Bitcoin Forum

https://i.imgur.com/SWSALHSl.jpg

ISSUER DETAILS

Founded in 2013, with a vision: create a new project involving Bitcoin that focuses the legal side of the cannabis industry by working with businesses on the sidelines and helping setup their operations.

Our Target

Entrepreneurs from all over the world who are kind of disruptive individuals themselves. Those that see an opportunity here in the "green rush" and want to invest. People that have been introduced to cannabis have experience or knows someone that needed it for a medical reasons. Users that have discovered how amazing it was for their condition and they realize that there is a way to be a part of the newly legalized industry.

Investment Details

CANNABIT is a investment that primarily focuses on the emerging legal cannabis industry. We invest in businesses and products in the legal and medical cannabis sector. The launch of CANNABIT comes at a time when people favor legalizing the use of cannabis. We provide an opportunity to invest in those that are pioneering the space in this multi-billion dollar industry. With the legalization of cannabis in Colorado and Washington for recreational and medical use, this is just the start in legalizing cannabis nationwide.

We are going to be generating revenue by providing consulting services and helping business owners setup their operations. We will advise entrepreneurs in opening and running dispensaries as well as cultivation centers. We will help businesses selling supplies at the wholesale and retail levels. We will work together with these businesses in generating revenue for our services. Our focus is to not directly get involved in cultivating and distributing the actual product. We will be providing consulting, advising entrepreneurs, and providing investment capital to expand their ventures. We will take an interest in these ventures to make sure we succeed together every step of the way. We are looking into opportunities that exists in between to fill the gap with products and services that will help producers, processors and retailers.

Why Invest?

This is an emerging market, it’s always changing and it’s completely dependent on the federal and state law. For international players to try to be involved in it, it has to be federally legal. It has to be regulated so that a market can be created. As cannabis becomes legalized in more states, we expect the opportunities for legal, profitable businesses to grow exponentially.

Just as Bitcoins created the digital gold rush, the legal cannabis industry will create a new green rush and we are at the beginning of it. The legalization of Colorado and Washington are a sign of things to come, we can benefit by this being created into a legal and viable industry. We intend to position ourselves as pioneers in the emerging legal cannabis sector through investments and opportunities.

Legal cannabis represents a multi-billion-dollar market opportunity, extending far beyond growing and selling plants. We believe in minimizing government and maximizing liberty for all, and that cannabis prohibition is a social, political, economic and public health disaster. New industries will be created beyond the obvious that already exist in some form as well.


SHAREHOLDER AGREEMENT

CANNABIT is a virtual identity held by investors of this project. We are here to provide business consulting as well as investment capital in legal cannabis related projects and operations.

Purchase Shares

Shares are listed and sold on cryptostock.com under the ticker CANNABIT. (https://cryptostocks.com/securities/63)

Dividends

Dividend payments from revenue generated will be paid on a monthly basis from fiat converted into BTC. Operational expenses will be deducted before dividends are calculated. Operational expenses are projected to be minimal and we will provide transparency in regards to this. Our main priority will be to provide investors with a safe and steady return on their investment before we continue to look into expansion. The first divided payment is scheduled and expected to start being paid out in Jan/Feb 2014 after we start seeing a return on our investments. For further details we will discuss this directly with the shareholders.

Shareholder Meetings

All shareholders will be able to participate in meetings with the issuer and our board of advisers. It can range from Q&A sessions to discuss potential future investments as well as brainstorming and bouncing around ideas for future expansion. This will help provide transparency between the management and the shareholders. It will also provide a platform to share creative ideas and be a part of something new and exciting.

Risks Factors

In the event of a forced termination of operations due to legal issues, the remaining assets of the project are to be liquidated and dispersed to the shareholders. Trading of CANNABIT will be halted at the time of the official announcement of a forced termination of operations. It is up to each person to perform their own due diligence in regards to this project and its operation.

CANNABIT reserves the right to buyback outstanding shares on cryptostocks.com with a 30 day notice, with the price being determined by the 30-day weighted average price or the current market asking price at the time of the announcement.


PRODUCTS & SERVICES

We have identified four possible areas of investment when it comes to cannabis: companies marketing to the cultivator, companies marketing to the end consumer, companies marketing to retailers), and companies with licenses to produce and sell cannabis. There is much more we can do within this emerging industry and there are other sectors that we would like to get involved in as cannabis legalization continues.

We will be providing the following products and services to our clients.

Consulting Cannabis Entrepreneurs
Opening Cannabis Dispensaries
Opening Cannabis Cultivation Centers
Opening Cannabis Evaluation Centers
Selling Supplies; Retail and/or Wholesale
Providing Cannabis Education Services


CONTACT INFO

https://cryptostocks.com/securities/63
cannabit@bitmessage.ch

IPO DETAILS

The offering will be for the IPO of 50,000 shares at a price of 0.002 per share for a total of 100 BTC. An additional 100,000 shares have been purchased by early investors that helped raise the capital needed to start this project several months ago. The remaining 850,000 shares will be held by management and may be sold in batches for future offerings to raise funds for expansion as well as new projects. The management shares are not intended to be sold without prior notice to shareholders. After the successful IPO, 150,000 shares will have been released and trading on the market. The total amount of shares that will exist will always be 1,000,000 shares.

Updated 12/30/13

The Cannabit IPO date will take place on 01/01/14. A first round batch of 50,000 shares will be available to purchase at the price of 0.002 per share. The BTC raised from this offering will go towards expanding the operation. A successful sale of the first batch of shares will go towards new investments that will be under Cannabit management. We look forward to a successful first batch sale of our IPO shares.

Who are you?
How much are you looking to raise?
Do you have experience in this area?
Where are you located?
Will you fully verify yourself on Cryptostocks?

I, for one, have been looking forward to this ever since I noticed it listed on Crypto.

My username should be an indication why I like this security. :)

Best of luck to you guys.

The answer to your question would be to identify myself via name, contact info, etc... I understand the importance of identifying myself, especially in the current environment where investors are being scammed on all levels both through the security itself and also by exchange operators. With that said, I am hoping to build trust based on my actions and performance. Given the nature of this business, it would be best for the operation and for investors, that certain information does not become public.

I am both a fan and a member of the Bitcoin community and have invested in Bitcoin securities for the past year. The problem that i see in securities that i have invested in is the lack of communication from the issuer. Having been and still a shareholder of securities that were/are listed on the various exchanges, the problem that i face is the unanswered questions and the lack of updates. I am sure most of you feel this is a problem with most of your investments. Once funds received by the issuer it seems as though they disappear and grow distant from the shareholders that put their faith and trust in the project. I don't really understand why it is difficult for the issuer to take a time out of the day to show up and address issues and answer questions asked. Whether the business is thriving or failing there should still be a clear line of communication as shareholders deserve to know what is going on with their investment. I plan on keeping communication and support one of my top priorities along with making sure this is a safe and solid investment.

In regards to the initial offering i will be providing more info such as how many shares and the share price will be discussed later on this week. My team and i have experience in this area of the business. We are all knowledgeable within this field of work and we are confident in the direction we are moving forward. The most experienced team member has 5 years of experience with the rest of the team having several years of experience. We also come from different backgrounds such as business, accounting and the medical field. We are currently located in the state of Washington. We offer our services to businesses and operators located within the state as well. I have already contacted CS in regards to verification so i will keep you posted on that. For further questions feel free to shoot me a PM and we can set aside time for a chat.

I understand why you don't want to be named (Govt not being respectful of state marijuana laws.. offering unlicensed securities..), but the name in this space is everything.  It is critically important.  

What marketable skills are you offering your potential clients?  

I'm down for what you're trying to do, but as an investment I'm not so sure. You are essentially just investing in a broad-range of businesses in an ever-changing, brand-new industry that is fraught with uncertain pressures from the government. All the more power to you, but too risky for me to want to invest.

It looks like you've used a lot of words to say "We will invest in cannabis related businesses, give me your bitcoin".

I actually like the idea but, no chance I'll invest with this little information.

Thank you for the responses everyone. I would like to disclose more information about the operation and how we plan on investing the funds raised but i would feel better doing that away from this public forum. There are some details i would like to keep private which I am sure most of you will understand and agree to. The purpose of this thread is raise awareness in this new project. For those of you that are not interested in such a project it ends here. For those of you that like the idea of what we have going on and is interested in finding out more information please reach out to me.  If you see an opportunity here, we can chat on IRC where i will be comfortable sharing details. If any of you would like to join me in channel #cannabit during the evenings (PST) i will be more than happy to answer some of your questions.

You do not get to pair this attitude with pretentious "we"ing as in your OP. See here (https://bitcointalk.org/index.php?topic=124441.0), demonstrate your competence. Then, and only then, can the rational favorably consider investing in your efforts.

PM's sent out to those that have showed interest in this project. Thank you for the positive responses. Please feel free to PM or jump into #cannabit on IRC to chat.

Cannabit would like to introduce a new product line that we are looking to distribute once it becomes available. PureZHO is a natural herbal oil extractor. This product is non-toxic, non-flammable and organic. For those of you that know how to make hash/wax, it is currently made by using butane cans to extract BHO (Butane Hash Oil; http://en.wikipedia.org/wiki/Butane_hash_oil). Butane is very dangerous and there has been many accidents and house caught on fire due to using butane to make hash oil. PureZHO is a revolutionary product that eliminates health issues as well as the potential danger associated with using butane as a oil extractor. Below is more information as well as a video demonstration of how the product works.

-----

Pure ZHO Test on Red Pepper
http://www.youtube.com/watch?v=61-8rdBNVo8

Pure ZHO vs 134A
http://www.youtube.com/watch?v=vipxiyD4V_w

More info at www.purezho.com

https://i.imgur.com/JROumg3l.jpg

http://imgur.com/a/xbFoK

Just wanted to update and add a few photos as a teaser to show everyone what we have been working on for the past month or so. The pictures are from one of the projects that we helped get setup and now it is up and running. We will continue to expand this project by providing our help and guidance to make sure of its success.

Also, we have received numerous e-mails and inquiries since this thread was created. I am glad to see many of you support our efforts here. Some of you wanting to invest and some of you looking for investment capital to fund your projects. Thank you all for reaching out. To discuss this project in detail please continue to e-mail and/or join us in IRC #cannabit.

Could you outline what you are going to do in the next weeks and months?

https://i.imgur.com/KiSXk58l.jpg

http://imgur.com/a/0NOmV

I just wanted to share some more pictures. This is one of the first gardens that has been up and running for over a month now. We have a total of 6 gardens we are working with operators to get it up and running by Jan/Feb of 2014. As of right now the main focus would be to help our operators expand for the next few months by setting up more gardens. As future projects are started and as soon as investments are made we will be continually updating.

https://i.imgur.com/Dc5Y73Sl.jpg

http://imgur.com/a/XLAGt

We have been busy for the past few weeks helping one of our partners in getting a new storefront up and running. As you can see in the pictures in the link below, it is still almost finished with construction but should be open within the next week or so. Will keep you guys posted. Come join us in freenode IRC #cannabit for more details.

https://i.imgur.com/1TdTpMKl.jpg

http://imgur.com/a/G5npM

I just wanted to share some pictures of the recent harvest from the growers that cannabit is closely working with. Will post more pictures of how the cannabit garden is looking within the next few days as time allows to make the visit to our partners. Thank you for taking interest in our project and supporting what we have going on. Merry Christmas everyone.

could I get a free sample of the product before I consider investing?  ;D

I approve of this product.

I just want to know more about your business model and how you plan on making your money back before I consider investing.


Are you providing a startup service or more of an investment? To clarify, will it be a one time fee to set up a dispensary/cultivation center or will there be some sort of profit sharing between you and your customers?

https://i.imgur.com/Raq37vVl.jpg

http://imgur.com/a/SNb2X

Here is a picture of our LED garden. We normally run the HPS lights for the other gardens but our team wanted to try a LED setup to see if the yield will be greater vs the HPS setup. Will keep you guys posted. Meanwhile enjoy the pictures. Feel free to PM me or join us in freenode IRC #cannabit.

Of course, you have to sample the product first! HAHAHA ;) Maybe we can work something out. ::)

https://i.imgur.com/B2b3gKAl.jpg

http://imgur.com/a/rM6Pn

Our grow team just got a new shipment of equipment today that will get two more gardens up and running before the end of this week. We stopped by to snap some pictures of the shipment received as we were excited to hear new Cannabit gardens will be operating in the next few days. After the two new gardens are set up, we will have a total of four gardens operating as we start 2014. We still have two more gardens we will be opening up towards the end of January. We are looking to have a total of six gardens operating by February. As i quoted above, Cannabit will be offering a batch of 50,000 shares to the community to raise funds to put new investments into place. With the raised funds we are looking into further expansion of gardens and/or a retail outlet. Once again, please feel free to reach out to me if you have any questions. We will continue to make announcements as we move forward. Join us at freenode IRC #cannabit for discussions.

Very interesting. Watching.

What time does the IPO start? 0:01 UTC on Jan 1st 2014?

https://cryptostocks.com/announcements/497

The IPO will be taking place at 05:00 UTC. We am very excited and hope those of you taking interest in our project will be able to make this offering a success. We would like to wish everyone here in the community that is supporting us a Happy New Year!

HI cannabit will you guys be doing anything in the Colorado scene?

At the moment we do not have any immediate plans for CO but we are considering getting involved in the scene out there in the future. Both CO and WA are leading the race in Cannabis legalization so we definitely want to position ourself on the frontlines of this movement.

Hey Cannabit, good luck with the IPO. For anyone interested, I've posted an analysis of the offering on my site (link in my signature).

The TL;DR of it is that the operations seems very professional, the founders are very open and willing to communicate, but the valuation is far too high.

This is an interesting proposal but I need more details.  You mention you will be providing investment capital to expand your clients ventures, but you didn't list this as one of the services you will be providing.  How much of your funds will go towards investing in other cannabis start-ups? 

When you say you will be "opening cannabis dispensaries, cultivation centres and evaluation centres", what does "opening" actually mean?  If you wont continue to run these centres, what role will you have in them?   Also, what is your role with the 4 gardens you have operating already?

Feel free to PM me answers to these questions if you prefer.

Thank you for the write up twentyseventy. We appreciate your honest opinion and also giving us some exposure on your site. I hope that you will take part in our project and pick up a few shares just to see where it goes. By holding a few shares, i feel you will have a greater interest in Cannabit and you will be following the project in detail. Also, i would like to ask you if you can do another analysis a few months down the line to share your thoughts on the progress Cannabit has made since it's inception. Thanks again everyone for your interest and support in our project.

To be clear, Cannabit does not plan on operating its own marijuana dispensaries but instead plans on investing in other companies that will do so. Can we get a list of some of the projects that you claim to have helped start up in order to verify that there is something real here?

While I don't believe in picking up shares if they don't offer enough value, I will likely be keeping close track do the stock and the company to see how the new year's activities progress.

I'd be happy to do a follow up after a few month's time and come back to the valuation.

I bought shares mostly because i want to invest in something with potential good returns that are practically independent from bitcoins. So if anything fails with bitcoin, when bitcoins are crashing or forbidden then this investment will still stay alive.
The other thing is that i believe, from writing with him, that the issuer is a honest and fine guy. I really await that he will keep communicating. The communication issues with other securities is what drives me away from them. I dont see this coming here.

I also asked a question and got an immediate response via pm. Great communication and I hope it can stay this good. Too often we see great communication for a few weeks but then after ipo all communication becomes incredibly slow or disappears completely.

It's nice to see people are starting to post and voice their opinions on this thread.  :) All replies will be sent and PM's will be answered shortly after this post.

At the end of the day i am just like you guys. I have been investing in Bitcoin securities and have been burned pretty badly due to scams as well as issuers not being able to communicate and perform on their end. I am more of a lurker on the forums and post only when i feel it is necessary. I am just as crazy about Bitcoin as all of you here. I read the forums everyday and i follow Bitcoin news/blog sites as well as have a twitter feed of all things Bitcoin. Just like many of you here, i am heavily engaged in the Bitcoin world.

Those of you that i was able to reach out to prior to the Cannabit's inception know there was one reason why i wanted to start this project. That reason was to prove to myself as well as the community that issuers can communicate effectively. They should be able to back their words up with proof such as pictures, videos, etc... I think communication should be #1 priority on every issuers mind. I don't want to call out anyone here publicly but those of you that are managing securities i have a few questions. How hard is it to communicate with your shareholders? How hard is it to reply back to PM's or answer questions with details in a timely manner? What is it that makes you avoid questions? Why is it that you cannot update investors with timelines, dates and goals?

Being on the other side now as a issuer, let me tell you it does not take much time out of my day to attempt to make communication and reach out to investors. It does not take much effort to show the community that i am around and that i actually care about the opinions and views of shareholders. Most of the stocks that i invested in did a good job of communicating in the beginning when the coins were needed but soon after the coins were received they seemed to have dropped off the radar. My goal here is to make sure that Cannabit builds trust and gives confidence to investors. I hope that most of you will recognize and see value in that. I hope that we set an example for other issuers to step up their game.

Thanks to twentyseventy we are also on the BitcoinStocks reddit. Check it out.

http://www.reddit.com/r/BitcoinStocks/comments/1u5smb/cannabit_ipo_should_you_be_a_part_of_the_green/

Really this looks promising but there has been

1.) No real names/contact info provided
2.) No addresses to verify
3.) No partners provided



There is no physical proof of existence here, and I cannot fathom how anyone would be willing to invest in a company that hides the way this company hides.

Your points are valid and i totally understand where you are coming from. The operators and i would like to remain anonymous. It is not because we have anything to hide but we feel that it is safer this way. There are a few shareholders here that have met me in person, know my name and phone number. If they wish to come on forward and confirm this then it could help verify that this project is real. I will post a few more pictures after the weekend with a tag in every picture to help provide more physical proof of existence. I assure you as time progresses you will see consistency and results which will help determine the safety of this investment.

