Make love, not war. Farm Potcoin, not pot.
[Tweet “Meet Bitcoin’s chilled out cousin, Potcoin. “]
What all these coins have in common is they’re all crypto currency, and they possess a level of humour. According to Patrick O’Rourke of Canada.com, “a cryptocurrency is defined as a computationally-derived mathematical currency, created to function as money, which can be exchanged for various goods and services.”
He adds, “Cryptocurrencies aren’t controlled by a single political entity and don’t have a set value. They’re often priced based on how much people are willing to pay for them. This means their floating values are often very volatile and bounce between different rates on an almost daily basis.”
Although apparently no one can acutally explain it, cryptocurrency is not disappearing any time soon. Recently Jamaica crowdfunded its bobsledding team’s presence at the Sochi Olympics with Dogecoins, and expensive items like Tesla cars have been purchased with Bitcoin.
[Tweet “Make love, not war. Farm Potcoin, not pot.”]
Now Potcoin has been created for customers to purchase Marijuana in the states of Colorado and Washington, where weed sale is legal. Although state law has made marijuana sale legal, federal law still deems it illegal, causing legitimate businesses to feel uncomfortable about getting involved with the schedule 1 substance (schedule 3 in New Zealand).
Roger Huang, a co-founder of ThoughtBasin, wrote in a TechCrunch post, “A digital age requires digital solutions. Potcoin can act as a proxy for the banking system that has abandoned marijuana dispensaries. Knowing that most of their cash reserves will be digitized, robbers may be less inclined to visit dispensaries, and a safer, more prosperous, and more credible marijuana trade will be able to benefit both growers and consumers.”
New Zealand doesn’t seem like it will follow America’s example in legalising marijuana. Seven Sharp recently begged the question in a segment dedicated to weed, “Should New Zealand legalise marijuana?” The response was mixed, but still a “no” by majority.
Disclaimer: New Zealand Entrepreneurs does not endorse Potcoin or illegal possession or use of controlled substances, such as marijuana.Tags: Bitcoin, Coinye, Cryptocurrency, Dogecoin, Marijuana, Pot, Potcoin, Weed