Hi Guys

just a couple of things:

firstly, mining is not "coming to an end" and as far as I am aware there are no plans to terminate it at all.

What is looming is another reduction in the mining subsidy - this happens every 100,000 blocks. On or about the 6th of July the mining subsidy (the amount added to transaction fees paid to the miner for the current block mined) will halve from 3.28125 CANN to ~1.64 CANN. This means that only ~3,380 new CannabisCoins are to be minted each day. This is a huge reduction from the initial distribution rate where ~865,000 CANN were minted daily.

What does this mean for CannabisCoin?

Miners are vital to proof of work (POW) coins like CANN (to keep the block chain moving and secure) so the expectation is that miners will be able to profit from mining CANN. Current exchange rates suggest the returns are currently marginal for miners, at best. Miners are about to lose half their subsidy. Is the reduced availability of newly-minted supply likely to double the exchange rate to maintain miners' viability? Is there expected to be a significant increase in transaction fees (meaning product is to be released into the CANNdy inventory, perhaps)? On reflection, even a small release would likely double CANN's exchange rate simply because it is tangible evidence of progress.

So many fascinating possibilities to ponder...

Will there be a major dump, as suggested by chemal? I strongly doubt that. People are accumulating, the exchange rate is slowly but inexorably increasing so I just don't see anyone ditching a coin that is reducing new supply.

zoata87 is mistaken, there is no "end of POW phase" but there is a looming reduction in the minting rate of new supply.

My guess? Absent a "shock event" like the announcement of another milestone achievement or new product release I think there are plenty of buyers convinced of CannabisCoin's long-term potential who will continue to buy up available supply, probably squeezing the exchange price into the 2.5k-3.5K sat range.

Of course, any announcements are likely to see it race far past that.

Well, each to their own but I would suggest that with 775K blocks already mined you might be better off in a pool.

91,431,248 CANN, give or take...

In 15 days from now, at about 02:00GMT if the average of 42 seconds/block holds true.

Good for you and thank you for your service (miners can be an under-appreciated group).

You are correct about it being something of a last rush, even from a mining perspective. On average there's about 2,060 blocks mined per day and the reward is down to 3.28125 CANN per block now, so only about 6,750 new CANN are minted per day. In 17 days or so the reward will halve once more (mining subsidy halves every 100K blocks). The days of picking up 50K new CANN in a week at miner sale prices are rapidly coming to a close.

Yes and well, no actually.

While many of us might know without the shadow of a doubt that firearms are good to have and use properly, that they can no more be "bad" than a hammer or a brick might be "bad", the associated visuals are firearms and war, firearms and drive-by shootings, firearms and angry, messy death and injury. For the media it is a no-brainer associating firearms with violence and illegal acts.

Medical marijuana, on the other hand, is a completely different visual. Search online for medical marijuana and you get footage of sick kids being helped, stories of MS patients having their symptoms relieved, cancer patients with their lives markedly improved and information that marijuana is so much less harmful than legal alcohol.

Couple that with the fact that a significant portion of the media's target audience have had good personal experience with marijuana, something with which the media's paymasters, the advertisers, don't wish to clash and you have an entirely different paradigm.

In short, guns and crypto equals something bad in the media-influenced public mind, so you get the association of criminal activity, silkroad, bitcoin thefts and fraud. Negative association and connotation, so crypto equals bad.

Not so with medical marijuana and crypto. The association is sunshine and rainbows, helping sick kids, returned service men and women and people with a range of debilitating illnesses. Heck, marijuana-based treatment could help ward off much-loved grandma's dementia. All these positive things could be done, if only the government would get out of the way, if only caregivers and patients could use their credit/debit cards at the dispensary. But wait, they can use crypto on their phones without the need to carry cash and become a target for bad people (with guns, according to the media). Positive association and connotation, so crypto equals good.

For these reasons I don't think it will be difficult to overcome negative connotations at all. Once the product starts hitting the shelves in bulk and a few weather-girl wannabes doing those terrible "people in the street" interviews ask grandma "isn't she afraid to get her medicine carrying all that cash" get the response "oh no dear, I just use CannabisCoin on my phone" the story becomes "crypto helps patients to safely overcome government interference."

