Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 209. (Read 920138 times)

Im trying to hold the fort at 450 Cant believe im getting potcoin's this cheap :D:D

Russell,

Do you personally know the core developer of the Potcoin protocol?  I'm not talking about smokemon514.

Do you understand the importance of the protocol and why there are problems with the protocol's specifications?

There are technical reasons why Potcoin needs a lot more than just slick marketing and hype to succeed.  In my opinion, Potcoin needs to ditch the "Official Currency of the Cannabis Industry", because that is just false.  You need to change the entire direction of this coin away from hype and towards building trust between the community and the core developers.

Cheers

Potcoin is in the process of doing exactly this, we have create a new blog on our website http://potcoin.info/index.php/blog. We are centralizing all public communication and information so that we can give a clear picture to the community of the what Potcoin is doing. We apologize for any miscommunications and we will be taking measures to put all of this into place so that Potcoin comes across as a professional business.

To be fare, smokemon never claimed to be a public speaker, a public figure, or anything but being the dev.  He was put into this situation by default, so we have taken steps to replace him with a proper PR person.

This is all part of what happens when something grows so quickly and then needs to adapt in real time.

thank you for your feedback and we look forward to a brighter future together.

The Potcoin Team

Thanks Fuse. I am so confident in this coin, this team, and this company that I am transitioning from a profitable 21 year career in Information Security to work with PotCoin. While I cannot yet update my LinkedIn profile due to wrapping up my prior career, I do welcome anyone to get to know me and contact me any time (email please, phone is already crazy). Connect with me, email me, and expect to see much more from me in the future.

Russell Thomas
www.linkedin.com/in/russellthomas
[email protected]

  yes and more yes!

+1, pinchecobadre.  Right on point.

-Fuse

Wow - I have to say, I am impressed with this person's ability to write intelligently.  Something that has been lacking from those posting under the "Potcoin" username on these forums, who I suspect is Smokemon (aka Nick Iversen).  

Potcoin, please please please don't let Smokemon make any more announcements on behalf of this coin.  I cringe every time I read anything he posts -- both here and on reddit.  His usual posts have things like "guys, relax" or "haters will always be hatin'" and other dumbass comments that might appeal to those barely in their teens.  Let's not get into his typos and other grammatical mistakes.....  

I've said it long long ago on reddit and I see that people are starting to say it here too -- Smokemon lacks any level of professionalism.  There appears to be zero thought into anything he does or says, zero thought into how he will be perceived or his messages received, and zero concern for spelling / grammatical mistakes (even on their marketing materials they handed out on 4-20).  

His public speaking skills are sub-par and when he chooses to look like an unprofessional stoner during interviews, it screams "slacker pothead" who can't be trusted.  That interview with CCTV -- did you prepare for that at all?  Did you REALLY need that flat-brimmed hat - are you serious!?  It looked like he didn't care that he was being interviewed by a TV news organization.....anyway, I digress...  

Smokemon constantly reminds us how far they've come and urges the community to be patient, but I have a hard time believing anything he says because he writes and speaks like how he looks in the videos we've seen -- unprepared and unprofessional pothead promising things he can't deliver.  Each time Smokemon posts something, it's like Potcoin is taking two steps back and it's a damn shame.

If the coin is to be run like a business, then take care in the details -- all the small things matter.  The Devs -- particularly Smokemon / Nick Iversen -- would do better to think before posting anything and most definitely proof everything before posting.  Hell, run everything by Russ T, and then "maybe" the official messages/announcements from "Potcoin" will start sounding the way they should.



 

lets build the biggest buy wall on 0.00000420 and stop the drop 

So many nay sayers out there. The coin has sustained 1600 mh/s+ even with the dip in price. The highest i have seen it is 24? At the peak, sure it could have gone higher, but i was normally seeing around 2000 mh/s according to the reddit reporter.

