it because you might be found guilty of money laundering?





Two more entries into the "marijuana banking" biz:

http://www.marketwatch.com/story/gold-coast-announces-merchant-bank-services-to-the-marijuana-industry-with-the-launch-of-mj-merchant-2014-05-22?reflink=MW_news_stmp

http://www.knpr.org/son/archive/detail2.cfm?SegmentID=11210

It's the choice of the dispensary whether or not to accept cryptocurrency for legalized marijuana, and since both are very new they have decided to spend more time evaluating the option. We are working closely with the industry to ensure complete compliance with the laws now and in the future. Again, please have patience. We are working within two relatively new industries where laws and regulations are adapting and evolving and a cautious approach is necessary both for PotCoin and the companies we serve.

Regards,


Russell Thomas


What portion of their business is non-marijuana?  I can't imagine it's more than 3% of their total sales.  



If you only knew the markup on accessories and paraphernalia. Can't really smoke without those can yah? Wink

Yea but in Colorado there are many many glass shops.  That's not what the dispensary would be selling, mostly t-shirts and soda I imagine.  Point is the non-marijuana portion of the business at any dispensary is negligible... maybe 3% of total sales?  Then what portion are we thinking the potcoin users would be purchasing?  1/1000th of that 3%?  

What is that 0.00003% of sales total maximum potential?

Was that really worth a press release?  That's kind of like putting out a press release because you found a penny on the ground and it was face up.




FUD. Anybody can make up numbers. Your argument might be valid but as long as you're just spit balling numbers with no real facts about anything, you could just as likely be wrong. Nobody will take you seriously otherwise. Especially considering you led off your statement by telling us what a dispensary should or should not sell. Do you own one? I'm not sure you're qualified enough to tell us what they should be selling, or how much they make.

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. People don't always agree with the direction of this coin, but I don't think anybody would dispute there is progress being made.  People forget that crypto currency in general is still a complete mystery to most of the people in the world. We are the 1% of the population who have this new technology figured out. Most people are still struggling to figure out Bitcoin, let alone Potcoin.

hero member
Activity: 616
Merit: 500
Was that really worth a press release?  That's kind of like putting out a press release because you found a penny on the ground and it was face up.

If it was shiny and new.. that's totes news worthy.
hero member
Activity: 924
Merit: 501
, excluding marijuana,

What?  I thought potcoin was supposed to be the solution for dispensaries banking problems.  

Are you saying potcoin isn't the solution to the banking problem?  

Why is the dispensary not accepting potcoin for weed?

Is it because you might be found guilty of money laundering?





Two more entries into the "marijuana banking" biz:

http://www.marketwatch.com/story/gold-coast-announces-merchant-bank-services-to-the-marijuana-industry-with-the-launch-of-mj-merchant-2014-05-22?reflink=MW_news_stmp

http://www.knpr.org/son/archive/detail2.cfm?SegmentID=11210

It's the choice of the dispensary whether or not to accept cryptocurrency for legalized marijuana, and since both are very new they have decided to spend more time evaluating the option. We are working closely with the industry to ensure complete compliance with the laws now and in the future. Again, please have patience. We are working within two relatively new industries where laws and regulations are adapting and evolving and a cautious approach is necessary both for PotCoin and the companies we serve.

Regards,


Russell Thomas


What portion of their business is non-marijuana?  I can't imagine it's more than 3% of their total sales.  



If you only knew the markup on accessories and paraphernalia. Can't really smoke without those can yah? Wink

Yea but in Colorado there are many many glass shops.  That's not what the dispensary would be selling, mostly t-shirts and soda I imagine.  Point is the non-marijuana portion of the business at any dispensary is negligible... maybe 3% of total sales?  Then what portion are we thinking the potcoin users would be purchasing?  1/1000th of that 3%?  

What is that 0.00003% of sales total maximum potential?

Was that really worth a press release?  That's kind of like putting out a press release because you found a penny on the ground and it was face up.


newbie
Activity: 28
Merit: 0
potcoin had a chance a few weeks ago. now....who knows

What happened in a few weeks ago, I want to know if you have what effect can you have?
 Smiley Smiley
newbie
Activity: 28
Merit: 0
Damn what happened to prices? I checked yesterday and things were looking good, but it tanked right back down again today..

Don't worry, this is normal market! Soon after the price will rise! Smiley Smiley
sr. member
Activity: 335
Merit: 251
!!!!POTCOIN NETWORK ALERT !!!
NEW WALLETS AND BINARIES ARE OUT!!  https://github.com/potcoin/

THE FORK WILL OCCUR AT BLOCK 280,000!!!

DIGISHIELD IMPLEMENT http://www.digibyte.co/digishield UPDATED TO LATEST SSL VERSION! AND BLOCK HALVING EVERY 280,000 BLOCK ( roughly every 130 days )

PLEASE TELL EVERY POOL, EXCHANGE and USER THAT THEY NEED TO UPDATE BEFORE BLOCK 280K
sr. member
Activity: 335
Merit: 251
these guys just combine all the people people who they dont have the names for...

i thought it was one big pool.  but then i watched it for 30 min and it kept changing...LOL

hero member
Activity: 616
Merit: 500
There's several pools which are private/unknown. There always are.
sr. member
Activity: 335
Merit: 251
LOOKING FOR THE OWNER OF THE UNKNOWN POOL THAT HAS 66% HASHING POWER

http://chainz.cryptoid.info/pot/#!extraction

going over all the pools and exchanges for the wallet update and double checking everyone is update, im still trying to figure out who is the UNKNOWN POOL IS?