People love to complain about politicians getting in the way of something good and they love to champion the underdog that is sticking it to government and achieving good anyway. The CannabisCoin story is one that virtually tells and sells itself, it just waits on bulk product being available.

Of course it exists.

Not just the "original intention" but CannabisCoin's "raison d'être", see the OP:


Does this mean you can get an unlimited amount of marijuana in exchange for CannabisCoin [CANN]?

Don't be stupid. Marijuana legalization legislation does not permit that and even if it did no one is going to donate unlimited product just so you can get high or resell it. Go back and read the quoted section from the OP. Keep doing so until you understand that this is about getting quality meds to mmj patients, preferably at a subsidized rate. Realize too that CANN may be used for any purchase at the current exchange rate - the peg only applies for CANNdy mmj.

Now, if you are done being "dopey" you might like to consider why a lot of people feel that CANN will gain considerable value.

In the same manner as say, produce growers dedicate some of their crops to food banks, DeltaNine and recruited growers are donating portions of commercial grows into the CANNdy inventory. As supplies increase more dispensaries are expected to become part of the Yes We CANN movement, if for no other reason than preventing their patient client-base from going to other dispensaries that do distribute CANNdy. Nothing prevents dispensaries from donating any product into the CANNdy inventory right now, they do not have to wait for specifically grown product to join the Yes We CANN movement.

To do so these dispensaries/shops put in the necessary infrastructure and staff training to handle purchases with CannabisCoin, in its most basic form that amounts to little more than a wallet and printed Qr code so it is not an expensive process. Once the infrastructure is in place there is no overhead involved in utilizing CANN for cashless transactions and this is where it becomes particularly interesting. Even though the current administration has instructed that state-legal businesses should not be prosecuted banks find compliance costs too high and consequently refuse to provide banking services to marijuana businesses. As a result of this marijuana businesses are drowning in cash for want of electronic cashless point-of-transaction services.

Don't think that cash is a problem for marijuana businesses? Here's a few little news items you might find interesting: Protecting Marijuana's $2.7 Billion Cash Industry When Banks Won't; Significant Setbacks in Cannabis Banking Slow Recent Momentum; Security Firms Thrive While Cannabusiness Seeks Banking and so on. The information is out there if you care to look rather than giggling like fourth graders over "look, I can get weed for CANN, te he".

Enter CannabisCoin as a cashless service provider. One that is likely to grow organically as crops become available for donation into the CANNdy inventory.

Sourcing CANNdy depends partly on trial-and-error testing to find the right source strains to deliver the desired output and which will thrive in a given grow location. This is a process which does not happen overnight. There's a lot time consumed in finding legal grow sites (yes, locations are controlled), finding the right strains, propagating and distributing to growers, actually producing the crops, harvesting, curing, testing before packing and finally distributing the product. People expecting to be flash millionaires should calm down and realize this is a project which will take years to bring to fruition - for DeltaNine this is a lifetime mission to bring quality meds to mmj patients at a reduced cost.

So what is in it for the donors of CANNdy?

Why do any of us give? Fortunately it is just part of the social nature of humanity although there are benefits besides.

For growers now there's only the good feeling of giving to those in need, although they may find their lives made easier later by transacting in CANN depending on future federal and banking moves.

For dispensaries and shop owners it's a way to show their appreciation to their patients by donating some medication into the CANNdy inventory. Of course, the more patients and general purchasers they get using CannabisCoin for some or preferably all of their transactions the less of a cash problem they have and the greater the safety for all involved. Heck, just the safety factor of reducing cash transactions alone is sufficient to justify donating into the CANNdy inventory and even the most hard-hearted and mercenary of dispensary owners can see the profit in reducing the insurance cost of the amount of cash on premises. There's also the benefit of reducing the cash temptation factor for employees because employee theft is unfortunately a major issue. Couple all that with retaining/increasing your client base then donating into the CANNdy inventory just makes sense.

So what about those who are neither patients seeking to reduce the cost of medical marijuana nor dispensaries seeking their business, what is in it for the speculative purchaser?

Some purchasers are driven by charitable giving, stockpiling cheap CANN against a time when recreational mj trade might drive CANN to parity pricing if the feds do not change marijuana's schedule one listing and banks continue to decline marijuana business. Stockpiling now will permit the establishment of charitable funds to continue subsidizing needy patients' medicine.

