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Author Topic: Funny articles about legal Marijuana business cash problem  (Read 203 times)
leopard2
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May 03, 2017, 10:51:31 PM
 #1

Just stumbled over this one

http://dailycaller.com/2016/12/13/the-biggest-problem-facing-marijuana-dispensaries-is-banking/

Hilarious. Hmmm, I heard about this fancy new thing, Bitmoney or whatsitcalled, works over the interwebs they say, maybe you guys know more about this? Perhaps that would help  Cheesy

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Yakamoto
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May 03, 2017, 11:05:20 PM
 #2

Just stumbled over this one

http://dailycaller.com/2016/12/13/the-biggest-problem-facing-marijuana-dispensaries-is-banking/

Hilarious. Hmmm, I heard about this fancy new thing, Bitmoney or whatsitcalled, works over the interwebs they say, maybe you guys know more about this? Perhaps that would help  Cheesy
I'm still surprised that weed shops are having a hard time finding places to operate as banks for them. I would have expected for them to be a lot more support from at least a few people somewhere.

They might be able to operate using Bitcoin, but during market trends like the ones we're experiencing it might be hard for them to find confidence in maintaining any sort of serious stockpile of Bitcoin without selling off fairly quickly and ending up with a bunch of fiat held in an exchange.

Either way, they should look into it. It solves a lot of their financial security issues pretty quickly.


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countryfree
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May 03, 2017, 11:28:24 PM
 #3

It's not new. Companies dealing with drugs which are legal in one state can only use banks which only operate in that state, not banks operating in all US states.

Read more from me and follow me on Steemit: https://steemit.com/@countryfree
Hydrogen
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May 03, 2017, 11:35:17 PM
 #4

Banks are prejudiced against medical marijuana dispensaries and workers in the adult entertainment industry.

DEA (Drug enforcement agency) which is under federal control routinely robs medical marijuana dispensaries also, confiscating all the cash they have on hand, which never makes it into the evidence bin and instead ends up in the pockets of the DEA.

There is a strange conflict between state level gov which legalize medical marijuana, and the federal government which operates the DEA and uses it as a tool to rob and harass medical marijuana retailers

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