[CANNABIT] Investment Details - Announcement & Discussion Thread #cannabit

[cannabit]

Happy New Year!

I hope everyone is off to a good start this year. We are doing well on our end here. Sometimes they say no news is good news but at the same time i understand that i have been away from the board for long periods of time and many of you probably feel anxious about updates and dividends. Starting this post i will make it a effort to start keeping in touch with everyone more frequently. We are looking to expand into other projects starting this year which is why we have been holding back dividends.

There are several rules and regulations that will be put into place this year so we are waiting on decisions to be made by policy makers so we can move forward with our plan for expansion. It has been about a year now since we started this project with all of you and i am happy to say that we are in a position now where we can grow this business organically without any debt. We are debt free at this moment and we want to bring our investors a greater return this year by expanding our project little by little playing it very safe. I will keep you guys updated on that as soon as we see regulations being set in place.

We have put the dividend funds into reserve at this point until we are able to navigate through the next few months. If we do not end up moving forward with expanding then we will go ahead and reimburse the funds in our reserve as a dividend payment back to our investors. I would like to say that this year has been a tough one trying to get everything dialed in. It is still only the beginning in the grand scheme of things. We are continuing to learn and expand our knowledge about all aspects of this business. This year will definitely be better than the last and you will see updates from us more often.

Please feel free to shoot me a PM or i'll catch you guys on this thread as i will be following up more often. Thank you.

[SebastianJu]

Happy New Year!

Happy new year too. Im interested to know if the funds are held in fiat or in bitcoin. If bitcoin i would like to see a signed message for the address holding the coins. And i would vote selling the coins in nowadays times when the bitcoin price is dropping 25% a month or even 10% a day. Only holding bitcoins when paying out divs.

[nwfella]

Nice to see your back Cannabit.  Looking forward to hearing new plans for 2015 and seeing where this asset goes.

[cannabit]

The funds are held in USD and we only convert to BTC when the transfer is going to be occurring that same day. I hope that clears up that question. A decision will be made within Jan/Feb to see how the funds will be used. Either we will use it for expansion or we will pay out dividends. Thanks.

[jeezy]

The funds are held in USD and we only convert to BTC when the transfer is going to be occurring that same day. I hope that clears up that question. A decision will be made within Jan/Feb to see how the funds will be used. Either we will use it for expansion or we will pay out dividends. Thanks.

You could also let your shareholders decide via the Vote feature on Cryptostocks. Of course you would have to let the shareholders know what those plans are to evaluate.

[cannabit]

I will keep that in mind. Right now things are not 100% clear which is why we don't want to hold onto it for too long if we are not going to execute a plan soon. I will keep everyone updated once i receive some clear instructions on my end.

[PoUpA]

To be kind and gentle, (even with the 2 month late in the dividends) is it possible to have a financial update (in $ or BTC) about our investment ?

[bitcoinmuseum]

To be kind and gentle, (even with the 2 month late in the dividends) is it possible to have a financial update (in $ or BTC) about our investment ?

You cant expand in this game with a dividend payment of a few thousand dollars. You need 10s of thousands to make any significant expansion in the marijuana cultivation business. Debt free..haha, I should hope so. Its not a real business guys...its a hobby that makes some money on the side. Anyone can do it, therefore you wont get any real investors being amateur growers at best.

[PoUpA]

To be kind and gentle, (even with the 2 month late in the dividends) is it possible to have a financial update (in $ or BTC) about our investment ?

You cant expand in this game with a dividend payment of a few thousand dollars. You need 10s of thousands to make any significant expansion in the marijuana cultivation business. Debt free..haha, I should hope so. Its not a real business guys...its a hobby that makes some money on the side. Anyone can do it, therefore you wont get any real investors being amateur growers at best.

It would be great to see a little bit of this money on the side especially if they buy BTC now.

[SebastianJu]

To be kind and gentle, (even with the 2 month late in the dividends) is it possible to have a financial update (in $ or BTC) about our investment ?

You cant expand in this game with a dividend payment of a few thousand dollars. You need 10s of thousands to make any significant expansion in the marijuana cultivation business. Debt free..haha, I should hope so. Its not a real business guys...its a hobby that makes some money on the side. Anyone can do it, therefore you wont get any real investors being amateur growers at best.

It would be great to see a little bit of this money on the side especially if they buy BTC now.

I hope they wont. It looks like the market is in some kind of panic. Buying bitcoins now will lead to loss practically sure. Thats why i bought some shares from this venture. Its only losely connected to the bitcoin price.

[cannabit]

You cant expand in this game with a dividend payment of a few thousand dollars. You need 10s of thousands to make any significant expansion in the marijuana cultivation business. Debt free..haha, I should hope so. Its not a real business guys...its a hobby that makes some money on the side. Anyone can do it, therefore you wont get any real investors being amateur growers at best.

From experience not anyone can do what we are doing now. Not trying to get too much into detail here but when you are operating with over 100+ lights i wouldn't say we are at the amateur level. When you are trying to build a real it takes time along with the network of people you work with to build the business. All i can say is that we are heading in the right direction and we are working with the right people to make sure we succeed.

