This episode provides a mixed update on the cryptocurrency and cannabis worlds, focusing heavily on the increasing mainstream adoption of altcoins and the growing legitimacy of medicinal cannabis.
Summary:
The speaker begins by announcing the deletion of the Mad Potcoins Facebook page, stating that "Facebook sucks." The discussion then shifts to the cannabis industry, noting that 19,000 red card holders dropped off the Colorado medical registry, a trend attributed to people no longer needing to lie to the state and the increased legitimacy of the market.
The main focus, however, is on payments. PayPal announced it will integrate Bitcoin payments, but the biggest news was the inclusion of major altcoins like Litecoin and DoggyCoin. This development raised questions about whether altcoin adoption might overshadow or slow general Bitcoin adoption. Furthermore, Japan is accelerating its adoption, with GMO Payments Gateway set to process payments for 48,000 merchants in Bitcoin by November. The episode concludes with a promotion for the Bitcoin Seed Store, which accepts multiple cryptocurrencies.
1) Main topics discussed:
* Potcoin/Cannabis Industry: The decline of the medical registry in Colorado, suggesting increased legitimacy and freedom for recreational use.
* Altcoin Adoption: PayPal integrating not only Bitcoin but also major altcoins (Litecoin, DoggyCoin) into its merchant services.
* Global Cryptocurrency Adoption: Japan's commitment to integrating Bitcoin payments across thousands of merchants.
* Web Presence: The speaker's decision to abandon the Mad Potcoins Facebook page.
2) Key quotes:
* "Facebook sucks, and it keeps sucking more and more."
* "PayPal has been dropping hints about Bitcoin for a few months, but now the biggest news is that the two most successful altcoins will also be coming to a PayPal merchant near you."
* "I think this is a huge step to bringing more legitimacy to the medical side."
3) People mentioned:
* Steve Buregard (GoCoin CEO)
* PayPal, BitPay, Coinbase, GoCoin, GMO Payments Gateway
4) Bitcoin price if mentioned:
* No specific Bitcoin price is mentioned. Litecoin is noted as "just lives in the 10 to 11 millibit range."