If anyone can help us out that would be great
newbie
Activity: 5
Merit: 0
, excluding marijuana,

What?  I thought potcoin was supposed to be the solution for dispensaries banking problems.  

Are you saying potcoin isn't the solution to the banking problem?  

Why is the dispensary not accepting potcoin for weed?

Is it because you might be found guilty of money laundering?





Two more entries into the "marijuana banking" biz:

http://www.marketwatch.com/story/gold-coast-announces-merchant-bank-services-to-the-marijuana-industry-with-the-launch-of-mj-merchant-2014-05-22?reflink=MW_news_stmp

http://www.knpr.org/son/archive/detail2.cfm?SegmentID=11210

It's the choice of the dispensary whether or not to accept cryptocurrency for legalized marijuana, and since both are very new they have decided to spend more time evaluating the option. We are working closely with the industry to ensure complete compliance with the laws now and in the future. Again, please have patience. We are working within two relatively new industries where laws and regulations are adapting and evolving and a cautious approach is necessary both for PotCoin and the companies we serve.

Regards,


Russell Thomas


What portion of their business is non-marijuana?  I can't imagine it's more than 3% of their total sales. 



If you only knew the markup on accessories and paraphernalia. Can't really smoke without those can yah? Wink
hero member
Activity: 924
Merit: 501
, excluding marijuana,

What?  I thought potcoin was supposed to be the solution for dispensaries banking problems.  

Are you saying potcoin isn't the solution to the banking problem?  

Why is the dispensary not accepting potcoin for weed?

Is it because you might be found guilty of money laundering?





Two more entries into the "marijuana banking" biz:

http://www.marketwatch.com/story/gold-coast-announces-merchant-bank-services-to-the-marijuana-industry-with-the-launch-of-mj-merchant-2014-05-22?reflink=MW_news_stmp

http://www.knpr.org/son/archive/detail2.cfm?SegmentID=11210

It's the choice of the dispensary whether or not to accept cryptocurrency for legalized marijuana, and since both are very new they have decided to spend more time evaluating the option. We are working closely with the industry to ensure complete compliance with the laws now and in the future. Again, please have patience. We are working within two relatively new industries where laws and regulations are adapting and evolving and a cautious approach is necessary both for PotCoin and the companies we serve.

Regards,


Russell Thomas


What portion of their business is non-marijuana?  I can't imagine it's more than 3% of their total sales. 

newbie
Activity: 5
Merit: 0
Crypto Vein
www.cryptovein.com

P2Pool with a twist
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Current POT DOA : 0.45%

We have built a totally new way to mine on p2pools:
  • PPLNS has been replaced by PROP payouts.
  • Killed off P2Pools DOA Shocked
  • Alot of coins to mine
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Im a 24/7 CryptoVein chat lurker and it's been my primary pool since POT's launch. I've never seen doa and reject rates this low on ANY p2pool. Great interface with live graphs and coin switching. I really dont need to log into my miners at all now, I just manage it all from the site.

We have a great group in chat which in itself is why many people stay. Come join us and lets get even more blocks! (I'm greedy)
full member
Activity: 175
Merit: 100
Crypto Vein
www.cryptovein.com

P2Pool with a twist
Guaranteed lowest DOA P2Pool
Current POT DOA : 0.45%

We have built a totally new way to mine on p2pools:
  • PPLNS has been replaced by PROP payouts.
  • Killed off P2Pools DOA Shocked
  • Alot of coins to mine
  • Profit Switcher (cash out to BTC)
  • Manual Switcher (No more re-connecting and setting user names in your miners!)
  • Low payout thresholds
  • Friendly chat community
  • Live Balance updates
  • Lots of live stats and graphs
  • 1% fee on manual mining
  • 2% fee on profit switcher

Join Now !
hero member
Activity: 616
Merit: 500
If price was the only metric people based worth upon, the world would be infinitely smaller  Grin Keep trying with the FUD, maybe one day it will stick?

For the majority of the network hashrate, price is the most important metric. Unless potcoin owns a large farm.
hero member
Activity: 616
Merit: 500
Damn what happened to prices? I checked yesterday and things were looking good, but it tanked right back down again today..

Bold print:

Most coins going through a big change like this experience a mine/pump/sell/pump/dump, and then taper off/die. The pattern, so far, is the same. Perhaps Potcoin will survive. The ATM is one of the good things going for it, but it'll need more and more of them deployed not just 1 or 2.

It's merely settling back down to its floor, which was around 500ish prior. I made some BTC, I'm sure others did as well.
hero member
Activity: 767
Merit: 500
If price was the only metric people based worth upon, the world would be infinitely smaller  Grin Keep trying with the FUD, maybe one day it will stick?
full member
Activity: 182
Merit: 100
Damn what happened to prices? I checked yesterday and things were looking good, but it tanked right back down again today..
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