Will PotCoin Survive?

in cryptocurrency •  6 years ago 

7841212_orig.png


PotCoin is the digital cryptocurrency solution to the banking problem faced by $100 billion global legal cannabis industry. Currently, in United State banks not allowed to conduct business with cannabis-related companies due to the fact that on federal level cannabis is classified as Schedule I controlled substances. PotCoin acknowledged the problem and created solution by creating the first digital currency to ease transactions within the legalized cannabis industry. Current market cap for PotCoin in USD is $10,938,579 and the 24 hr. volume is $40,441.50 which suggests that the coin is relatively steady. However, considering the fact that PotCoin was the first to provide the solution to this $100 billion dollar industry the price of the coin should be much higher. I speculate the reason behind it is simple, the industry does not trust the platform that PotCoin created and still heavily relies on Bitcoin as a safe haven. I believe that as more states legalizes cannabis production and sell, the more federal government will be inclined to remove the cannabis from Schedule I classification. This will trigger mainstream banking systems to engage in commerce with cannabis-related companies and displace the cryptocurrency from the industry. 


P.S. Do you agree with my opinion? If not please leave your comments below.  

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

I would not invest in potcoin.
Soon banks will be able to accept FIAT for Marijuana.
This coin does not fill a need.
I can do the same transaction with many other cryptos

simplegame I agree with your statement! Unfortunately, PotCoin will not do good over time.

Congratulations @tkuzi001! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Do not miss the last post from @steemitboard:

Are you a DrugWars early adopter? Benvenuto in famiglia!
Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Congratulations @tkuzi001! You received a personal award!

Happy Steem Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Do not miss the last post from @steemitboard:

Downvote challenge - Add up to 3 funny badges to your board
Vote for @Steemitboard as a witness to get one more award and increased upvotes!