# The new bitcoin??
**URL:** https://forums.speedlife.net/t/the-new-bitcoin/274735
**Category:** NYSpeed Off Topic
**Created:** [June 13, 2017, 5:45am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735 "2017-06-13T05:45:12Z")
**Posts on this page:** 16
**Page:** 1
### Author:  [@ubengineering](https://forums.speedlife.net/u/ubengineering)
#### Post date: [June 13, 2017, 5:45am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/1 "2017-06-13T05:45:12Z")
No one really thought bitcoin would take off the way it did. Anyways, I see that Dennis Rodman is back in North Korea to “open a door to peace”. But he’s being sponsored by the crypto currency, PotCoin, aimed at only being used for legal marijuana purchases.
I’ve made a considerable sum of money in a few short years on marijuana stocks and this seriously has me interested, even though now it’s secrecy is kind of out of the bag. Last I saw it was .14 a coin I believe (is that how it works??).
Discuss if you’d like.
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### Author:  [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)
#### Post date: [June 13, 2017, 6:25am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/2 "2017-06-13T06:25:40Z")
Weed? Rodman? North Korea? I’m out.
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### Author:  [@JayS](https://forums.speedlife.net/u/JayS)
#### Post date: [June 13, 2017, 6:55am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/3 "2017-06-13T06:55:27Z")
This might be a good investment if it didn’t look like the fed was going to fix the giant loophole of legal state marijuana companies not being able to use banks because marijuana isn’t legal federally and banks are federally run, but the government is addressing that. As soon as they do PotCoin’s entire business model implodes.
> **[House bill would allow marijuana related business to access banking system -...](https://financialregnews.com/house-bill-allow-marijuana-related-business-access-banking-system/)**
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> U.S. Reps. Ed Perlmutter (D-CO), Denny Heck (D-WA), and Don Young (R-AK) introduced legislation to allow marijuana-related businesses in states where it is legal to access the banking system. The Secure and Fair Enforcement Banking Act (SAFE Banking...
PS… when it comes to NK anyway, Dennis Rodman gets shit done:
> North Korea releases jailed US student Otto Warmbier
> **[Otto Warmbier, freed by North Korea in a coma, to arrive in hometown...](https://www.foxnews.com/world/otto-warmbier-freed-by-north-korea-in-a-coma-to-arrive-in-hometown-cincinnati-for-urgent-medical-care)**
>
> Otto Warmbier, the U.S. college student arrested, tried and imprisoned in North Korea for more than a year for trying to swipe a souvenir from a hotel, was expected to arrive late Tuesday in Cincinnati, his hometown, for urgent medical treatment.
PPS… Fuck any American dumb enough to visit NK. You deserve anything you get and I hope our government doesn’t waste a bunch of time negotiating your return.
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### Author:  [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)
#### Post date: [June 13, 2017, 7:09am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/4 "2017-06-13T07:09:43Z")
I came back to post about the release. Shit, can Rodman get things done? 1 free, 3 more to go though.
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### Author:  [@choko](https://forums.speedlife.net/u/choko)
#### Post date: [June 13, 2017, 7:36am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/5 "2017-06-13T07:36:01Z")
i been a trader and financial/crypto analyst for years and to sum it up, crypto currencies will make you way more money then normal stocks if you do your research.
the technology is here to stay. especially with Ethereum and other important ones.
As for Potcoin. [http://coinmarketcap.com/currencies/potcoin/](http://coinmarketcap.com/currencies/potcoin/)
It has a $40 million market cap. It is up close to 100% 24/hrs. I put a long buy | market cap target of $350+ million on it / $.75+ coin
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### Author:  [@bing](https://forums.speedlife.net/u/bing)
#### Post date: [June 13, 2017, 8:10am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/6 "2017-06-13T08:10:04Z")
how do you even buy these things and know what you have?
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### Author:  [@maxwell](https://forums.speedlife.net/u/maxwell)
#### Post date: [June 13, 2017, 8:19am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/7 "2017-06-13T08:19:43Z")
I’ve been out of GPU for a while now as everyone and their brother are trying to put together mining rigs. Wild shit.
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### Author:  [@choko](https://forums.speedlife.net/u/choko)
#### Post date: [June 13, 2017, 8:36am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/8 "2017-06-13T08:36:34Z")
> [@bing](#):
>
> how do you even buy these things and know what you have?
few links to get your foot in the door.
[coinbase.com](http://coinbase.com) - buy bitcoin/ethereum/litecoin - or you can use my link and get a whopping $10 bonus on your 1st $100 buy lol [https://www.coinbase.com/join/58976ea1c5945c4c3a692435](https://www.coinbase.com/join/58976ea1c5945c4c3a692435)
[Bittrex.com](http://Bittrex.com) - live instant buy sell over 500 different crypto currencies, example: [Thanks from Bittrex](https://bittrex.com/Market/Index?MarketName=BTC-POT)
[coinmarketcap.com](http://coinmarketcap.com) - shows all market caps/data
List goes on. best bet would be just google
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> [@maxwell](#):
>
> I’ve been out of GPU for a while now as everyone and their brother are trying to put together mining rigs. Wild shit.
yeah just like in 2013 i knew this would happen so i bought some stock in AMD as i figured it would surge again :lol:
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### Author:  [@maxwell](https://forums.speedlife.net/u/maxwell)
#### Post date: [June 13, 2017, 8:42am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/9 "2017-06-13T08:42:04Z")
@choko Q1 2016 was the time to buy, trading at 1.80~ or somewhere around there. It’d dipped a bit recently, down to 11.84~ as of today but it was up as high as ~15 recently i think. It’ll keep moving in the right direction.