Thanks for posting. I am sharing only my opinion with the community to let people know we share many of the same experiences. I understand the frustrations investors have because i share the same frustrations. One of the main purpose of this project was to create something better for investors. From the choices of securities available to us today, i feel that i can do a better job of communicating than most of the issuers here on this board.

I understand that running a successful operation can be difficult. There are things that are in your control and things that are out of your control. In order for any project to succeed it's about who you know and what you know plus a little bit of luck and timing. In regards to our network and knowledge we got that covered. I believe timing is great for investments related to the legal Cannabis industry as well. As far as luck goes, we'll have to hope that we don't backtrack and that we continue down the path for further legalization. I feel that we are in a good position right now to take advantage of this opportunity. Please check back often to stay up to date on our progress. Thanks. =)

If you learned anything from the experiences that you claim to share with investors who were foolishly burned by scammers, then you would know that you would need to provide more personal/contact info. Right now you may as well be any one of the many scammers that ran around here only with a new account and an newfound understanding of the English language. I would heavily doubt that this IPO gets anywhere near success level without more verification

I just buy 200 shares , CANNABIT,GOGOGO~

Thank you for your support. Will post some new pictures this coming week. One if our gardens should be ready to harvest in about 1-2 weeks. Buds look really good. Will keep you guys updated as we make progress.

I will make an effort to achieve success even without further verification. I hope down the line we can earn your trust. Lets chat. Sending PM now.

Thats not fully correct. There are issuers that verified by using escrows. Gave them their personal details, ID and more. Not every issuer wants to stay in focus.

At the end you simply can wait if you like the dividends and trade based on them...

Jan 2014 - Week 2 Update

I hope everyone is having a great start in 2014. We have been keeping busy working with our partners trying to push forward. Here are some pictures of the new equipment being set up last week by our team. This tent will run HPS lights as you can see.

https://i.imgur.com/sKJ28jOl.jpg

http://imgur.com/a/k1mjs

Below are pictures that were taken from our visit this morning. We have some new clones and seeds the growers will be planting this coming week. The strains that are currently being grown in the various gardens are the following.

Crystal Mass (Hybrid) - http://www.medicalmarijuanastrains.com/critical-mass/
Girl Scout Cookies (Hybrid) - http://www.leafly.com/hybrid/girl-scout-cookie
LA Cheese - n/a
OG Kush (Hybrid) - http://www.leafly.com/hybrid/og-kush
Purple Morac (Hybrid) - http://www.medicalmarijuanastrains.com/purple-maroc/
White Rhino (Hybrid) - http://www.leafly.com/hybrid/white-rhino

https://i.imgur.com/gvTH5mDl.jpg

http://imgur.com/a/zrKuv

The people that we are working with are making great progress and the upcoming crop looks really good. The updates will continue as as the team makes progress. Once again thank you for your interest and support.

Can we get some tagged pics? Like the original post with a piece of paper saying cannabit. New pics look good if you can prove it is your work and not just some random pics from google images.

+1 This would help build up the trust as well.

Of course. Will get this done tomorrow. We'll either use the same picture in the original post or we'll make a new one and hash tag #cannabit with the date as well. I'll have someone take care of that ASAP and i will upload photos in the morning. I wanted to share an article that i ran across tonight. I hope that support for legalization continues to grow.

http://www.businessinsider.com/cnn-marijuana-poll-2014-1

Here are some tagged pictures. I will be uploading more pictures into the album with more tags to help verify these photos are ours. Included in the picture is the forum username along with today's date.

https://i.imgur.com/hjfxImrl.jpg

http://imgur.com/a/Bc2dc#0

Just bought 1200 shares, hope to see it succeed!

Awesome! Glad you are hopping on board. We are making steady progress so things are looking good. Thank you for your support.

Hate to be that guy but when can shareholders expect to see their first dividend?

By the way things are moving along we should be paying our first dividend starting February. =)

What's your projected net profit?

as a shareholder i am proposing a tasting party. how is it ;D

All questions have been answered and replied to via PM. Thanks guys and have a great weekend!

I'd be interested to know this too. I'm thinking of picking up a few shares  :)

Why isn't this answered yet?

Jan 2014 - Week 3 Update

https://i.imgur.com/elyligbl.jpg

http://imgur.com/a/WKPZZ

All questions have been answered directly via PM. Here are some random shots that were taken this week. Not much has changed since last week. We are still on schedule to get 2 more gardens up and running by the end of Jan or early Feb. It looks like the first harvest will start to take place in about a week. Once the plants are cut, the drying and curing process will start which will take about 2-3 weeks. The buds from the Cannabit crop look bigger than the last picture in the album. Please feel free to PM me if you have any questions. Thank you for support.

I agree that cannabit owner needs to identify himself but MPOE, fuck your WOT and who the hell are you to tell ppl how to setup a business, u spam every post with ur damn rubbish thread from 2012.

Jan 2014 - Week 4 Update

https://i.imgur.com/q65JOfal.jpg

http://imgur.com/a/ClqxF

We have good news! The Cannabit harvest is taking place from the first garden this week. The picture up top is the first plant that was cut this week from one of the gardens. The remaining 20+ plants in the garden is going to be cut throughout the next few days according to the grow team. Once the plants are cut they will be trimmed, dried and cured. This whole process takes about 3 weeks on average so i will keep you guys posted as we make progress.  We have also planted some new seeds this time rather than cloning as you can see in the pictures. These will be in their vegetative stage for the next 4-6 weeks before they enter the flowering stage. Below are information on the 3 strains that are being grown from seed.

Grape Ape (Indica) - http://www.leafly.com/indica/grape-ape
Blackberry (Indica) - http://www.leafly.com/indica/blackberry
Girl Scout Cookie (Hybrid) - http://www.leafly.com/hybrid/girl-scout-cookie

As of right now there are 4 gardens that are operating with 2 more gardens that will be operating by March. We are working with our partners to make this happen as soon as possible. We want to see a safe and steady growth while trying to perfect the craft and produce a high yielding quality crop every time we go through a cycle. Things are looking good and we are definitely making progress. Thank you for those of you that are continuing to support the project. Please feel free to PM me if you have any questions.

I love these updates. You guys are making good progress. Keep it up!

Jan 2014 - Week 5 Update

Just dropping in to do another update for week 5. Everything is still moving along with everything stated in last weeks update. There is not much to update as what will be happening in the next few weeks. Our partners are making great progress and it looks as though they will finish up a successful cycle. We have a great team we are working with and i will continue to keep everyone updated as we continue to make progress. Thank you for your support!

I wanted to address and clarify one more time for some of the new investors or current shareholders of this investment. I have been made aware of something that should be made clear about Cannabit. As stated directly on the first page of this thread, we are investing in business operations related to the legal Cannabis industry. The first phase of this investment is where we are now, which is targeting entrepreneurs looking to open up cultivation centers as well as retail dispensaries. Eventually moving forward, we would like to focus on distributing supplies as well as related products. The list of services we would like to provide to our clients is the following:

Consulting Cannabis Entrepreneurs
Opening Cannabis Dispensaries
Opening Cannabis Cultivation Centers
Opening Cannabis Evaluation Centers
Selling Supplies; Retail and/or Wholesale
Providing Cannabis Education Services

We just want to make sure that we are not misleading or misrepresenting any shareholders or any potential investors who might think otherwise. We are not in the business of cultivating and distributing the products directly ourselves. We work with those that handle the operations on a day to day basis by providing them with much needed consulting as well as advising. We help manage the overall operation and provide direction for growth and success. We are only providing the services listed above. I hope that this post can help clear up anyone that might want clarification as to what we are and what we do.

Copied from our Reddit thread.
http://www.reddit.com/r/BitcoinStocks/comments/1u5smb/cannabit_ipo_should_you_be_a_part_of_the_green/

twentyseventy 2 points 27 days ago
They bulk of their revenue looks to be consulting on grow operations, setting up dispensaries, etc.

keonne 1 point 27 days ago
Those are taken word-for-word from the IPO page, but basically Cannabit will be advising and providing funds to legal marijuana farms and dispensaries. They will not be directly cultivating and harvesting product.

Nice updates!

With regards to funds provided to legal marijuana farms and dispensaries, are you providing lines of credit or do you hold equity stake in these ventures?

Are you able to disclose the current amount of capital invested in these ventures?

Project looks to be going nicely. But something I think many of us are really interested in is the dividends.

Can we get a rough estimate on when we might expect our first dividend?

Yes, the project is definitely moving along nicely. In regards to dividends we are expecting to pay out the first dividend towards the end of Feb. That is the rough estimate that we have at the moment. Thanks.

Feb 2014 - Week 6 Update

https://i.imgur.com/lJKn7WSl.jpg

http://imgur.com/a/N5HMr (http://imgur.com/a/N5HMr)

Another update with progress on what is going on. Here are pictures of the first batch of plants drying. The plants are currently drying for the next week. After the drying process is complete, the plants will be trimmed then cured for about 2 weeks. The curing process is the most important stage in producing a quality product. Here is a little bit of information on curing.

The process of curing promotes the slow decarboxylation of oxygen molecules from the THC present in the bud; this will increase the psychoactive properties, making the weed more potent. The curing process also means that moisture levels will be consistent across the entire bud, giving you a much smoother smoke and a more even burn.

The last two pictures are of clones that will be moved from vegging to flowering stages in the following weeks. We will be fully maximizing the potential of all the operational gardens which we are very excited about. Our plan is to advise our partners to go fully organic (nutrients) and focusing more on the quality of the end product. We are constantly testing out new methods of growing and researching new ways to achieve a superior product. The next several months for this project will be very interesting. Thank you for your support. Please feel free to PM me if you have any questions.

nice thnx 4 the updates.

Everything looks pretty tasty. The updates are great, looking forward to the next one.

Do you update the front page in regards to the size of your company i.e. where you stand, where you want to be in a couple of months etc.?

We have not updated the first post on the thread but we might start updating the front page when there is a major change to the security or the direction of where we want to go. In a few months we want to be able to be a little more hands off with our growers. Once we can free up some resorces we would like to start working with potential partners and focus on opening retail outlets. This way we can connect both the growers to the retailers by building relationships where we can advise our partners from start to finish. We hope to start expanding into that direction mid 2014. We eventually want to be able to have a presence in every part of the supply chain. The number one priority is to establish and maintain our relationships with our partners and bring a high quality product to the market.

Excellent news, now is a great time to invest and take advantage of the low stock cost IMO.

The domains (below) are owned by me and are for sale...if interested message me. Thanks.

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Hey just curious as to how you like those Solarstorms vs HPS

The Solarstorms are awesome. They are actually the optimal setup but they are just too expensive compared to the HPS setup. I have heard good things about plasma lights as well. Hopefully prices for LED lights will come down in the future. Aside from the price point i would recommend others to go the LED route if possible.

My initial thought was "meh, how can a fiat based operation create nice returns, if the Bitcoin rally continues". Given the fact that the opposite became reality and coins are cheaper now, I guess Cannabit shareholders should be happy? ;)

For me its a way to be bitcoin and cryptocurrency independent. I mean practically all investments here depend on the bitcoin. In case the bitcoin crashes or they try to forbid it this would be an investment that would still stay alive... i think doing a bit of this risk management is no bad idea.

Assuming that the ventures are profitable, it can be a hedge against a falling BTC/USD rate. It's a good idea to diversify between securities with pure BTC exposure and some with fiat exposure as well.

I feel the same way. Just think of this investment has a regular investment but Bitcoin is the method that you are able to invest. If you value the investment in fiat where you invest and get a return in fiat then it is a great hedge as BTC value drops.

On a side note, we are now working with a wax maker and will connect our growers to the wax maker in order to turn some of the flowers into wax. Meeting with many store owners in the area, they are looking to expand into more wax products as they see it is the future.

Wow and your not an asshole.

Please don't buy a domain from this guy, if you do he wins and if you don't then he loses out on all the cash he spent to acquire those and doesn't make a profit. Make him lose out on the cash, domain squatters are almost as low on my list as patent squatters.

Feb 2014 - Week 8 Update

The operators have finished drying and trimming the harvest from the first garden. The buds are now entering the curing process where they are put into jars with airtight lids to prevent mold growth. During this process the jars are opened every 12-24 hours to allow the fresh air. The curing process usually takes anywhere between 1-2 weeks and then the whole process will be completed. The end product will be ready to move along the supply chain into the network of stores we work with.

The harvest from this garden had a mold issue that affected some of the plants. Mold issue is one of the main problems that growers experience. Growth of molds is a serious issue and we were able to remove some of the infected parts of the plants. When the plant is infected with molds, there is no cure for it. What you can do is to remove the infected parts. Molds are sometimes difficult to detect. The best way is to prevent its growth from the beginning. Mold grows when the temperature and humidity is not properly maintained in the garden as well as over-watering the plants.

This is definitely not good news but we feel that this is a part of the learning process while having the operators perfect the craft while going through the cycles. We have addressed this issue to help prevent mold issues in the future. There are certain steps that will be taken cautiously to make sure this is not a problem for all the gardens that Cannabit has invested in. Thank you for your patience and understanding while we overcome obstacles and continue to push forward in the right direction.

The only source of knowledge is experience.

Thanks for the update.

How many? What's the overall yield, what was lost etc.? I demand facts .... and more sweet pictures. ;D

Thanks for the update.

Minus the mold issue, glad to see things are moving along as planned.
I also like the fact that you guys are exploring other areas including wax, which has also become very popular in LA area lately.

I'll be buying some OG Kush with my first divs. :)

I also agree with dexX and demand more sweet pics (minus the mold)

Thanks for the update and actually letting us know about the mold issue. Its great to see your learning from it whilst being transparent to the shareholders about issues that have arisen.

More informations like : Expected return, next moves, how you are expecting to position in the market, status of the legal situation. After reading the whole thread I get the feeling that you know what you doing in terms of expertise but lack hte business acumen.I want to invest but with so few information proper valuation and risk measure are way subtle.

Here is an example of what I think would be a good lvl of comunication:

https://www.havelockinvestments.com/fund.php?symbol=RENT

(this is the page of a real state firm in central Ohio that funded itself in bitcoin through Havelock, pay attention to the business plan)

Thank you guys for being so understanding. The mold issue was unfortunate this time around. We went over the overall setup with our partners and made changes.  We worked on making fixes in the gardens to provide better intake of fresh air. We also made changes to allow the air to exit while providing a strong suction to increase the intake/exhaust airflow. We want to maintain a sterile environment for the plants to prevent other issues such as mites. We will make it a huge effort to make sure this does not become a reoccurring issue.

We have been having numerous discussions with our team as well as our clients. It really does take alot of knowledge and experience to develop the skill of growing Cannabis. Mistakes will be made along the way while learning from those mistakes. I believe it is a step by step process and with more experience our partners will be able to produce a better product as time progresses.

Cannabit has only been around for a few months. We are still in the early stages of the business and heading in the right direction. One of the things we have been working on is the cycle schedule. From the seeding stage to the vegging stage then to the flowering stage and ultimately to harvesting the crop. Timing is very important because we want to maximize the amount of space and potential of each garden. We will see no more down time and will constantly have batches of plants to be moving into the different phases like an assembly line.

I will post more pictures along with details in this weeks update. Thanks again for your support.

This is great, however I agree with XliptTit with the need for a business prospectus. It sounds like you guys are on the way, however simply having an official business plan in a downloadable PDF would go a long way with people here. The pictures of the product are great proof that what you're doing is legit, however a business plan would really make you guys stand out and increase investor confidence.

Campaign: [Weed Like to Talk] Donate to start a wave of cannabis seminars in Europe - https://bitcointalk.org/index.php?topic=494125.0 (https://bitcointalk.org/index.php?topic=494125.0). Please consider a donation.

It might be a bit early, but have you ever considered distributing shares using a decentralized method, such as Colored Coins?

Weren't divs supposed to be paid end of Feb?

I would like to extend a little knowledge here. There are different types of mold, but I think he is talking about botrytis mold or grey mold. I would assume, because OP never specifies exactly what. He could have had powder mold too... which is substantially different. Also watch out for spider mites, if you get those, you have to take EVERYTHING down, bleach EVERYTHING, and start over a very costly endevour.
IF it was botrytis mold, that generally occurs when the room doesn't have enough airflow/space around the plants, but personally my biggest problem with the grey mold was when my plants got HUGE, I would find a few colas with grey mold and if I didn't harvest right then, more and more, it is really hard to stop once it starts. The bad thing is, most people will still sell this, they just cut out the moldiest parts and sell the rest of the plant. This is not medicine, it doesn't help people, it gets them sick. The mold spores are already all over the place and damage has been done, usually to the best part of the plant.

Anyways, the best way to prevent this is with proper environmental controls, but in my experience I have found strain and if you grow from clone or seed matters A LOT. If you buy clones then who are your clones coming from? It seems a lot of people selling clones don't know are don't care that they are passing bad genes on that are more susceptible to these kinds of molds.

I grew in 2 warehouse in CA for 5+ years, also look http://www.ilovegrowingmarijuana.com/marijuana-diseases-gray-mold-bud-rot-botrytis/ (http://www.ilovegrowingmarijuana.com/marijuana-diseases-gray-mold-bud-rot-botrytis/)


Good Luck with your business I wish you much success.

ATTENTION CRYPTOSTOCKS USERS.  CRYPTOSTOCKS HAS BEEN COMPRIMISED.!!!!!!!!!!!!

I just visited cryptostocks only to realize my account has been hacked.  they didn't have access to my e-mail and they didnt need it.  Be forewarned that nothing is safe on cryptostocks.com   

Proof or gtfo.

No problem with my account. You had a unsafe password/no google auth/email hacked?

my e-mail wasn't hacked only my cryptostocks account.  they didnt even need to open the password reset e-mail however they did it.  ???

If they hacked your email account you dont need to see it. They could have deleted the reset email and thats it.

the reset email wasnt even deleted.  it was sitting in my inbox unopened

Thanks for posting up. The mold issue was due to the airflow in the grow room. That issue has been fixed now and the intake and exhaust airflow in the room is good. You are definitely right about how hard it to stop the mold once it starts developing. It is unfortunate that some growers will try to sell the product even though there was mold issues. We feel this is not the right way to go about this. We initially tried to determine what was salvagable and what was mold infested but in the end we felt the same as you have stated. The mold had spread all over the place and the damage has been done already.

