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I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
Then you are both wrong...money transmitter...that's laughable. The feds have nothing to do with Cann regulations or finance of that particular industry. +1 What we need is a lawyer to clarify the laws for us. Does anyone know a lawyer who can look into this for us? |
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I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
There are already tons of shops in America that accept crypto as payment. http://www.bitcoinvalues.net/who-accepts-bitcoins-payment-companies-stores-take-bitcoins.htmlCall me paranoid, but your posts are sounding a little bit negative toward cannabiscoin lately. Am I wrong here? I agree, it will be the exact same thing as bitcoin. So this should be the same way for Cann. Why would cann be a money transmitter when bitcoin is not, unless your taking about the exchanges that have fiat to btc. I really dont see a problem here. |
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i repeat it the last time because i'm tired:
i called the fucking herbal wellness center inc in phoenix, i asked them if they will accept cannabiscoin as a form of payment and they said: "YES."
YES YES YES YES YES, IT'S ALL TRUE PERIOD
Did you explain them what it is? Did they say yes and then you did hang or what? E-mail this to devs with contact info and details and they could ask if it's truth. sorry but i know know what your trying to say? |
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Am I the only one here wondering about the economics of this entire thing?
We have an maximum amount of 106,000,000 coins with currently 21873600 coins being mined. With a pegg of 1:1 and an assumed price of $10 a pegg the current coin supply would be worth $2187360000 worth of coins or in other words twohundredsevetysixmillion dollar or in other words more than all other altcoins together. However, the current price of the coinis $0.015 or 1/10000 of the given pegg. Now when people are coming to your business and starting exchanging CANN for candy are you going to sell them the price at a lose? Do you believe the price will rise this extreme until you start exchanging the CANN for candy? How are you planning this to happen with so many people holding and trading with the coin? How are you dealing with vortality?
this is a "classic" question. basic answer is, if you accept them as payment, you dont' sell them at a loss. you hold. this will reduce supply of available coins, increasing price. etc. the market will adapt, and then shop holders can sell them for a useful price. volatility will still be an issue though. liquidity is the term that describes a currencies ability to maintain a constant price while being traded regularly. how it all pans out is yet to be revealed  But most people who have the coin have them aquired through trading and will use them to trade. Currently I am holding meger 10k which isn't even that much but would mean I am entitled to 10kg of candy - with that in mind how could they ever realistically exchange the coins on a 1:1 basis when most of the people got the coin for 1/10000 of the price. If they wanted to use that coin on 1:1 place why did they even sell it on the market place and didn't premine it all and then gave out on this basis? Sorry but the economics behind the coin don't look really thought through. Yes your entitled to 10kg of canndy, but you can only get 3 grams a day. It would take you 30 years or so to get that many, and thats if you go everyday. Most people holding the coins live hundreds of miles away and will most likely be selling them. You dont have to sell your coins on the exchanges. You can sell them to people that live close to the stores on craigslist or ebay. As for the shops they wont sell back untill the price of the coin is atleast 10 dollars or more a coin. A gram of bud is 20 so i see this coin going to around 15 dollars atleast. The people that bought at the low price will be selling around 4 to 5 a coin probably at first. But why would you sell something less than its worth? |
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Are dispensaries going to be selling CANN for fiat?
Most likely when the prices on the exchange are closer to a gram!! They will wait until then though. |
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Just wrote the editor of HighTimes to write an article about CannabisCoin!!!! Should hear back from them soon!! I included the news article from crypto coin news with the email.
