PotCoin: The Green Cryptocurrency
PotCoin is the first of its kind when it comes to marijuana based cryptocurrency. Although there are many other cryptocurrencies that are marijuana based, PotCoin was the first to walk through the door.
The Original Marijuana Cryptocurrency
One might think that being a marijuana based digital asset, PotCoin would frown on other competing marijuana cryptocurrencies. Not true. Not only does PotCoin welcome other marijuana based cryptocurrencies... they encourage it.
Other marijuana based cryptocurrencies such as HempCoin, DopeCoin and CannabisCoin may not be as well known as PotCoin, but they are just as dedicated.
PotCoin is simply a peer-to-peer cryptocurrency that wants to become the standard way to purchase legal marijuana within the legal cannabis industry. PotCoin was similar to Litecoin as a "Proof-of-Work" type crypto. However, on August 23, 2015, PotCoin changed over to the "Proof-of-Stake-Velocity" (PoSV), which is a model created by the amazing founders over at Reddcoin. PotCoin is not controlled by any central authority and provides a decentralized solution for a quicker and safer way to transfer value.
The PotCoin Founders
I found it hard to identify the names of the three founders of PotCoin. The articles I've come across to get a confirmation of these three individuals were unsuccessful. I did find out the three "screen names" (aka. nicknames).
They go by:
- Mr. Jones
- Smokemon 514
However, if you go over to PotCoin.Com, you would discover that a person by the name Joel Yaffe of Montreal is identified as the founder. I was also a bit disappointed with their News Webpage that there was such a long gap between entries (April 22, 2018 until January 21, 2019). And right now...? It's been almost nine months and not a single entry has since been placed.
Where's everybody at over at PotCoin?
In fact, where are they located?
PotCoin is a well-trusted establishment and a vibrant spark in their community. I'm guessing that their headquarters are in either Montreal, Canada or in Toronto, Canada. I cannot get/confirm any information on where PotCoin headquarters is located.
I went over to Twitter and asked PotCoin if they had a main headquarters or not. If so, where was it located? As I'm writing this right now, PotCoin has not since responded. Although I do hope PotCoin responds before I submit this Hub for publication, it would not surprise me if their response took a few days, weeks or even not at all.
Is PotCoin a Good Investment?
PotCoin is a Risky Investment
Some would say that the whole cryptocurrency market is a risky investment. Maybe a few years ago that statement would be somewhat true, but today... great companies like Ripple and the XRP digital asset are getting governments, banks and other great companies like MoneyGram from around the world and are getting involved with what Ripple and XRP have to offer. They are bringing cryptocurrency to light.
Have you heard with what's going on with the Federal Reserve?
It's not looking good.
I believe that PotCoin has the potential to be every bit as popular as XRP and even BitCoin and just as valuable. Not only PotCoin but even up & coming marijuana based cryptocurrency BlazerCoin which is currently at (the time I am writing this) $0.00000647. As soon as the United States legalizes marijuana on a federal level, I suspect marijuana based cryptocurrencies could be seeing a price rise.
Honestly, is PotCoin a good investment? It depends on how you feel with what is going on with the legalization of marijuana in the United States. Mind you, that PotCoin gets MOST of its business outside the United States. However, if the legalization of marijuana in the United States ever comes to pass, I suspect that statistic would change... drastically.
But that's me.
I am not a financial advisor.
This is for entertainment purposes only.
This is my opinion and mine alone.
So, is PotCoin currently a good investment?
No. PotCoin is not currently a good investment.
Although I claim that PotCoin is currently NOT a good invest -- I did invest in PotCoin.
Not to sound hypocritical, but I've also taken advantage of their current price which is much lower than when I first purchased PotCoin. To me, I feel that PotCoin is a fabulous investment, however, on a logistic point of view I cannot agree.
This brings me to another point:
Never invest more than you can afford to lose.
Participate in this PotCoin Poll
If you could afford to, would you invest in PotCoin?
I hope you got a little something about PotCoin. Although this marijuana cryptocurrency may be extremely risky, it could be extremely valuable someday.
Remember: "could be"
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
© 2019 James Timothy Peters