In order to prevent any future issues we are only working with one trusted clone company and we will have our partners start to grow from seeds. The new crop consists of clones and we will move everything over to growing from seeds the next round. It is true that most people selling clones and growing clones have no idea where they came from and how strong the genetics are. We want to take every precaution and make sure we have our growers bring out high quality products with strong genetics.

Mar 2014 - Week 10 Update

After talking to with our partners we felt that it would be better to turn all everything that was harvested into wax. This decision was made because we did not want to sell a product that could potentially make people sick. This would also put us in a bad position if our customers came back to us with traces of mold and issues after medicating. We have less than 10lbs of product that will be turned into wax as soon as possible. This should help us make the best out of this situation.

As far as a distributing shares through a decentralized exchange method that is definitely something we will consider as soon as it is ready. We want to make sure we don't have any issues with a centralized exchange as we have all experienced and seen last year as well as the past few months. As soon as a tested platform is ready and there are no bugs or issues we will move over to that right away.

Dividends will be put on hold and delayed temporarily. We will try to get dividends paid out as soon as we can. I know that some of you early shareholders have been waiting ever since we officially had our IPO in January. This will be on top of the priority list and will make an announcement as soon the dividend payout has been rescheduled. The mold issue set us back a little bit. We apologize for this delay.

Moving forward, we have new plants in the rotation. Will take pictures before the end of this week and post them up to show progress being made. Our plan for the time being is to maximize the output of the gardens currently operating at the moment. We want to achieve more consistency along with producing a better yield. We will not be working on expanding until we maximize our production with the partners we are working with now. We will position ourselves in the local market by providing a few in demand strains that no one has here.

Please feel free to PM me if you have any questions or concerns that you would like addressed. Thank you!

You should look into Counterparty /XCP that has already a decentralized exchange in place. Dividend distribution is working too.

Except Counterparty has yet to setup BTC dividends, they can only be paid in XCP and I personally don't want XCP's for dividends. They plan on incorporating them in the future but its not a usable platform until that has been setup.

why share price doing so badly? :(

Not anymore

from Counterparty thread :


It's cool because I don't trust cryptostocks + the fees are exaggerated on that platform.

people getting impatient
lack of positive news

Sell orders @ 0.001800 but nobody willing to buy...

i stack hold SUN coin. imo decent

Mar 2014 - Week 11 Update

http://imgur.com/a/TPBiW#0

https://i.imgur.com/oOSGgGm.jpg

This picture is from one of our flowering rooms that is currently going through the cycle. This room is about 1-2 weeks in the flowering stage. These plants look very healthy and strong. The temperature issue has been resolved and is maintaining a constant high 70's when the lights are on for 12 hours. When the lights are off the room stays in in the high 60's. Airflow and circulation looks good at the moment with no issues.

https://i.imgur.com/EHwOqKB.jpg

The next set of pictures you see is one of our new flowering room. This room is almost set up ready to go for new plants ready to enter the flowering stage in about a week. We just have to finish up some ducting and get the fans going which should take no longer than a day to finish up.

https://i.imgur.com/qmN1jmy.jpg

These plants will be entering into the flowering stage in about a week and will be moved into the flowering room we have setup (picture above). They are ready to be transplanted into bigger pots before being moved into flowering. We have another batch of clones that will be ready at the end of this week that will keep us on schedule after these babies have been moved into the next stage.

We are working hard to keep things on schedule and the rotation consistent so we don't experience any down time. We want to make sure we have plants always flowering, vegging as well as new clones being produced from our mother plants. We are heading in the right direction and we should be maximizing the space and lights in each of our gardens within the next few weeks. Hope you guys enjoy the pictures. Thanks again for your support and understanding. I appreciate the PM's sent with words of encouragement.

Thanks for the update, any news about the wax that you guys mentioned last time?

Yeah a date or some sort of timeline for an actual dividend payment would be nice. Otherwise why are we investing with you?

The issue was raised earlier in this thread that one of the major challenges potential investors will have to get over is the lack of verification on the issuer's side. I do understand the reasoning of having to stay 'under the radar' in this case, and the OP has come across as a very genuine person. He communicates well and responds to PMs very promptly.

My gut tells me this thing is for real, but without proof it's just too much of a gamble.

Curious as well about what the profits will look like, saw that you're pm'ing those details to people who are considering investing. Send me what you can, I'd like to see as many numbers as I can - operating costs, capital expenditures, revs/profits etc. Thanks!

I'd very much like to receive this too :)
Why not make it public?

The wax/oil prices in the area have significantly dropped. We know people that want to take it off our hands but not at the price point we are looking for. We might have to settle if we cannot move it out at the price we want. It might be the only choice for we to unload the wax. Will let you know as soon as we make a decision.

Dividends are going to be a little delayed. I know the reason for investing is for the dividends and returns. All the investors will see that coming your way as soon as possible. I don't want to give out a exact date as of now just in case i am not able to keep that promise.

Thank you for your comment. This is for real and with any investment it is a gamble. But with any investment there are risks involved. As long as we don't experience anything out of the ordinary that is out of our control i would say this is not high risk. Competition moving in fast though as it looks like there is more supply coming in than the demand available which results in price drops for volume purchases.

I guess thats to be expected. The market is a boom market and everyone and his friend wants to get in. Hopefully it not gets to the point where only the strong survive. Though im confident in cannabit anyway.

Wow, what is this, amateur hour? Its not the strain that caused the powdery mildew. All you needed was 100 bucks, what I know, and you could of saved the whole crop. It was winter and your air circulation was weak at best. You dont need new clones or new strains. You should be growing the most profitable ones for your investors. Youll probably be fine in the summer, but then your operating costs will go up with the need for AC. You must have messed the flowers up pretty bad to have to scrap the whole grow, but I didnt see anywhere NEAR 10 pounds in there. Pretty bush league to "try" and grow with other peoples money at stake. Ill be launching something similar to your Cannabit, just wanted to check out the competition...not seeing much here.

Im not done here actually...the small veg plants are droopy, deficient and yellowing. They need water, and probably some nitrogen. Your PH and PPMs are probably off as well.

Not trying to be a dick, its just kind of unsettling to see someone else already in my space; and they dont really know what they are doing. I mean, I read your IPO before I found this thread and I said to myself; holy shit, these guys have no idea what they are talking about, and they clearly dont know the medical marijuana business. So I was not surprised to see there were no dividends paid out yet. But youre right, growing medical marijuana isnt easy and it takes years, and a few bad crops to perfect. Its just too bad you are learning with investors money. And powdery mildew is easily avoided. Here is a taste of my meds. I only grow OG because it sells for the highest no matter what.

https://i.imgur.com/YtXgEaD.jpg
https://i.imgur.com/LlNOv7V.jpg

Its the sticky icky
https://i.imgur.com/dUC1Cvv.png

Im not sure what to think of a competitor posting in a competitors thread its own advertising and claiming "i can do everything better".

Normally i would have thought that these tents include technique to overview humidity, temperature and other factors so you get informed of bad conditions instantly. Im not sure if the airflow can be measured correctly somehow.

What do you mean with 100USD were needed to safe the whole crop?

Anyway... its a bit strange that you admit errors can happen but blame others when it happens then. Im not in the business so i cant tell what could have been though.

Well first, I wasnt advertising anything. I havent even put everything together yet. But I sure can do better and have for over 5 years in LA, the most competitive marijuana market in the US.

The tents are garbage and for hobby growers like the guys here. They are only good if you need a small airtight space to introduce CO2.

The mildew probably started setting in around week 3 or 4 of flower. It will start off barely noticeable but the spores will soon spread to most of the foliage and slowly inch toward the bud unless you knock it back with something. By week 7 its too late to do anything and you are screwed like these guys.

I admit errors because they are easy to make for amateurs, as I was one once. But I made them on my dime and time, not investors. The part of this IPO that really pisses me off is here

"We are going to be generating revenue by providing consulting services and helping business owners setup their operations. We will advise entrepreneurs in opening and running dispensaries as well as cultivation centers. We will help businesses selling supplies at the wholesale and retail levels. We will work together with these businesses in generating revenue for our services."

The arrogance! These guys obviously cant even grow in a tent and they are going to be advising others on running dispensaries and advising on grows? No one pays for advisors aside from very rare occasions where someone is a proven lifetime grower or has a strong portfolio showing past large scale grows like myself.

Just by the 3 pictures i see multiple things wrong with this grow. The veg leaves are curling and they arent even being topped back so they are tall and lengthy instead of short and bushy which is what you want. Look at all the light being wasted. They could definitely be closer to the canopy too. I just dont see very high dividends out of this grow even with a good run. The growers have to get paid too obviously.

ANd how many watts is it? What are the projections?? I put blame on people who make cryptostocks look bad by not delivering, not to mention the growing profession that I take very seriously. A couple cryptostoners throw a grow together and all the sudden they are the foremost advisors in the field, yet cant even grow their own meds.

If you go public and take peoples hard earned money, make sure you can deliver...thats all im saying. 

I think its easier waiting for cannabit to answer.

What, with "divs coming soon"?

Bitcoin tanks which would make any divs quite high for the long termers, been sitting around waiting since IPO, they f**k up the crop, supposedly salvage it into oil now they are scrapping the whole lot. Meanwhile the price has tanked and the share holders are sitting holding (or maybe licking) the bag...

Seriously, "green rush"? The only green that's happened here is someone IPO'd something then strung the people they scammed for months. I bet they've cashed it out to $$ bought their kit, produced some buds then on the one crop they fucked up came back here and said "oh no, it's all broken".

Oh, and don't even get me started on their IRC channel, it's been essentially empty for months, not a single update, not a single OP.

I'm calling scam and glad I wasn't stupid enough to throw in money I couldn't afford to lose.

To the OP, produce results, we're sick of waiting. Your IPO statement said "expected to start being paid out in Jan/Feb 2014", it's now over a month from your timeline and.. nothing...

Really a shame to see yet another crypto::stocks asset seemingly biting the proverbial dust!  I had high hopes that this project wasn't a scam...those hopes are rapidly evaporating at this point.

I believe they cashed out their BTC when its value was twice what it is today. That's a considerable advantage that probably outweight their mold issue, if they don't have another major problem soon. And if they are legit, of course.

Well its not necessarily a scam, but yes I was thinking the same thing. They cashed out that bitcoin at the top and they took in roughly 100 btcs. From the pictures ive seen, looks like 8k in growing equipment at the very most. They should have a lot of extra money and they should be paying dividends out of that in the very least. But there is no profits in that amateur tent grow.

Everyone should know the wattage and the plant count at least. I havent read about any of that unless I missed something. I think I see about 8000 watts of flower power. 

P.S. Those LED, red blue yellow spectrums are garbage. Go HPS or go home...how many grows do you see under those BS noob lights...none

There is no need to come on here bashing us bringing negativity to the thread. We had a setback as mentioned due to the mold issue we had. The ari circulation was poor and the problem has been fixed. You are telling me that the grow equipment we have is worth 8K at most? Just the LED lighting alone was worth close to double of what you are claiming our setup costs. Aside from the LED lighting, i have listed the HPS hoods, lights and ballast just to give you an idea of the setup we have. If you add in the cost of the climate controllers, tents, fans, nutrients, etc... there is way more than $8k of flower power that has been invested into this project. If you do some research on the equipment listed for anyone that is interested we have spent a good amount of funds on equipment. Let's try to keep this post positive. I understand there are professionals out there who have many more years and experience under their belt. I assure you that what we have going on is not a scam and dividends will be paid out as soon as we can consistently generate income for our shareholders. We've had a little set back but everything looks good looking forward.

8  X  California Lightworks SolarStorm 880
http://californialightworks.com/product/solar-storm-880/

24  X  Hydrofarm Raptor 8" Hood Reflectors
http://www.hydrofarm.com/our-brands/raptor.php

24  X  Hortilux HPS 1000w Grow Bulbs
http://www.eyehortilux.com/products/High-Pressure-Sodium#shps

24  X  Lumatek Air-cooled Digital Ballast
http://www.lumatekballast.com/products/ballasts/#prod-188

I wanted to post some pictures up to show the steady progress we are making at this moment. We are still moving forward without any major issues. I apologize for the delay in dividends but will make an effort to get dividends out to our shareholders when we are able to. Feel free to shoot me a PM if you have any questions or concerns. Thanks.

http://imgur.com/a/Pzqg1

The first 3 set (3 pictures) of pictures are of our HPS garden that is in the flowering stage. The 2nd set of pictures (2 pictures) is of our LED garden that is in the flowering stage. The 3rd set of pictures (3 pictures) is another HPS garden that is still in the veg stage. The 4th set of pictures (2 pictures) is our room where we have more plants in the veg state.

http://imgur.com/a/HpeWQ

We did end up making both shatter and wax with the last crop. The first picture is the shatter and wax. Also we have some product that is still in the curing process.

The products look delicious.. :)
Thank you for coming in to defend your project from the basher.
And one question: will the profits made from selling the products in the pictures be included in the dividends?

I'm confused because cultivation and sale of cannabis is not included in your plan:
"Our focus is to not directly get involved in cultivating and distributing the actual product."

Thanks for the update. The product also looks good and delicious.

Also, I am guessing the ones complaining are not invested in Cannabit and the ones that are, don't know the risks involved when they invested.  This is not ASICS people. There is no set tape-out date,  board assembly date, etc, etc.  Nature is not predictable, things can happen, they might have bad harvest one day and better than expected the next. So unless you have a helpful advice,  I suggest you don't say anything at all, specially along the lines of baseless scam accusation. Also, the shares are still being traded, so if you don't like where this is going you're more than welcome to dump your shares and go invest in some ASICs that will never ROI.

No one is bashing your thread. Its just incredibly irresponsible to claim you will be advising other entrepreneurs on grows and you dont really know how to grow yourselves. And like the other commenter mentioned, in the IPO it says you wont be cultivating your own. So you have 24ooo watts + some LEDs, and what are your plant numbers? How many can you legally have? These are the questions investors want to know...

As long as you are not bashing and staying positive feel free to share your thoughts. Constructive criticism is always welcomed. Cannabit has invested into several operators/growers for the gardens. Cannabit itself is not directly cultivating our own crop but we are working with the growers who is doing the cultivating and maintaining their gardens. Each garden can legally have up to 45 plants. We currently have 4 fully operational gardens. The current plant count is at the moment is 141 plants combined that are flowering/vegging. This is not including some new seed we planted and clones that have been cut from our mother plant.

If you don't mind sharing the details of your project and how you plan on making it happen i would like to hear about it. Reply back to the PM i shot you yesterday.

So the pictures you post are from the garden you invested in, and thus the profit from these sales will be included in the dividend?
Just want to make sure. Thanks.

Well, then you should really tell how much you have invested in each one and give more updates. Thats a lot more hands in the honey pot and its a shady business already. Ill check out your PM...missed it

Soooo...

Illegal business, incompetent grower, poor lighting conditions... Say no more... Investing now!

Illegal? Did you miss some news?

I most likely did... Would you enlighten me please?

The grow operations are located in the state of WA where it is legal where Cannabis us legal for recreational and medical use. The lighting conditions are not poor at all. We are running a garden with 8 x LED lights from one of the best LED grow light manufacturers in the industry. For the other gardens we are running top brand reflectors, light bulbs & ballasts. Please point out how this is illegal and why you feel the lighting conditions are poor.

Replied back to your PM. Keep in touch and thanks for the response.

Oh, my bad... have not realized you guys are in WA... From the construction photo a while back it looked like you were adopting dark and humid WWW II underground bunker. Definitely get a few shares.

Awesome. Check out the new pictures we put up recently. Will continue to post more pictures every other week as we make progress. Thanks.

http://imgur.com/a/Pzqg1

Hate to be a dick like this but when can investors expect the first dividends? It seems the first batch went down the tubes since the wax seems to have not moved, and now this batch seems to be going steady (which is good). So if this batch goes according to plan, should we expect something in Mid-May/early June?

I am working on paying out the first dividend in April. It is not going to be a huge dividend by any means but i do want to get the ball rolling to show we are making progress. After the April dividend i would say the next dividend would be June. I will keep everyone updated on this. Thanks.

Thanks for the reply Cannabit. I know we've been getting on your case about dividends. But everything in the crypto community is about now, now, now! And it's hahard to see the benefits in holding something that isn't paying off immediately.

I think divs are being used as proof of legitimacy as well.

Cannabit... what limits the size of the gardens? Today i saw a grower in colorado? who targets to be the first billionaire in the US from growing. He had a really large tent with probably thousands of plants.

Since the work most probably isnt linear growing with bigger tents... why can he have such big tents and cannabit cant?

By the way... they claimed that his weed is taken from his hands fast. So it doesnt look like the market is saturated soon.

Pictures do look pretty... Got some shares. Good-luck C;)

Its because they are in washington, and the max is 3 Dr's recs and 15 plants per rec. So they can legally only do 45 plants

Thank you for your understanding. A business that operates in the non-bitcoin economy does not generate revenue and dividends like a ASIC mining or a bitcoin gambling venture would. I hope people can see and understand that.

You got it. Each garden can legally have up to 45 plants. That is why we operate multiple gardens to stay within the legal limits.

Then you should expand in countries with more freedom soon. :) Cost and work for 10 small gardens for sure is higher than the cost for 1 big garden that contains 10 times as much plants.

I would like to know that as well.

We've contacted CryptoStocks in regards to this and they are concerned that we have not hit our dividend pay out date as originally planned. Just waiting to get a response back from them to put us back into good standing. Will keep you guys updated.

You are actually able to get them to answer you? It`s the guys from vircurex, isn`t it? I just skipped over the cryptostocks-thread and I won`t open an account there for sure. The support response seems to be miserable at best (if not non existent).
Are you listed on any other exchange?