Potcoin has got a fair bit of air time and is certainly more "out there" to the masses then a lot of these other coins i am involved in. Am i disappointed the price has dropped? Of course i am. I really think the bottoming out of the coin could help merchants want to adopt and hold it. If they were to buy in at 4k, right now things wouldn't be looking so hot. However, to buy in now and have the price rise again? That would be extra stimulus into the industry to further innovation. Crypto and the marijuana industry really are going to grow together. I don't feel any of the other pot related coins are working as hard. Cannacoin does have his network for the northwest region, which is fine and well, but as others have said, i believe the two coins can live side by side. I believe Potcoin will be the more popular choice. I'm invested in both, but still feeling potcoin a bit more. There just seems to be a bigger aura of potential around potcoin.

I wanna see the dev succeed as well, nice big fuck you to all those who doubted. I do hate flat brim hats though, i associate them with douchiness, but it does not deafen my ears to the message at the same time. I forget if it was on here or reddit that someone was bitchin about that. I do find it pretty funny. Part of me totally gets it, if you are trying to be professional and shit, act like THE boss. People will very often follow people just because they look like an authority figure.  I also get the whole fuck your culture ima do what i want type thing. But i would reserve the latter for after i am established as the boss. Once the people know that under that fun loving exterior is a ruthless business man, they won't care so much, but ya gotta show the people that it is there, and sadly first impressions DO matter. I believe that due to the negative connotations the marijuana user has suffered over the years, extra steps have to be taken to show that those stereotypes are false.

The devs seem to be trying and that is what keeps me along for the ride. Realistically you want a balance of solid updates with useful news, but want them to be so busy promoting shit that they don't have time to waste by sitting around on forums all day. This is still one of my favorite coins out there. I really don't know why it is getting so much hate. I can't personally think of many other ways to get the coin out there, forcefully coercing merchants to use the coin by aide of weapons? Short of hiring a potcoin mafia to start a collection ring for "protection" money, dunno what else is to be done. I can only assume that the devs all have lives as well, some type of people that love and care or maybe depend on them.

The sheets look nice and clean, although the word sparse also comes to mind. I like the logo, as i have said before. Dunno why either, just appeals to me? I am liking #5. Now is the time for Potcoin llc to start buying coins up, while they are this cheap. Become majority holders of the coin fairly with no premine and you can then have slightly better control of the market and what happens with the coin. I am really hoping this is the plan. It also helps to have a stockpile of coins to payout for the multipool. The more you talk about it like it is going to happen, the more true it becomes. Everyone knows that!


Hopefully coinpayments.net operates in such a manner for merchants. Where they sell the product and can either receive fiat or coin. I really do not know how this works and am rather curious. Okay, wtf, fucking lame. Just read the faq. No wonder no one is accepting potcoin using that service. You then have to turn around and convert it to fiat or another coin your self. They simply handle the transaction for you. Nothing more than a middle man. Which is disappointing to me, as it is a service, but not nearly as valuable as the type you have mentioned. There needs to be a simple and easy way for merchants to get fiat. Which is why i think it is important for the llc to buy the coins, they can then eventually dictate a price and stabilize it. Essentially acting like a bank, because that is what the industry needs, although that window of opportunity is getting smaller each day the banks realize they are missing out on such profits and the feds and states work to iron out laws. That is what i want, to be invested in a bank, just not the first national crypto bank of douche bags. The banking industry has been such a bunch of bastards that people don't understand that banks can be a good thing if they don't function in such fucked up ways.

So yes, on second thought, scratch the multipool (until the potbase site is done anyway). Start a site like coinbase for potcoin instead. That is what the coin needs. It also wouldn't hurt to control something like that. It could be the first bank with a public ledger, more scrutiny than a credit union!

if you guys turn things around like it looks like your doing. i will buy back POT

Perfect response.

Russ, I welcome your feedback to my post, and I like the fact that you are at least directly addressing my concerns.  My previous post of concerns went completely ignored by @Potcoin.  Thank you.

If the direction of Potcoin is one of a more professional endeavor, than I'm behind it.  While I still don't agree with the halving that is obviously going to happen, I still want to see this coin succeed.

A professional approach is what's needed for adoption.  There's been a ton of talk about "the business" of Potcoin, but recent events made it feel like it's been a couple stoners trying to build a time machine.  They've got a great idea, and the drive to do it, but not the skills to get it done.  If legitimate businesses are going to accept POT, a legitimate and professional approach is needed.

Order some polo/dress shirts with the POT logo, make up some business cards and media kits, and canvas like a professional business.

