Crypto Gloss

Potcoin

—

title: “PotCoin”

slug: “potcoin”

type: “coin”

description: “PotCoin (POT) is a cryptocurrency launched in January 2014 specifically designed as a payment solution for the legal cannabis industry — targeting dispensaries and consumers in US states where marijuana was being legalized, and achieving mainstream attention when Dennis Rodman wore PotCoin branding during his 2017 North Korea visit.”

tags: [potcoin, pot, cannabis-crypto, marijuana-cryptocurrency, dennis-rodman, altcoin, 2014-altcoin, litecoin-fork, payment-coin]

related_coins: [“litecoin”, “dogecoin”]

PotCoin (POT) is a cryptocurrency launched in January 2014 with the stated purpose of serving as a payment infrastructure for the legal cannabis industry, targeting dispensaries and consumers in US states where marijuana was being legalized — and famously achieving mainstream name recognition when former NBA star Dennis Rodman wore a PotCoin t-shirt during his widely-covered 2017 North Korea trip. Despite a genuine use case and outsized publicity, PotCoin never achieved meaningful adoption among cannabis businesses.

The Cannabis Banking Problem

When PotCoin launched, cannabis legalization was in its early stages in states like Colorado and Washington. Dispensaries faced a genuine dilemma: federal law still classified marijuana as Schedule I, banks feared losing their federal banking licenses by serving cannabis businesses, and most dispensaries operated entirely in cash — creating theft risk and accounting complications.

PotCoin positioned itself as a crypto-native solution — a peer-to-peer payment network that dispensaries could accept without relying on traditional financial infrastructure. The concept was legitimate, though adoption proved limited.

Technical Foundation

PotCoin was originally a Litecoin fork that later migrated to Proof of Stake consensus. The total supply of 420,000,000 POT was a deliberate reference to cannabis culture (420). Block times and other parameters were similar to other Litecoin-derivative coins of the era.

The Dennis Rodman Moment

In June 2017, former NBA star Dennis Rodman returned to Pyongyang wearing a PotCoin t-shirt prominently displayed during media coverage. Rodman stated that PotCoin had sponsored his trip. The result was massive, if fleeting, mainstream media coverage — CNN, Fox News, and major outlets mentioned PotCoin by name, and POT price spiked significantly. The story became one of the most unusual crypto marketing moments of 2017.

Whether the sponsorship was a legitimate partnership or a guerrilla marketing stunt was debated, but the result was global brand recognition for an altcoin that would otherwise have remained entirely obscure.

Why Adoption Failed

Despite the legitimate use case, fundamental adoption by cannabis businesses remained minimal:

  • The cannabis industry’s banking situation improved partially as more credit unions began accepting cannabis clients
  • Crypto payment adoption by dispensaries never reached critical mass
  • Most cannabis transactions remained cash or increasingly card-based as banking barriers eased

History

  • January 21, 2014 — PotCoin launches with cannabis banking use case
  • 2014–2016 — Small community; coin operates; dispensary adoption does not materialize
  • June 2017 — Dennis Rodman North Korea trip wearing PotCoin shirt; massive mainstream media coverage; POT price spikes
  • November–December 2017 — Alt season drives POT to peak around $0.25
  • 2018–2024 — Long decline; near-zero valuation; project effectively inactive

Common Misconceptions

  • “PotCoin solved the cannabis banking problem.” — Cannabis banking gaps have been partially addressed through credit unions and payment processors; crypto did not become the industry standard.
  • “The Dennis Rodman sponsorship was a formal agreement.” — The nature and terms of Rodman’s PotCoin “sponsorship” were never fully disclosed and remain unclear.

Social Media Sentiment

  • r/CryptoCurrency: PotCoin appears in “weird crypto history” threads and lists of 2017 alt-season oddities.
  • X/Twitter: Mentioned primarily in historical context; no active trading community.
  • Discord: No significant active community; historical Telegram groups went dormant after the 2017–2018 cycle.

Last updated: 2026-04

Related Terms

See Also

  • Reddcoin — another 2014 niche-use-case altcoin targeting a specific community
  • FedoraCoin — meme coin from the same 2013–2014 wave
  • Dogecoin — the most culturally successful coin from this era

Sources