Sooo, how are we doing over here? Is our investment going up in smoke (figuratively speaking) ? Lol

Everything is moving along smoothly at the moment. Will have a more detailed update with pictures on or before Friday. Got a update from one of the garden operators and he is finally going into flowering tomorrow and that particular strain has a 50 day flowering period on average. We will have another garden that will soon go into flowering within the next 1-2 weeks, before the end of April for sure. Things are moving along and the plants look really healthy for the two gardens i mentioned. The third garden is still in the vegetative stage and we are less than a month out in regards to putting that batch into bloom.

We have responded to Cryptostocks and they are reviewing our forum thread and we should be back into good standing on the exchange hopefully before the end of this week. We are going to be paying out a small dividend before the end of this month to help regain investors confidence as it has been a long time since our first dividend should have paid out. We will soon be at maximum capacity for all of our gardens which i am really excited about. I will have pictures taken and will show a up to date progress on how the gardens are looking and will continue to communicate with everyone as we move into the next harvest. Thank you for your patience and if you have any questions please feel free to reach me via PM.

We have not had any issues communicating with CS since the beginning when we first asked to be listed on the exchange. We are currently not on any other exchange but we are looking to eventually move into something decentralized as soon as it has been tested and safe to do so.

We are planning to pay out dividends before the end of this month and CS is aware of this. Our goal is to keep dividends consistent as much as possible in the near future.

Ok, sounds good... Update is appreciated!

Looking forward to it - might have bought a bit more than I'm comfortable with, at the current ridiculously low prices ^^

Got an update from our growers. Here are some pictures of progress we are making. Here are some pictures of two of our gardens. One garden has already moved into flowering.

http://imgur.com/a/1EYBH

The next set of pictures here are from another garden that is still vegging but will be moving into flowering next week.

http://imgur.com/a/LxPIq

In one of our other gardens we are looking to start harvesting in about a week or two. Will keep you guys posted on that. All the plants look healthy and strong. We are not seeing any issues with any of these gardens at the moment. Dividends are schedule to be paid next week at the beginning of the month to show good faith. It looks like we are on track and going to be hitting maximum capacity on all of our gardens starting next month. If you have any questions feel free to PM me. Thanks.

Is that some strain of OG?

The garden in the bloom stage is called Dynamite and the other one that is still vegging all Dirty Girl.

Dynamite - http://www.leafly.com/indica/29aca226-23ba-4726-a4ab-f3bf68f2a3c4
Dirty Girl - http://en.seedfinder.eu/strain-info/Dirty_Girl/Kingdom_Organic_Seeds/

Perhaps making an annoucement on Cryptostocks about the recent developpements would be a good idea, since not all of your potential investors are aware of this thread. This would encourage some trade activity on your share :)

By the way, as usual, your pictures are beautiful.

We are going to be paying out our first dividend today. This will be taken care of within the next couple of hours later on this evening PST. We are going to be working on paying dividends every 1st of the month. Our priority will be to make this consistent along with the higher dividend payments going out month after month. I apologize for the delays and obstacles that we had to overcome since our launch. We will make sure we continue making this a safe and profitable investment. Thank you for your support. If you have any questions feel free to PM me.

Glad to see you guys keeping your word on that-

5 bitcoins, not a bad divy

That's cool, thanks for giving a concrete evidence that you are trustworthy and competent.

Hmm, allright C - took this game up a notch. ;)

Can you trade that share anywhere else than cryptostocks.com? Isn`t the exchange tied to the vircurex founder?

At the moment we only have shares listed on Cryptostocks. Once there is a better platform to trade on we will be taking a look into making the transition. Thanks.

Week 20 Update

Just wanted to touch base with you guys. We are still making great process and we are halfway into flowering for one of the next gardens up for harvest. At the end of this week one of our growers will be finishing up our 4th week of flowering in that garden. We have two gardens that has just entered the flowering stage both last week just to give you a guys a rough timeline of when the other gardens are expected to harvest. The last garden is still in the vegetative stage and we are looking about a month or so until we can switch it over to flowering. We are not experiencing any issues and we are smooth sailing. We would like to hear from anyone that has feedback or any questions. Feel free to PM me. Thanks.

Great! Are there any plans for expansion or are you guys going to be focused primarily on refining the process as much as possible?

As of right now we are going to focus on what we have going on for at least another harvest after we go this this cycle. We want to make sure we are producing at maximum capacity before we look into expanding. We've had some bumps along the way which set us back and we want to make sure we are 100% on track with no issues before we level up. Right now our main concern is to make sure we provide consistent dividends to our investors so they can start seeing their ROI. Thanks.

https://www.havelockinvestments.com/ is much better than cryptostocks
Im hesitant to purchase shares purely because its on cryptostocks. I don't trust the cryptostocks management.

Still sailing smoothly? And no problem in view for May's dividends on next week?

No updates?

Smart fella.  As well you should fear the cryptostocks management.  Haven't been able to withdraw any of my coins from the exchange for almost a week now and seemingly no interest on the part of Kumala to get the issue resolved (so it appears).

*Here's to hoping Kumala doesn't end up pulling a ghost move on us...or worse yet, a Karpeles hack gambit!

Week 23 Update

Here is an update for the month of June. In regards to dividends, it looks like we are going to have to aim for a payout every 2 months for the time being. The reason for this is because it takes 8 weeks of total flowering time and for a garden to be harvesting. Once the plants are cut it takes an additional 2 weeks for drying and curing before the product is ready for the dispensaries. Given this timeline, we are going to have gaps for the next couple of months. Once we start cycling through the upcoming harvest we should be able to see dividends being paid out on a consistent schedule. From the beginning of flowering until the flowers are ready takes about 2.5 months on average. Here is the timeline of our gardens below. Feel free to PM me if you have any questions.

Garden Timelines

We have a garden that has just finished the 6th week of flowering and we are now in the late blooming phase. Once the plants have been cut it will take an additional 2 weeks for us to dry and cure the product. We will have a new batch of plants entering the flowering cycle soon after the garden has been cleared out.

We have two gardens that are now in the 3rd week of flowering and these two gardens will be harvesting in about 5 more weeks. These two gardens look good and everything is going according to schedule. Once the plants have been cut, an additional 2 weeks to get the flowers dried and cured. A new batch of plants will be ready to enter the flowering stage soon after the garden has been cleared out.

The last garden will be entering the flowering period in 2 weeks as it is still in the vegetative stage. We are expecting about 10 weeks before we will be able to harvest this garden.

All gardens are in full capacity and we do not have have any issues at the moment. Everything is looking good.

Thanks for the update! Any profit estimates?

Please hold off on making any Div. payment until they fix the wallet issues. Appears BTC deposits and withdraws are not working. Also, time to look for another exchange or go direct shares for now. At this point I don't trust CS at all.

Thanks for the update as well.

Crypto::Stocks wallet issue(s) have been resolved for quite sometime now.

*Can't wait for those dividends to start a flowin ;)

Its correct. They have problems that remain some weeks and then they fix it again. But this repeats again and again so that i dont really trust it very much. The site owner wrote me that normally he gets an email when the wallet has problems. But the problems are different this time so that it doesnt trigger emails. I only hope its not the same technical problem that brought weexchange down. Thats why i dont like CS so much anymore.

Other things are the lesser security with 2FA compared to other sites that use 2FA:

* 10 override codes for 2FA, which means bruteforcing a login is 10
times faster and easier. Normally it would be only needed to note down
the authenticator key to ensure being able to login when the smartphone
is lost. No extra keys.
* 2FA only is needed for logging in. After that a hacker could sell
shares and withdraw without problems.
* Disabling 2FA is done with a single click and it doesnt need a
2FA-Code inserted too.

2FA is way less secure on that site. I already wrote that to the site owner and he promised to think about the 10 override codes at least.

Whats the point of 2FA with override codes?

These are quite useful if you lose your phone, and I'm quite sure they can't be exploited if you store them securely (offline).

No, they are a security risk only. IF you want to make a precaution for losing your phone then one should note down the 2FA-Code that is shown when you enable 2FA. Its 10 signs or so and allows you to recreate the 2FA-Settings on a new phone. I did this 2 days ago on all sites that use 2FA because i have read that some website owners DONT want to set back 2FA only because they are asked to. Losing phones could be a hacker too that hacked the email account. Thats not what 2FA is for the website owner said.
In order not to risk my coins i dis- and reenabled all 2FA-Accounts. Thats why i found that only CS has such security flaws implemented.

They way they handle it means only that a hacker has 10 times faster bruteforcing an entry into ones account. And since inside there is no 2FA-Protection anymore he could clear an account instantly.

So 2FA already have something to ensure access when you lost your phones. Override codes are a risk only.

+1

Could we please have pictures of the harvest? It's been a while now.
Also, any update on June's dividends?

Thanks.

Also interested in an update.  Getting a bit anxious given how long it's been.

PS: any plans on accepting Potcoin for purchase of your wares? :)

I guess that would mean risking the project since cannabit would have to check if its legal in the target country or risk going illegal. And till now they didnt mention they want to go into enduserbusiness. Would mean much more work. Not only selling but checking legal things, packaging costs and and and.

Agreed it would be nice to hear from them. Happy 420 posts nwfella :)

Yes, especially considering CoinReturn was lately revealted to be a scam.
However, Cannabit probably is not. If they were, there would have been no reason to update on the second week of June long after their last dividends and the end of their IPO.

Yo Cannabit dude wake up mein.  21 days since you've even logged in?  I take it the last crop is done and straight up fire :)

Where's the pixel-porn mein?  Div's?

The last thing i heard from someone who spoke with him last week was that he is busy with the current harvest. I think it would have been better to post a short update in the thread instead but maybe next time.

@SebastianJu:  There's another upstanding US pot grower offering shares:  ⋆⋆⋆⋆฿itcoin฿udz⋆⋆⋆⋆ Emerging Market IPO (https://bitcointalk.org/index.php?topic=664662.0)
Not quite as grand a scale, but prob'ly just as trustworthy.
Still keeping in touch with Jon?  Everything good on that front, at least?

Im not yet convinced from the other offer. On top i know and trust the other issuer. I guess i wait how it goes, maybe later.
Jon... last contact 6 days ago. But ill try to reach him again.

I'm under the impression that there has been big problems with the harvest and he's delaying to share the news as much as possible until some better ones come... Or perhaps he has abandoned.

I'm glad there were buy orders for me to panic-sell to.

Lol, Bitcointalk playvestors continue to ponder the eternal enigma: "Sent monyz through intertubes to srsly legit d00d. He vanish. How?  Why?!!"

I saw the best minds of my generation finance revolutionaries destroyed by madness, starving hysterical naked,
dragging themselves through the negro streets at dawn...

I am not putting down his operation in the least bit it looks really fancy, but unless he decontaminated everything involved in that first mold grow. He just infected every new plant with the same spores, what comes to mind first is, he did not take apart and clean the can fans, duct work and carbon scrubbers. In good practice the whole room should have been torn down scrubbed with H2O2 to kill off any of the mold. The more serious issue I would hope he did not encounter was mold in the buildings HAVAC system.
http://ecx.images-amazon.com/images/I/41-empeJBdL.jpg

A environmental room test should always be done to check temp/humidity/lux/mold and mildew tests before you even bring any clean grow equipment in.
I keep a box of these in my closet just for that reason
http://ecx.images-amazon.com/images/I/81IXVlA9XOL._SL1500_.jpg

The plants look good an healthy in most of the pictures shown though, I wish I could see what the problem area looked like I might be able to help him narrow down what is wrong.

Whatever it is he needs to get on here ASAP and clear up some of these rumors.

Monthly Update - July 2014

I have been very busy managing and making sure that all of our team members and gardens are doing great. We just finished up one of our harvests and there was a lot of work that had to be done from trimming to getting it ready for distribution. I've received a lot of good reviews and positive feedback from the last crop. We've really stepped up our game and it looks like Cannabit is going to have a great year. Take a look at the pictures below.

http://imgur.com/a/Ac3rB

Harvest

Thank you everyone for patiently waiting for the update. I am very excited to update everyone here today. Things are moving along very nicely for Cannabit. One of our first gardens has finished harvesting. The plants were cut about two weeks ago and we just finished drying and curing the flowers. This was our first successful crop with no issues at all. We only had a little bit of a heat issue as it is summer our garden had several hot days but other than that it did not affect us too much. We wanted to have the flower cleared out and moved out to our various access points before the 1st but we were not able to hit that target date. Starting this week we will be moving out product to our distribution channels. Due to this delay we will have to delay our dividends again. I really apologize for this as i know many of you have been waiting patiently.

Garden Timeline

GARDEN A - The recent garden that just harvested has started a new cycle last week with a new batch of plants that is beginning the flowering cycle. This garden will roughly take about 8 weeks for it to harvest again. The plants are looking healthy and things are looking good from here on out for this garden and it's next cycle.

GARDEN C - The last garden that was mentioned in last month's update has also entered into the flowering cycle. The garden mentioned up above and this garden are running on the same schedule so it will be about 8 weeks until this garden will harvest along with the new garden that started it's flowering cycle. All the plants are healthy and everything looks good.

GARDEN B & D - We currently have two gardens that is going to be harvesting in about 1-2 weeks. We are going to start flushing this week and the plants will be cut down soon after and will be dried and cured.

Now that all the gardens are pretty much dialed in we will continue to use the same formula and method to keep things moving along smoothly. Now our main priority will be to get dividends out consistently.

Dividends

I apologize for the multiple delays we have experienced with dividends. We are really trying to lock down a dividend schedule and keep it very consistent but looks like our timeline is not as accurate as we want it to be. With mother nature it is very difficult to time everything perfectly. If you take a look at our garden timeline we try to give everyone a rough timeline of harvest times and we are in the ball park area. After harvest is completed we have to move the product out through our distribution channels which can a few days to a few weeks to clear out that crop. I can assure you that dividends will be paid as soon as possible and since we have harvests coming up every 2 1/2 months it will definitely get more consistent. I will post up another update within the next 2 weeks and hopefully we can get a dividend paid out around that time. Thank you for your patience and understanding.

Nice to see you back cannabit.  Appreciate the update.  Pictures look pretty damn amazing I must say!  Looking forward to seeing this thing really take off.

Will be trying to pick up a few more shares "on the cheap" ;)

Nice crop! Congrats Harvest is my favorite time!

Once Cannabit pays out divs regularly the only thing needed would be a decentralized exchange to take away the risk of normal exchanges. Is there still nothing available that works fine?

There is counterparty and a friend of mine traded there once :D. Doesn't qualify for "works fine".

The buds look great. Keep it up.


Thanks for the update.

Is it just me or is Crypto::Stocks not displaying anything under the [ticker] column when displaying active order(s) you have in the system for anybody else?  I have several open buy and sell orders on various stocks and now can't tell which is which at a glance.  I'm wanting to cancel a couple of orders to I can add another buy order or two on cannabit :)

The 10 BTC buy order at 0.000420 is quite appropriate ;)

I was wondering who that was :p

Sold 5 CANNABIT@0.00049 (Total 0.00245 BTC)

U/re welcome  :)

Looks like this project is about half a cunt-hair away from being delisted on crypto::stocks.  Currently grey listing :/

It has been that way since February, if I remember correctly.

^It's a meaningless rating, AFAIK.  RETURN, for instance, went dark, stopped paying divs, and is trading @<1% of issue price, but is currently in good standing.

Thanks fellas.  Think I just needed "meditate" a bit and calm myself.  I think your right about this being the status for sometime now.

Cannabit MIA :/

NW, try to PM him if you have a question... He is not a frequent poster and I think he prefers personal touch rather than posting updates on a public forum.

I feel like the point of a public forum is to post things that everybody can see so you can answer as few private messages as possible. Oh well, different strokes for different folks.

Anyways, it's nearing 2 weeks, would you be able to give an update on how everything is progressing?

I've had answers on Cannabit's IRC channel in the past.
(#cannabit)

You know who else could be reached on IRC?  https://bitcointa.lk/data/avatars/l/32/32477.jpg?1393510329
Ukyo! :D

Any news ? the "two weeks"(BFL ©) are over

In a PM to me he said that next update would come early August. That will also be the time when the next dividend is due I guess.

Jeezy, do you know if he just doesn't like giving updates on the forum, and if he doesn't, where would we go to get any updates? The IRC channel is pretty dead. Is a PM the only way?

Well I guess they are just busy. Logging in and checking the thread every now and then.

Alternatively you can mail them at cannabit@bitmessage.ch

Cool, thanks.

We are supposed to get paid today, right? Where are you cannabit?

Monthly Update - August 2014

Thank you everyone for being so patient and also for the continued support. We had another busy month and the operation is moving forward nice and steady. Aside from hitting some high temps throughout these summer months we are not experiencing any major issues. We are going to be paying out last months dividends this coming Monday. I know it has been a long time coming but continuing from here on out i think we've hit a point where we will see much more consistency from our gardens. For those of you that have believed in us from the beginning and put your faith in our business and integrity we want to thank you. I understand actions speak louder than words so we will let the future dividends speak for itself. Thank you for all the PM's and understanding for delayed responses at times. Feel free to reach out via PM if you have any questions.

Harvest

We are harvesting two of our gardens within the month of August. One of our gardens is actually ahead of schedule which is really good news. We will have another garden harvesting in early Sept in about 3-4 weeks. I will keep you guys posted and will give you a better timeline as we make progress.

Garden Status

We have one garden that is going to be starting a new flowering cycle this coming week. The other gardens are fully up and operational at the moment. No issues to report at this time aside from little heat spikes throughout certain hot days. Two of our gardens are currently using co2 and we are having great results. We will add in the co2 setup to the other two gardens the next round they start flowering.

Updates

Updates will be posted at least once or twice a month here on the forum. Other than the monthly update there will be no further updates unless it is something very substantial and important. If you have specific questions or concerns please reach out to me directly. There is really not much to update as we are just going through cycles. We will provide information regarding dividends and the status of our gardens which most of our investors are concerned about on a monthly basis.

