This episode, recorded on December 7, 2014, covers the struggles of Potcoin while discussing broader trends in cryptocurrency adoption, regulatory shifts, and the impact of legalization on illicit markets.
1) Main Topics Discussed
* Potcoin Development: Despite its price decline (to the mid-400 Satoshi level), the Potcoin team remains committed, evidenced by a developer getting a permanent tattoo. A new WordPress plugin from gourl.io was highlighted for easy altcoin acceptance.
* The Cartel Impact: Legalization in the US is severely damaging the Mexican drug cartels, causing a massive drop in pot revenue and forcing them to pivot to other drugs like cocaine and heroin.
* Coinbase and Banking: Coinbase is moving toward creating "USD wallets," mimicking bank accounts. While transfers are still slow (requiring 2-3 business days), the speaker suggests this could be a model for future banking, though regulatory risk remains high.
* Mining Difficulty: The decline in the Mexican drug trade is compared to Bitcoin mining, noting that difficulty and net hash rate are dropping as home miners lose interest.
2) Key Quotes
* "If you have a page and want to easily integrate pay per download, pay per video view, or pay per page access, get the free plugin from gourl." (Highlighting utility)
* "The Mexican drug cartels say no." (Referring to the failure of legalization)
* "It's not the concept of banks that Bitcoiners hate, it's the current system, policies, and those in charge." (Addressing regulatory fears)
3) People Mentioned
* Mr. Jones (A behind-the-scenes Potcoin developer)
* gourl.io (Developer of the WordPress plugin)
4) Bitcoin Price
* No specific Bitcoin price was mentioned.