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

[SebastianJu]

Its correct. They have problems that remain some weeks and then they fix it again. But this repeats again and again so that i dont really trust it very much. The site owner wrote me that normally he gets an email when the wallet has problems. But the problems are different this time so that it doesnt trigger emails. I only hope its not the same technical problem that brought weexchange down. Thats why i dont like CS so much anymore.

Other things are the lesser security with 2FA compared to other sites that use 2FA:

* 10 override codes for 2FA, which means bruteforcing a login is 10
times faster and easier. Normally it would be only needed to note down
the authenticator key to ensure being able to login when the smartphone
is lost. No extra keys.
* 2FA only is needed for logging in. After that a hacker could sell
shares and withdraw without problems.
* Disabling 2FA is done with a single click and it doesnt need a
2FA-Code inserted too.

2FA is way less secure on that site. I already wrote that to the site owner and he promised to think about the 10 override codes at least.

[AcoinL.L.C]

Whats the point of 2FA with override codes?

[lynn_402]

Whats the point of 2FA with override codes?

These are quite useful if you lose your phone, and I'm quite sure they can't be exploited if you store them securely (offline).

[SebastianJu]

Whats the point of 2FA with override codes?

These are quite useful if you lose your phone, and I'm quite sure they can't be exploited if you store them securely (offline).

No, they are a security risk only. IF you want to make a precaution for losing your phone then one should note down the 2FA-Code that is shown when you enable 2FA. Its 10 signs or so and allows you to recreate the 2FA-Settings on a new phone. I did this 2 days ago on all sites that use 2FA because i have read that some website owners DONT want to set back 2FA only because they are asked to. Losing phones could be a hacker too that hacked the email account. Thats not what 2FA is for the website owner said.
In order not to risk my coins i dis- and reenabled all 2FA-Accounts. Thats why i found that only CS has such security flaws implemented.

They way they handle it means only that a hacker has 10 times faster bruteforcing an entry into ones account. And since inside there is no 2FA-Protection anymore he could clear an account instantly.

So 2FA already have something to ensure access when you lost your phones. Override codes are a risk only.

[AcoinL.L.C]

Whats the point of 2FA with override codes?

These are quite useful if you lose your phone, and I'm quite sure they can't be exploited if you store them securely (offline).

No, they are a security risk only. IF you want to make a precaution for losing your phone then one should note down the 2FA-Code that is shown when you enable 2FA. Its 10 signs or so and allows you to recreate the 2FA-Settings on a new phone. I did this 2 days ago on all sites that use 2FA because i have read that some website owners DONT want to set back 2FA only because they are asked to. Losing phones could be a hacker too that hacked the email account. Thats not what 2FA is for the website owner said.
In order not to risk my coins i dis- and reenabled all 2FA-Accounts. Thats why i found that only CS has such security flaws implemented.

They way they handle it means only that a hacker has 10 times faster bruteforcing an entry into ones account. And since inside there is no 2FA-Protection anymore he could clear an account instantly.

So 2FA already have something to ensure access when you lost your phones. Override codes are a risk only.

+1

[lynn_402]

Could we please have pictures of the harvest? It's been a while now.
Also, any update on June's dividends?

Thanks.

[nwfella]

Could we please have pictures of the harvest? It's been a while now.
Also, any update on June's dividends?

Thanks.

Also interested in an update.  Getting a bit anxious given how long it's been.

PS: any plans on accepting Potcoin for purchase of your wares?

[SebastianJu]

PS: any plans on accepting Potcoin for purchase of your wares?

I guess that would mean risking the project since cannabit would have to check if its legal in the target country or risk going illegal. And till now they didnt mention they want to go into enduserbusiness. Would mean much more work. Not only selling but checking legal things, packaging costs and and and.

[bougelahi]

Could we please have pictures of the harvest? It's been a while now.
Also, any update on June's dividends?

Thanks.

Also interested in an update.  Getting a bit anxious given how long it's been...

Agreed it would be nice to hear from them. Happy 420 posts nwfella

[lynn_402]

Could we please have pictures of the harvest? It's been a while now.
Also, any update on June's dividends?

Thanks.

Also interested in an update.  Getting a bit anxious given how long it's been.

Yes, especially considering CoinReturn was lately revealted to be a scam.
However, Cannabit probably is not. If they were, there would have been no reason to update on the second week of June long after their last dividends and the end of their IPO.

[nwfella]

Yo Cannabit dude wake up mein.  21 days since you've even logged in?  I take it the last crop is done and straight up fire

Where's the pixel-porn mein?  Div's?

[SebastianJu]

The last thing i heard from someone who spoke with him last week was that he is busy with the current harvest. I think it would have been better to post a short update in the thread instead but maybe next time.

[NotLambchop]

@SebastianJu:  There's another upstanding US pot grower offering shares:  ⋆⋆⋆⋆฿itcoin฿udz⋆⋆⋆⋆ Emerging Market IPO
Not quite as grand a scale, but prob'ly just as trustworthy.
Still keeping in touch with Jon?  Everything good on that front, at least?