[PoUpA]

I hope you will not forget your investors when you (we) will make profits ;-)

[nwfella]

It seems to me a dividend payment should be forthcoming fairly soon.  Or at least some sort of update?  Obviously we are seeing a pretty nice uptick in BTC price.  Would love to hear what's going on cannabit.

[SebastianJu]

It seems to me a dividend payment should be forthcoming fairly soon.  Or at least some sort of update?  Obviously we are seeing a pretty nice uptick in BTC price.  Would love to hear what's going on cannabit.

The BTC-Price should be unrelated to this investment since its bitcoin price independent. Cannabit doesnt hold coins. BTC are only used for paying out divs. I wonder too when it becomes clear if the new investment opportunity will work or not.

[nwfella]

It seems to me a dividend payment should be forthcoming fairly soon.  Or at least some sort of update?  Obviously we are seeing a pretty nice uptick in BTC price.  Would love to hear what's going on cannabit.

The BTC-Price should be unrelated to this investment since its bitcoin price independent. Cannabit doesnt hold coins. BTC are only used for paying out divs. I wonder too when it becomes clear if the new investment opportunity will work or not.

I get what your trying to say with BTC price being unrelated to this investment, but the truth is, dividends are payed out in BTC so it is in fact pegged at some point.  I'm sure most of us would like to see a dividend payout before BTC breaks the $300 mark again (just jumped $17+ dollars I believe on news of regulated Coinbase exchange Lunar launching < 24 hours).

If fiat is ultimately really your only concern I can see it not mattering much, but for those of us interested in increasing our BTC holdings, it matters alot.  If they make a dividend payout of say $1/share when btc is at $270 as opposed to $500 and your goal is increased BTC it makes a difference.

[SebastianJu]

It seems to me a dividend payment should be forthcoming fairly soon.  Or at least some sort of update?  Obviously we are seeing a pretty nice uptick in BTC price.  Would love to hear what's going on cannabit.

The BTC-Price should be unrelated to this investment since its bitcoin price independent. Cannabit doesnt hold coins. BTC are only used for paying out divs. I wonder too when it becomes clear if the new investment opportunity will work or not.

I get what your trying to say with BTC price being unrelated to this investment, but the truth is, dividends are payed out in BTC so it is in fact pegged at some point.  I'm sure most of us would like to see a dividend payout before BTC breaks the $300 mark again (just jumped $17+ dollars I believe on news of regulated Coinbase exchange Lunar launching < 24 hours).

If fiat is ultimately really your only concern I can see it not mattering much, but for those of us interested in increasing our BTC holdings, it matters alot.  If they make a dividend payout of say $1/share when btc is at $270 as opposed to $500 and your goal is increased BTC it makes a difference.

If you want to increase your BTC holdings you should wait in fact until the price is down again. Then you would get more coins for the same dividend. Canna is exchanging the fiat only before he pays out the div. So when he now pays out the div you might get 1mBTC, if bitcoin exchange price is half of the price it is now, you would get 2mBTC. So in amount of coins you would go better with a lower bitcoin price.

Or do you want to bet on a still rising bitcoin price when he pays out now? I think thats risky. Lets see what the future shows.

[NotLambchop]

...
Or do you want to bet on a still rising bitcoin price when he pays out now?...

>when he pays

[nwfella]

It seems to me a dividend payment should be forthcoming fairly soon.  Or at least some sort of update?  Obviously we are seeing a pretty nice uptick in BTC price.  Would love to hear what's going on cannabit.

The BTC-Price should be unrelated to this investment since its bitcoin price independent. Cannabit doesnt hold coins. BTC are only used for paying out divs. I wonder too when it becomes clear if the new investment opportunity will work or not.

I get what your trying to say with BTC price being unrelated to this investment, but the truth is, dividends are payed out in BTC so it is in fact pegged at some point.  I'm sure most of us would like to see a dividend payout before BTC breaks the $300 mark again (just jumped $17+ dollars I believe on news of regulated Coinbase exchange Lunar launching < 24 hours).

If fiat is ultimately really your only concern I can see it not mattering much, but for those of us interested in increasing our BTC holdings, it matters alot.  If they make a dividend payout of say $1/share when btc is at $270 as opposed to $500 and your goal is increased BTC it makes a difference.

If you want to increase your BTC holdings you should wait in fact until the price is down again. Then you would get more coins for the same dividend. Canna is exchanging the fiat only before he pays out the div. So when he now pays out the div you might get 1mBTC, if bitcoin exchange price is half of the price it is now, you would get 2mBTC. So in amount of coins you would go better with a lower bitcoin price.

Or do you want to bet on a still rising bitcoin price when he pays out now? I think thats risky. Lets see what the future shows.

Definitely see where your coming from.  Guess I'm just stubbornly-bullish atm

As far as seeing what the future holds, thats pretty much all we can do until we get word from the horses mouth as it where (cannabit himself).  Hopefully he will be popping in here soon to let us know what's going on.

[nwfella]

"I have a bad feeling about this."  -Han Solo

[lazlopanaflex]

"I have a bad feeling about this."  -Han Solo

I find cannabit's lack of response...disturbing...