The number of cryptocurrencies making their way into the financial spectrum is truly hair-raising. It’s not just that there are so many, but many of us get a real kick out of the names they’re given and what it is that they’re used for.
Some of them, such as HawaiiCoin and VikingCoin, particularly make me laugh. Can HawaiiCoin only be used in the tropics? Can you only use VikingCoin if your ancestors wore horned helmets and sung opera? Probably not, but we have our fantasies.
Some of these cryptocurrencies, however, are extremely serious in their attempts to deliver specific products and environments to users. One of them, for example, is known as Potcoin… That’s right. A cryptocurrency specifically created for users to purchase marijuana, hemp and cannabis products.
It was recently reported that the overall value of Potcoin has fallen drastically when compared to the USD. In a time when several areas are legalizing the use of pot for medical purposes and when the debate surrounding related usage continues to swell and burn, it’s a little surprising that such a drop even occurred, and yet occurred it has. Is it possible that people no longer feel marijuana does the job? Are they moving onto other things? Maybe they’ve heard alcohol is more effective…
Obviously, this isn’t the likely reason. All one has to do is look at the Bitcoin Talk forum’s page devoted to Potcoin to know that several people are still enthusiastic, but when we really get down to it, fans still appear to be in the minority. When compared to entities like Dogecoin, Darkcoin, Potcoin doesn’t rank amongst the most well-known altcoins. Furthermore, its usage is rather limited in terms of what one can purchase, and more is going to be needed to create a name for the currency in order to get a larger following started.
Seeing this, however, does make me wonder what cryptocurrencies we’ll see in the near future… I won’t be surprised if by next year we witness something called Dodocoin… Or maybe even Vegetablecoin. Who knows?