Thank you very much for the update Cannabit.  It sounds like things are running smoother all the time and looking forward to Monday and your next update.

Keep up the great work! 

Thanks for the update!

Question: Do you guys think you can get one harvest/dividend per month going regularly in the future?

If we can time everything perfectly i would like to say yes but i think it would be difficult. The reason for that is because we are dealing with mother nature. Even though we are operating out of a controlled environment it is really up to the plants for them to do their thing. Flowering time on average is anywhere from 8-9 weeks depending on the strain and conditions. After that the plants need to be dried for at 4-5 days then cured for at least 1 week or more for the product to be ready. At that point we supply to our outlets which can take a few days or up to a week depending on when product is needed. I think it is safe for me to say every 2 months we will have dividends for sure at this point. It might be possible for us to hit our goal of monthly dividends if time is on our side. I hope this helps answer your question. Thanks.

Are there any upcoming plans for expansion?

At this time we want to make sure that we are on point and making sure we can pay out dividends on time and keep things flowing nice and steady. Our primary concern at the moment is making sure that our investors start seeing returns before we move towards expanding. For the rest of the year we want to make sure we don't run into any obstacles that might set us back. Expanding is definitely something we will be thinking about in the future and we will want to make a decision after discussing this topic with all of you here. =)

Sounds good to me!

Glad to hear things are moving along nicely.

I like the fact that you keep posting/updates to minimum, trolls have grown in numbers and skills lately, we don't need to feed them.


Thanks for the update and your commitment.

Thanks for all the info. Really nice to see the project is on good track! Keep up the green work  ;D

Quick update on the dividend payout. We were not able to get the USD converted into BTC as scheduled on Monday. I am re-scheduling to get this taken care of as we were not able to meet as planned. This should be taken care of within the next few days. Thank you for your patience.

Take your time, BTC might be at $550 in couple of days ;)

Hmm, so I'm guessing you do person-to-person exchange (dark alley, flashing headlights, obscured faces of dark silhouettes sort of things).

Very romantic :)

As long as the dividend pays out soon I don't mind how they do the exchange  ;D

So, any update on this dividend that should be coming our way?

Nope, it's been 10 days since last contact and 4 days since dividend target (Monday originally). Maybe they just take longer than expected or they were waiting for the dump to get more BTC/$. I guess we will be hearing from them soon.

Well the dump has already happened, a BTC was worth almost 600 less than a week ago.

Last time they missed dividend target, it was to announce later that it would come a month later instead. And the next month, it never came either.

So this was another scam?

Difficult to say D... CO was never good on delivering DIVs in timely manner. If it's not a scam then it's possibly incompetence or miscalculation, etc. I've noticed a lot of this happening with my CryptoStocks holdings.

Appears as though cannabit was online as recently as a couple of days ago but hasn't posted anything since the 5th.  :/

Finally! Dividend was paid out last night.

@Cannabit: Any chance of getting a detailed dividend breakdown?

+1
I guess having a bit of patience paid off!

Monthly Update - September 2014

Dividends were paid out on the 1st. I would like to thank everyone once again for their patience for the numerous delays we have been experiencing with dividend payouts. I would like to say moving forward that we won't be experiencing any more delays. As time continues to progress forward things are falling into place and the pieces of the puzzle continues to match up perfectly. The next dividend payout is scheduled for November and will be paid out as usual on the 1st. Starting December we will be able to make an effort and move towards monthly dividend payouts. At this time we are still going to be paying out dividends every 2 months until then.

Garden Status & Harvest

Most of the gardens are still on schedule. On one of the gardens had a down time of about 2-3 weeks due to new veg plants not being ready for flowering. We tried to time things perfectly but looks like we did not time this one as accurately as we could. We have 3 gardens in full production at the moment and the last garden will be fired up at the end of this week which puts us back up at 4 gardens in flower mode. We are expecting a harvest from one of the gardens this month and two gardens will be harvesting in early October. The last garden we are firing up this week is expected to harvest in November.

Updates

Once again we will continue to update once or twice a month depending on any substantial news that affects Cannabit. I will be responding to all PM's in my inbox. If you have any questions or concerns please feel free to shoot me a PM. Thanks.

Thanks for the update and the sizable dividend payment cannabit.  Glad to hear you guys are getting your operation running like the well oiled machine!  You guys keep up the good work now ya hear? 

Have you think sell your shares in Counterparty platform? Very easy if buyers can have assets in own bitcoin address and use any wallet what want and still receive payments.

https://bitcointalk.org/index.php?topic=395761.0
https://www.counterparty.co/

With the current bitcoin price going down slowly i would suggest sending out divs as soon as the profit is made by cannabit. Changing USD to BTC and sending out a div regardless of time and date. Otherwise you would have to keep USD, which might not be a problem, but holding BTC can be a problem. Seeing that the Bitcoin lost 27.44% of its value in the last 30 days it would mean a big hit for divs value if BTC were hold back for such a time only for being able to pay out divs then.

Yes, im a fan of bitcoin, but im in this as an investor.

Hear hear! Everything is on schedule, right Cannabit?

Dont understand my post the wrong way. As far as i know everything is on track and it might get better (ill better remain vague... ;)). I posted this only here to see what other investors think about it. I imagined that cannabit might hold btc for a month only for being able to pay a monthly div. I could have checked that directly but i wanted to see how other investors react. ;)

Well if you can't reveal anything I guess a PM to Cannabit is in order!

Yeah that would make a lot of sense actually. But I doubt they will do it. Obviously the timeframe for conversion is limited to the harvest sellout. Until then no money can be converted because there is none. The only thing they could do is to keep the fiat after a harvest and wait for the price to go up/down again, which none of us shareholders wants I guess. So yeah, everything stays the same.

I love seeing all of these harvest photos!!
My favorite strains in this order
OG Kushhttp://www.topdank.com/og-kush-marijuana-strain-information/ (http://www.topdank.com/og-kush-marijuana-strain-information/)
Blue Dream http://www.topdank.com/blue-dream-marijuana-strain-information/ (http://www.topdank.com/blue-dream-marijuana-strain-information/)
Jack Herer http://www.topdank.com/jack-herer-marijuana-strain-guide/ (http://www.topdank.com/jack-herer-marijuana-strain-guide/)

Yes, everything is on schedule and we are looking nice and solid. =)

Just wanted to let everyone here know that we are still on schedule and everything is looking good. Every harvest is looking better and better. All PM's have been answered and will have a monthly update posted on the 1st of November. Also, dividends will be paid on the 1st as well. We just finished up another harvest this week so things have been busy on our end. Feel free to PM me if you have any questions. Thank you everyone for your support.

Thanks for the update. Let's see if we will see dividends on time  ;)

Some news (and actually the divs) would be really appreciated.

Hey guys, I just wanted to say we offer online medical marijuana growing classes and live support if anyone was thinking of giving growing a shot. The school is also home to The Bitcoin Museum in Orlando, Florida. So we prefer bitcoin as payment. Medical marijuana didnt pass today, so we still need to bring in revenue to keep the lights on somehow. You can check out the site if you would like.

www.mitnow.com



Bitcoin Museum
http://www.reddit.com/r/Bitcoin/comments/2k5xa6/stop_by_the_bitcoin_museum_in_orlando_fl/

Any updates? 1st of November....  ::)

Montly Update - November 2014

Dividends

There will be a slight delay in converting the dividend into coins. Most of the crop was converted into cash but we still have half of the crop that is waiting to be distributed. We will have everything converted this week and dividends will be sent out as soon as that is taken care of. Thank you for your patience everyone.

Garden Status

All gardens are running at full capacity and since it is getting colder here up in WA the plants are enjoying the temps in the flowering rooms. All the rooms are dialed in with no temperature, bugs, pest, mold and mildew issues. We are starting to experiment a little bit with new growing techniques as well as nutrients to help increase yield and quality of the flowers. We are also working with an extraction company to convert our flowers into THC vape oils. I will keep everyone posted on this. We will have another harvest upcoming in December so look out for another dividend payment on the 1st of January 2015. Starting 2015, we will have consistent dividend payouts every single month. It is something that we have been trying to do all along but i  think we are finally on schedule and have the rotation perfectly timed for on time and consistent dividend payments. For those of you that have been on the ride since we first started Cannabit, thank you for your patience and support. PM me if you have any questions or if there is anything i can help you out with.

There are only a few ways to increase yield, and nutrients being utilized isnt really one of them. Unless, you are just using garbage knockoff nutrients. If you would like a video consultation, feel free to reach out at contact@mitnow.com. We could of saved your whole first crop. The winter is great for plants, but it can also bring that mold back. So dont be cheap, and try to save a few bucks. You should hire us as consultants, and there will be no other setbacks. Your investors will appreciate that. Check us out at www.mitnow.com we have over 35 years in the business combined. There is a product that you can use around week 6 that will make the buds explode.

WE ALSO OFFER A BITCOIN AUTOMATED TRADING BOT CLASS - Its perfect for a full time grower, set it and forget it

http://www.mitnow.com/course/crypto-currency-auto-bot-trading/ (http://www.mitnow.com/course/crypto-currency-auto-bot-trading/)


https://www.facebook.com/themmit (https://www.facebook.com/themmit)

https://i.imgur.com/FyqA2A1l.png

https://i.imgur.com/Jm1YUjcl.jpg

https://i.imgur.com/2FNmTTQl.png

https://i.imgur.com/Dii3WIPl.png

https://i.imgur.com/BDI53q5l.png

https://i.imgur.com/DIHtzuVl.png

https://i.imgur.com/v3NtPZXl.png

That sure looks fishy as hell. Cannabit, please stay away from these people.

Yep look very scammy...
Perhaps you should have a look at CannabisCoin if you want to partner with someone.

I beg your pardon...scammy? Were your referring to me?

Are you referring to me being scammy?

Yes. Your status here, the overall makeup of your website and the fact that you open and aggressively advertise your services in here has a certain stench to it.

Just because I dont spend my days on a bitcoin site doesnt mean I should be taken as scammy. My passion is marijuana, not bitcoin anymore. Bitcoin's been boring for a while honestly. How is my website scammy, first of all? I think all you people are just too damn paranoid for your own good. I saw the first crop was a total loss because of mold, so I am offering my expertise. This guy is obviously an amateur grower, so if hes playing with your money; I would think you would want everything to go as smoothly as possible. You are welcome to come by the school, and visit the bitcoin museum anytime. The address is listed. Check out the Facebook page...I just opened a few days ago.

Scams dont usually get these kind of weekly stats...
https://i.imgur.com/3bSYws6.png


Just ask the grower to run down the products he is using, and Ill tell you whether or not I can add value. But I definitely know what can be easily done to increase yield. Im just not sure this grower is experienced enough to handle it.

So it's Saturday, were the coins able to be converted yet?

What a surprise, Cannabit is late with payments again. What's the excuse this time?

Im sure there is none...just an amateur hard at work

@cannabit: Any update on the current status of the farm and on the dividends?

I'm betting some "unforeseen" incident cropped up. If the average small business is run like this then it's not surprising that so many of them go out of business within a few years of opening.

Perhaps the SEC or some other state securities regulator contacted him for failing to file his offering at the appropriate venue.

Say he was a compliant grower in a recreational legal state such as Oregon, Washington, D.C., etc. Would he be violating federal law if he issued and filed securities legally with a state entity and allowed only investors from states which recreational marijuana is legal to invest (assuming they meet the accredited status set forth in such securities laws)?

Would a federal agency have jurisdiction then if said security qualified for the appropriate exemptions to not be registered with the SEC?

I'm shocked this is still around, for sure thought it was a scam awhile back.

What ever happened to that porn or cam site investment that guy was providing huge dividends returns for? Not the klye or other "startup" idea pitches. Did he end up being a scam?

Of course it did.  Along with his "Appliance Store, legitimate offline business." 

Well this certainly sucks.  Really had high hopes for this one. :p

So it's been nearly 2 months... any updates?

Chill brah, you're killing my buzz.

Happy New Year!

I hope everyone is off to a good start this year. We are doing well on our end here. Sometimes they say no news is good news but at the same time i understand that i have been away from the board for long periods of time and many of you probably feel anxious about updates and dividends. Starting this post i will make it a effort to start keeping in touch with everyone more frequently. We are looking to expand into other projects starting this year which is why we have been holding back dividends.

There are several rules and regulations that will be put into place this year so we are waiting on decisions to be made by policy makers so we can move forward with our plan for expansion. It has been about a year now since we started this project with all of you and i am happy to say that we are in a position now where we can grow this business organically without any debt. We are debt free at this moment and we want to bring our investors a greater return this year by expanding our project little by little playing it very safe. I will keep you guys updated on that as soon as we see regulations being set in place.

We have put the dividend funds into reserve at this point until we are able to navigate through the next few months. If we do not end up moving forward with expanding then we will go ahead and reimburse the funds in our reserve as a dividend payment back to our investors. I would like to say that this year has been a tough one trying to get everything dialed in. It is still only the beginning in the grand scheme of things. We are continuing to learn and expand our knowledge about all aspects of this business. This year will definitely be better than the last and you will see updates from us more often.

Please feel free to shoot me a PM or i'll catch you guys on this thread as i will be following up more often. Thank you.

Happy new year too. Im interested to know if the funds are held in fiat or in bitcoin. If bitcoin i would like to see a signed message for the address holding the coins. And i would vote selling the coins in nowadays times when the bitcoin price is dropping 25% a month or even 10% a day. Only holding bitcoins when paying out divs.

Nice to see your back Cannabit.  Looking forward to hearing new plans for 2015 and seeing where this asset goes.

The funds are held in USD and we only convert to BTC when the transfer is going to be occurring that same day. I hope that clears up that question. A decision will be made within Jan/Feb to see how the funds will be used. Either we will use it for expansion or we will pay out dividends. Thanks.

You could also let your shareholders decide via the Vote feature on Cryptostocks. Of course you would have to let the shareholders know what those plans are to evaluate.

I will keep that in mind. Right now things are not 100% clear which is why we don't want to hold onto it for too long if we are not going to execute a plan soon. I will keep everyone updated once i receive some clear instructions on my end.

To be kind and gentle, (even with the 2 month late in the dividends) is it possible to have a financial update (in $ or BTC) about our investment ?

You cant expand in this game with a dividend payment of a few thousand dollars. You need 10s of thousands to make any significant expansion in the marijuana cultivation business. Debt free..haha, I should hope so. Its not a real business guys...its a hobby that makes some money on the side. Anyone can do it, therefore you wont get any real investors being amateur growers at best.

It would be great to see a little bit of this money on the side ;) especially if they buy BTC now.

I hope they wont. It looks like the market is in some kind of panic. Buying bitcoins now will lead to loss practically sure. Thats why i bought some shares from this venture. Its only losely connected to the bitcoin price.

From experience not anyone can do what we are doing now. Not trying to get too much into detail here but when you are operating with over 100+ lights i wouldn't say we are at the amateur level. When you are trying to build a real it takes time along with the network of people you work with to build the business. All i can say is that we are heading in the right direction and we are working with the right people to make sure we succeed.

I hope you will not forget your investors when you (we) will make profits ;-)

It seems to me a dividend payment should be forthcoming fairly soon.  Or at least some sort of update?  Obviously we are seeing a pretty nice uptick in BTC price.  Would love to hear what's going on cannabit.

The BTC-Price should be unrelated to this investment since its bitcoin price independent. Cannabit doesnt hold coins. BTC are only used for paying out divs. I wonder too when it becomes clear if the new investment opportunity will work or not.

I get what your trying to say with BTC price being unrelated to this investment, but the truth is, dividends are payed out in BTC so it is in fact pegged at some point.  I'm sure most of us would like to see a dividend payout before BTC breaks the $300 mark again (just jumped $17+ dollars I believe on news of regulated Coinbase exchange Lunar launching < 24 hours).

If fiat is ultimately really your only concern I can see it not mattering much, but for those of us interested in increasing our BTC holdings, it matters alot.  If they make a dividend payout of say $1/share when btc is at $270 as opposed to $500 and your goal is increased BTC it makes a difference.

If you want to increase your BTC holdings you should wait in fact until the price is down again. Then you would get more coins for the same dividend. Canna is exchanging the fiat only before he pays out the div. So when he now pays out the div you might get 1mBTC, if bitcoin exchange price is half of the price it is now, you would get 2mBTC. So in amount of coins you would go better with a lower bitcoin price.

Or do you want to bet on a still rising bitcoin price when he pays out now? I think thats risky. Lets see what the future shows.

>when he pays

https://derpicdn.net/img/2012/12/8/175944/thumb.jpg

Definitely see where your coming from.  Guess I'm just stubbornly-bullish atm :)

As far as seeing what the future holds, thats pretty much all we can do until we get word from the horses mouth as it where (cannabit himself).  Hopefully he will be popping in here soon to let us know what's going on.

"I have a bad feeling about this."  -Han Solo

I find cannabit's lack of response...disturbing...

I am altering the deal. Pray I don't alter it any further. :/

LOL  ;D

Earth to cannabit, are you there? Hello? Bueller?  ???

<crickets>

Last Active:   January 17, 2015, 05:12:23 AM

 >:(

Yup...hate to say it but it's really looking like yet another Crypto::Stocks asset has bit the dust.

I wonder if cryptostocks is still a good choice. I mean i sent kumala a pm and an email some time ago. He didnt react. I then read that others have the same problem. Looks to me like he abandoned his exchange. Maybe doesnt bring enough money so i think if this exchange is used then we might be at risk when something goes wrong with a deposit or withdraw. Because we most probably wouldnt get support.

I wonder if its best to move to another exchange first. And then send divs.

I found this list of decentralized exchanges. https://o.info/index.php/How_to_issue_a_cryptosecurity

I didnt even know there are so many. Is there an exchange that we might suggest to Cannabit? (Does anyone know what BTC compatible means? I dont see how bitshares is not btc compatible. Its a cryptocurrency exchange.)

personnaly I wonder if they will show again or if they ran away with our BTC ...

They did not run. I can tell you so much. Though im not sure when we get the next payment exactly.

