Not any coin specific, (except maybe bitcoin itself), Dark Wallet... has built in CoinJoin and other mixing and anonymity features.
Crypto currencies can be as anonymous as you can make it. While it's true you can trace or track transactions, you have no proof of who really owns or does not own the next address in the blockchain.
That, and when coins exchange from bitcoin, to potcoin, to litecoin, to whatever-coin.... gets a lot harder.
Topic: [POT]PotCoin - Banking for the Legal Cannabis Industry ✦ ✦ ✦Grow With Us ✦ ✦ ✦ - page 222. (Read 920136 times)
May 05, 2014, 09:33:45 AM
May 05, 2014, 08:32:59 AM
No mention of this new banking program either...whats your point?
Believe me, their signing up for an actual bank account is true news. They will mention it once approved. They may become the very first dispensary to have an actual bank account.
May 05, 2014, 08:12:42 AM
Guys, people don't only use crypto to buy things from places where they can't use a credit card and/or they expect to be "anonymous." If anyone seriously still thinks crypto is anonymous they need to get their head examined. And most places where Bitcoin is accepted, credit cards are accepted too. Yet some people pay with BTC.
May 05, 2014, 08:10:22 AM
As for your "account" comment...well I don't know exactly what you mean by account and I'm not even sure you do. But the dev's have signed a deal with River Rock where POT is accepted at their locations.
That's fascinating. Unfortunately Riverrock will be dropping potcoin in a few days because we just solved their banking problem. That was the first dispensary to sign up under the new banking program. Small world
As for your "account" comment...well I don't know exactly what you mean by account and I'm not even sure you do. But the dev's have signed a deal with River Rock where POT is accepted at their locations.
I looked through river rock's site and I don't see any mention of potcoin....
No mention of this new banking program either...whats your point?
May 05, 2014, 08:07:53 AM
As for your "account" comment...well I don't know exactly what you mean by account and I'm not even sure you do. But the dev's have signed a deal with River Rock where POT is accepted at their locations.
I looked through river rock's site and I don't see any mention of potcoin....
May 05, 2014, 08:00:19 AM
Looks like potcoin lost the race...
http://finance.yahoo.com/news/mediswipe-inc-announces-green-light-130000934.html
Legal marijuana is a multi-Billion dollar industry and this was always going to happen that banks and credit card agencies would find a way in. It changes very little in that most people buying pot do not want to put a charge on their credit card that documents a transaction that is federally illegal. Retail outlets do not want their money in banks under federal oversight when anything with pot, even selling pipes is considered a federal crime (The feds put Tommy Chong in federal prison for nine months and fined him $20,000 for selling blown glass bongs). Likewise growers want anonymity not credit cards payments leading to bank transfers and records that for all we know are monitored by NSA. In states with legal medical marijuana there are few if any protections for growers, distributors, or drivers. http://finance.yahoo.com/news/mediswipe-inc-announces-green-light-130000934.html
Here is a Washington Post article from earlier this week about the federal government seizing the bank account of a perfectly legal grocery store: http://www.washingtonpost.com/opinions/george-f-will-the-heavy-hand-of-the-irs/2014/04/30/7a56ca9e-cfc5-11e3-a6b1-45c4dffb85a6_story.html -- imagine what could happen to a dispensary or retail outlet that is conducting business, the feds consider illegal, if that business put their money in a bank under federal oversight? The vast majority of the legal marijuana business is still going to want an anonymous payment system, and cash while anonymous, is problematic. Potcoins offer fast, secure, anonymous payments where you don't have to even meet with the other party to make or receive payments.
You make many assumptions which are likely untrue. The assumption that people would not want to use their credit cards is unfounded as many many people buy from dispensaries with their debit cards today. The assumption that regulated retailers don't want a bank account or that these people don't trust banks is absurd. A simple conversation or review of major press indicates that dispensary owners are BEGGING for bank accounts. The notion that growers are afraid of the NSA is folly, you may be afraid of the NSA but those of us in the industry don't give a rats ass about the NSA.
Then you throw in a story about some guy having his bank account seized and that makes what point?
So back to MY point... it looks like the banking problem has been solved.
So where is the value in potcoin at this point?
Isn't this exactly what potcoin was looking to solve?
They just put two atm's in Denver, right?
How many accounts have they won?
Any? A single one? no?
Then why is anyone supporting this non-sense coin that solves no known problem?