-Fuse

Fuse,

That's perfectly fair and you have very valid points. It is for those very reasons you are witnessing a positive transformation of PotCoin. The recent pace is unprecedented as it relates to PotCoin and the company behind it. Sorry for the lack of context in regards to that statement. I can assure you that we are transforming in a very positive direction and it is in large due to the insight of people like you. We really do appreciate all commentary, even negative, as it helps us to develop in a direction commensurate with the desires of the community that supports us.

 - Russ.T

Blunt wrappers would be great novelty items, stoners buy anything with a weed leaf on it. Gifts bought at headshops are a huge market, can't forget that.

A few points:

So you didn't have a media kit yet?  So essentially, up until this point you went to vendors looking like yet another stoner, saying "hey dude, Potcoin is cool"?  Wouldn't a media kit be a good idea to have had when you were at the 420 event... where there are TONS of vendors you could have left professional info with?  Again, where is the professionalism and proper business planning?

You're looking for additional funding for new employees?  For what?  The SLOW growth of this coin doesn't seem to warrant the need for additional employees.  If the funding is to buy company shirts, business cards, promotional media, etc... I'd say go for it.  Make it a more professional company before you start to add more people to the team.

The pace isn't "unprecedented".  NLG has gotten 4 food merchants and numerous web services to accept the coin in the last month, and they have an android wallet.  DOGE was an instant success, and is 3rd in vendor utilization in terms of crypto.  What exactly is unprecedented?  I'm sure I could name plenty of other coins that did more than POT did in a shorter time.

It's always a lot of hyped up talk about POT, but not a lot of action.  Stop bringing the news of "we're going to do this and that", and start posting the news of "we did this and that"

-Fuse

looks like POT is improving. good job

Ultimately I think the most important thing for this coin to succeed in retail would be to have a coinbase type service to instantly exchange POT into fiat for merchants. I doubt coinbase will add POT to their service anytime soon so an alternative will need to be created.

Thank you all for being patient with us as we evolve to the rapid demand for PotCoin. We have several updates coming out today and I wanted to take a moment to address the community in regards to our recent developments.

1. New wallet code has been developed
2. ATM's will be deployed soon but we want to ensure a positive user and merchant experience rather than rush the delivery.
3. Our media kit is being finalized and should be available by the end of the week.
4. We have launched our new blog as of last night and will be moving towards centralized media distribution
5. We are growing as a company by adding new employees and securing additional financing
6. Our Authorized PotCoin Merchant program will leave you saying "why would I NOT use PotCoin?"

We are moving at a pace that is unprecedented and I am very pleased with the progress we are making as a company. Here is a preview of the upcoming media kit:
https://i.imgur.com/2hUb44F.png

Thank you to everyone in the community.


Russell Thomas
PotCoin Ambassador to Colorado
Englewood, Colorado
www.potcoin.com

10%.. shoot.. it's halved overnight lol. I agree, "on the ground development". I've been pushing this for awhile, which is why I'm waiting for potcoin to respond to my post.

And what you describe, is what dopecoin is doing right now.

In the end, one has to ask "what does this do, that bitcoin doesn't?". As of now, I see nothing, and people are already using BTC in the MJ world.

But when the price is primarily held up by speculation, you have to give people a reason not to speculate that the price will go down.
I can without a doubt honestly say that in a week the price of potcoin will probably be down another 10% guaranteed, so what incentive does one have to buy potcoin if they can not spend it locally? and what incentive do people have to accept potcoin if they would have to charge say a 5% premium to shield them-self from the inflation? cash fiat seems to be the best way to buy marijuana as it stands.

Best angle would be to dump all development work into making the mobile app as easy/stable/safe/convenient to use as possible so that people can conduct illegal pot purchases anonymously and quickly via phone to phone.
Thats your niche market you need to exploit.

You're missing one  major factor: There's no requirement for potcoin to be of any particular value. This isn't a stock program. This is a monetary transaction shifting system. The value is set by pure speculation.

And if say 2 or 3 merchants pop up and say a gram of grass will cost you 10M/pot, well now you at least have a price point. Could talk for hours about this, but I'd rather hear from potcoin, particularly on my inquiry on the previous page.