Potcoin: An Excellent Case of Knowing Your Audience
On the surface, Potcoin isn't the most exciting cryptocurrency in the world. It doesn't reach the almost bipolar highs and lows of Bitcoin. It's perceived as being the “funny money” of the marijuana industry. Believe it or not, though, Potcoin's ability to fill the marijuana niche is actually one of its strengths. This is an industry that has to struggle with the fact that it has a Controlled Substances Act Schedule I classification, placing it alongside heroin, LSD, and ecstasy in terms of federal enforcement. Some states have decriminalized marijuana because (let's be real) they prefer to collect taxes rather than spend money on enforcing federal law, but there's still the fact that users of marijuana and its derivatives could still be thrown in jail if federal law enforcement agencies catch up with them. So it's understandable that the marijuana industry might be willing to use a cryptocurrency that could preserve the privacy of its customers.
What makes Potcoin more successful than its obvious competitors, Hempcoin and CannabisCoin, though? Potcoin is on CoinPayments. A quick glance at CoinPayments' directly reveals that you can buy e-cigarettes, cannabis products, coffee, raw honey, survival supplies, VPN services, and web hosting using Potcoin. You can even buy my writing services for Potcoin and several other cryptocurrencies. Hempcoin and CannabisCoin don't seem to have that. What made Potcoin so successful while its competition fell flat on it face?
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