YesWeCann
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The Devs should bring Canndy to a CannabisCup... if it is a Prize winning plant, then all People wanna try this weed, but they have to buy cannabiscoin first to enjoy the smoke...  Thank you for the optimism in our strains. We aren't looking into being the "prize" plant. We are looking to make history by providing safe affordable meds to patients while emphasizing the need for crypto. ~Dev Team Hi dev, Im going to write HighTimes tonight and ask them to write an article. I was wondering if you had some key points you would like me to address in the email to them. If you could post what you would like me to send to them it would be helpful for the coin and me. I just dont want to tell them anything wrong. Thank you, BTW |
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Im going to send an email to High-times magazine tonight and ask them to write an article about the 1.1 pegging. You guys should also write them and other news stations and let them know!! hteditor@hightimes.com |
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 Networking and working on acceptance as we speak. . Shame that it is not for this coin.. Thank the "awesome" community for it You came here to troll and now you are claiming how you are working on acceptance for another coin as we were rude on you. Go trolling somewhere else ok? Plus bro even if you can get people to accept a coin, your really going to be that big of a baby that you have to post that here!!? Go post it on (your coin) thread!! We're all adults here and don't wait to listen to a baby cry!! If you were a real man and someone that can make something happen you would do it no matter what anyone says to you!! Your going to let words stand it the way of making money!!? That's stupid and sounds like something a little girl on her period would do!! So grow up!!! You probably can't post it on that coins thread because then you would be a lier right!!? Someone with your type of money could and would be drinking something better than that shit on the table!!! |
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Is there an eta on when the first participating coffee shops will bre revealed ? Is there a location where I could go right now with my cann and exchange them for cannabis ? How do you plan to grow enough cannabis and pay for the growing when tons of people come everyday claiming their cannabis for basically free ? This sounds realy good and I learned from uro not to heavily invest in things that promise huge earnings without definitive prove of its realness  There's no eta that I know of! He said there will be updates soons. He doesn't have to grow 106 million gram in a month!! Not everyone will be going to exchange their cann for bud!! Most people will be selling them!! Plus it's not like someone can walk in there and say here's 1000 cann give me a 1000 grams!!! People will only be able to get 3 grams a day!!! Plus the shops are going to be far for most people to travel to just get 3 grams!!! So you'll be selling them to people that live close by!!! The shops won't lose any money at all!! All the shops are going to do is hold their cann coins until the exchanges catch up to the price!! It's not like they are going to turn around right after you come in and sell it for a penny!! That's stupid!! They will wait until it's about 15 to 20 dollars to sell their coins back!! Just common sense!!!? Think before you post bro!!!! Yep that's the point. I think that the persons that will be buying the weed in coffeshops that accept CANN will gladly pay even 1 whole dollar for 1 CANN if they would be able to buy something worth circa 10-15$. Don't you think the same?  I know they will!!! I myself would pay 10 to 15 dollars per coin if I could get a gram for them!!! I smoke all the time and I pay 20 a gram!! I smoke about 2 grams a day sometimes more!! So 10 to 5 dollars off a gram I'm going to be a very happy stoner!!!! Lol the people that are really losing money with this are the people selling at a penny right now!! Lol I hold mine as i belive it will gain value, and as soon as it gets accepted in coffeeshop/s that also tourists can enter, everybody will be interested! Think about the people that need it for medical reasons!!! They probably buy an oz a week or so!! Let's say cann is at 10 dallors a coin!! They will be saving 50% on their medical bills!! And that's still selling your coins at 10 dollars not a penny!!!? They will save 50% who won't buy something that saves them that much!!? |
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Is there an eta on when the first participating coffee shops will bre revealed ? Is there a location where I could go right now with my cann and exchange them for cannabis ? How do you plan to grow enough cannabis and pay for the growing when tons of people come everyday claiming their cannabis for basically free ? This sounds realy good and I learned from uro not to heavily invest in things that promise huge earnings without definitive prove of its realness There's no eta that I know of! He said there will be updates soons. He doesn't have to grow 106 million gram in a month!! Not everyone will be going to exchange their cann for bud!! Most people will be selling them!! Plus it's not like someone can walk in there and say here's 1000 cann give me a 1000 grams!!! People will only be able to get 3 grams a day!!! Plus the shops are going to be far for most people to travel to just get 3 grams!!! So you'll be selling them to people that live close by!!! The shops won't lose any money at all!! All the shops are going to do is hold their cann coins until the exchanges catch up to the price!! It's not like they are going to turn around right after you come in and sell it for a penny!! That's stupid!! They will wait until it's about 15 to 20 dollars to sell their coins back!! Just common sense!!!? Think before you post bro!!!! Yep that's the point. I think that the persons that will be buying the weed in coffeshops that accept CANN will gladly pay even 1 whole dollar for 1 CANN if they would be able to buy something worth circa 10-15$. Don't you think the same? I know they will!!! I myself would pay 10 to 15 dollars per coin if I could get a gram for them!!! I smoke all the time and I pay 20 a gram!! I smoke about 2 grams a day sometimes more!! So 10 to 5 dollars off a gram I'm going to be a very happy stoner!!!! Lol the people that are really losing money with this are the people selling at a penny right now!! Lol Think about the people that need it for medical reasons!!! They probably buy an oz a week or so!! Let's say cann is at 10 dallors a coin!! They will be saving 50% on their medical bills!! And that's still selling your coins at 10 dollars not a penny!!!? They will save 50% who won't buy something that saves them that much!!? |