The banking situation is certainly not solved...MediSwipe is a step in the right direction, a step back for Potcoin. But certainly nothing that will derail this coin. MediSwipe is still a cash company. They are Paypal of the Medical world.
Merchants are completely at the mercy of whatever rules or fees that company chooses to impose. Not so with Potcoin.
As for your "account" comment...well I don't know exactly what you mean by account and I'm not even sure you do. But the dev's have signed a deal with River Rock where POT is accepted at their locations.
May 05, 2014, 07:48:47 AM
While I get the spirit of what Jamis is saying, the reality is slightly different. The NSA, if /that/ concerned, would simply have field agents on the ground working the social factor. They'd be a paid worker like everyone else, growing, trimming, shipping, etc. Inside information is cheap and easy.
Also, the US govt got turned on once they saw how easy it was to trace cryptocurrency transactions. With potcoin it's no different. There's a fiat input and output at some point, and everything between is traceable easily by computer. To think it's anonymous is a bit silly.
To see it as a useful payment system, then yes it would be that.
I still support potcoin.. we'll see where it goes.
Also, the US govt got turned on once they saw how easy it was to trace cryptocurrency transactions. With potcoin it's no different. There's a fiat input and output at some point, and everything between is traceable easily by computer. To think it's anonymous is a bit silly.
To see it as a useful payment system, then yes it would be that.
I still support potcoin.. we'll see where it goes.
May 05, 2014, 07:38:38 AM
Looks like potcoin lost the race...
http://finance.yahoo.com/news/mediswipe-inc-announces-green-light-130000934.html
Legal marijuana is a multi-Billion dollar industry and this was always going to happen that banks and credit card agencies would find a way in. It changes very little in that most people buying pot do not want to put a charge on their credit card that documents a transaction that is federally illegal. Retail outlets do not want their money in banks under federal oversight when anything with pot, even selling pipes is considered a federal crime (The feds put Tommy Chong in federal prison for nine months and fined him $20,000 for selling blown glass bongs). Likewise growers want anonymity not credit cards payments leading to bank transfers and records that for all we know are monitored by NSA. In states with legal medical marijuana there are few if any protections for growers, distributors, or drivers. http://finance.yahoo.com/news/mediswipe-inc-announces-green-light-130000934.html
Here is a Washington Post article from earlier this week about the federal government seizing the bank account of a perfectly legal grocery store: http://www.washingtonpost.com/opinions/george-f-will-the-heavy-hand-of-the-irs/2014/04/30/7a56ca9e-cfc5-11e3-a6b1-45c4dffb85a6_story.html -- imagine what could happen to a dispensary or retail outlet that is conducting business, the feds consider illegal, if that business put their money in a bank under federal oversight? The vast majority of the legal marijuana business is still going to want an anonymous payment system, and cash while anonymous, is problematic. Potcoins offer fast, secure, anonymous payments where you don't have to even meet with the other party to make or receive payments.
You make many assumptions which are likely untrue. The assumption that people would not want to use their credit cards is unfounded as many many people buy from dispensaries with their debit cards today. The assumption that regulated retailers don't want a bank account or that these people don't trust banks is absurd. A simple conversation or review of major press indicates that dispensary owners are BEGGING for bank accounts. The notion that growers are afraid of the NSA is folly, you may be afraid of the NSA but those of us in the industry don't give a rats ass about the NSA.
Then you throw in a story about some guy having his bank account seized and that makes what point?
So back to MY point... it looks like the banking problem has been solved.
So where is the value in potcoin at this point?
Isn't this exactly what potcoin was looking to solve?
They just put two atm's in Denver, right?
How many accounts have they won?
Any? A single one? no?
Then why is anyone supporting this non-sense coin that solves no known problem?
May 05, 2014, 06:53:32 AM
I unfortunately agree with Vlad.
Bitcoin was the pioneer. Don't forget that Bitcoin gained notoriety because of Silk Road and the illegal transactions. Still the only reason it has any value today is that bridges the virtual/physical gap.
I LOVE the concept and draw of Potcoin, but bridging that gap in the Cannabis world is critical. At every opportunity for positive press to be released, it needs to be ... even if its a trial, experiment or beta. The BUZZ needs to grow and Potcoin needs to grow into is tagline.
As an investor and interested party -- Here are some key things:
1) There needs to be a very conscious effort to legitimize the coin and efforts. As a start, the Website needs to have clear BIOS of all major participants and officers and all also a very clear view into their POT holdings. All participants need to be referenced by name and communication channels need to be opened.
