I just started looking at Potcoin. Being in Colorado, I'm hearing much about the problems the state legal distributorships are having storing their money because they cannot get bank accounts (due to their association the the federal government). Everything is cash transactions (no bank - no credit card processing). This causes a security issue for customers (needing to carry large amounts of cash or facing high ATM fees at the store) and the merchants (large sums of cash with no where to deposit them makes them a target for crime). On top of that, when they need to pay state taxes, they have to take tens of thousands of dollars in $20s to the local tax office who is ill equipped to handle that amount of cash (counting, storing, securing, etc.) So to add insult to injury, they now say if you pay the taxes in cash they are adding another 10% fee on top.
Potcoin is the first alt I see that is targeting a specific market that has a real need for the benefits of cryptocurrency - safe, fast, secure, decentralized. They have a substantial market that is growing (no pun intended) as more states legalize or allow medicinal use. There is a professional organization actively promoting the coin's adoption (Potcoin Systems) and they seem to have good community and momentum.
But it could just go up in smoke. (ok, that time I intended it) As with all coins, don't invest anything you can't afford to lose. Be prudent.