Others of course are in it solely for profit. For the reasons listed above they expect CANN to increase in value and are making speculative purchases now. Even though their motivation is personal profit they are extremely helpful in these early stages. How? By keeping the market buoyant during the long period of low apparent activity, the period when phenomenal effort is made behind the scenes but little change is apparent to outside observers. It is the speculative traders who are providing the "carry-on" funding for the miners busily hashing away, keeping the CannabisCoin block chain moving along, providing transaction security.

There's your answer, perhaps a little more nuanced than you had expected but the bottom line is: "Yeah, it actually exists!"

Couldn't agree more about parental responsibility but to appease the anti-marijuana-under-any-circumstance crowd it may be necessary to have child protection codified into mj legislation, which I don't see as a problem.

The good news is that despite the Time piece being "highly cited" (according to google, at least) the item does not seem to be garnering too much interest. Only a fraction of the headlines directly associate legalization with child risk.

So far, so good

When you quote others Fineius can you leave the original quote link embedded please? It is fine if you want to alter the format for readability, just do so by leading with something like Otherwise it looks as though you are trying to impersonate the CANN team. It also makes the threads difficult to follow with random month-old responses popping up.

Thanks.

How large a backlash should we expect from this?

"Rising rate of marijuana exposure among children 5 years old and younger

Debates about legalizing marijuana have focused on crime rates, economic benefits, and health effects among adults. But a new study shows that the risk to young children of swallowing, breathing in or otherwise being exposed to marijuana also needs to be considered." --Nationwide Children's Hospital via ScienceDaily

The anti-legalization brigade are always looking for ammunition and ForTheChildren^TM always plays well in the press.

As a parent I am really concerned about people's lax handling of medicines where young children may get access - all medicines - but I fear this will be taken out of proportion and used as a cudgel by "big pharma"-supported groups to hamper legislative efforts.

I hope everyone will read carefully, do their homework and argue from facts when engaging on this topic. Medical marijuana is medicine and children should always be protected from accidental access to any and every medicine. Of course we favor child-resistant containers from dispensary to use and stringent measures to protect children from accidental and incidental exposure, doesn't everyone?

Is this a valid analysis? How does the charitable donation system work in the U.S.? CANNdy is donated product so technically its value is $0? How is value added tax calculated on gifted product in the U.S.?

CANN is not legal tender (you can not go to any store or bank and tender it as payment), it's an electronic token, a coupon, if you will.

How does Uncle Sam tax coupons? If you go to a store with say, a two-for-one coupon where you buy one item of a specific product you get another one free, do you pay the value added tax for one item or two? Somehow I doubt that you pay double tax. Australia has a goods and services tax (GST) where the retail dollar value of items is taxed. Product giveaways and promotional items are given to consumers down-under without asking them for GST. I think people would be very upset if they were taxed for two items on a two-for-one promotional item and any such attempt would likely bring the government down.

So, how would states handle taxation on a donated item?

The way I see it and this is an Australian perspective, CannabisCoin purchases for general goods (including marijuana products not donated, i.e., not CANNdy) will be a U.S.$ value, including tax where applicable, converted at current exchange rates. If greedy politicians determine that donated CANNdy is subject to value-added taxes (and mindful that the most dangerous place in the world is to be between a politician and a pile of money) then one CANN is equivalent to one gram of CANNdy including tax because, as shown here, there's no additional cost involved.

Under the above analysis then the tax component is included in the exchange value of CannabisCoin. The price of CANNdy is not one CANN plus tax in USD, just one CANN. To me this says CANN could indeed rise to the total retail cost of one gram of marijuana. If Uncle Sam or his representatives demands a tax value on donated CANNdy then the purchase price of CANN will need to reflect that and the exchange value of CannabisCoin must rise to at least cover the tax payable. Irrespective of the background transactions where the dispensary exchanges the CannabisCoin received to USD and then pays the U.S. Treasury via the I.R.S. or however it is done there, the face value of CANN is the total cost of one gram of CANNdy brand medicinal marijuana.

tl;dr:

As previously stated, I'm an Aussie so I may have completely the wrong idea about how U.S. internal revenue is calculated and handled. Feel free to correct me. As I see it One CANN = One Gram, not "one gram for one CANN plus federal and state taxes in USD". This implies that the exchange rate will need to reflect any "tax paid" component or, in other words, the total, all-inclusive price of one gram of marijuana.