2) We have heard so much about Denver -- where are the press releases ? One press release would make this coin skyrocket and firmly place it out front in the niche.
3) Devs need to fix the bugs and issues.
4) Engage the community. The DOGE community is huge and strong -- it is got there by being very active here, Reddit, Twitter, etc. This needs to be a priority -- get the word out on a daily basis about why and how POT will become the best thing in the Cannabis world.
These are simple things that would kill all the rumors and trash talking and at the same time give immense confidence to this coin and community.
FINALLY -- if you are not part of the solution, your part of the problem ..... I own and run a software/web development company and am also a 20+ investor in virtually every traded market. I would be happy to pitch in and help.
The growth of this coin and concept relies on trust, focus and transparency. Without those things serious investors will eventually walk away.
Bitcoin was the pioneer. Don't forget that Bitcoin gained notoriety because of Silk Road and the illegal transactions. Still the only reason it has any value today is that bridges the virtual/physical gap.
I LOVE the concept and draw of Potcoin, but bridging that gap in the Cannabis world is critical. At every opportunity for positive press to be released, it needs to be ... even if its a trial, experiment or beta. The BUZZ needs to grow and Potcoin needs to grow into is tagline.
As an investor and interested party -- Here are some key things:
1) There needs to be a very conscious effort to legitimize the coin and efforts. As a start, the Website needs to have clear BIOS of all major participants and officers and all also a very clear view into their POT holdings. All participants need to be referenced by name and communication channels need to be opened.
2) We have heard so much about Denver -- where are the press releases ? One press release would make this coin skyrocket and firmly place it out front in the niche.
3) Devs need to fix the bugs and issues.
4) Engage the community. The DOGE community is huge and strong -- it is got there by being very active here, Reddit, Twitter, etc. This needs to be a priority -- get the word out on a daily basis about why and how POT will become the best thing in the Cannabis world.
These are simple things that would kill all the rumors and trash talking and at the same time give immense confidence to this coin and community.
FINALLY -- if you are not part of the solution, your part of the problem ..... I own and run a software/web development company and am also a 20+ investor in virtually every traded market. I would be happy to pitch in and help.
The growth of this coin and concept relies on trust, focus and transparency. Without those things serious investors will eventually walk away.
May 05, 2014, 12:28:55 AM
Well, if bitcoin or litecoin is any indication, potcoin can potentially be 1 USD next year, and then 30 USD the year after, dropping down to 2 USD, then going up to 100 USD, then dropping down to 50 USD, then going up to 900 USD, then dropping down to 400 USD.
You're joking, right?
Bitcoin has 21 million coins maximum hardcap.
POTcoin has 420,000,000.
Bitcoin has the entire planet, 7+ Billion People as an addressable market [and a massive head start - plus an ultra secure network which only 4 alt coins posses].
POTcoin will never be more than a niche market planet, albeit, this niche market is a multi billion dollar market.
So think Market Capitalization and run your numbers again.
May 04, 2014, 11:34:01 PM
Well, if bitcoin or litecoin is any indication, potcoin can potentially be 1 USD next year, and then 30 USD the year after, dropping down to 2 USD, then going up to 100 USD, then dropping down to 50 USD, then going up to 900 USD, then dropping down to 400 USD.
May 04, 2014, 11:09:15 PM
People are ridiculous, everyone expect to get rich overnight.
Buy some freaking potcoins, shove them in a wallet, and go afk for a year like normal human beings and stop acting like you need these coins to go through the roof in value so you can retire early.
I think people that act like that are just so desperate for money that if crypto-fails they would go hang themselves out of desperation.
Rome wasn't built in a day.
The way people act you would think 99% of crypto - users are 12 years old.
No one buys stocks and expects them to go up 9000% over-night, if you want FIAT that bad, go work and produce something someone wants.
Buy some freaking potcoins, shove them in a wallet, and go afk for a year like normal human beings and stop acting like you need these coins to go through the roof in value so you can retire early.
I think people that act like that are just so desperate for money that if crypto-fails they would go hang themselves out of desperation.
Rome wasn't built in a day.
The way people act you would think 99% of crypto - users are 12 years old.
No one buys stocks and expects them to go up 9000% over-night, if you want FIAT that bad, go work and produce something someone wants.
its suppose to be a long term investment, this isnt day trading penny stocks. i mean you can do it that way but the best way to make solid money and a return on the investment is to buy coins and wait at least a few months... and you will make money.
potcoin has longterm plans and we have a vision of what the community wants and needs. Adoption if the most important thing and the main reason we created this coin.