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Is there an eta on when the first participating coffee shops will bre revealed ? Is there a location where I could go right now with my cann and exchange them for cannabis ? How do you plan to grow enough cannabis and pay for the growing when tons of people come everyday claiming their cannabis for basically free ? This sounds realy good and I learned from uro not to heavily invest in things that promise huge earnings without definitive prove of its realness There's no eta that I know of! He said there will be updates soons. He doesn't have to grow 106 million gram in a month!! Not everyone will be going to exchange their cann for bud!! Most people will be selling them!! Plus it's not like someone can walk in there and say here's 1000 cann give me a 1000 grams!!! People will only be able to get 3 grams a day!!! Plus the shops are going to be far for most people to travel to just get 3 grams!!! So you'll be selling them to people that live close by!!! The shops won't lose any money at all!! All the shops are going to do is hold their cann coins until the exchanges catch up to the price!! It's not like they are going to turn around right after you come in and sell it for a penny!! That's stupid!! They will wait until it's about 15 to 20 dollars to sell their coins back!! Just common sense!!!? Think before you post bro!!!! I know I'm selling mine!!! I can then just buy bud with the money I make!!! |
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Hey guys, i'm new at crypto currencies, so i was watching CANN at bittrex and noticed that the price its still going down, so i can assume that before it goes higher, need to start the transactions with the dispensaries right? Then the coin will have value?
Yeah it should, most people just don't believe and are afraid! But once they know for a fact they can go to a shop and exchange it for 20 dollars worth of bud then people will stop dumping so low!! |
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Hey Devs,
When can we expect a list of shops for patients? Or any further news!!?
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Can someone tell me something.
Is medical Cannabis available as a free prescription in the states is legal?
Where I come from cannabis isnt legal for any use.
I'm pretty sure they don't get it completely free, but more of a discount card!! Plus most people that smoke here probably don't have insurance!!! You get yours probably free, we have to pay!! |
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Currently 40€ are buying me 4 kilo of dope. Where can I pick them up?
You guys know you can't get them all in one day right!!?? |
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GTW welcome to my ignore list and fuck you very much.
Agreed. Ignored for being a tool. Some people, sit behind their keyboard and think nothing of the world outside their own befuddled ways of thinking. Atleast I'm thinking of ways to make money!! When you guys are sitting at home selling yours for a penny!? I'm using my brain to come up with something that I'll make 1000 x more than you guys!! Thats the funny part m8,no one seems to care ..Only reactions i see is you being added to peoples ignore list Why would I care about that!!? I don't know you people!!! Plus I wouldn't want to get to know you guys either!! The crypto world is filled with dicks scammers and people always dumping!!! So maybe keep your multimillion dollar business ventures to yourself lot of us are waiting for news and updates ty Haha okay buddy!! See your a nice guy!!! Lol I can't wait!!! 1 more hour!!! |
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GTW welcome to my ignore list and fuck you very much.
Agreed. Ignored for being a tool. Some people, sit behind their keyboard and think nothing of the world outside their own befuddled ways of thinking. Atleast I'm thinking of ways to make money!! When you guys are sitting at home selling yours for a penny!? I'm using my brain to come up with something that I'll make 1000 x more than you guys!! Thats the funny part m8,no one seems to care ..Only reactions i see is you being added to peoples ignore list Why would I care about that!!? I don't know you people!!! Plus I wouldn't want to get to know you guys either!! The crypto world is filled with dicks scammers and people always dumping!!! How would anyone know that you guys aren't one of the dev that scammed people!!! One of the only and best devs I have seen are right here working for CANN coin!! That's why I love this guys!!! Great people!!!! |
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GTW welcome to my ignore list and fuck you very much.
Agreed. Ignored for being a tool. Some people, sit behind their keyboard and think nothing of the world outside their own befuddled ways of thinking. Atleast I'm thinking of ways to make money!! When you guys are sitting at home selling yours for a penny!? I'm using my brain to come up with something that I'll make 1000 x more than you guys!! |
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Next gen weed dealers will be seen standing outside dispensaries peddling paper wallets Then a new scam will pop up. Bogus paper wallets...that look good, but have no CANN. I would allow them to check each one they buy!!! So everyone will trust me!!! Jesus H Keyrist man, get your head out of your stoned ass. I did NOT say you would be selling bogus wallets. And who the hell you think you are calling us fools? Jackass. So what do you call someone that sellings something for a penny when the guy you sold it to makes 19.99 dollars off that same thing!!? |
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