, excluding marijuana,
What? I thought potcoin was supposed to be the solution for dispensaries banking problems.
Are you saying potcoin isn't the solution to the banking problem?
Why is the dispensary not accepting potcoin for weed?
Is it because you might be found guilty of money laundering?
Two more entries into the "marijuana banking" biz:
http://www.marketwatch.com/story/gold-coast-announces-merchant-bank-services-to-the-marijuana-industry-with-the-launch-of-mj-merchant-2014-05-22?reflink=MW_news_stmp
http://www.knpr.org/son/archive/detail2.cfm?SegmentID=11210
It's the choice of the dispensary whether or not to accept cryptocurrency for legalized marijuana, and since both are very new they have decided to spend more time evaluating the option. We are working closely with the industry to ensure complete compliance with the laws now and in the future. Again, please have patience. We are working within two relatively new industries where laws and regulations are adapting and evolving and a cautious approach is necessary both for PotCoin and the companies we serve.
Regards,
Russell Thomas
What portion of their business is non-marijuana? I can't imagine it's more than 3% of their total sales.
If you only knew the markup on accessories and paraphernalia. Can't really smoke without those can yah?
Yea but in Colorado there are many many glass shops. That's not what the dispensary would be selling, mostly t-shirts and soda I imagine. Point is the non-marijuana portion of the business at any dispensary is negligible... maybe 3% of total sales? Then what portion are we thinking the potcoin users would be purchasing? 1/1000th of that 3%?
What is that 0.00003% of sales total maximum potential?
Was that really worth a press release? That's kind of like putting out a press release because you found a penny on the ground and it was face up.
FUD. Anybody can make up numbers. Your argument might be valid but as long as you're just spit balling numbers with no real facts about anything, you could just as likely be wrong. Nobody will take you seriously otherwise. Especially considering you led off your statement by telling us what a dispensary should or should not sell. Do you own one? I'm not sure you're qualified enough to tell us what they should be selling, or how much they make.
Secondly...The coin is still 4 months old. 4 months. If you told me 4 months ago that a dispensary would be accepting Potcoin, with ATMs physically located inside the dispensary I would have invested a lot more. People don't always agree with the direction of this coin, but I don't think anybody would dispute there is progress being made. People forget that crypto currency in general is still a complete mystery to most of the people in the world. We are the 1% of the population who have this new technology figured out. Most people are still struggling to figure out Bitcoin, let alone Potcoin.