Nice post, Erika and nice idea to get human eyes on an automated translation. I didn't know about HempCoin although I've heard of PotCoin before. I'm going to take a look at HempCoin because I want to know if it does anything an established currency doesn't do.
You are viewing a single comment's thread from:
THANK YOU SO MUCH, @voluntary! That's exactly what I was hoping for, due to my lack of expertise in these arenas. I got the sense that HempCoin would be of extra benefit to farmers/growers, the overall ag industry, and MJ dispensaries. I am down for all of those. Please do let me know your thoughts/findings :-)
I've only seen the Bitcointalk announcement and their homepage so far - I'm surprised it's been around since March 2014... I'm still unclear how their own coin enables them to support the people / industries they want to support. It's not like Dash which has a divided block reward so I'm assuming the founders or organisers would have to either mine and / or stake their own coins to generate a sustainable income for them to use. To be honest, they don't need their own coin to do that, mining or staking any other coin, preferably with a larger base of users, would give them that income. This is pretty much how I see PotCoin. I think projects like this are referred to as 'cause-coins' - which is all well and good but crypto currencies need to offer technical innovation to distinguish themselves among their competition. Don't be discouraged though, even PotCoin has had periods of high market activity and HempCoin appears to going through that kind of activity lately. Their success will come from how well they carry though with their goal of funding the hemp industry - and perhaps even lobbying efforts if those are on the agenda.
"crypto currencies need to offer technical innovation to distinguish themselves among their competition." <--- Yes, absolutely!
@voluntary, you probably already know that more than 30,000 (that's the conservative number) commercial uses have been identified for hemp.
America has no industrial precedent like the full production of hemp. Even automotives won't compare. Hemp is a titan like no other, and deserves a category larger, and more dignified than just 'cause coin.'
Do other causes bring with them multi-millions, from their inherent value? Most causes NEED millions, lol.
So, I know I'm looking at this with a lot of futurism in mind... and am just wondering how best to GET IN FRONT OF A BILLION DOLLAR AGRICULTURAL INEVITABILITY.
I deeply appreciate your engagement with me on this.