Legalization of Marijuana in US can BTC help sell weeds?

[justallen]

Marijuana has a long and sorted relationship with the American legal system. At the turn of the 20th century, cannabis was one of the nation’s top elixirs and cure-alls, but over the last couple of generations, laws and regulations have made it a legal nightmare. It is treated as harshly as heroine and accounts for a large chunk of America’s 2.5 million citizens in prison.

On Tuesday, in addition to Donald Trump’s upset victory, Marijuana was legalized for use in seven out of eight states there was a voting referendum (Arizona defeated it.) This is a good start, but that is only half the battle. Can Bitcoin help with what comes next?

[xdrpx]

The voters as a part of the reform laws for Marijuana especially under the clause of recreational cannabis means a good business for those who accept to allow people purchase medical marijuana for Bitcoins. I was pleased to hear that the state committee members of North Dakota had decided to vote for it considering its treatment for cancer and epilepsy. With California Proposition 64 in place, I think several legal vendors selling cannabis would increase sales, at the same time accepting Bitcoins as a payment would instill growth in some way. I'm sure a lot of illegal drugs are sold in the dark net with the use of Bitcoins, but if a legal reason exists for those who are sufferers of such diseases, can purchase it legally from pot sellers with their ID and Bitcoins.

[Juggy777]

Yes that's a news that really wasn't surprising, we all had been anticipating this move. Yes I feel Bitcoin will play a major role in buying and selling, as even the outside states that haven't regularised, will sell and and accept payment in Bitcoins. This will increase the regocnization, so thumps up to it.

[aso118]

Now that it is legal, bitcoin has no more role to play than it has in the sale of any other goods.
It might remove the middleman and save transaction costs, but nothing further.

[Yakamoto]

Marijuana has a long and sorted relationship with the American legal system. At the turn of the 20th century, cannabis was one of the nation’s top elixirs and cure-alls, but over the last couple of generations, laws and regulations have made it a legal nightmare. It is treated as harshly as heroine and accounts for a large chunk of America’s 2.5 million citizens in prison.

On Tuesday, in addition to Donald Trump’s upset victory, Marijuana was legalized for use in seven out of eight states there was a voting referendum (Arizona defeated it.) This is a good start, but that is only half the battle. Can Bitcoin help with what comes next?

Bitcoin will do nothing to benefit more states getting marijuana, what has to happen is the states have to decide based off of referendums and they will dictate whether or not it is going to be permitted.

The issue with Bitcoin is that it can't really do anything. Government regulations will dictate what happens within each of the states, and because of this, Bitcoin might not be a permitted payment form.

[btcdevil]

Marijuana has a long and sorted relationship with the American legal system. At the turn of the 20th century, cannabis was one of the nation’s top elixirs and cure-alls, but over the last couple of generations, laws and regulations have made it a legal nightmare. It is treated as harshly as heroine and accounts for a large chunk of America’s 2.5 million citizens in prison.

On Tuesday, in addition to Donald Trump’s upset victory, Marijuana was legalized for use in seven out of eight states there was a voting referendum (Arizona defeated it.) This is a good start, but that is only half the battle. Can Bitcoin help with what comes next?

Bitcoin will do nothing to benefit more states getting marijuana, what has to happen is the states have to decide based off of referendums and they will dictate whether or not it is going to be permitted.

The issue with Bitcoin is that it can't really do anything. Government regulations will dictate what happens within each of the states, and because of this, Bitcoin might not be a permitted payment form.

But what about other country law, will it also get affect as in other country marijuana is not legal and still it is offence to do any sort of business in that

[Milkduds]

Making something legal means it is now under more scrutiny and therefore not going to be connected to bitcoin until bitcoin is recognized as a currency by the American government. The interesting aspect now is how the banks play ball with companies they have been causing to jump through endless hoops.

[Razzgoku]

There are countries where marijuana is illegal and i think BTC can help play a role for buyers of weed in those countries .

[Kprawn]

The  average cost of housing an inmate in the U.S. was $31,286 in 2012. So it has it's benefits, but Marijuana is also seen as the first step to

harder drugs, which is not good. The legalization of the drug, will influence Bitcoin in a good way, because people will now sell it legally

through regulated merchants and customers will want to do it anonymously and bitcoin will over them the opportunity to do that. Why

anonymously? ....because it will still have a negative stigma for a while. 