So far im very sure this isnt dead.

Good news :D I'll wait and see

Yes, i guess. ;) But i think shareholders really should think about moving the security because iam, personally, would see a risk putting div coins to cryptostocks as long as the owner isnt responding.

So what are shareholders thoughts about this topic?

At this point I don't care. How do you know that this isn't dead?

You are in this thread... so i think you care at least a little bit. ;)

I dont want to go into detail about why im sure because i wouldnt like to risk anything but if you get a collected dividend then you might want to have this div being safe. So thinking about a safe exchange is worth it in my opinion.

When i write this... im very sure but knowing is a big word. So just in case im wrong i now will claim that i dont KNOW. I dont have influence in this and i know what happened to those who were fans of projects that went bad. I dont want to be one of those. So just in case, dont take my word for an advice. I dont KNOW it. But i have reasons to be sure.

I also think that moving out of cryptostocks would be a good thing, I don't really trust them. But what are the alternatives ?

The same way he knows that Ukyo is going to pay him back. Because hope is the last thing to die.

I dont care what you think. You are one of those who dont check things. They go the easiest way which is claiming that someone is the scammer.

Im working on other scam attempts trying to solve them and because of that i know way more than others. Because i investigate and find things out. I dont care what some stupid scam-cryers do. They wont have a chance at all. I decide based on what is the best way for my own funds. So i dont care about the whiners who will never reach anything with their stupid easy way, which in fact is no easy way.

Might be that most scams wont find a solution. But at least im not going the easy route.

Cannabit is nothing near a scam. And i dont care if you believe me.

I dont want to discuss with you because i have better things to do with my time. So welcome on my ignore list Mr. Easy Way. Its not because of this post, its because i know you from before too. You are far away from productive. And i have better things to do than dealing with unproductiveness.

Not sure what you want me to do, fall for every scams & then pretend that I haven't been scammed? Should i stay in denial for years, chatting with my scammers on IRC?
Like you?
Just seems pointless and stupid to me, but hey... different strokes, I suppose :-\

Definitely agree with Sebastian regarding getting cannabit out of CS as quickly as possible assuming it's even still active.  I hope your right about your hunch good sir.

FYI, one of the only other 'legit' assets on CS sent Kumalah a request to drop IPO flag months ago and he never responded.  Because of this, the asset (AUTOTRADE) decided to write their own asset management system directly into their arbitrage trading system.  Kumala still hasn't gotten in touch with them regarding delisting from CS so I suspect he has pretty much abandoned the exchange, which means we are all at risk until we are off this exchange.

I think so too. Though  cannabit chose cryptostocks at that time because they allowed to download a list with the shareholders. At least thats what i remember. So moving out from there would be possible without many problems i guess.

A move would mean all shareholders would have to register at another exchange or download a software like open bazaar.

As far as i see NXT and bitshares.org are the most used dezentralized exchanges nowadays. But i really dont have experience in those so that i could suggest that taking this or another one would be the best choice.

SebastianJu Kumala really has been very unresponsive for over a year, only fixing some of the bugs on cs but he has very unresponsive to peoples emails or questions on bitcointalk, the way he has operated in the past is far from good, he issued stocks in Vircurex exchange without mentioning that they was several thousend btc i the red at that point, then they lost even more in later problems and he later confiscated traders funds on vircurex and he havent payed dividends accourding to the contract in the Vircurex stock for years.
The cryptostocks site cant be generating much profit for him now either as there is hardly anyone registering any new stocks there theese days witch probably was the biggest income before at 1 btc a stock, they only take 0.15%*2 on trades so it only comes down to something like 30 btc*0.30% = 0.090 btc a month in income from that now, maby they make a few hundred btms from withdrawal fees as they most likely pay less in network fees than 0.005 that they take out, but that cant add up to so much either.

I tried contacting him on vircurex too some time ago. It seems he has abandoned that as well.

Though even someone who claimed that he knows kumala did not answer. I did not want support, only had a question on behalf of LCSH, the shareholder group hunting the labcoin scammer down.

From bad to worse it gets.  -yoda

Any updates? No activity for over 4 months. SebastianJu could you try to reach em and ask for an update?

Especially on the Cryptostocks situation. The shares should move to Polo / NXTAE or something equally "safe".

Im not so happy that he didnt get back to me lately. Last thing i was told was that he now works fulltime on cannabits core business. He liked the idea of going decentralized and more private than this forum and asked me for suggestions he can look into then.

I would like him staying in contact more but it seems he does not yet see the importance of that. Otherwise he would.  ::)

Is poloniex decentralised? I think he would prefer NXT otherwise. With NXT you mean the normal NXT-Exchange right?

I will try reaching him though.

Well at least there is some kind of communication. Please try everything to get hold of him and tell him it's kinda urgent to make the asset move.

Poloniex is centralized of course becuase its also an exchange. Pro side is that the assets are traded in BTC and it's kinda "stable and safe". And you could directly trade for altcoins too. Contra is that it's centralized and got some fees to it I guess. (don't know the exact numbers)

NXTAE of course is totally decentralized and pretty easy to use with the dividends plugin where you just enter the amount and it does everything on its own. Pro is it's probably the most safe and secure solution. Contra is it's traded in NXT but conversion of BTC<->NXT is pretty easy and with SuperNET client even included in the wallet.

How's it hangin', Sebastian? How does your garden grow?

http://img2.wikia.nocookie.net/__cb20100622170635/muppet/images/f/f5/Little_miss_muffet.JPG

NXT sounds fine then. I never used it yet personally and of course i dont have anything to explain to him about how he could set things up there.

Maybe he fears all the work he had to put into in order to understand the system and setting everything up. When i read you mentioning plugins then this might be a valid thing.

Do you know things there very well? If so, maybe it would speed up things if you could give something like a short tutorial or so. So that he can see its easily and fast done. No problems moving there or so.

He could proof that he is the real owner of cannabit by verifying an address bound to cannabit AND include something unique to the nxt asset in the message. Then no one can copy it and fake it easily.

So far i have the impression its time mostly that is a hindrance. So if you feel like it, maybe this could help.

Guys,
This thing has been going since 12/2013 and has paid two tiny dividends. Put a fork in it; it's done-

He got back to me and apologized for not communicating. He wants more information about NXT since he wants to make the switch as soon as they allow to list. He would like to get more information. So jeezy, maybe you can help with that since you have more experience in it and the things you mentioned sound like experience is something needed?

Regarding div payments... he writes its still about the projects where they still not have decided if they should move forward with.

I asked him to put some time in for communicating with shareholders too.

Can you talk to him and ask him to set up a time to talk to shareholders? While I'm glad that some information is getting out through you, I would like to talk to him and ask him some questions.

Well it's quiet easy actually. Just create an NXT account and create the asset. It costs 1000 NXT tho. The are also smart contracts on SecureAE but I haven't used them yet.

Tutorial: https://wiki.nxtcrypto.org/wiki/Asset_Exchange
Read and check video: http://www.secureae.com/
Here is a secure and fast offline/online wallet: http://jnxt.org/jay/
Check current assets: http://nxtreporting.com/

Note: I would ALWAYS do sensible stuff offline. (download the jay wallet, open the html on your PC) And use a really strong passphrase for your NXT account. Like 32+ signs etc. _ESPECIALLY_ for asset holding accounts.

Regarding the problem how to get the assets out of Cryptostocks and see who has how many shares assigned etc I have no clue.

Once that is done transferring the correct amount to the owner in NXT is no problem. Every shareholder needs a NXT adress and get in contact obv.

Thanks jeezy. I will forward to him in the hope of speeding up things.

Regarding who owns how many shares... i believe at the start of cannabit he chose cryptostocks because they offered to automatically send an email (each day?) to the issuer that contains the shares everyone owns. So he should have the actual stats. There arent trades going on really too. But i will ask him about this too.

Does NXT have 2FA or something like that too? I guess a password alone wouldnt be such a safe thing.


Yes, im happy too since otherwise i most probably would believe this project is done already. He wrote that he wants to monitor the email i wrote him to more regularly now. And he wanted to make a post in here in the next days.  ::) I wonder if this happens. Would be good though. So depending on your questions you might post them in here. Otherwise you might send them to his email and i could ask him to check that account out and search for your question.

If you check the Jay wallet it actually uses a 2FA-like PIN code to encrypt all the data locally (client seed). So it kinda functions as that.

How's it going, communications in full swing and everything?
Drug trade as happening as you figured it'd be?

http://www.movieposterdb.com/posters/05_08/1972/0069332/l_44126_0069332_04f9a2ef.jpg

In the past, he also disappeared and came back. I think you're right, though. This time he's probably gone for good.

You guys should of known it was over after the powdery mildew...what a noob.

So.....?

This is a great idea, cannabis plus bitcoin is good combo, but you will have to offer more than the average alt that have come with this.

Hey guys... i wonder if anyone of you noticed but cryptostocks went down on july 17th. Luckily it came back on july 22 but while checking things out with the issuer of cannabit, when cs was down, we found that kumala, who runs cryptostocks.com, did implement a very poor security against the exchange going missing.

When glbse.com went down all exchanges implemented a security measure to ensure that shareholders and their shares are known to the issuer. To do so the exchanges sent a daily email with the shareholders bitcoin address and his shares. The shareholder could proove the ownership of the shares by signing a message with that address.

Unfortunately kumala only implements the cryptstocks email into that list. On top some shareholders are missing totally. Oo Thats a really stupid security measure, but nothing new. Cryptostocks has override codes for 2FA codes for example too. ::)

Anyway... when you want to be identifyable i suggest that you go into your account and check the option that your email is allowed to be seen by the issuer. You might change your account email if you want to stay anonymous before. But you need to show an email you control.

If you dont do so you will not be able to proof you own shares.

So i would like you to do that in the meanwhile. I hope that soon a more detailed post will appear here about the future of cannabit. There is one... :) So secure your shares for now.

Thanks for the info Sebastian. Looking forward to get rid of cryptostocks.

Yeah... when it went down i though "well... im so happy that no dividends were paid out shortly before". I mean when you ask around it seems no one knows kumala, the owner of cryptostocks, personally. And it seems he already had a "hack" once with another project. Im not really sure how it happened that cryptostocks became the exchange of choice.

Anyway... nxt has a learning curve, if you come from bitcoin, but it seems to be a nice thing.

NXT is pretty straight forward. If you or your contact need support feel free to get in contact.

This takes way to long and couldve been resolved months ago.

Yes, NXT is really interesting. For someone coming from bitcoin it's a little bit hard to wrap your head around all the differences but once you got the hang of it is it cool.

And yes... this takes WAY too long.

So finally i can tell you about some movement on cannabit. Behind the lines the biggest shareholders and i worked together with the issuer to put a move of the shares out of cryptostocks
towards nxt marketplace in motion.

Finally it seems we progress some more again.

We had a hard time pushing so we are at least happy to tell you that the issuer claimed he will pay the divs on September 5th. He will pay out those divs on cryptostocks.com. Cryptostocks is not our first choice but the alternative would have been waiting much longer until all shareholders made the move to nxt. We want to see divs now!

The issuer want's to make this monthly on the 5th from then on. I know, we heard this already. But let's see what's happening.

I agreed to make this post and i will contact possible shareholders in order to make the move fast. I do this to take work from issuer and other shareholders work too on this. We simply hope that it helps to move things.

Now to the first problem to solve.

Cryptostocks.com went missing on july 17th but luckily came back on july 22. Luckily because the list of shareholders, that cannabit gets mailed daily, does not include all shareholders! It includes only those shareholders that enabled the option that their email address can be seen by the issuer.

In order to confirm the ownership of your shares we would need you to claim them. Please make sure to go to your cryptostocks.com settings, on the top right, then enable the setting "Disclose my email". There is an orange info icon below. Only when you sat and saved this option you will be included in the list of shareholders and you can be confirmed. When you did this check out this form. More details following:
http://goo.gl/forms/ChqkbzOEfr

Please enter your details honestly. We will drop users of the list that try to scam or claim more than they have.

The issuer will stop trading of cannabit shares on cryptostocks at one point in time.

You will need a nxt wallet. You can get one from here http://nxtblocks.info/ NXT Wallets are in the cloud and you can access them with a nxt address, just like with a blockexplorer you can see all transactions and so, but you only can send when you know its passphrase or mnemonic.

Once you downloaded the wallet you can start it with run.bat. You will have an icon in the taskbar, maybe its hidden unter the arrow showing up. You click right on it and click open wallet. Then you can create a wallet.

The mnemonic (the list of words) you get, while creating the wallet, is similar to the private key of a bitcoin address. Make sure to SAVE it securely, for example in keepass2. Make sure to safe the keepass database and make backups since you should not lose your passphrase.

You have one nxt address in the wallet, and this address is called nxt account. You can use that address to attach your shares to.

But please secure your account first. From the start an account only has a 64bit security, which might make it possible to bruteforce it. In order to raise security to 256bits you need to make your public key known to the network. Only when this is done you can receive nxt or shares.

I found a free way to do so by visiting http://jnxt.org/key and enter your nxt address, your email and your public key. The public key is shown in your dashboard in your wallet but is ONLY seeable when you logged in with your passphrase instead with your account. And it vanishes even then when you got your first confirmed transaction in your account that used your public key. Which will happen when you use the website i linked.

Please make sure to save your brainwallet safely. Losing it will lose your nxt account and your shares attached unrecoverably. The nxt wallets are in the cloud, you don't need backups, the only thing needed are a backup of the mnemonic.

Like i wrote, the issuer wants to pay out the first div on cryptostocks on the 5th september. He then wants to pay the next div on nxt, and pay divs every month on the 5th then. There will be a max timeframe for claiming of shares of 6 months. Shares not claimed until then gets destroyed and the remaining shares raise in value of ownership of the whole investments and they receive the remaining divs.

Thanks for this. Here is hope this will get better one day.  ::)

I know what you mean. But i won't give up so easily... i'll run behind until i know all is lost. And then i will still go behind... with another target.

Anyway... the issuer is speaking and working with us, so far i have some hope. How much is another question. :)

First thanks you SebastianJu for the time and efforts that you put into this to support the shareholders.
I have send my info for the transfert on nxt and I hope this will be more successfull than CS.
Do you have some infos on the amount of the sept. div and the monthly div ? (if we saw them)

I don't have. Given that the issuer says the business runs well and that we received the last dividend on 1st september of last year, then it would be one year after the last dividend. I hope it is a reasonable amount but nobody asked. Guess if the answer is low then it would be demotivating, if it's high then it's of no use until you have it. So we didn't bother to ask. Let's surprise what happens. We will make sure to remind the issuer properly before and on the payment date.

I understand that. I will see when it comes.
Another question on the move to NXT : Will the div paid in NXT and we'll have to convert to have BTC ?

Yes. This is very easy in NXT tho. MGW, Shapeshift, etc.

We looked into if it is possible to pay dividends in bitcoins but it isn't really a working thing yet. Maybe the nxt-people develop something later but for the moment the dividends after the following dividends will be paid out in nxt. Though that isn't a big problem because the nxt orderbooks are filled good so you will get the value you want.

I asked in their thread and they explained with a script that has to be run. I let it check out another shareholder and he said it's not really working. At the very least every shareholder would have to provide a btc address and the rest would have to get the payment in nxt.

What ways to do so do you have in mind? Shapeshift is pretty expensive as far as i remember. It would be way better to exchange nxt to bitcoins on a normal exchange than using shapeshift. Or do i mix something up?

Any updates on the transition to NXT?

If you have trouble getting a hold of everyone cannabit should release a Asset news/poll thingie. I think you get a mail then.

For the BTC conversion there is a lot of options through MGW/SuperNET and Coinomat and stuff. I'm sure I don't even know them all and don't know the fastest/lowestfee one.

any updates on September 5th dividend ?

It seems something came through, though it surely does not look like a years worth of dividends.

We will run behind and put pressure on him. I think even a small div is worth something for the start. I would not have felt comfortable seeing a years amount of divs on cryptostocks. And we will push to make the move to nxt.

It seems we did not get an email about the dividends from cryptostocks. I wonder why.

Getting ahold of every shareholder should be possible the easiest way when cannabit sends out a notice on cryptostocks. When the email system works again. Then every shareholder should get an email. The move to nxt is not mentioned though. Only to check out the thread for the post i made some days ago. I wonder if cannabit sent it already though i somehow doubt it.

We will see how it develops but surely we won't let it sit there.

Yeah, we prepared already such an asset news for cannabit. We don't think that he sent it out yet. But it should be the best way to get all shareholders. Till now nearly no shareholder signed the form.

We thought about automatic conversion to btc but it looked rather difficult. So far it seems nxt is a currency with a high enough volume to catch div payments from cannabit without crashing the price. If, for the start, we will use nxt then it should not be a bad thing.

 ::)

You can imagine it's complicated. ::)

Well, we are definitely not powerless on this. In the background the biggest shareholders work on getting things straight. Don't worry, iam not someone who gives up so easily. :P

Just stumbled onto this project. Is any work being done for point of sale with crypto in the MJ industry?

Not as well monetary wise. I wish it would. Cannabits last div wouldn't have happened and i hope more will come since our hands look good to put pressure on the issuer. It's a pain since we where a bit like buddies one day but what he does now is not ok. I know some of them more near and can help them getting back on track. If they are willing to do so. Not all are.

I know way more than others about the things that happened behind most losses that happened in the community. So that iam in a better position to at least try to get something back. Though you would not believe which hurdles you even have to fight under those that should help you bring the case forward. ::) Up to the point where you ask yourself if they work for the other team. :D

Ukyo... well, i don't agree with the silence but it is ok to handle it that way for the moment. If no solution is found then the details will come on the table.

Anyway... i wont give up so easily. If no chance is there anymore then i would sue for justice only. Don't like to be scammed. Hence me being an escrow. :D

You should consider investing. The issuer is not anymore that reliable as he was once. Behind the scene we have to put alot of pressure and work into it to make him move.

Sounds similar to some other projects I know...I have to admit that's not exactly encouraging.

