Hello everyone! I am fairly new to PotCoin and Bitcoin. Recent news has me asking a few questions... I am a merchant looking into accepting PotCoin within my 3 dispensaries I own. I have had many 'cash' problems and I am tired of dealing with the banks. I read several articles online over the past week and have begun doing a lot of research on PotCoin.
Has there been any official PotCoin or CryptoRush statements regarding the PotCoin that was stolen? About 7.5% of the current circulated PotCoin were involved in this hack I think this needs to be addressed by someone...
Part of my research has been figuring out the stability of the coin...
* 18+million coins have been mined by a group called scryptominers who are notorious for just dumping coins
* 4+ million coins were hacked
As a merchant looking at PotCoin for future I see 40%+ of the current PotCoins as what you guys call 'dumpable' and is currently apparently being seen within the market... What kind of advantage is there to using PotCoin vs. BitCoin? How can there be ANY stability if 40%+ of the market is just waiting to dump their coins?
PLEASE correct me if I am wrong I am just trying to understand how PotCoin can be beneficial to my businesses under such volatility.
Has there been any official PotCoin or CryptoRush statements regarding the PotCoin that was stolen? About 7.5% of the current circulated PotCoin were involved in this hack I think this needs to be addressed by someone...
Part of my research has been figuring out the stability of the coin...
* 18+million coins have been mined by a group called scryptominers who are notorious for just dumping coins
* 4+ million coins were hacked
As a merchant looking at PotCoin for future I see 40%+ of the current PotCoins as what you guys call 'dumpable' and is currently apparently being seen within the market... What kind of advantage is there to using PotCoin vs. BitCoin? How can there be ANY stability if 40%+ of the market is just waiting to dump their coins?
PLEASE correct me if I am wrong I am just trying to understand how PotCoin can be beneficial to my businesses under such volatility.
ScryptoMiners is not really a group, but a mining pool. The pool itself does not dump anything, but some of the early users who mine there have dumped coins.
"Dumping" isn't necessarily bad. If there is demand for the coins and people are buying them at market price then it doesn't crash, the coins just get re-distributed.
Its also fairly early in this coin's life. Most coins suffer pretty extreme volatility early in their lives. Despite that Potcoin has surprisingly held its value of late. People come in and complain about the price a lot but honestly anything about 1000 Satoshi lands Potcoin inside the top 50 coins in terms of its market cap: coinmarketcap.com
Not bad for a coin less than 3 months old. Also, the price has actually been fairly stable since the initial bubble.
You can see there was a dip in the last week, probably due to the recent hack of cryptorush, but its rebounding well enough. For a coin barely 2 months old, its been pretty stable.
The developers here are very active. You should also check out the Reddit thread because they are active over there as well and there is a lot more info: www.reddit.com/r/potcoin
You should PM, email or even call the developers. I'm serious they will answer you. If you have questions or suggestions they will want to work with you.