HELP THE CANNABIS INDUSTRY TRANSACT DAILY, SECURELY, EASILY VIA CRYPTO CURRENCY SOLVING THE PROBLEM OF DEALING ONLY IN CASH AND BANKS NOT WANTING TO DEAL WITH THEM. Once it becomes adopted then the price of the currency will get to where is needs to be and everyone can profit from it.
stop thinking about how much money you can make today or tomorrow and think about how much money you could make if you only sold in 6 months or a year....
this is coin will be at 1$ by 4.20 next year not matter what happens... and im going to say at least 10 bucks.
what do you guys think?
May 04, 2014, 08:31:59 PM
People are ridiculous, everyone expect to get rich overnight.
Buy some freaking potcoins, shove them in a wallet, and go afk for a year like normal human beings and stop acting like you need these coins to go through the roof in value so you can retire early.
I think people that act like that are just so desperate for money that if crypto-fails they would go hang themselves out of desperation.
Rome wasn't built in a day.
The way people act you would think 99% of crypto - users are 12 years old.
No one buys stocks and expects them to go up 9000% over-night, if you want FIAT that bad, go work and produce something someone wants.
Buy some freaking potcoins, shove them in a wallet, and go afk for a year like normal human beings and stop acting like you need these coins to go through the roof in value so you can retire early.
I think people that act like that are just so desperate for money that if crypto-fails they would go hang themselves out of desperation.
Rome wasn't built in a day.
The way people act you would think 99% of crypto - users are 12 years old.
No one buys stocks and expects them to go up 9000% over-night, if you want FIAT that bad, go work and produce something someone wants.
May 04, 2014, 06:59:58 PM
Antsy to get on board something else. There is no shortage of competitors for Potcoin...if somebody feels they are better suited investing in another coin they will do it. Its not even hard, exchanges make it happen in minutes.
I know the coin is still young and I'm not trying to raise any red flags about the price. The price is fine. Lower than many people were expecting but its fine. I'm concerned with the lack of support for the coin. I see more people in here bashing the Devs than anything else. And its starting to make its way to /r/potcoin.
We need something positive to get support going again. Or people are going to keep jumping ship.
I know the coin is still young and I'm not trying to raise any red flags about the price. The price is fine. Lower than many people were expecting but its fine. I'm concerned with the lack of support for the coin. I see more people in here bashing the Devs than anything else. And its starting to make its way to /r/potcoin.
We need something positive to get support going again. Or people are going to keep jumping ship.
The people bashing are not long term people. Heck I was one of the pioneers and I don't remember many of the names that are bashing besides a few of them. Heck I would be a lurker, then start talking lots of crap to make it look like I did something. I would ask these people bashing for their detailed post and whatnot from the beginning to see if their bashing has much merit in them or is it just "I didn't make big $$$$ so I say blah blah blah....
If anyone cares to read my post, thats fine but I am just saying the bashers need to be investigated to see if they hold as much merit as they claim.
May 04, 2014, 03:45:03 PM
So after investigation on these matters we have come to the conlusion that our dns servers have been gettings ddossed and also people had been trying to hack them... the servers where taking so much fake traffic that our host took the servers offline. This has been happening again when servers come back, then they get flooded again. We are working on a bunch of new servers distributed worldwide and we will be putting up redundent nameservers also. The sync problem will be fixed shortly.
Pls follow potcoin on twitter and follow #potcoinalerts
We will be making an alert system to monitor network services and also alert via email and twitter etc.
We will also be releasing a timeline of all work and projects being worked on and the percent of accomplishment.
We have lots in store and news coming this week.
Just think that only 2 states are legal and how big the industry already is. In the next few years crypto will become more.and more.adopted and cannabis will become more.and more legal. Both those factors plus the potcoin teams ideas and execution and our new team members will make this coin be a huge success.
We have already acoomplished more.than 90 percent of the coins out there.
I want everyone to go to youtube.com and look for river rock tv.
River rock is accepting potcoins at both their locations in denver and both the potcoin ATM are also located inside.
Full details and photos coming this week and a full press release.
Lets all calm down and not panic just because impatient people are dumping.
Ive been buying
Sincerly
Your friend
Smokemon
Pls follow potcoin on twitter and follow #potcoinalerts
We will be making an alert system to monitor network services and also alert via email and twitter etc.
We will also be releasing a timeline of all work and projects being worked on and the percent of accomplishment.
