Mad PotCoins Illegalize
WCN
·
2015-02-01
·00:04:51
·World Crypto Network
A picture is worth a 1,000 PotCoins
http://www.reddit.com/r/potcoin/comments/2tywts/1000_potcoin_for_weed_pics_and_vids/
More Pot Taxes
http://mmjbusinessdaily.com/irs-memo-could-raise-cannabis-industrys-tax-bill-by-millions-and-millions-of-dollars/
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Summary
Here's a summary of the 2015-02-01 "Mad PotCoins Illegalize" episode:
1. Main Topics Discussed:
- Dabstockphoto.com: A new cannabis stock photo site launched by the PotCoin team, offering 1,000 PotCoins per photo.
- IRS Tax Issues: The IRS is disqualifying small business deductions for pot shops due to Section 280E, potentially costing dispensaries millions.
- Cloud Mining Failure: Several cloud mining operations have shut down due to low Bitcoin prices and suspected Ponzi schemes.
- Bitcoin Mining Difficulty & Price: Bitcoin mining difficulty has stabilized, and miners are struggling due to low prices, leading to hardware manufacturers scaling back production.
2. Key Quotes:
- "A picture is worth a thousand words, but if it's a picture of pot, it could be worth a thousand pot coins."
- "I really want to start an anti-pot campaign to make it illegal again."
- "One step forward, two steps back." (Reddit user potcoiner420)
3. People Mentioned:
- Nile (from the PotCoin team)
- potcoiner420 (Reddit user)
- An anonymous lawyer on Reddit
4. Bitcoin Price:
- The episode mentions that the low price of Bitcoin is impacting cloud mining operations and forcing miners to convert to Fiat at a loss. No specific price point is given.
People mentioned