[MingLee]

Marijuana is not going to receive any benefit from Bitcoin, and the states are going to have to legislate it on their own. Bitcoin will likely not be accepted for marijuana purchases, and if they do accept Bitcoin, all it does is bring up the revenue of the industry. Nothing much bigger.

[Milkduds]

The  average cost of housing an inmate in the U.S. was $31,286 in 2012. So it has it's benefits, but Marijuana is also seen as the first step to

harder drugs, which is not good. The legalization of the drug, will influence Bitcoin in a good way, because people will now sell it legally

through regulated merchants and customers will want to do it anonymously and bitcoin will over them the opportunity to do that. Why

anonymously? ....because it will still have a negative stigma for a while. 

It cost 114K per prisoner here in Canada! Seems like Canada should ship our prisoners to the States and we could all profit.

Do not be so quick to jump on a registry or any lists stating you smoke or use pot either. Governments are known to change their minds and then they have a nice little list of people that they can go after. I tend to look at my library card that way as well,so take me lightly.

[LilibethSantos]

Bitcoin really only helps the sale of black market marijuana. People can still go to jail in states that are illegal whether the marijuana was purchased with fiat or bitcoin.

[LordCoder]

Now that it is legal, bitcoin has no more role to play than it has in the sale of any other goods.
It might remove the middleman and save transaction costs, but nothing further.

Indeed. Basically the point of Bitcoin was to purchase it 'pseudo-anonymously', or at least without saying to the cops to come directly.

But yes, now it has no other point anymore except being another currency. It now depends on the people accepting them.

[bitbunnny]

It doesn't matter how you purchase marijuana if it's illegal in your country. Bitcoin or fiat doesn't actualy make the difference, police will get on you.
But people are buying marijuana on dark markets with Bitcoins hoping they will preserve their anonimity. Sometimes that works, sometines don't because it's geting easier to reveal the identity.

[Shiroslullaby]

Now that it is legal, bitcoin has no more role to play than it has in the sale of any other goods.
It might remove the middleman and save transaction costs, but nothing further.

Yeah if people are buying seeds or grow supplies online they may use a payment like Bitcoin,
but the transaction time is too long for in-store purchases.
People will just use cash/ credit card to buy cannabis in dispensaries.

[erikalui]

Bitcoins, unfortunately, is used to buy illegal products (like darknetmarkets) and those who can buy it legally wouldn't choose bitcoins as a payment mode as they can buy it legally in dollars. I heard about marijuana being a beneficial medical drug but it's been misused too which again makes it legality a big question so I'm not sure why it's made legal.

[shiryu]

I do not think so, if marijuana still illegal probably drug dealer will use bitcoin for the payment because bitcoin mostly used for illegal activity.

[South Park]

Marijuana has a long and sorted relationship with the American legal system. At the turn of the 20th century, cannabis was one of the nation’s top elixirs and cure-alls, but over the last couple of generations, laws and regulations have made it a legal nightmare. It is treated as harshly as heroine and accounts for a large chunk of America’s 2.5 million citizens in prison.

On Tuesday, in addition to Donald Trump’s upset victory, Marijuana was legalized for use in seven out of eight states there was a voting referendum (Arizona defeated it.) This is a good start, but that is only half the battle. Can Bitcoin help with what comes next?

Since now it is legal in states like California to buy marijuana legally I don t see what use could bitcoin have, unless you don't want to reveal your identity to your seller or you want to hide ti form anyone else.

[shinratensei_]

Now that it is legal, bitcoin has no more role to play than it has in the sale of any other goods.
It might remove the middleman and save transaction costs, but nothing further.

Any proof or I was not updating the latest news about the marijuana in America. But I don't realize if the government or some official institution are speaking about some statement related to the legalization of marijuana in there. and bitcoin has no role for playing in there.

[neochiny]

There are countries where marijuana is illegal and i think BTC can help play a role for buyers of weed in those countries .

Urgh. What the. Just because it's ok in the US, doesn't mean it's acceptable/legal everywhere else.   

If it's illegal in a certain country, then don't buy it. Even with btc. That's just asking to get caught. tsk.
For marijuana, since it's already beginning to be legal in the U.S. (@OP where's the link) , other countries might follow.

I don't think BTC is gonna help with this especially in the beginning since I'm pretty sure there'd be all sorts of identification/medical documents required for buying.

(I admit I haven't heard of these "legalization of marijuana" yet, or seen any news but is this legal for medical use only? or even for recreational?)