Latest posts of: DannyKrisp420

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Interesting idea for a project, Cannabis coins are always intriguing. Can you explain a bit more about how the 20% profit will be returned to investors? Are you buying coin from the market or are the profits distributed to people who hold the coin? I like this idea because it will ACTUALLY be backed by Cannabis unlike some of the other coins in the past. What is the timeline for launch? Thanks!

-J

We will distribute the 20% on to the trade markets. There will be a monthly poll as to how that 20% is used exactly. It can be used as either a buy wall or just to buy coins off the books. Details on how the 20% will be tracked from seed to sell will be posted with our full ANN.

Thank you so much for your interest!

- Ryan, Growers Intl.

This sounds really awesome. A currency that is backed up by cannabis. I've got my on this one. Rough estimate on when the launch will be?

Thats a cool idea but what happens to the coins that are bought from the markets? For instance, if 1 BTC worth of coin is bought from the books, is that distributed to all the wallets that hold coin? Is there any incentive for holding more coin or is anyone holding 1 to a million coins treated the same as far as profit sharing?

-J

Great question. We are planning on releasing a lot of these details in our official ANN coming within the next few weeks. We are currently contemplating the idea of buying and burning the coins out of existence. Another way would be to distribute all coins evenly to active wallet addresses. We could also reserve the coins in a vault for future use when the markets are higher in order to fund another warehouse or cultivation location. In the end, the final decision will be held by the community or the given community representatives. What do you think we should do with your 20%?

- Ryan

Its a tough question, but in the spirit of crypto I believe it should ultimately be up to the community. Distributing evenly would not be really fair to large holders, or if people just held 1 coin in multiple addresses, receiving multiple rewards. I like the idea of burning them to make the current coins more valuable because that helps everyone from the 1 coin to 1 million coin holders equally.

We will give the option to the community of choosing a buy wall or to just have the coins bought from the books. Those coins that are in our possession will be burned away. Because this action destroys the funds, it will allow the current value of coins to go up. Because we are not profiting as a company by this action, the 20% could be viewed as more of a test expenditure or even as a donation. Therefor 100% of the capital made by the company will be taxed free and clear. The exact details of this will be gone over with our lawyer and bitcoin tax attorney here on the forum and posted to our website.

- Ryan