I have thought about this quite a lot, I still think 10 CANN/g is the best peg in the current crypto economy. 1 CANN I think will be too ambitious, it won't be able to hit nor sustain parity and all the scam accusations will come flying.
10 CANN/g put the current coin count under $100m market cap, which can be sustainable. The simple fact is the crypto sphere is not large enough yet, let alone the altcoin sphere, let alone the altcoin sphere interested in Cannabis to sustain anything over $100M cap due to miner dumps. Logic would dictate that if it was "valued" at ~$15 per cann people wouldn't sell for much less, miners will. There needs to be enough people buying PER DAY to counteract miners and traders selling for a profit, and there isn't enough money in altcoins to do so. The ambitious nature of 1 CANN/g might bring more customers in obviously, I still don't think it will be enough.
For those wanting a profit from holding, 10 CANN/g is still 100x roughly from here, and about 5000x from the starting price.
Voting for 10 CANN/g, just saying
From your post, it's obvious you are concerned about miners' dump and how do we sustain the price.
Well first of all, I believe that there are about 400k CANN mined per day,
BUT only until Mid September 2014, whereby the
mining reward will be reduced to 52.5 instead of the current 210, so about 100k CANN will be mined then, till 450 Million CANN and this will take approximately 8.5 years!!!... However, if you look at the daily volume recently, you don't see 400k volume per day other than the occasional 1 day volume spike probably caused by some whales that have just entered Cannabiscoin or may be looking to accumulate more of these cheap CANN!
So what does this tell you?
It simply says that
NOT all CANN mined per day will be dumped. Yes, miners have bills to pay (e.g. electricity, hardware, etc), BUT some miners are speculative miners. They are mining CANN as an investment for mid to long term.
Speculative miners will not instant dump whatever they mined, they will HOLD! Yes, there are smarter miners these days unlike in the early days of BTC, besides Satoshi, most would just instant dump.
So why are some miners not instant dumping?Easy answer!
CannabisCoin is way undervalued, and I mean way way way way way x100 undervalued. Why? Imagine the peg being announced as 10 Cann per Gram for being conservative in my example below, although I strongly feel 1 CANN per Gram is still the way to go and
my hunch says dev will announce peg as 1 CANN per Gram.
Anyway, let's go with 10 CANN per Gram:
Assuming 1 gram of Medical Cannabis costs on average US$17 (This number is provided by CANN Dev), then @ 10 CANN per Gram, each CANN is roughly worth US$1.70
@$1.70, it is about 340,000 Satoshi vs current price of about 1,000 Satoshi (Hint: Potential 100x here, can't you see?)
@$1.00, it is about 200,000 Satoshi
@$0.10, it is about 20,000 Satoshi (Still decent 10x, if you managed to buy CANN below 2000 Satoshi)
So as you can see from above, the risk to reward is too good for speculative miners to simply instant dump CANN, not until CANN reaches close to parity which wouldn't happen overnight any way.
Therefore, by pegging @ 1 CANN per Gram, the Reward to HOLD since @ parity, 1 CANN is potentially worth US$17... I say, you won't have to worry about miners dump too much!
Tick-tock Tick-tock... Time is running out for cheap CANN!!! Remember
ON or BEFORE 1st Sept 2014, the pegging announcement will be made.
Don't do last minute shopping please! This isn't X'mas shopping whereby retailers will drop price the day before X'mas!
