This could be a trend domain investor’s dream, the combination of a crypto currency and marijuana. Two of the more popular threads on Namepros are the showcase threads for Marijuan, Pot, Hemp names, and one for showcasing your Bitcoin names.
Roger Huang wrote on Tech Crunch about Pot Coin
It started with one evocative name shouted into the phone from one developer to another: “Potcoin!”
The Founding Fathers had to work for years to craft a Constitution that would grant the government the power to “coin money.” However, three developers in the frozen north, who were only able to provide me with pseudonyms because the businesses and investors they’re associated with would frown upon their new venture, had, within weeks, gone from uttering that single word to creating a cryptocurrency.
Hasoshi, Mr. Jones, and Smokemon 514 (“gotta smoke em all!” he shouts) united online to develop Potcoin, an online Bitcoin-like currency that can be used to store value. It launched on January 21, 2014 — at 4:20 p.m. The Potcoin team is defying conventional banks, money laundering authorities, and the DEA in order to build out a safer way for marijuana dispensaries to deal with daily transactions.
MT.Gox and Bitcoin might have had their problems, but that hasn’t stopped a bunch of alternative cryptocurrencies from trying to steal the spotlight. In this brave new world, Internet trends have become a viable means of supporting real-world causes. It was dogecoins that sent the Jamaican bobsled team to Sochi, Auroracoins that helped the Icelandic people escape from economic disruption, and if the trio of Potcoin developers has its way, it’ll be Potcoins that will help you buy the recently legalized marijuana in Colorado and Washington.
Read the full article here
To save time for those searching PotCoin is registered in:
Com/net/org/info/co/me/mobi/info/us/co.uk/ca/in/de and yes .Today
Again, MarijuanaGuy is laughing all the way to the bank.
I knew this story would be up your alley.
…I dunno. It does appear that the Federal government will shortly allow banks to accept currency from legal/medical marijuana and industrial hemp companies shortly. I kinda doubt that those enterprises want to risk using crypto-currencies when it is so close to being accepted.
Many have learned from bitcoin how the safety of these new-fangled techniques can be and are being compromised. Still need to create better security regarding this method of exchange…
Yeah, a secure digital currency for people who chronically can’t remember their passwords. What could possibly go wrong?
What windy_city said.
I believe the DoJ is recognizing that while they don’t want banks involved in money laundering, the current banking restrictions which result in people running around with ungodly amounts of cash isn’t desirable either. Enabling these businesses to do regular banking also provides accountability in relation to their various state regulatory and tax obligations.
I heard about this Potcoin, I think they may be on to something. It makes you wonder about the future of how we buy and sell. Maybe these virtual coins will have a sub-niche for each product, Carcoin, Meatcoin, GameCoin, etc. Can’t wait to see what happens
My blog on Potcoin: http://www.pharmapunk.com/potcoin-official-crypto-currency-marijuana-industry/