Alright.. I have been thinking a lot about this recently...
What is the main "magnet" for people to buy CANN?
1 CANN for 1 gram of marijuana is not realistic! Even if the dev is growing his canndy.. I doubt he is growing millions of grams! In a dutch coffeeshop a good quality weed already costs you about ~8-9 euro
This is not meant as fud, but purely interest! I am a well known figure in a few regions in the netherlands, cannabis related of course
I cant see this happening.. I really cant. Why would someone sell his weed for 1 cann? if he can sell it on the streets for at least 5$ a gram
It doesnt make any sense to me at all! I also spoke to a few coffeeshop owners if they are willing to accept CANN or BTC as payment. They all answered no. Because they will lose money on it, since its cryptomarkets. And not 1 coin has a stable value. I told them later on in the conversation there are multiple auto exchange platforms available, but that would mean interference from other companys to do the trading. Marijuana related "companys" dont like interference
At least not where I come from
I do hold a small stake in cann. I have around 30K atm. Please give me good reason to stock up more, besides the "upcoming 420 pump"
Thank you,
Banzai
This comes up from time to time so perhaps it is worth addressing again:
The 1 CANN = 1 Gram peg only applies to supplies of CANNdy.
CANNdy is donated medical marijuana, either purpose grown by cultivators in the same manner as some farmers set aside a portion of their crops for donation to food banks or it is product donated by the dispensaries themselves.
Naturally CannabisCoin (CANN) may be used for other purchases but then the value is whatever the current market exchange rate happens to be, the 1:1 peg value does not apply.
There is not and never will be any
requirement to supply 92 million grams of CANNdy although it is perfectly feasible to do so. Note that in Arizona alone in 2014 medical marijuana patients purchased some 10 million grams of medication, up from 3 million in 2013. I believe the recent feature on the legal cannabis enterprise cash problem in the U.S. called it a $2.7 billion industry in 2014, that would equate to 270 million grams at $10/gram. Not that every coin is going to be in use, most will likely be in patients' savings or in the hands of traders or market accounts. As CANNdy is distributed and CANN's value grows and stabilizes it will become attractive as a hedge currency among crypto currencies too, again putting pressure on supply. It is possible that at some point in the future it may become necessary to increase the currency supply to keep the exchange value of CANN down low enough to meet the 1:1 peg - only time will tell.
It seems that quite a few people coming here miss a couple of key items on the OP - take the time to carefully read and understand these quotes:
The Yes We CANN movement is about medical marijuana dispensaries and shop owners that participate in providing safe, affordable, and quality medicine utilizing CannabisCoin as payment. This movement is a way for dispensaries and shop owners to show their appreciation to their patients by donating some medication into the CANNdy inventory.
and
CANNdy is a supply of meds that consists of strains grown specifically for CannabisCoin purchases and/or strains that can be purchased at the rate of 1 Cannabis Coin (CANN) to approx. 1 GRAM of medication.
CannabisCoin and the Yes We CANN movement are about charitable giving. DeltaNine is on a mission to help medical marijuana patients. Those who understand how profitable charity can be will likely do well with CannabisCoin. On the other hand those racing in here in the full fever of avarice, expecting ∆9 to make them rich, preferably by yesterday, are likely to get badly burned.
CANN does not operate on the common pump-and-dump altcoin model.
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