I mentioned it last year in the ‘stocks and investing’ thread but everyone had such a boner for the weed stocks that no one noticed, lol
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### Author:  [@ubengineering](https://forums.speedlife.net/u/ubengineering)
#### Post date: [June 13, 2017, 9:44am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/10 "2017-06-13T09:44:06Z")
My boner was indeed in and still is in weed stocks.
On a serious note, thanks to Dennis Rodman, several thousand people became millionaires today, considering not too long ago this coin was worth .0009
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### Author:  [@boxxa](https://forums.speedlife.net/u/boxxa)
#### Post date: [June 16, 2017, 11:26am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/11 "2017-06-16T11:26:49Z")
Potcoin and all those are just the same branded Bitcoin and will return to the mean sadly with people getting burned.
The tech isn’t any different than using Bitcoin and the issue will also be that if they are getting paid in it, they need to make sure their supply chains also take it which isn’t as big yet. Bitcoin has helped the pot business a bunch since they can’t use banks with storage of funds and conversions of cash to something more manageable.
Big two players right now are Bitcoin as the one that started it all and being looked at as a storage of value. You can buy on Coinbase but their fees are awful and the site goes down anytime there is a price movement. I just link it since its easily linkable to GDAX to exchange and day trade with but also goes down a lot. Ethereum has a long way to go but being used as a computing network as opposed to a transaction network has its value. Getting more attention as another leader so been scooping that up below $100 and trading it consistently with the 10-20% moves we keep seeing.
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### Author:  [@ubengineering](https://forums.speedlife.net/u/ubengineering)
#### Post date: [June 22, 2017, 8:30pm UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/12 "2017-06-22T20:30:55Z")
Well gentlemen and @boxxa, I’m going to bet against the market and today I made my first purchase of potcoin. I spent 100$ and even though the coin is only worth .13 I purchased it for .18 as I’m getting the feel of investing in digital currency. I like small cost investments as they’ve paid off the most for me over the years.
Figure I’ll throw 50$ a month at it, see where it goes. If worst comes to worst I may lose a couple bucks but if it pays off ehhh we will see. 80% of anything weed related seems to be destined for greatness years from now, though that’s only my personal experience through my couple of marijuana-related company investments.
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> [@bing](#):
>
> how do you even buy these things and know what you have?
I use [potcoin.com](http://potcoin.com) Great reviews, pretty secure (it seems) and they have a thing called a pot wallet. You buy and sell from/to other users and they have feedback ratings like ebay does.
Also @boxxa, since I had to buy at a premium from another user, where would be the best place to buy this coin??? I tried a few websites but my Visa card is not 3D secured (whatever tf that means).
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### Author:  [@JayS](https://forums.speedlife.net/u/JayS)
#### Post date: [June 23, 2017, 4:35am UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/13 "2017-06-23T04:35:36Z")
Eh, as soon as regulators fix the federal loophole preventing weed businesses from using banks any digital weed currency is going to disappear. These businesses don’t want to use a risky digital currency; they’re doing it because right now it’s their only option. The second they can move to a far more secure federally backed and insured financial institution they will.
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### Author:  [@ubengineering](https://forums.speedlife.net/u/ubengineering)
#### Post date: [June 23, 2017, 12:58pm UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/14 "2017-06-23T12:58:19Z")
The only reason I believe people would still keep this cryptocurrency (and any) is because of the anonymity it provides for the seller. Even though the buyer is traceable, it takes a tremendous amount of effort to be found (if you’re not a computer whiz). Also, before the loophole is fixed, I feel as if more than 5 states would have to legalize recreational weed, and in the process of states doing so over time, leaves me a loophole to bounce out before this (and if) it flat lines.
EDIT: I actually decided to do some research, other than just riding the hype this currency may provide. Apparently, this coin isn’t mineable, works faster than bitcoin, and has several other advantages that I do not understand because I’m not a computer guy. I’m hoping for a pump and dump.
But @JayS when I think about why wouldn’t someone just use something proven as bitcoin, then why are there hundreds of different types of coins if they all do the same thing?
Part of me thinks this coin will be tailored specifically to the stoner industry, as each coin kind of has it’s own special purpose.
If anything I think someone can profit off this just from the hype over the next few years (With Jeff Sessions in place, I DOUBT we will see weed legalized on the federal level until this administration is out).
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### Author:  [@bing](https://forums.speedlife.net/u/bing)
#### Post date: [June 26, 2017, 2:58pm UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/15 "2017-06-26T14:58:02Z")
[ ](http://fingfx.thomsonreuters.com/gfx/rngs/BITCOIN-WRIGHT-PATENTS/01004011028/BITCOIN-WRIGHT-PATENTS.png)
and even despite that… i still have no clue how bitcoin works
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### Author:  [@ubengineering](https://forums.speedlife.net/u/ubengineering)
#### Post date: [June 26, 2017, 11:42pm UTC](https://forums.speedlife.net/t/the-new-bitcoin/274735/16 "2017-06-26T23:42:05Z")
I’ve had to watch a bunch of YouTube videos but I’m slowly starting to get an understand of digital currency. The only bad part is that transactions are irreversible. You’re at the mercy of someone else if you fuck up. Or have your shit stolen.
I have 32 character passwords on all of these sites.