[SebastianJu]

@SebastianJu:  There's another upstanding US pot grower offering shares:  ⋆⋆⋆⋆฿itcoin฿udz⋆⋆⋆⋆ Emerging Market IPO
Not quite as grand a scale, but prob'ly just as trustworthy.
Still keeping in touch with Jon?  Everything good on that front, at least?

Im not yet convinced from the other offer. On top i know and trust the other issuer. I guess i wait how it goes, maybe later.
Jon... last contact 6 days ago. But ill try to reach him again.

[lynn_402]

@SebastianJu:  There's another upstanding US pot grower offering shares:  ⋆⋆⋆⋆฿itcoin฿udz⋆⋆⋆⋆ Emerging Market IPO
Not quite as grand a scale, but prob'ly just as trustworthy.
Still keeping in touch with Jon?  Everything good on that front, at least?

Im not yet convinced from the other offer. On top i know and trust the other issuer. I guess i wait how it goes, maybe later.
Jon... last contact 6 days ago. But ill try to reach him again.

I'm under the impression that there has been big problems with the harvest and he's delaying to share the news as much as possible until some better ones come... Or perhaps he has abandoned.

I'm glad there were buy orders for me to panic-sell to.

[NotLambchop]

Lol, Bitcointalk playvestors continue to ponder the eternal enigma: "Sent monyz through intertubes to srsly legit d00d. He vanish. How?  Why?!!"

I saw the best minds of my generation finance revolutionaries destroyed by madness, starving hysterical naked,
dragging themselves through the negro streets at dawn...

[BitcoinBudz]

I am not putting down his operation in the least bit it looks really fancy, but unless he decontaminated everything involved in that first mold grow. He just infected every new plant with the same spores, what comes to mind first is, he did not take apart and clean the can fans, duct work and carbon scrubbers. In good practice the whole room should have been torn down scrubbed with H2O2 to kill off any of the mold. The more serious issue I would hope he did not encounter was mold in the buildings HAVAC system.


A environmental room test should always be done to check temp/humidity/lux/mold and mildew tests before you even bring any clean grow equipment in.
I keep a box of these in my closet just for that reason


The plants look good an healthy in most of the pictures shown though, I wish I could see what the problem area looked like I might be able to help him narrow down what is wrong.

[floatyfish]

Whatever it is he needs to get on here ASAP and clear up some of these rumors.

[cannabit]

Monthly Update - July 2014

I have been very busy managing and making sure that all of our team members and gardens are doing great. We just finished up one of our harvests and there was a lot of work that had to be done from trimming to getting it ready for distribution. I've received a lot of good reviews and positive feedback from the last crop. We've really stepped up our game and it looks like Cannabit is going to have a great year. Take a look at the pictures below.

http://imgur.com/a/Ac3rB

Harvest

Thank you everyone for patiently waiting for the update. I am very excited to update everyone here today. Things are moving along very nicely for Cannabit. One of our first gardens has finished harvesting. The plants were cut about two weeks ago and we just finished drying and curing the flowers. This was our first successful crop with no issues at all. We only had a little bit of a heat issue as it is summer our garden had several hot days but other than that it did not affect us too much. We wanted to have the flower cleared out and moved out to our various access points before the 1st but we were not able to hit that target date. Starting this week we will be moving out product to our distribution channels. Due to this delay we will have to delay our dividends again. I really apologize for this as i know many of you have been waiting patiently.

Garden Timeline

GARDEN A - The recent garden that just harvested has started a new cycle last week with a new batch of plants that is beginning the flowering cycle. This garden will roughly take about 8 weeks for it to harvest again. The plants are looking healthy and things are looking good from here on out for this garden and it's next cycle.

GARDEN C - The last garden that was mentioned in last month's update has also entered into the flowering cycle. The garden mentioned up above and this garden are running on the same schedule so it will be about 8 weeks until this garden will harvest along with the new garden that started it's flowering cycle. All the plants are healthy and everything looks good.

GARDEN B & D - We currently have two gardens that is going to be harvesting in about 1-2 weeks. We are going to start flushing this week and the plants will be cut down soon after and will be dried and cured.

Now that all the gardens are pretty much dialed in we will continue to use the same formula and method to keep things moving along smoothly. Now our main priority will be to get dividends out consistently.

Dividends

I apologize for the multiple delays we have experienced with dividends. We are really trying to lock down a dividend schedule and keep it very consistent but looks like our timeline is not as accurate as we want it to be. With mother nature it is very difficult to time everything perfectly. If you take a look at our garden timeline we try to give everyone a rough timeline of harvest times and we are in the ball park area. After harvest is completed we have to move the product out through our distribution channels which can a few days to a few weeks to clear out that crop. I can assure you that dividends will be paid as soon as possible and since we have harvests coming up every 2 1/2 months it will definitely get more consistent. I will post up another update within the next 2 weeks and hopefully we can get a dividend paid out around that time. Thank you for your patience and understanding.

[nwfella]

Nice to see you back cannabit.  Appreciate the update.  Pictures look pretty damn amazing I must say!  Looking forward to seeing this thing really take off.

Will be trying to pick up a few more shares "on the cheap"