As a whole I think the single biggest problem for any crypto <-> MJ relationship is that most sales (or swaps, exchanges, whatever) are currently done in person for this industry. Even where recreational usage is legal, its rarely legal to ship so that rules out most online sales for the time being. That's why I asked what if anything was being done with point-of-sale systems. Specifically I'm thinking of a payment platform for any cannabis related business to accept a cryptocurrency easily in person. I think anything I invest in would have to be working in this direction somehow.

15 months since last div.
6 months since SebastianJu tried to arrange something.

Still nothing. And you even give out the suggestion to start investing into this?  ??? The correct suggestion would be to wait until the move to NXT is made and then re-evaluate. I have to say Sebastian your reputation is not living up to its standards on this one sadly. Very strange stuff going on with this project and your involvement, trying to hold it together and encouraging people. Maybe you are just really trying to help, maybe something else is going on. Whatever it is it leaves a bad taste.

You need to make something happening soon and make it final, because this is not shining a good light on you too by now.

Huh? You missed the div 2 months ago?

And where the heck did i suggest to invest into this? I explicitely wrote that Chronikka should consider to invest because ot the problems, when he wrote that he wants to invest.

I really don't know what you want. If you read things wrong then don't make me look bad only because i try to fix this.

What div? Cryptostocks seems to be down atm?

I'm not trying to let you look bad, you are doing that on your own. I'm just saying how me and others around here feel.

Yes, cryptostocks is down again. Which is why we don't wanted to use cryptostocks anymore. Kumala, the owner, is not known in person by anyone, so when he takes our divs then we are done. I'm not sure when cryptostocks will be back. Last time it took some days.

See my post here:  DO NOT POST SESC LINKS #top

On that day a div was paid that was a little bit less than the second div.

And when you check what Chronikka wrote and what i answered then you would see that he wanted to invest and that i told him he should think about that because of the problems.

In my eyes all of your points you put against me are invalid.

That cryptostocks was used for payment last time was a compromise. Better a div than no div at all. The issuer doesn't look very interested in the move to nxt. Which is insulting since the biggest shareholders i work with, and iam, put a lot of time into that.

That cryptostocks is down is nice for the issuer of course. He can push the payment date again he might think. I'm really angry at the way he acts but slowly i could force him to speak with us. I will not let it slide and i'm angry that the most probably most successfull first year was not used the way we would have awaited. We should have had a big voice in what happens to the investment but he did what he wanted it seems to me.

If he doesn't care then i will go harder on him.

I'm not happy that you attack me only because you misunderstood things. I'm surely not the villain here. I could let this thread die and do what i can for my investment only but i chose to inform the other shareholders too.

I feel like I started something  ::)

The only purpose of my comment was to get some feedback about the state of the project (besides dividends). Sebastian was the only who provided input at all and I'm thankful. No need to attack him.

Just checked this thread after a long absence.
Looks like cryptostocks is still down - was the most recent div paid on cryptostocks?

I didn't get a chance to make the conversion to NXT since cryptostocks has been down...

Yes, the payment was on cryptostocks. It was a compromise, better a div than no div at all.

With NXT, i don't know if the issuer will do it. We put a lot of work into it but it seems he did not go through at the end. In any case you need to set the option in cryptostocks so that all shareholders emails are known and can be contacted.

I thought, if he has trouble with NXT then maybe direct shares would be better for him. But for that we would need to know the shareholders too.

Hopefully cryptostocks is back soon since it seems at least 2 shareholders only now found out about the recent div.

thanks for your help!

Cryptostocks seems to be back up. So if someone missed the last div then he should withdraw the coins.

I'm only fresh out of hospital so i have to check back with the majority shareholders regarding the next steps. The fifth went by again, though CS was down at that time.

Looks like another round of divs went went out.

Guys dont forget to check off "Disclose email" in Cryptostocks settings, this wil insure that when the time comes, you will be able to validate your shares, if CS goes down for good.

Yes... and even though the amount of bitcoins is less than last time, the usd value is similar because bitcoins are worth more now.

Hope things move more smooth now. :D

Cryptostocks is back, so let's see how it goes around the tenth. Seems to be that some traders slowly are interested in shares too since some small volume is happening on CS too.

We actually did not have to push the issuer really for the last dividend, which is a good thing. Let's see if he moves forward the same way...

It's up but you can't do anything because emails are not working. Still stuck with my money on the platform.  :-\

You mean cryptostocks has an error in their mailsystem so that no emails are sent out? Didn't know that yet. I already wondered why no emails are sent when divs appear.

I guess it is impossible to make kumala fix this since i don't know how he can be reached. One reason for being cautious with using cryptostocks.

Why can't you get your funds out without sent emails? I believe i did not have to click a link in email to receive my divs. Though maybe that is a security option.

Yes. Withdrawal confirmation mails are not going out. Nor are Test mails or the deactivation mails. You can't get your BTC off cryptostocks currently if you have mail confirmation activated.

It's basically gone.  ::)

I once tried to reach kumala because he could provide information regarding the labcoin scammer, because he sold additional shares and such, but i was not successfull. He did not react on any ways i contacted him. So the best bet, i think, might be answering in his service thread. Maybe he reads there. I did so now, let's see if something happens:

I nearly forgot to post this so i do it now. :)

The bad news is that this month there will be no dividend. The reason is that they had to move one of the growing location and the divs from this month were needed for the move and supplies. Though only this months divs are used for it, next month payment should happen normally.

Second thing is, please everyone uncheck the option that your email address is hidden from security issuers. If everyone moves quick then it might be possible to send the divs via the new system. See next paragraph. This might be the last warning about that point at all. Only a handfull of shareholders haven't unchecked that option yet and their shares are tiny. So maybe they forgot about this totally.

NXT is out of the game because of the difficulties in using it with bitcoin directly. I know, too bad that we already put time into it, though it's good that a move is considered at all. At the moment XCP (Counterparty) and Coinprism is looked into but XCP is in favor at the moment.

One of the big shareholders i work with to keep this moving will, most probably, visit the issuer around december 24 to 27 and check up on the status and how things go in general.

That's the status for now. :)

By the way... yesterday i was told that the issuer still receives emails from cryptostocks. Because he receives the list of shareholders via email. So it might be that there are two different scripts on there. One for kumala and issuers and one for users. I will mention it in cryptostocks thread, maybe kumala wonders what i want since he can receive emails.

Ok guys, it seems kumala did not fix cryptostocks till now. I hope it will be done till the 11th but i don't have much hope.

Since the issuer had his problems with NXT, he prefers to use BTC only and had his problems to get his hands on NXT, we wanted to switch to a colored coins version. (It's better to have only one currency exchange in the line anyway.)

I know it's not cool to hear this, especially we had already much work with NXT, but it is how it is. So in order to make things move i would like to ask the shareholders about where to move from cryptostocks.

I heard there are a couple of working colored coins exchanges and i would like to hear suggestions or better, experiences you had with them. Which exchange should we use. It would be good when someone already tested one of these services. I then would see how it works and we can move the issuer to make the move.

Guys, i don't want to give the issuer another excuse as to why he can't send divs. So i would appreciate your help and hopefully we fnally get the shares moved to a working solution.

Thanks everyone!

Not as solid as we would wish for. The farms exist, we checked, the issuer had to be pushed to pay though the shares are still on cryptostocks, which is not cool. I will take a look at counterparty to see if it is worth something for this project.

Thanks for the update!

Question: Do you guys think you can get one harvest/dividend per month going regularly in the future?

Iam only a shareholder who is with other shareholdersin contact ith the issuer. Normally it is the plan to have one dividend each month. Last month it didn't happen because a move had to happen for one farm, this month it seems we are at a halt because cryptostocks is down again. ::)

But the issuer seemed to wanted to pay the monthly div. We had to push him so i think our pushing is effective.

I took a look at counterparty and counterwallet and i have to say it looks like a great, intuitive and very easy system to use. Compared to that NXT is very difficult.

I have hopes that it will work out with counterparty. I already made some tests with receiving shares from another project and some divs and it works easy like a child could use it. :)

Next thing would be to check out the migration process though it looks like it has to be done manually. Though i think it will not be too hard doing it manually because cannabit has not too many shareholders.

I hope this can be checked out fast so that the dividend of this month, which normally should be paid today, can be paid out fast.

If a shareholder wants to check out counterparty, here is a page with a lot of counterparty tutorials: http://foldingcoin.net/resources/video-tutorials/counterparty-guides/

The videos don't work for the most part but the picture tutorials are the way tutorials should always be. :)

Thank you very much for the update Cannabit.  It sounds like things are running smoother all the time and looking forward to Monday and your next update.

Keep up the great work! 

Any info is available about when the shares will be traded?

Please check carefully, cannabit wasn't in the forum since some time. Iam only a shareholder working together with the biggest shareholders to push the issuer to keep his promises.

And yes, we shareholders put time and work in it to make this work too since the issuer most probably would do it in ages only otherwise.

We now try to negotiate with the issuer to make things run. As soon as i know more i will post about it.

No info at all. It mostly depends on how the issuer is reacting. If we help setting it up or the issuer and so on. At least it is pretty easy to do and tutorials for everything are available and easy to understand.

The last info i received is that a big shareholder and the issuer will speak about counterparty, maybe even in the next hours. I hope they will set up everything, in fact it might be likely since it is sooo very easy to handle counterparty. It would be harder to explain it than simply doing it. :D

Profitable times ahead for pot plantation. Waiting eagerly to invest, keep us updated.

Any updates? No activity for over 11 months. SebastianJu could you try to reach em and ask for an update?

Especially on the Cryptostocks situation. The shares should move to Polo / NXTAE or something equally "safe".

Yes, the issuer did not show up in here but read the last pages, together with the biggest shareholders we could push him to proceed with paying out divs. Last month was a move though, which ate the divs and this month cryptostocks is down.

Well, the shareholder who speaks with him at the moment tried to contact him, got a response and he wanted to connect back, though that didn't happen yet so that we have to bug him until he does. Unfortunately it is a lot of work to keep things moving on that end. :/

Anyway, i hope we can trade on counterparty soon. It is the easiest way to handle shares and dividends i have seen since a very long time. You can push shares on any bitcoin address and receive divs on it.

Check out the picture guides on this page: http://foldingcoin.net/resources/video-tutorials/counterparty-guides/

The videos are down but the picture guides are great. You will see how easy this is. Very intuitive.

As far as i know practically all shareholders enable the option that the issuer can see the email attached to a cryptostocks account holding cannabit shares. There were only some small shares left that nobody cared for it seems. So theoretically it can be done that shares are moved to counterparty/ a bitcoin address of your choice.

I hope the issuer will be reachable by phone to set things up soon.

I'm sure you know that the kind of snowball games MMM is will break down pretty fast. Please make sure to take out a big part of your profits to secure them and only proceed with a small part of your earnings. That way you will have at least your investment back or even some profits and you won't lose it once MMM really goes down worldwide. You most probably know that it only works in some countries now anymore. It mostly broke down already.

But like i said, Poloniex is not one of the choices because we would have to trust a third centralized party again. And NXT was checked out already. It is pretty complicated and it has it's learning curve to understand it. And then you will have your difficulties with the dividends since the issuer would have to need to change to nxt, which is another step of work and direct payments in bitcoin are not so easy too. That's why nxt was thrown away as an option.

We will bug the issuer to go through with counterparty. Check it out, it is VERY easy. At the end you only need a bitcoin private key and thats all you need to hold shares and get dividends. Really nice concept. :)

I wanted to inform you if something happened, even when it is a smal thing.

The issuer was reached by phone finally. He wants to go with counterparty though he needs bitcoin addresses from the shareholders, since cryptostocks doesn't provide them with their shareholder email. So it seems the formular need to be adjusted to allow input for bitcoin addresses.

I think we should not wait until everyone put their address in then since this would take weeks and the biggest shareholders are collected anyway.

So i will inform you guys once the form is made ready.

Not a big step but at least a small step. Hopefully counterparty will be set up fine and everything will go more smooth then. Without delays and such things.

Another little step. The form to claim your shares is ready. :)

I know it probably is hard to know the amount of shares you own when cs is down so try to remember and put the amount into.

The URL is http://goo.gl/forms/hv8WkEXye7

The issuer receives a daily list with all shareholders that have enabled the option to allow the issuer to see the shareholders email, he knows the email address and the amount of shares bound to it. So you need to put in the form the email address you use with cryptostocks.com.

Next thing is to put into a bitcoin address for the divs. Please register at https://wallet.counterwallet.io official server. See tutorial here http://foldingcoin.net/resources/video-tutorials/counterparty-guides/ especially http://foldingcoin.net/resources/video-tutorials/counterparty-guides/#wallet

Once you did so you have a bitcoin address in there. Back up the privkey in your password manager so that you can recover it. Counterparty is using normal bitcoin addresses so with the privkey you can restore the shares that are bound to that address too.

Put that address in the form.

Last field is for the amount of cannabit shares you own.

I hope we can do this fast, i don't want to wait for divs.

Good luck everyone!

Hey SebastianJu, really appreciate your keeping up on this thread.  I know I had a fair number of these as I was one of the earlier investors but for the life of me I can't remember how many shares I had.  And given that cryptostocks is down it doesn't seem likely I'll be finding out anytime soon.  Do you happen to know if Cannabit has anything that might be useful?

Submitted. I guessed my shares because CS is down as always. But I think its correct.

Thanks for your effort Sebastian.

I had to guess the exact amount of my shares too because i can't really know now anymore. The issuer received a daily list with shareholders containing their cryptostocks email address and the amount of cannabit shares they own. Though that only works for shareholders that did not change the option that shareholders are allowed to see their email. That is why we asked last time, with NXT, to change that option to allowe the issuer to see the shareholders email addresses and it seems practically everyone did so or at least shares were seeable.

So simply guess the amount of shares as good as you can. When your email address is in there and you are in the shareholder list then we can know the amount of shares.

Ok everyone, it looks like cryptostocks is back again but it might be too dangerous to receive divs there anymore.

So again, please fill the form to let us move away from there. See my post: https://bitcointalk.org/index.php?topic=354636.msg13635853#msg13635853

And it seems there still are a couple of people who did not enable the option that the issuer can see their email address. Which would make it impossible to proove the shares you own.

For that reason, everyone who did not do this yet and who wants to keep his shares. Take this serious since it might be the last chance to set this option on cryptostocks. With the current way cs acts there is no saying when it vanishes completely.

So please go into your cryptostocks options

https://i.imgur.com/iUx3dra.png

and enable this option:

https://i.imgur.com/JjLU2xP.png

Then you will show up in the list of shareholders the issuer can see and i can help to proof that you are the real owner of the shares.

Next step would be to follow the post i mentioned above. Here the link again: https://bitcointalk.org/index.php?topic=354636.msg13635853#msg13635853

I will verify if you are the real owner of the email. So no scammer needs to bother trying something funny.

Since it seems to be the case that some shareholders did not read their email they registered on the form and with which they are registered at cryptostocks, here a notice:

In order to get fully verified you need to check that email address, maybe check spamfolder when you don't see an email, and follow the instructions.

This is to protect shareholders against scammers who might know a shareholders email address and maybe even the amount of shares they own. Email must get verified too. And in order that no scammer can fake an email coming from another shareholders email address you need to check the instructions. It's actually very easy but important. ;)

Some short stats and to get the thread up to catch some more shareholders:

12 shareholders claimed their shares but only 8 verified themselfes by checking the inbox, and maybe spamfolder, of the email address they are registered with on cryptostocks.

That's not a big amount but still we have a good number of shares confirmed. In fact a huge part of shares. The number of shareholders that claimed their shares is still low though.

Anyway, it should be enough to move the issuer to start creating the security. The shareholder in contact will try to move him to do this. It would be great when we could start paying out divs to at least those who claimed AND verified their shares. Check the cryptostocks email address inbox if you only claimed but not verified your claim.

I would have awaited more shareholders to act but at the end it is awaitable somewhat since most probably many gave up long ago.

I don't have many shares but I just finished the form. If I were to get more shares would I need to still buy them on Cryptostocks and fill out the form again with the new number of shares?

No need to do it again since the issuer knows then already the bitcoin address you want it attached to and you were verified by email i guess. So the issuer only needs to check the newest list sent from cryptostocks and will know that something changed and he can adapt.

Again a reminder to shareholders that filled the form. Since there are still 4 users who filled the form, put their bitcoin address and email address in there but did NOT check the email address's inbox. There is an email in the email address inbox that you use for cryptostocks. Check it and answer to it to verify that the real owner of these shares claimed them. That's important!

Thanks for all your efforts around getting this long overdue transfer to happen.  The truth is that CryptoStocks has literally been a nightmare since the day it opened from a technical perspective (and don't even get me started about the garbage (for the most part) listed there).  Anyhoo, thanks again SebastianJu :)

Yes, Cryptostocks is and was a nightmare. First, how can someone get the idea to implement 2FA but then put into the account 8 or 9 override codes? I'm pretty sure the website doesn't even have a bruteforce protection so bruteforcing an accounts 2fa sounds 8 to 9 times easier. What an idea...

Then the shareholder list. Not containing a bitcoin address and not containing all shareholders. ::)

Whatever. Hopefully we will be out there soon.

At the moment we have 6 claims that filled the form but did not confirm their email address by checking the inbox of the cryptostocks email and answering the email i sent there. Well, one shareholder told me that he did not receive that email and that it isn't in spamfolder too. I checked the list and we have a large number of gmail addresses there. So it might be that me, sending so many nearly the same emails to gmail, was blocked as a spammer. Fortunately i sent an email to a gmail shareholder yesterday and he received it. So i guess i will repeat the email sending for the emails that are not yet confirmed and/or claimed.

I guess 2 emails each 31 minutes will be enough to not trigger the spam protection? I hope so. Maybe anyone has experience with that?

It seems to work going through the email list slowly. Hope this keeps on working so that every shareholder will get his email in the inbox.