We have lots in store and news coming this week.
Just think that only 2 states are legal and how big the industry already is. In the next few years crypto will become more.and more.adopted and cannabis will become more.and more legal. Both those factors plus the potcoin teams ideas and execution and our new team members will make this coin be a huge success.
We have already acoomplished more.than 90 percent of the coins out there.
I want everyone to go to youtube.com and look for river rock tv.
River rock is accepting potcoins at both their locations in denver and both the potcoin ATM are also located inside.
Full details and photos coming this week and a full press release.
Lets all calm down and not panic just because impatient people are dumping.
Ive been buying
Sincerly
Your friend
Smokemon
May 04, 2014, 03:44:17 PM
Been mining for a 3 months. not too profitable.
http://i243.photobucket.com/albums/ff122/paladin64/light_zpsadda8e6b.png
http://i243.photobucket.com/albums/ff122/paladin64/light_zpsadda8e6b.png
May 04, 2014, 03:01:54 PM
Antsy to get on board something else. There is no shortage of competitors for Potcoin...if somebody feels they are better suited investing in another coin they will do it. Its not even hard, exchanges make it happen in minutes.
I know the coin is still young and I'm not trying to raise any red flags about the price. The price is fine. Lower than many people were expecting but its fine. I'm concerned with the lack of support for the coin. I see more people in here bashing the Devs than anything else. And its starting to make its way to /r/potcoin.
We need something positive to get support going again. Or people are going to keep jumping ship.
I know the coin is still young and I'm not trying to raise any red flags about the price. The price is fine. Lower than many people were expecting but its fine. I'm concerned with the lack of support for the coin. I see more people in here bashing the Devs than anything else. And its starting to make its way to /r/potcoin.
We need something positive to get support going again. Or people are going to keep jumping ship.
May 04, 2014, 02:16:23 PM
None of which is an issue, as long as the coins become more useful over time. If in a year from now we are at the same exact place, then yes, perhaps something may not be right.
It's not an issue right now. But it could become a problem if large holders get antsy. Every day there isn't progress those coins lose significant value because so many new coins are being generated.
Like I've been saying we need to be able to buy things with Potcoin...not just trade it for other currency. Getting Coinpayments.net was great but I have seen nothing new about it. That service should allow merchants to embed a payment button directly into their websites to accept Potcoin.
Now people need to start using the service. Buy things with your Potcoin. Merchants take notice when competition is making money in a different way. Thats how we spread. Let your Potcoin wallets show other people that this is a currency...not a pump and dump scheme.
Antsy for what? Immediate profits on their coin? This is not the place for that. Gosh golly, it is only legal in how many states? It is a work in progress, the industry, let alone a crypto being targeted for this yet to be industry. The amount of coins shouldn't really dilute the current value all too much. There is no magic about it, they are not the reserve, there should never be more than 420 million coins, no? So, we can establish a value based purely off that if we really want to. I think they call it speculation? I believe it is how most of these coins derive their value to begin with.
I actually purchased some incense, using ltc, through coinpayments after browsing through their merchants. It was not difficult, of course there is some type of button to choose which payment options you want, i think you are talking about more shopping cart type stuff on the merchants end?
I would like to see them kinda do a one size fits all, where all the coins they accept are all the coins their merchants accept. I get that allowing merchants to pick and choose creates this illusion of control for the merchant, but if the service acts as a middle man that takes the coins, then sells or "buys" them from the merchants and gives the fiat to the merchant, why not just force all merchants to accept all coins?
I do not disagree with you. The huge issue is managing to sustain potcoin at a price that people do not mind spending it at. You need to figure out your cost of hardware and electricity and blah blah blah to find out what it cost YOU and then figure out if what you are trading your coins for has the same value to you.
May 04, 2014, 01:45:16 PM
None of which is an issue, as long as the coins become more useful over time. If in a year from now we are at the same exact place, then yes, perhaps something may not be right.
It's not an issue right now. But it could become a problem if large holders get antsy. Every day there isn't progress those coins lose significant value because so many new coins are being generated.
Like I've been saying we need to be able to buy things with Potcoin...not just trade it for other currency. Getting Coinpayments.net was great but I have seen nothing new about it. That service should allow merchants to embed a payment button directly into their websites to accept Potcoin.
Now people need to start using the service. Buy things with your Potcoin. Merchants take notice when competition is making money in a different way. Thats how we spread. Let your Potcoin wallets show other people that this is a currency...not a pump and dump scheme.
Jump to: