Around six or seven months ago I discovered Potcoin while looking to invest in and expand my crypto portfolio. Obviously I support Medical Marijuana and Potcoin was a logical choice that stood out from the other coins that support or claim to be cannabis related. Why?? Well after some research it became apparent the coin had the best development team, a strong following, new features being developed and in a nutshell, Potcoin showed promise for the future, in it's niche that is. Its a fact that Medical Cannabis sales in the US alone are a multi Billion $$$ industry. Potcoin is the crypto currency of the cannabis world and I see a potential long term investment! With that said a few facts and some info on potcoin and why it might be a good crypto currecy to hold.
Potcoin is already accepted by merchants.
Potcoin is know as the coin to help facilitate legal cannabis transactions. Potcoin makes legal cannabis sales a simplified method of transaction. With many places in the world having legal cannabis sales, including some states in the USA legalizing cannabis, PotCoin has a nice growing merchant-base for accepting Potcoins for payment. Source
Also as you can see "Crypto Juice" a hemp energy drink is powered by potcoin, I thought that was pretty cool. It would appear potcoin is also making a real effort in the real world.
POTCOIN – Official Press Release – May 8, 2017
Potcoin is pleased to announce that it has secured a partnership with Cannabis Culture Amherst as merchant and coin exchange effective immediately.
This major partnership is the result of an incredibly successful 4.20 rally in Montreal, Canada at Mount Royal Park. Images and a video of the event will be uploaded to our blog in the coming weeks. Source: potcoin.com
App development was the next thing I looked into. Introducing the " POTWALLET" the official potcoin payment processor.
Works great!
A simple market analysis
Let me start with a disclaimer hahaha. I am still relatively new to crypto market analysis but would like to think I know something, right? Well the chart speaks for itself I guess and I would appreciate any input.
Overall as you can see there have been a few dips with each one recovering nicely. Over the last three months the potcoin price has consistently risen to 0.00005020 BTC or $0.10c per coin. I have profited almost ten fold since my initial investment :-).
Useful links.
Thanks for reading I am looking forward to any feedback. Especially if anyone who has some real market expertise would be kind enough to Analise this coin a little bit and give some feedback. The only way for me to know if I am on track will be to compare what I have learn to other opinions and analyses.
Cheerz
If it's used to "facilitate legal cannabis transactions", what is better than going there with normal dollars?. I assume you should store Potcoins in a wallet or similar, so what's the value of using them?
Pd: interesting post!
If the value of the cannabis is still priced in dollars, and you've invested in potcoin, which should theoretically go up as the nation moves towards legalization, then you're effectively getting it at a discounted rate. No? My logic could be flawed.
So its like the bitcoin of the cannabis world. I think I just might need to look into this. Thanks for the info
this is a great write up... i did like pot coin but find now the dev team talks alot shit and found DOPEcoin where they are working like crazy to get seedshops and dispensors online so i just maybe say to look in to dope coin before it moon's
I bought some for fun. Why the heck not
I agree on many of your points. I found a few shops in Vegas are now using potcoin for transactions. What are your thoughts on the other 3 cannabis coins? Checkout my article when you get a chance and tell me what you think. Upvoted and followed. https://steemit.com/cryptocurrency/@stacking9mm/cannabis-coins-and-the-future-of-marijuana