I learnt about a new
"Exchange-Traded Fund" type of technology coming out in a few months that may be beneficial to
hempcoin.
It is called bitbasket (There are other people trying to do very similar things):
https://bitcointalk.org/index.php?topic=660200From what I can tell, there is no downside to joining a bitbasket group. The inventor has ideas of all coins joining the 1 bitbasket group but what I see happening is people taking the open source code for bitbasket and creating smaller groups.
A few coins could come together and work together for their "bitbasket group (Exchange-Traded Fund)" while at the same time being completely separate from each other.
The creator made claims this would increase security for all the coins in the group.
For now this is all just theory and a white paper. There are a few people working on similar things. Once this code is released joining as many groups as possible should be beneficial. Joining the group has to do with the majority of miners of the bitbasket group accepting your coin and the coin developer creating a new piece of hempcoin plugin code for miners to plug into their bitbasket miner.
Getting in first to these new ETF type groups is going to be very important. Once the first few come out it'll be like coins... another 3 ETFs released today... Creating the second "bitbasket group" with all the other marijuana/hemp coins should bring attention to all the coins in the group and get them all to new levels.
There is also a reddit about this topic and hempcoin if people want to keep the discussion in 1 place (This conversation will probably last 2 months as bitbasket is just a whitepaper now):
http://www.reddit.com/r/thehempcoin/comments/28tbxj/new_exchangetraded_funds_coming_soon_lets_be_part/
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