Potcoin & legal cannabis in Colorado, Nevada & California – Why cryptocurrency isn't a crime

welcome to crypto talk the show that takes the magic and mystery out of crypto currencies and amateur investing I'm your host David Haye and in today's episode we'll be exclusively looking at crypto currencies that now serve the legal marijuana industry which is booming in states like Colorado Nevada and California I'll go over some of my personal experiences with these coins and I'll even talk about maybe what the future is going to hold over the next couple years as more and more states choose to legalize medical and recreational use of marijuana so stay tuned we'll be right back I wanted to make an episode that was going to be entirely dedicated to this new Green Rush that's happening in states like Colorado Nevada and California that have legalized medical and recreational use of marijuana and I also want to go over a little bit about what's happening politically and with the ways that the federal government's are fighting the state governments and what that means for the cryptocurrency space and what may be potential is out there in the future so in a lot of videos I have to do a lot of research before I make them I have to find out all the facts but for me this particular topic is easy because I've been involved in this industry for a very long time the reason that I'm able to stay at home and make videos about cryptocurrencies all day is because I was able to successfully sell my business in 2015 and my business was in advertising and printing and I had two types of customers that really made my business successful the first were banks and financial institutions I did a lot of rebranding for Washington Mutual which later became Chase and the second was the medical marijuana industry and so I would say that in seven years I would have done the menu boards graphics posters for at least 200 locations and during that time I got to meet the dispensary owners I got to talk to them a lot about their business and I really got a much better understanding of what's going on in this new industry one of the most frustrating parts that I found working in the medical marijuana industry was that about ten percent of my business was just redoing work for people that had been raided by the FBI and so that started to get everybody in the industry nervous because on a state level medical marijuana was legal but the feds hadn't caught up and every time a mayor would change or every time we get a change in the political climate they would come through and they would say drug reform and war on drugs and they would sweep through and then they would wipe out these businesses and whatever they were holding in product or whatever they were holding in cash they would get completely seized and then they would have to fight in the courts to get it back and a lot of times they just wouldn't it'll just end in a stalemate so you can look through San Diego Court history and you can see the different court cases that have gone on and you can see how many lives have been completely destroyed because of the government's inability to effectively communicate with each other so in recent months California and Nevada have both chosen to legalize recreational use of marijuana and it's obvious that this is going to become a billion-dollar industry it's been humongously successful in Colorado it's been taxed as well so a lot of that tax revenue is solving a lot of Colorado's budgets problems including making better schools including drug education programs and really making a much better use of the money and making this what used to be a black market out in the open much safer for everybody much easier for everyone and just generally helping the community there is no argument that this billion dollar industry is exploding and there's now this huge problem with the sale of marijuana so I'm in Las Vegas right now and right across the street there's a recreational marijuana dispensary and you can go in and buy that without any type of you know pre-check or medical condition and it's just yours like you're buying a beer what's interesting though is that if that dispensary chooses to deposit their money in a bank the banks will fall under that federal jurisdiction so if laws change or the environment changes you know they have the potential for that money to be seized and this isn't like a what if you know I can't imagine this happening weekly there are battles between normal which is the advocate group for legalizing marijuana and the federal government there are weekly battles where and examples where they're going in and they're taking the assets of these legitimate business owners and these people that are trying to run a real business so we can see that a cryptocurrency is really useful in this space because it would allow these dispensary owners to take the money and it would be away from the banks it would be away from the government wouldn't have the ability to come in and seize it from the individuals like they are right now but when I talk to a lot of dispensary owners about cryptocurrencies it's not that they don't want it it's that they don't understand the technology period and if we're having an honest and frank discussion only 0.01% of people use crypto currencies and it's a little bit like the internet was before it got popular I remember in 1999 registering my first domain and there was a screen that came up and you could punch him pretty much any word and it said the domain was available I remember looking at get your gear calm and in 1999 that was a domain that was available for nine dollars and I was 17 at the time and I can't afford that and it's funny because I see those same conditions happening right now in the cryptocurrency space where we know the technology is going to work we know that this is going to be the way things are being done in the future and now that we have some adapters and we're in this 1% of this point 1% we're waiting for everybody else to catch up and so when we talk about the technical details of a coin the fundamentals for example like pop coin being a light coin clown that works on this type of script I think we start to basically ignore 99% of the people out there that this coin could service and so by being too technical that's great for the inner circle of the cryptocurrency people but for everything else I think it's really the marketing in the language that we're using that needs to change so I really like pop coin because it wasn't pre mined it uses was based on like coin which is a proven working cryptocurrency and they've been trying to market it so they've had some things with Snoop Dogg they've done a Dennis Rodman goes to North Korea and they're basically just trying to market themselves as this cryptocurrency for marijuana and I think that this is desperately needed in this industry so I think it would work if it was popcorn cush coin whatever it is I think that one of those really needs to take a foothold in the industry and once it does it'll really see exponential growth I also think that aetherium all these other cryptocurrencies would work just as well technically but by making a cryptocurrency that is just dedicated to this industry I feel like it's going to be easier to attract non-technical users I feel like they're gonna be able to focus on the features that they need to rather than like a large platform like aetherium that's sort of just like a catch-all for for everything but for this to happen we obviously need more adoption of the technology if you look at pop coins website they have some use cases now where they're coming out with that as more and more people become aware of the potential and as more customers start to join it'll become more mainstream and that's when we'll start seeing the growth when I talk to people about this a few people have said what happens if the federal government legalizes marijuana and I guess that's a real possibility but I in my experience and watching this 10 year battle in San Diego between medical marijuana and the state I can't possibly believe that on a federal level we'll be able to get to any type of consensus in 10 or even 20 years it's taken us so long as a country to even agree on very basic things like education health care civil liberties and rights that this is so far away from those basics and you look at who the president is and you think well we're so far away from a federal consensus that sure that could be a really big problem and if this industry became legal on a federal level this coin could all this cryptocurrency might not need to exist I'm definitely willing to think I'm definitely willing to explore that as a possibility but at the same time everything that I've read everything that I know from experience leads me to believe that that's just not possible because this is the first video I'm making about this topic I didn't know whether a lot of people would be interested in not not I obviously know a lot of dispensary owners here in California and Nevada who would love to talk on this topic I'd like to open up a general public discussion I'd like to hear the types of questions that you have and then I would like to bring in these experts and these people that are actually working in the field so we can open up a real discussion between some serious people that are interested in cryptocurrency and some people that are just you know running the day-to-day business in the legal met the legal and medical marijuana industries in these different states so guys I look forward to your comments and until the next episode I'll see you later follow me every time somebody like one of my videos I wanted these plans every time somebody subscribe to my channel I give them the trees every time somebody shares a video on Facebook so if you like gardening dogs America or cryptocurrency you should support this channel [Applause] you

