I think a floating exchange rate, rather than pegged, is the way to go For CANN / CANNdy g
What happens if/when growers in Canada, Europe and other places adopt CANN in a similar way?
Demand and prices in BTC could skyrocket.
I would look at.....
- initial (floating) exchange rate of 10 CANN = 1 gram CANNdy
Later, when CANN becomes more widely adopted, and demand increases significantly, the CANN/g could be reduced.
EG., 5 CANN/g, 2 CANN/g and eventually 1 CANN/g
This would have 2 advantages over pegged rate...
1... Cost in real terms could be stabilized
2....Early adopters/holders would see the increased demand reflected in increased value of CANN they already hold.
Edited to add....
The more I think about it... I think pegging the price is a bad idea.
Sure... In a closed system where CANNdy is the only product range available....
But not in a global market where CANNdy may be only one if many products, from many suppliers are the world, available.
I am happy to bet that a permanent pegged rate would be changed within one year when CannabisCoin begins to see adoption by 3rd party suppliers..
This! +1.
crypto is crypto, it has legs of it's own,
why tie it to any afk thing, whether it's gold, oil, urea, ganj? trust in the power of the people and let a gram of your best rise to it's own level
I thought the whole point was for it to be directly tied to CANNdy
All in all i am sure the devs will make the right decision
I have been mining and reading forums since the first day of the coin turning to x11 and this is my first post so would like to say GREAT WORK DEVS
keep up the awesomeness
Some people are just not understanding the purpose of peg in the first place.
This is what a peg will achieve:
1.
Stability - No more wild fluctuations associated with many crypto currencies out there.
2.
Value - Your CannabisCoin
WILL definitely be worth more than it is now once the peg is announced. The less CannabisCoin required per gram, the more valuable your CannabisCoin, hence why
1 CannabisCoin per Gram is the best outcome!
3.
Incentive - Assuming if you pay in cash per gram is US$17, the truth is, CannabisCoin will unlikely reach parity... So most likely a CannabisCoin will float at around US$10 to US$12 stable, the price discount will be significant enough to encourage even Non-Crypto users to learn and find out how to purchase CannabisCoin as a result.
4.
Hoarding - Since there will be stability as a result of a peg, and because there is real exchange for goods (e.g. Cannabis, etc) of material value to a user especially if you are in need of Cannabis for medical reasons, many will choose to hoard and hold their CannabisCoin since the value supposedly won't drop by half overnight, as the exchange of 1 CannabisCoin per Gram still holds true, despite fluctuations in Bitcoin prices.
Whereas, when comparing to other "faith-backed" coins out there, more often than not, unfortunately faith do die out over time... And as a result, the faith-backed coins you are holding will be devalued to zero.
So this is where Cann Devs want to make a difference, NO MORE SHITCOINS!
Only asset-backed coins like CannabisCoin will be for the long-term!
"What happens if/when growers in Canada, Europe and other places adopt CANN in a similar way?" Since gram will always be a gram and of course different strains = different quality, then price will always be different. We can't have a 1 size fit all pegging. Now, let's assume the peg is for a certain strain which costs US$20 and since the peg is for 1 CannabisCoin per Gram, then the CannabisCoin has inherited a value of US$20 overnight.
So let's say someone in Europe has a lower quality and cheaper strain which costs US$10 and wants to adopt CannabisCoin, then he can easily price it at 0.5 Cann per Gram for that lower quality strain. Simple right?
Now let's say someone in Canada has a higher quality and more expensive strain which costs US$30 and wants to adopt CannabisCoin too, then he can easily price it at 1.5 Cann per Gram for that higher quality strain. Problem solved!
"Later, when CANN becomes more widely adopted, and demand increases significantly, the CANN/g could be reduced.
EG., 5 CANN/g, 2 CANN/g and eventually 1 CANN/g"You see, it's easier to set something right, RIGHT from the start. I mean, isn't it easier we start with 1 CannabisCoin per Gram and limit the demand by usage purpose:
Recreational users will be limit to 1 gram daily.
Medical users will be limit to 3 grams daily.
The limit can be raised accordingly when the supply is able to meet the demand. It's so much easier to control the demand this way, rather than reduce the Cann used per gram to 1 eventually.
"The more I think about it... I think pegging the price is a bad idea.
Sure... In a closed system where CANNdy is the only product range available....
But not in a global market where CANNdy may be only one if many products, from many suppliers are the world, available."Try to think of CannabisCoin like a Global Currency used mainly for exchanging of Cannabis Worldwide, provided merchants Worldwide hop on board. You can go to Europe and still use your CannabisCoin to exchange for Cannabis at an agreed rate of 1 CannabisCoin per Gram, the same rate you would get in the USA. You don't have to exchange your US$ to Euro to make your purchase.
I like to think that since the Cann Devs have the vision to embrace crypto right from the start for a new and quite possibly the fastest-growth industry, I am sure they have more uses and exciting plans for CannabisCoin ahead.
And for that reason,
I'm ALL IN !!!
