Mad PotCoins M.E.D. Position

Here's a summary of the WCN episode "Mad PotCoins M.E.D. Position" from February 8, 2015:

1. Main Topics Discussed:

Colorado MED's Position on Digital Currency: The episode focuses on a letter sent to the Colorado Marijuana Enforcement Division (MED) seeking clarification on whether licensed marijuana businesses can accept digital currencies like Potcoin.
Regulatory Burden on Edible Producers: New regulations in Colorado are significantly impacting edible producers, requiring costly upgrades and compliance measures.
Native American Tribes and Marijuana: Discussion on the challenges faced by Native American tribes attempting to enter the marijuana business and the vague legal guidance they receive.
Bitcoin Network Growth Despite Price Decline: Despite a declining price, the Bitcoin network is experiencing significant growth in trading volume, active wallets, and venture capital funding.

2. Key Quotes:

"It's been a tremendous amount of money for the infrastructure to put in place… We probably dropped close to about 45,000 on the project." - Jamie Lewis, CEO of Infused Products Company, Mountain Medicine.
"Legal means more ways for the state to screw you." - Commentary on the increased regulations following legalization.
"If Native American tribes ever band together to go to war against the US, I'll be with them 100%." - Strong statement regarding the treatment of Native American tribes.

3. People Mentioned:

4. Bitcoin Price:

The episode mentions the Bitcoin market cap peaked at around $13 billion and had fallen to approximately $3 billion.

Summary