38 thoughts on “Potcoin & legal cannabis in Colorado, Nevada & California – Why cryptocurrency isn't a crime”

  1. forget Potcoin , it's going to be Dash + ALT36.com , you know that David ! https://www.youtube.com/watch?v=yVtfJVmIFlw

  2. Earn unlimited Potcoin from over 100 POT faucets every minutes. Go to http://bitcoinfaucets.info/ and select Potcoin at the top of the faucet list!

  3. I am brand new to crypto industry.  I have no trust in it until, now when I realize the importance it has in the marijuana industry with the Federal problems.  You are exactly right, people don't know much about this.  Thanks for the input.  I'd love to listen to a group discussion.  I'm very interested in this stock after finding out it even exists.

  4. David- did you ever follow up with your contacts in the dispensary industry? I've scoured the internet but I can't seem to find any use cases. This coin has been around since 2014, the company seems to do a good job of facilitating uptake via their website and yet it seems like it's not actually used for it's intended purpose. Would be great to see a follow up to this with some investigative journalism on what's happening on the ground in California, Nevada etc. Keep up the good work!

  5. DONATE HELP MAKE LEGAL DONATE LITECOIN LRVMCr94G7ZJzWULHSns3uWnBnJ79etHu5 ETH 0x16f9852ff8b755e1405b16baea7f92571e919d3a

  6. Two coins i got into last week both have had great growth and have low market cap and daily use 10x potential quick!!! Research both!!!
    PetroDollar (XPD) Venezuela's new crypto currency backed by oil!
    KushCoin (KUSH )
    Made for the legal marijuana industry low marketcap lots of room to grow!

  7. David First Thank you for the videos you give great info.

    My 1st questions about this coin the is in Naming of it "POT". With All the negative feelings to this Durg wont this hurt the coin in the long run? My 2nd question would be long with the reason for the coin and Federal gov not legalizing. Basing the coin on the lItecoin model do you think that could bring some security and privacy conerns. I understand that this market place could turly be helped by this coin but wouldn't make more better to use something like Verge or Monero ture Privacy coins.

  8. I think the biggest problem with crypto currency is the specialization of each coin it needs to be more general make it more useable in everyday situations and more accessible to the general public

  9. Why do they need a specific coin, can't these dispensers etc. use bitcoin ethereum etc.? Why do they need a specific coin? I don't buy bread with breadcoin

  10. I just don't understand why they need their own curency. More people understand the BitCoin brand than potcoin or even LiteCoin.

    Plus, potheads are a bit paranoid. I think naming this after a current schedule 1 narcotic is going to throw red flags in their minds.

  11. I have a legitimate question, anyone, please let me know… First off I'm in Ontario, Canada. Now, the Federal government here will legalize marijuana by or on July 1st, 2018. Thats legalizing marijuana across Canada. Does that mean Potcoin will be useless/no need for it? I mean, David Hay, you did mention that you dont believe the Federal government there in the States will ever legalize marijuana across the country… is that the only reason potcoin would be needed?? Im asking this because I was looking at investing in potcoin, but with the new legislation of legalizing marijuana here in Canada…I dont really see a future in potcoin. Please correct me if Im wrong. Thanks!!

  12. If the feds legalize marijuana, after… Jeff… Effing… Sessions… fades away, it will just take longer for marijuana coins to increase in value. Because Bitcoin is going to break all the fiat bubbles of the world over the next ten to twenty years.

  13. Tnx for taking your time to speak about the industry and combine these two fringe cultures still: crypto and cannabis. Would be interesting to open a platform and discussion… hope my comment won’t be overlooked, as I’m late here to watch.

    My immediate questions after watching is if you could comment on Paragon Coin or on Dash entering the industry.

    Tnx for taking the time David! 🙂

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