It is exactly the same wallet, just comes with some of the blockchain already downloaded. The use of the bootstrap download I listed above is even faster.

Edit: Let me make that slightly clearer, both downloads are CannabisCoin-0.8.6.3b. The "fast setup" version is now redundant, I should have that link removed. The only difference in the two is that the "fast setup" install includes a small portion of the block chain but it is out of date, the bootstrap file contains much more of the block chain and is now the faster installation method.

@acad14n

If you had coins in your wallet I do so hope you saved your wallet.dat file, if not you have possibly lost them.

Windows 7... Okay, go to the start menu and type %appdata% into the search box, complete with the "%" at both ends.

Windows should offer you "Roaming" in the results, click on that and a folder window should open.

You are looking for a directory named CannabisCoin. It is possible that by installing both wallet installs Windows has made more than one such directory with slight changes to the names.

If you had coins in your wallet then save the wallet.dat file from the directory labelled "CannabisCoin" to somewhere you can find it again easily (Downloads or Desktop, anywhere handy) as this may be your original wallet.dat file.

After doing so you can then uninstall CannabisCoin and delete the CannabisCoin directory, along with any CannabisCoin[1] or similar which Windows may have created.

Now install just the plain vanilla version of CannabisCoin, you don't need the "fast" version as we are going to use the latest bootstrap file.

Start your wallet and then stop it after a minute or two, that will create the correct directory structure. If you saved a wallet.dat file you can copy it back now, replacing the new wallet.dat file created with the new directory structure.

Download the bootstrap.dat file from here:  https://mega.co.nz/#!XcBkxKKa!C_u1FVhBnGM09ZHnMOUfQ-utFH1A5gwEBSIpf7jtR0g, unzip it to %AppData%\Roaming\CannabisCoin and then restart your wallet, that will take you up to about 670K block height reasonably quickly, after which your wallet should complete downloading the block chain from the network.

Feel free to PM me here if you are having difficulty.

Good luck and have a nice day

I take it you mean the wallet just shows the splash screen while it rescans. That would be normal provided it then went on to load the rest of the blocks from the bootstrap file before completing from the network.

If that worries you then simply rename the bootstrap file to bootstrap.dat.old (the wallet will do that itself when it finishes loading blocks from that source) and restart again.

If you do that can you please open the debug console (Help => Debug window => console tab) and type in "getpeerinfo" without the quotes and report the results.

Download the bootstrap.dat file from here:  https://mega.co.nz/#!XcBkxKKa!C_u1FVhBnGM09ZHnMOUfQ-utFH1A5gwEBSIpf7jtR0g, unzip it to %AppData%\Roaming\CannabisCoin and then restart your wallet, that will take you up to about 670K block height. See if it picks up network sync from there.

Ok, so you have text like this:

addnode=seed.cannabiscoin.net
addnode=seed2.cannabiscoin.net
addnode=seed3.cannabiscoin.net
addnode=seed4.cannabiscoin.net
addnode=seed5.cannabiscoin.net
addnode=seed6.cannabiscoin.net
addnode=cann.cryptoservices.net

in %AppData%\Roaming\CannabisCoin\cannabiscoin.conf (%AppData% is a shortcut for \Users\[YourUserName]\AppData).

If your wallet has never connected I assume you have used bootstrap.dat to load the blocks so far. Have you made sure Windows did not add .txt to the filename, i.e., cannabiscoin.conf.txt? 'doze has a nasty habit of doing that (you may need to uncheck "hide file extensions" in the directory preferences to see that).

If all is in order then I suggest you shut down your CannabisCoin wallet and restart it - many Qt wallets occasionally require that.

Edit: I'm a little mystified over the statement your wallet has never connected and the block height - the bootstrap file should take you past that number. Looks more like the Qt wallet stalled loading from the network.

What operating system are you on?
Have you got a cannabiscoin.conf file in the appropriate directory?
What are its contents?
Has your wallet connect to the network previously?
What block number are you up to?
If the wallet has been working correctly and simply stopped synching have you stopped and restarted your wallet...

