Potcoin and Dennis Rodman: A Dynamic Duo
Dragon again here with my second article for Whale Reports –https://twitter.com/thedrag0n
Celebrity involvement in cryptocurrency is something we began to heavily see throughout 2017 with influencers, and promoters spreading like wild fire. These celebrity involvements are not always incredibly negative to the ecosystem, because generally they also bring a lot of attention to the space. Celebrity involvements with cryptocurrencies also does not always have malicious intendent, as we have seen Dennis Rodman attempt to promote world peace through using the platform provided to him by Potcoin. Dennis Rodman has had an amazing amount of influence in world politics, and cryptocurrency, a very uncommon grouping. Dennis Rodman has been on multiple sponsored trips to North Korean related peace missions, sponsored by Potcoin. If you have been involved with cryptocurrency for more than a couple months, it is likely you are familiar with these stories. Throughout this article I am going to give a further breakdown of who Dennis Rodman is, what Potcoin is, and the impact of these peace meetings that Dennis Rodman has attended through the gracious Potcoin sponsorships.
Dennis Rodman is a 57 year old retired NBA hall of famer. Rodman was selected 27thoverall in the second round of the NBA draft in 1986, and concluded his NBA career in 2006 with having played for over 4 different teams. His controversial demeanor on the court carried over to his retired life, causing a stir in the world of cryptocurrency and world politics.
Potcoin is aiming to be a cryptographic solution for the cannabis industry, fostering connected payment across it via blockchain technology and cryptocurrency. The legal marijuana industry is an industry that is valuated over $100 billion dollars, and Potcoin is the first digital currently created to facilitate legalized marijuana transactions. Potcoin is listed on Bittrex, Poloniex, and multiple other smaller exchanges. With a current market cap of around $6.5 million Potcoin sits ranked #427 out of #1800 on CoinMarketCap. The current price of Potcoin at the time of writing this article is $0.0288 USD or 0.00000459 BTC.
Potcoin sponsored a mission for Dennis Rodman around June 13th, 2017. Dennis Rodman stated on Potcoin’s website at the time that “I’m really looking forward to spending time with the wonderful people of North Korea” and Rodman went on to add that he was looking forward to “visiting with the Supreme Leader, Kim Jong Un.” Through all dialog I could find about this initial meeting Rodman was very concerned with simply spreading peace. This meeting came after North Korea released an American Detainee, a 22 year old university student, back to his family. Dennis Rodman tweeted about the journey here: https://twitter.com/dennisrodman/status/874486775124819968in a photo where he captions it “I will discuss my mission upon my return to the USA.” I cannot find Rodman’s official statement from his return, but it is clear that his journey went well as he continued talks of peace abroad with Leader Kim Jung Un.
Later in 2017 Potcoin and Dennis Rodman teamed up again due to Nuclear threats and rising tensions between the USA and North Korea. This time Potcoin sent Dennis Rodman to the US territory of Guam to help ease building nuclear tensions in the region. It was reported that throughout the duration of Rodman’s visit he spoke to people in the town, the military, and town leaders to help try to promote peace, and ease overall tensions. Rodman again was very thankful about the support that Potcoin provided him and the world, as they are aiding the push for peace.
The most recent meeting happened again around June 10th, 2018 during the historical meeting of Kim Jung Un and President Donald Trump. His tweet from this meeting seen here: https://twitter.com/dennisrodman/status/1005094659427880960as Rodman was able to get a lot of coverage due to the hype surrounding this meeting. See journalists tweets about Rodman here https://twitter.com/ianbremmer/status/1006246185903026176and here https://twitter.com/BenjySarlin/status/1006348697704099841but the matter of the fact is Rodman got a lot of eyes and impressions on him for this most recent meeting in North Korea, sponsored by Potcoin. Rodman actually got coverage time on CNN, which you can see a screenshot of in one of the journalists tweets above. This national coverage is great for cryptocurrency and the space as a whole, bringing attention, eyes, and ultimately more people to the space, which helps the overall ecosystem.
In terms of “pumping” the price due to the meetings, this has not been overly affective. While I went through and looked at the dates leading up to the meetings, there was northing overly notable about the trends. Volume and price builds slowly into the events as hype builds, and there is a small sell-off afterwards, but ultimately Potcoin has followed the market cycle for the most part, seeing an increase in price throughout 2017 with a decrease so far through the bear market of 2018, finding a price “bottom” around 20 cents. Overall there has not been dramatic price action due to the meetings.
Overall the attention that Potcoin and Dennis Rodman bring to the cryptocurrency ecosystem is a positive impact. Not only are the overall ideology of the missions beneficial to world peace, but Dennis Rodman gets news coverage to promote peace, and promote Potcoin, getting more global eyes interested in cryptocurrency and the potential power of blockchain technology. Potcoin is beginning to be accepts online, and at brick & mortar shops as a form of payment for legal cannabis products. This adoption is aided by Dennis Rodman having an outlet to promote the platform in a positive, and non destructive light. Seeing a beneficial celebrity interaction between the cryptocurrency ecosystem and meaningful promotion is rare to come by, but Dennis Rodman and the Potcoin team have done a good job being ethical with practices throughout the process, as well as using the platform to promote world peace and attempt to make a beneficial change in the world.
My twitter: https://twitter.com/thedrag0n
Dennis Rodman: https://twitter.com/dennisrodman