Some people only now changed the option to let the issuer see the email address, my list is not as actual yet but i will note your claim down and when i receive the newest list i will know the claim is real. But your email address can be verified already before that. :)

Slowly going forward with the claims and verifications. :)

Yesterday i ended sending all the emails again to those who might have get blocked my previous email. It turned out to some more shareholders verifying.

I checked out cryptostocks and it seems that cannabit finally stopped trading to not change the shares now anymore. So the issuer acted a bit. I will see if i can get more info in some hours when the other shareholder comes online, other timezone, to get more news. Since it's practically sure that the shareholder must have reached the issuer so that this change happened.

On the homepage it says, i only have read that now, that they want to repair the email problem with another third party email system. But it's an old news so probably nothing will happen anymore.

So far i wait for a newer list since some shares were claimed but these shareholders were anonymous in the old list i have.

When these 2 claims are true then we have 18 confirmed investors now, 5 more have claimed shares but did not verify their email address because they didn't check the inbox of their cryptostocks email address. So if you missed that then please do that then we might have 23 confirmed investors.

Of the number of shares that are owned by shareholders we have 93,87% confirmed already. That is why we try, since some days, to get ahold of the issuer to lead him through the steps to create the security on xcp.

I hope this happens soon since we already have the first of the next month and i don't want to get the issuer the idea that he could save another month of divs. ::) But the other shareholder tries all the time. :)

It seems the Trade Stop is not active anymore. Maybe i misinterpreted what it means. Though when it was active then no trade happened afterwards. So it is no sign of no trades happening but probably it is a setting the issuer has to set. Don't know why it was taken out. The shareholder in contact with the issuer did not say that he reached him by phone. So i wonder what happened.

Anyway, the shareholder is trying to reach him every day, sending him sms and trying to make an appointment to create the security. No luck yet but i hope it will happen soon.

Regarding the Verification. We have still 4 shareholders who claimed their shares in the form but did not verify their email address by answering the email i sent to the email address they use at cryptostocks. Please fix that! The shares in question are of the amounts: 6, 397, 14 and 159 So still not a small part of the public shares.

And we have still a couple thousand shares that are anonymous, means the shareholder did not enable that the issuer can see their email address.

Whats the current status? Are we ready to move forward and get this finalized?

Sorry, no movement as of now. The issuer did react though no security was created yet. I hope to hear more on monday from the shareholder who speaks with him.

I assure you that I do what I think has to be done. I don't want to say much more now.

Regarding the collection and verification of shareholders, we still have three shareholders who filled the form but did NOT verify their email. Those shareholders own 397, 14 and 6 shares. Please verify when you read that.

No new claims happened in the last days and since we only confirmed a minority of the shareholders i guess most gave up on cannabit totally or even gave up on bitcoin and left.

It is not a problem since we have confirmed nearly 94% of all confirmable shares.

What we wait for is that the issuer gets in contact with the shareholder and they set the thing up. Then spread divs.

We are still behind this and I will stay behind this.

Mods: 17 days after my last post... I can't believe feeling the fear I have to write this because of the undefined rules.

---

Hey guys, some of you might notice that there are shares appearing on your counterparty wallet address. The strange name is cannabit when you check the info.

Unfortunately no dividend yet. The small amount of satoshies are no payment, they are the minimum amount of bitcoins needed on an address to have shares on it since the miners would not transfer a bitcoin amount lower than that. They were sent from the issuer when he sent the shares.

We work on pushing the issuer to issue the funds and really... it's so tiring to do this. Well, I'm no one to give up even when your hopes are broken daily. We have found all the doxx needed to go after him when he does not change his ways. And the legal route is open too.

these day things are not 100% clear which is why we don't want to hold onto it for too long if we are not going to execute a plan soon.

When you choose Counterparty you will see that trading is not practical there and is happening at poloniex, so many shares end up being stored there and you have again counterparty risk.

Nxt is far from perfect but it is the best and biggest "decentralized exchange", where not only the shares are issued, but also exchanged and stored. This because the exchange itself is practical to use, you don't need to transfer your shares to poloniex, and so the highest trading volume of the issued assets ends up also being on NXT itself.

Well, I found out now too that it is hard to trade on counterparty, at least against bitcoins. You need to use special wallets though that means other traders need too. So a real orderbook will not come into existence that way. Though one can sell or buy for xcp, but then you would need to watch a additional price.

I know centralized exchanges work but surely I would not want to hold shares worth a lot on such exchange. The lessons teached on that topic are way too explicit.

NXT was tried... but there is the problem that you can trade them for btc but paying bitcoins out as divs is practically not possible. At the end the issuer would have to buy nxt which is not suitable.

Well, guess for now at counterparty I have to miss the orderbook and trade shares directly.

Shapeshift has recently been integrated in nxt client so you can simply buy nxt directly in the client with btc and do everything you want to do, like pay dividends. Others can simply convert the nxt in btc, also directly in the client. 

Hope you give it another chance for next project maybe.

 

Well, this is not my project. I surely would have not handled the money of others this way. I would have given support and would have asked if important decisions are to be made. I'm on here only in the unhealthy position of the one trying to move the issuer to do things. Well, he is very slow. Of 7 days a week we can be lucky when he moves one at least.  :-\

Anyway, shapeshift doesn't sound like a very good solution. It would eat fees to turn it into one direction and into the other direction. The issuer wants to pay in bitcoin. He would have to exchange bitcoins, pay fee, lose the orderbook spread and so on. And the shareholders would have to do the same again... It would be costly.

At least counterparty has no such problems with dividends. Hopefully things get implemented into counterwallet that will make it possible to build a correct btc orderbook.

Regarding NXT, I checked it out carefully... and others did too. Only thing is that it has quite a learning curve. For example making an address secure and and and. Though counterwallet is as intuitive as it can be. I like that really and it was refreshing after having to deal with nxt.

Well, I guess both platforms are still in development and good things can be awaited in the future from both.

Thanks so much for your feedback Sebastian. Really appreciate you explain to me why you chose Counterparty over Nxt Asset Exchange.

Hi Sebastien,  :)

A reply from Nxtforum.org:


[edit] To trade, hodl (or shuffle decentralised and transfer back to any BTC wallet, btw) BTC on the Nxt blockchain > http://multigateway.org

Sounds like superBTC is only an asset. Another layer to trust then I guess.

I know it is theoretical possible but not out of the box. It would have brought trouble because it would have meant for the issuer that he could pay some in btc, those who took the work to set things up on them, but the rest can't receive btc so he would have to pay nxt. Which would mean more work than simply sending nxt at all.

True that.

We'll have to wait for Nxt 2.0 to avoid paying any tx fees in NXT.

For the shareholders... it seems cannabit is up and running on counterparty. The share has a strange name though but it has the real name in comment.

A small div was sent, the issuer claimed he could not get the amount he wanted from his exchanger. He will try to gather the remaining coins in the next days. Let's hope this will happen... soon.

Regarding trading on counterparty. It is very hard to trade shares against bitcoin but against xcp works. Though for some reason there is a timeout of 7 days. Need to ask if that can be avoided.

When creating an order in xcp you might check http://coinmarketcap.com/currencies/counterparty/#markets to see the current value.

Hope this will move on it's own from now. Next step remaining divs, step 2 monthly divs coming in regularly... well, one can dream, right? :)

This is like the classic "Right. Give me the money and wait right here, I'll go get your shit form my guy & be right back."
Only you've been waiting since 2013 :(

Well, the thing is that we gave him our money years ago already. We lost it already. Everthing that now comes back is a plus that lowers our loss.

The thing is a bit different than running a stranger away because we can push him forward... The circumstances are that way. So if things don't get into smooth roads soon, now that everything is readymade and he only needs to send the divs each month, we can push.

To be honest, I gave up long ago to believe any of his promise. I can't get my hopes up anymore now. Though I still work on things because I know that we make babysteps at least. We won't sit around silent when things went worse.

No. It just works as a decentralized AE. The SuperNET/MGW/InstaDEX Client/Plugin is the software that makes the decentralized AE work. If you hold the right asset you also get 50% of the fees.

So superBTC are a official currency that is backed by the network or so? But still it sounds like a hassle. What's the difference in exchanging bitcoin to nxt and pay out those to exchanging bitcoin to superBTC and pay out this? (Taking that every shareholder does NOT need a btc address attached...)

I want so badly for this to work, but the issuer's reluctance to communicate/move forward in a timely fashion stays my hand from investing in this asset right now. That might change.

And a tip to the issuer: it's gonna be hot this year. I don't know if you are exploring outdoor production , but consider supplementing your regular indoor cycles with an occasional outdoor. No lights to cool, or run for that matter, cooling is gonna suck this season. It's like, record breaking hot. You will eat the temp differential in profits.

If you must maintain medicinal quality, use a greenhouse. There is no recreational quality echelon that is not obtainable outdoors; the product won't suffer. Also consider the current season of autoflower offerings: Dinafem and Fastbuds, among others, have some boutique strains that can get you at least 112 per in 9 weeks with the proper pot size. With all the shiny new hybrids the kids go for like Sunny D. And they smoke just fine, take that from a former photo purist. You can get that div up big as fuck in cycle or two, if you have the space to pull it off, I don't know your sitch. Outdoors has its own risks and rewards, and I know you understand what that means.

So, something to chew on. Drop me a line if you read this, via pm, or if they bug you enough to read this :) I have a few more suggestions you might find interesting. I think you have your shit together. I just want to understand the method a little better, I haven't given up on this yet.

The issuer wanted to send on friday and today we have a small div again. 150% of the last one. I will see what the issuer says about the height of the div, I mean regarding the last months that went by and future monthly divs.

Via XCP?

Please STOP unsing Cryptostocks. The BTC on there is LOST since you cannot withdraw them. The withdrawal E-Mails are deactivated.

Yes of course via XCP. The issuer is pleased to have this solution now where he can send the bitcoins to the shareholders. And it means less stress to us pushing him.

I'm not sure if there is a way to take out the bitcoins from cryptostock from accounts that have email confirmation enabled.

It is not. Believe me I tried many different tactics. No chance.

I think it might be that kumala reads the cryptostocks thread since he changed something on CS, I think. Cannabit was changed to trade stop by the issuer a couple of times but next day it was sat back. Though at one point, after I complained about it, the setting back stopped.

Any updates on regular div payouts?  ::)

Newest Mentioning of Dividends I heard was that the issuer plans to pay out dividends on end of this week. I already check the address regularly :D though I think the week ends on sunday for him probably, US-Timezones.

Looks like the dividends have been rolling regularly since February. Which is good. Let's keep this going.

Thanks again Sebastian for your time and work on this.  8)

The most work is done by another shareholder because he has more possibilities. I think he will read this and can see that it means him in reality. :P

I think CANNABIT issuers got kidnapped by Mongolian pirates, like Friedcat.

Is there an asset exchange somewhere for this?

Now that some time has passed and I think most of us are beyond this.

WTF did the re-established dividends during 2016 come from? The whole sequence was beyond bizarre. There was quite a bit of real money being passed out.

I am also very puzzled by this project, I have invested in it and do not know where my money is going.

if you registred to counterpart and got the token you surely have something on there. Btw did the owner cashed out his btc or is still running with it ?

Hello everyone,

I invested into this long ago. Every investor knows how it moved on. Two exchange changes. The thing is... the issuer is lame as fuck. You wouldn't believe how much patience and work was put in just to receive divs over time. Most work was done by a shareholder who wants to stay hidden. Also the most work regarding the exchanges.

In any case, the issuer has to be pushed constantly which is unbelievably annoying. If he feels no pressure then he won't act. And when he acts then in most of the cases it is some empty promise.

Whatever. First, after a long time fighting, the other shareholder backed out of this unworthy game, he gave me the actual mobile phone number of auto so I can contact him on telegram. Sometimes it worked, however promises and excuses and whatever followed. Since some months again not a little reaction. No telegram, no email, no answer or phone call led to a reaction.

Slowly I don't feel anger or hope anymore. I don't care. I will release all the infos found about him. That is phone number, emails, certain accounts, relatives, facebook accounts and so on. It should be no problem to check him and everyone related out. He is south korean living in the US... bright facebook images showing nice things, people and so on. Living in an expensive area. Honor should be a big thing for him. Maybe it is. However in that case he is incredibly stupid not following through. I wouldn't even pity him anymore when a relative asks him what this "Cannabit-thing" is he was asked about by some stranger. He played this game for too long. I will let the community have their try.

I will release every info I have on him at one point in time in the next 7 days as long as nothing exceptional happens. Something like the payment of all 12 missing payments from 2017 + two months of divs for 2018 and the missing october div from 2016. He paid nearly constantly in 2016 otherwise. So just these 15 months of divs. We found he paid each month only around $1500 to all shareholders. So that would total to $22500 only. A shame since this business should have broke even in the first year in any case. Last time we were in contacted he ensured me that he has all last open payments worth of usd.

I would be fine with getting back my original bitcoins of course also.

Like I said at this point I can't feel pity with him anymore after seeing how shitty he treated the other shareholder. He is a nice guy and didn't deserve being played with. Of course I'm also not happy about how my efforts were rewarded or the trust of every shareholder.

Stay tuned,
Sebastian

Thanks for updating us on the current situation. Would be cool to at least break even BTC wise after all these years.  ::)

Well he didn't react at all. As promised here I doxx him after years of trying to fix him. Might be some infos are outdated but he can be tracked down for sure. Feel free to give him a visit and please update us on here. Happy hunting after your money.

https://bitcointalk.org/index.php?topic=354636
https://bitcointalk.org/index.php?action=profile;u=173147
cannabit

His Name is David Suh, his number is 626-203-7579
USA California

USA country code is +1 or 001 when calling

Possible Relatives:
Hannah Suh, Insil Suh, John Suh, John Suh, Jong Suh
According to instantcheckmate.com

31 years 2002 graduated Los Altos High School.

cannabit@bitmessage.ch
auto2nr1@gmail.com
dsuh84@yahoo.com
invisionperformance@gmail.com

AIM: Itzdavidx

Telegram: @dsuh84 also connected to the phone number ending 7579 above.

itzdavidx as several forum accounts
invisionperformance seems to be a username too

https://twitter.com/dsuh84
https://www.facebook.com/davidsuh

Sister, definitely https://twitter.com/Hannahsuh
Maybe Brother? https://twitter.com/Repsoljohn
Mother? http://www.google.com/imgres?imgurl=http://img01.funeralnet.com/obit_photo.php%253Ffullsize%253D1%2526id%253D1169091%2526clientid%253Ddanjolell%2526iid%253D635064%2526clientid%253Ddanjolell%2526sticky%253D5727&imgrefurl=http://vbd.kosherlike.com/jon%2Bsuh&h=3412&w=2417&tbnid=HJofWZJzSg_avM:&docid=9qIlJmtnJgaf5M&itg=1&ei=jF0UVvaFJIyYNqzumPgG&tbm=isch&ved=0CFEQMygtMC1qFQoTCPb7yYOEr8gCFQyMDQodLDcGbw

In everyones circle:
https://twitter.com/delmurder
https://twitter.com/gracelhan

http://www.peekyou.com/david_suh/186854867

http://www.myspace.com/invisionperformance

https://de.foursquare.com/dsuh84
http://community.tradeking.com/members/dsuh84/details
http://www.lakako.com/photos/40869337
https://www.dc801.org/wp-content/uploads/2014/03/coinbase-email-leak.txt
http://www.newcelica.org/forums/showpost.php?s=868ba12d4d50c18d04a6285708431435&p=1000367&postcount=9
https://instagram.com/dsuh84/

http://www.findz2a.com/ca/Invision-Ultrasound/792187

https://www.facebook.com/InvisionPerformance?ref=br_rs
http://www.invisionperformance.com/
http://www.manzousa.com/index.php/distributors/california-ca.html

Company Information
Name of the Company Name:    Invision Performance
Address of the Company:    15133 LA Subida Dr
City:    Hacienda Heights
State:    CA
Zip:    91745-5100
contact info:    5629450839

https://www.google.com/maps/place/15133+La+Subida+Dr,+Hacienda+Heights,+CA+91745/@33.9952,-117.985831,16z/data=!4m2!3m1!1s0x80c2d43a4fb41eed:0x7990782c191e22f3?hl=en-US

http://gtspec.com/dealers/all/USA

INVISION PERFORMANCE, INC
Tel: : 626-203-7579
invisionperformance@gmail.com

15133 LA SUBIDA DRIVE
HACIENDA HEIGHTS, CA 91745

the house is worth over 1.1Mill
google 15133 La Subida Dr

http://www.zoominfo.com/c/Invision-Performance-Inc/347241960

https://panjiva.com/Invision-Performance-Inc/4142937
https://www.importgenius.com/importers/invision-performance-inc
http://export-trade-data.iydata.com/america/17/INVISION_PERFORMANCE_IN.html

Invision Performance is Providing Services for Motor Vehicle Parts And Accessories In industry of Transportation Equipment (Equipment). The Company Operations in CA with Address 15133 LA Subida Dr and Having Zip code 91745-5100 The Company reprenstve will be David Suh and and Company Contact Number 5629450839

https://www.spokeo.com/626-203-7579
626   626-203   626-203-7579
1 Owner found for
626-203-7579
UNLOCK PHONE
Phone Information
(626) 203-7579
CARRIER
XO Communications
CURRENT LOCATION
Hacienda Heights, CA
PHONE TYPE
Cell
ADDRESS HISTORY
4 Addresses Found
OWNER MOST RECENT
David S******
Age 33
ADDRESS
****** La Subida Dr
Hacienda Heights, CA 91745
2003 - 2016
RELATIVES
Hannah S******
Yeon S******
Jong S******
Jae S******
Sil S******
INCLUDES
Residents
 
Property Info
 
Profiles
VIEW DETAILS
Fun Facts
Statistics for the owner of
(626) 203-7579
33 y/o
AVERAGE AGE
The average resident's age is 33 years old.
$75K
AVERAGE INCOME
Our wealth data indicates income average is $75K.
100%
ASIAN
Our ethnicity data indicates the area is 100% Asian.