A little more information will help us to help you

Why? The great majority of CannabisCoin trading occurs on BitTrex, which has seen more than four times the total coin supply traded on its platform this past year. Trading has been a bit quiet lately and I think it has been over a month now without trading over 1M CANN/day*. I guess Cryptsy is in second place for CANN turnover, although recently it has been a rare event for them to trade 100K CANN/day.

There are also AllCrypt, Bleutrade, Bitspark (traded as CAN) and Yobit exchanges available to those who can't or won't trade on the first two platforms, although I don't think they do any volume to speak of.

With regard to future trade price, if the Feds fail to reschedule marijuana then banks will remain reluctant to provide financial services to marijuana businesses and CannabisCoin offers a means of cashless electronic transaction. As crops of CANNdy are released and exchanged for CANN more dispensaries are likely to join the Yes We CANN movement and adopt infrastructure to handle CANN transactions. This might lead to CANN's wider adoption and the 1:1 peg tentatively values CANN as equivalent to one gram of marijuana. Even if heavily discounted that does suggest an eventual price of several dollars per CANN, although it could take years to achieve.

* My days are measured 24 hours from GMT+10 so your mileage may vary, as they say and readers in other time zones may see periods of 24 hours with greater than one million trade where I do not.

Hi John. The question of promo packs is quite reasonably raised from time to time but gets complex very quickly.

The blunt answer is no, there is no such material.

Why? Basically because despite various states enacting legislation to the contrary marijuana remains federally illegal in the U.S. and each state has its own peculiar laws and idiosyncrasies. Worse, federally the U.S. of A. has a distinctly schizophrenic response to state-legal marijuana enterprises. On the one hand you have politicians directing that enterprises should not be prosecuted where state-licensed and on the other you have agencies raiding, seizing both cash and product and federal attorneys prosecuting state-legal dispensaries and grows. In DeltaNine's words:
The more that ∆9 and his various partners have invested in this venture the greater their risk and federal exposure, consequently they are adopting a much lower profile than was evident until the October event.

There's another reason too, if you think about it.

Crypto and cannabis are two of the most controversial commodities in the U.S. today. That makes CannabisCoin a tempting target for ambitious conservative hopefuls wanting to be noticed, don't you think?

If you have a promotional brochure, what is to stop some eager beaver at the Securities and Exchange Commission deciding that it is a prospectus? Not much of a stretch for federal attorneys to launch a securities case given that speculative crypto traders already incorrectly call themselves "investors".

To protect against that how much legalese would need to be included highlighting the facts that while CannabisCoin is backed by donated medical marijuana and the intent is that mmj patients can redeem each electronic token, hereinafter referred to as CannabisCoin or CANN, for approximately one gram dry weight or equivalent medicinal marijuana product, hereinafter known as CANNdy, at participating dispensaries and subject to availability of said CANNdy, no right, lien, share or ownership of any part or portion of the growth and/or means of production of CANNdy, nor its means of transport, distribution and/or dispersal, be it wholesale or retail, is implied or conferred upon the holder of said CannabisCoin.

I wouldn't be very good at it, would I? You get the idea though, everything has to be tediously, meticulously and legally defined, especially the point that CannabisCoin has provided no funding, provides no financial support for and has no interest or holding in the grow facilities and/or any future dispensaries. In short, CannabisCoins are digital tokens and specifically not shares of any entity of any description.

Is the risk worth the reward trying to produce a non-prospectus brochure? I'd say definitely not. As crops are produced and distributed CANNdy can be advertised as available, then more dispensaries will want to get into the Yes We CANN movement, if for no other reason than to avoid losing patients to participating dispensaries.

That doesn't really help with what you are trying to do though. I'd suggest the best way for you to promote CannabisCoin and the Yes We CANN movement is to quote some of the more interesting portions of the OP. Providing a synopsis of that should be reasonably safe and you can tell your prospective buyers/traders that ground preparation for the first of the outdoor grows began at the end of May so they can estimate when crop distribution might take place.

Umm, no... I think when ∆9 says stress testing that's what he means. Perhaps something along these lines: Feminised Stress Test. That's why I was asking about seed production and possible distribution

Glad to hear you are helping to secure the blockchain, too.