I have a couple of questions.
On the website
http://www.floz.co/#!flozt/gr7t8 it says "1 Floz will give you 1 Gram of FlozT". How does that work? A gram of cannabis is at least $10 at any of the dispensaries where I live. Also, you can't just grow weed and sell it to the dispensaries. Growers have to be licensed by the state and it's not an easy process and takes a significant amount of upfront capital to comply with the regulations.
What dispensary is going to accept a cryptocurrency? They are a cash only business since banks will not deal with them because marijuana is still a schedule 1 drug under federal law. Why would they complicate their operation by having to convert an altcoin to bitcoin and then to cash when they are already making huge profits dealing strictly in cash?
There have been many marijuana coins all promising this and that but none of them can be used for purchase at any marijuana dispensary.
I'm not even going to get into the energy drink because that's another can of worms.
Your plan is unrealistic and will never happen.
You are totally correct, it will take a significant amount of capital to comply with regulations and become a grower. Far more then we are asking for on the funding page. But we do have a plan to acquire these funds.
It's outlined on website and coming more information in the new ANN
(Coming today-tomorrow). The first step is to raise enough funds to have a fundraiser party where people can come and taste FlozT and meet us, the team, to ask questions and get a chance to get involved with Floz.
Will we be able to accomplish our capital goal and get licensed? We have to be honest and say it like it is;
We do not know. It will be an uphill road.
Do that mean we should not try?
Hell no. We are gonna give it our best shot.
Second question, accepting cryptocurrency: Again, you are correct with your statement. Dispensary's are cash only business because of the banks.
And I believe some of the answer is in your question. Because marijuana is still a schedule 1 drug and the dispensary's is being
"blocked" by the banks, I see a perfect reason for why an altcoin can thrive. We want to build a model that's easy and profitable for both the seller & the buyer.
The reason we use and love Bitcoin is because it's a superior method of payment, and Bitcoin is fighting against very user-friendly options like Visa. In dispensaries you actually have an easier road to
"acceptance" because you are only fighting against cash.
Our policy for dispensary's wanting FlozT will include that they have to accept Floz for FlozT. But not exclusively, they can still take cash for FlozT. Obviously we can not try to push anything on the consumers. But it's our hope that we can grab their attention.
We also belive that in the beginning we will see a large wave of new people interested in Floz, because of the price you have mentioned earlier. Say a gram costs 10$ like you say, and FlozT comes in and you can purchase a gram for cents on the dollar. People will instantly want to get Floz and know more about it.
We will need to have limits on how much people can buy and etc.. Depending on how much we have managed to grow and many other factors.Summary: Yes we have a tough journey ahead, no point in denying that. We need a lot of capital to be able to get anywhere.
But we have the road to get there. For example, we already have one dispensary that is ready to sell Floz when we are ready to do so. It's because of family relations to be clear, but its still a start.
We also have different other projects as well, but they are all mainly to fuel the FlozT project.
We believe our project has a little dream factor to it, and we will meet a lot of challenges on the way, no doubt about it. However,
it's not totally unrealistic.Put in faith, hard work and a small portion of luck and maybe Floz will be the big marijuana brand in the future.
Hope I gave an OK answer to your questions, and again, thanks for bringing them.
