I think there is good reason to freak out a bit.
Right now this coin is on the edge...
I don't think so. Potcoin looks to be in the lead when it comes to partnering with the legal cannabis trade, that hasn't changed in the last few days. I get tired of seeing posters act like they want developers to act like counselors too and post here every few hours just to re-assure people, it's kinda sad
For the record ... I have been investing/trading in virtually every market, Stock, commodity, Futures, FOREX... for over 20 years. I also own my own software/web development company that specializes in writing algorithms that trade the aforementioned markets. A rookie I am not. This is not about needing emotional support; for me at least, its not about coin price. In fact if you notice in all my references and posts ... I have never mentioned price.
So please be careful parsing my statements and choosing what to hear. While I hope POT still has a future and a bright future, my concerns are not about price in the least. As a result I still own a chunk (and will continue to hold until it becomes valuable or goes to zero). My points are related to clarity, communication and adoption. The folks running POT are not very transparent and forth coming with information when questions are asked and are not very responsive to criticism or even suggestion.
So the question is ... how is POT being run?
There are two base models I see that POT (or any project like this) can be run, and successfully run ...
1) As a business -- all control, PR and effort is dictated by the people in charge of POT. This can work if the pockets are deep enough to support developing , marketing and PR efforts. In the end its just software and there are countless examples of how to run a software company. Think Microsoft.
2) Partner with the community -- final decisions are made by the controlling interest but are made based on a solid clear communication and feedback from the community of supporters and users. Think Wordpress, or virtually any strong open source project.
I work under the assumption that POT wants to partner with and build the community. And I choose to become part of the community dialogue and try to offer criticism as well as solutions. No one has all the right answers, however, with a strong community, POT stands a much better chance at widespread success.
If in reality, POT is trying to operate under the "as a business" model ... then I will personally rethink my stance. But we have been given no indication of how POT is operating. Again ... communication and transparency.
1st. Community is first always, this coin was built on a good fun loving community and we want to continue to build a positive relationship with everyone.
We do want the everyone to participate how they can and offer help by creating tools for the community and if we can help out, let us know via email.
2nd. We want to be more transparent and have the communities input when making choices that will effect both miners and regular users. Since the community seems to be split on the Halving of the coin, i think its fair to do a POLL that will go out to the WHOLE community, all social networks and everyone can get a chance to voice their opinion. Our main concern was that the coin was going to be finish mining in a little more than 1 year and that we wanted to extend the mining life of the coin since we are thinking long term.
3rd We believe adoptions is the number 1 priority and we have been working on it by:
a. Potcoin king Calling dispensaries for the last 2 months and entering all the leads into our CRM and we are getting new people in montreal to call also.
b. Going to denver for Cannabis cup and 4.20 to meet as many companies as possible and promote potcoin.
c. Creating strategic partnerships with the TOP dispensaries in Colorado - We Met with River rock - medicine man - live well. We are now working with river rock to place our ATM's and making a marketing plan to give away 100,000 via paper wallets and cards. We believe they will be leaders in their industry and that others will follow once they see River Rock accepting Potcoins and giving them away to clients.
d. We have a potcoin team member living in named Russell Denver that will be working with dispensaries to help them integrate potcoin into their daily transactions.
4th. We are all working together to make this coin a success, but everyone needs to their part in helping out and mainly staying positive even when things are not the best. With anything in life there are ups and downs but we just need to keep working together and getting the word of potcoin out. I'm all for constructive criticisms and listening to the community, deanpresse66 has some very good point and this is the type or response we like to get.
5th. Traveling for 1 month between NYC and Denver caused me to focus on what was at hand and meetings with dispensaries and not being able to tend to the online community as much as before and im very sorry for the lack of communication while we where traveling in the USA. I have since gotten a DENVER CELL phone with A data plan allowing me to work and communicate better while traveling.
6th. We understand that we need to communicate more efficiently and we have decided to add an OFFICIAL BLOG on the potcoin website that we will post all news from now on. From there we will go to all the social media outlets and post the link to the blog with our official statements. We are also looking at doing this weekly so that everyone knows that Potcoin Update News comes out once week on FRIDAYS.
7th. We know we have lots of work ahead and we have lots of great ideas and projects in the pipeline but we need to focus on what communities needs are now. We want to release a timeline of things we would like to do and ideas and get feedback from the community and what they feel is important so that we can make a list of priorities chosen by everyone.
8th. The potcoin network is releasing coins at rate of approx 600k to 900k and since jan 21 st we have created over 100 million coins and there is only approx 1 year left of mining left. We feel that we need to extend the life of the coin, but we do not want to extend the block time since this will be used for daily transactions that need to be confirmed quickly. We are open to suggestions and we would like to hear your solutions to extended the life of mining the coin.
9th. Coinwarz lists Potcoin as profitable and that means multipools will still be wanting to mine our coins then dumping them.. not the best for the price
We are also concerned about ASIC's coming out and the recent time warp attack on the KGW, we would also like to hear about your ideas and solutions from the community members.
10th. The best way to contact the Potcoin team is to email us at dev@potcoin.info or smokemon@potcoin.info or call 1.844.Pot.Coin and if i dont pick up leave a message and i will get an email with your voice mail. Please give 24 - 48 hours for a response.
Sincerely Smokemon and The Potcoin Team
Great Response ... Thank You for outlining things