Potcoin Sends Rodman to North Korea
Dennis Rodman’s latest trip to North Korea was sponsored by the cryptocurrency “Potcoin”. Potcoin bills itself as “banking for the marijuana industry” and appears to have fully sponsored Rodman’s trip. Rodman engages in what he calls “basketball diplomacy” during his trips to NOKO. Last month (June 13, 2017) Rodman boarded an airplane for Pyongyang International Airport sporting Potcoin gear and CNN was there to cover it.
Around mid-last month (June 13, 2017 precisely) Dennis Rodman, the famous basketball player was seen wearing a Potcoin T-shirt and jet-setting to NOKO. As Potcoin’s website itself pointed out Dennis Rodman’s latest trip to North Korea is sponsored by Potcoin. Here’s Rodman decked out in Potcoin gear.
So is Potcoin the next big thing?
The whole Potcoin scene seems gimmicky, toxic, and potentially sinister given Rodman is a big NOKO fan (and they are just wonderful right?). Regardless of geopolitics one cannot deny Potcoin has appreciated considerably in the last year. Stunts like this will assist Potcoin’s growth, even if they are vaguely supportive of a dangerous regime.
It is up to investors to decide if this cryptocurrency really has a future. It seems to shooting to be a niche cryptocurrency but one must ask why won’t people simply use Ethereum, Litecoin, or Bitcoin? It insults the intelligence a bit to think the cryptocurrency has to be named for its use. Any other cryptocurrency could purchase weed as easily. The pitch seems weak in the long run but likely it will continue to appreciate in the short-term (1-2 years) thanks to Rodman and the catchy/accessible name “Potcoin”.
Potcoin is one to watch but be cautious, Rodman and North Korea just might be involved a little too much for my taste.
This is yet another big news event for cryptocurrency which has been covered by the mainstream media (CNNMoney, others). The significance of this is increasing name recognition for not just Potcoin but for cryptocurrency in general. A search of Google News reveals many serious regional and national outlets have covered this event. CNNMoney had an entire segment dedicated to Rodman’s recent trip and his unusual sponsor was a focus of the article too. We can see cryptocurrencies gaining traction in mainstream news coverage. Even though this is a staged stunt it is important coverage for the industry.
Check out the CNNMoney coverage here.