[ANN] CannabisCoin [CANN][X11][Official] Unmoderated General Discussions.

[Equate]

Nice looking coin and nice looking price, I will wait for next update and you might have a new investor.

Why wait for next updates? The price will probably rise again, so you better buy in now

If you want to invest ,better buy now while coins are cheap .

[baxto]

I would choose 10 cann per gram of cannabis. Why? because of the large amount of coin supply i  believe realistically setting the bar for 1 cann to be about 1 dollar would make sense. Since street prices although they vary from strain to strain and place to place you usually see anywhere from $10-$20 per gram. So 10 cann per gram would set the price of the gram on the lower end of street prices while also providing other benefits of using the coin versus fiat.

[Quantumbud]

With the total coin supply there would need to be 420 tons of ganja harvested on a 1-1 ratio,a 10-1 ration seems more realistic imo even if that means a total of 42 tons which is still a hell of a lot of ganja.

[CannabisCoinDev]

Community Poll


As everyone knows we are discussing the 'pegging' of CANN to GRAMS of "CANNdy" Strain.

It has been brought up within the team that we should also allow the community to give input on the price.

So for that we would like to ask,

1) If you had a choice How much CANN per gram of Cannabis, what ratio would you choose?

2) Why did you choose that ratio.



As discussed before, participating dispensaries will have their own limits on daily purchases on grams per day.
Within the team the ratios that were discussed were:

10 CANN = 1 Gram for cannabis slated for the coin.

or

1 CANN = 1 Gram for cannabis slated for the coin.

AVG price for decent gram is $17 or higher usd per gram.

fyi:  CannabisCoin will NOT be limited to ONLY jars set aside for "CANN" purchases.  You WILL be able to buy 'House" strain cannabis, Merchandise, Gifts, Pipes, etc depending on the dispensary/merchant.

Patients will also have the choice to buy CannabisCoins directly from merchants to purchase "CANNdy" only meds.  Thus simplifying the purchases.  More community input!  Great responses so far!

[Quantumbud]

Reguardless of whichever pegging ratio is decided upon,what is the timeframe in which it will be implemented?

I think realistically speaking the CANN team is the only entity which can work out and decide upon the ideal pegging ratio since they alone know their setup (how much is grown and how it is grown),the strain specific details (veg/flowering cycle) and the yield in relation to expected purchases/consumption and even the uptake from other producers.

[mrbigmugs]

A pricing model of 10 CANN / gram would mean there would be a total available supply of 42 million grams over the life of the coin.

42 Million grams = 92,594 pounds or 46.297 tons

If indoor and outdoor can produce 1000 pounds per year this coin will last 92.594 years of output.

[Mxrider420z]

Community Poll


As everyone knows we are discussing the 'pegging' of CANN to GRAMS of "CANNdy" Strain.

It has been brought up within the team that we should also allow the community to give input on the price.

So for that we would like to ask,

1) If you had a choice How much CANN per gram of Cannabis, what ratio would you choose?

2) Why did you choose that ratio.



As discussed before, participating dispensaries will have their own limits on daily purchases on grams per day.
Within the team the ratios that were discussed were:

10 CANN = 1 Gram for cannabis slated for the coin.

or

1 CANN = 1 Gram for cannabis slated for the coin.

AVG price for decent gram is $17 or higher usd per gram.

fyi:  CannabisCoin will NOT be limited to ONLY jars set aside for "CANN" purchases.  You WILL be able to buy 'House" strain cannabis, Merchandise, Gifts, Pipes, etc depending on the dispensary/merchant.

Patients will also have the choice to buy CannabisCoins directly from merchants to purchase "CANNdy" only meds.  Thus simplifying the purchases.  More community input!  Great responses so far!

1 & 2: i would also choose the 10:1 ratio as it fits better the amount of coins and adjusting it along the way

You gotta make in a way CANNdy strains are somewhat in the range of the average market price but with a good edge on top of them whilst also being profitable for the Cannabiscoin foundation to grow it and sell it.

Keep up with the good job, peace and have a good one.

[Hippie Tech]

A pricing model of 10 CANN / gram would mean there would be a total available supply of 42 million grams over the life of the coin.

42 Million grams = 92,594 pounds or 46.297 tons

If indoor and outdoor can produce 1000 pounds per year this coin will last 92.594 years of output.

Use less water and increase yields with structured/ revitalized water.

http://youtu.be/VuOmYDEphcQ?t=4m48s

Structured Water - Magnets - Cera Metrix Filter (Part 1 of 2)

http://youtu.be/FdbBQ1MkOug

[mrbigmugs]

Another food for thought if priced at 10 Cann / g  ..... this would basically work out to :


70 CANN = Quarter

140 CANN = Half

280 CANN = Ounce


Am I right ?


If priced at 100 CANN / g then ..

700 CANN = Quarter

1400 CANN = Half

2800 CANN = Ounce

?

[coinpirate]

My thoughts are this.....once you say 10 or 100 coins per gram, you can never change it to 1 coin per gram. If you have enough disperseries agree to sell for 1 gram = 1 coin, and set a strict limit of 1 or 2 grams per customer at first (I suppose that could be increased as time goes on), then 1 coin could be 1 gram and it would not wipe out inventories, although there would probably be lines at the participating dispenseries which of course would be amazing PR.

Just my thoughts.

[solid12345]

I personally vote 1 CANN = 1 gram since it is the easiest to remember. If people are concerned about number of coins perhaps mining rewards could be cut or the number of coins that will be mined in its lifetime changed? Just a thought.

[DubFX]

I'd personally go for 100 CANN/g as when you weigt cannabis you mostly weight it on 2 decimal places like 1.48g or so.
But since we should decide between 1/10 i go for 10.

[Kennar]

For 1 CANN = 1 Gram to even be feasible, the coin would basically have to be a PoS. There's no way that 1 CANN per gram is going to make it. That's valuing it over light/darkcoin as well. Is it worth it? Sure, in my opinion.

I personally think at least 100 CANN per gram is where it should be set.

This is how I'm thinking....

I have a $1,500 mining rig setup that costs $1.00/day to run x11 -/+. With current difficulties, I'm getting 100-150 CANN/day if I'm lucky. That would equal a little over a gram a day, essentially a profit of $16 -/+ according to Delta Nine's rating of $17/gram. That's a very steep profit when it comes to altcoins, or any digital currencies. If you were to price it at 1 coin = 1 gram, I would be getting 100-150 grams a day? That's a lot of cannabis and I highly doubt we'd get the market up that high, especially from the start AND have dispensaries agree to that ratio.

[©ryptomine®]

I initially thought 1CANN to 1GRAM might be thinking a little too big but then I recalled something I read about CANN standing on its own independent of Bitcoin. That may be a bit off into the future but I think that possibility is very real.

I would also agree with solid12345 and coinpirate. 1CANN to 1GRAM will be easiest for the actual consumers to remember and once you set it you're kinda stuck with it. If it was only used to buy CANNdy, then as the manufacturer you could easily manipulate the rate at will by adjusting the cost of the product being sold to merchants. The moment other goods are able to be purchased with CANN, the ability to change the rate becomes nearly impossible, especially as widespread use grows.

In terms of mining and profitability, I just don't see that as too much of an issue really. The mining difficulty will adjust according to the value of the coin, as we all have seen recently, and if you were getting 100CANN/day before you might only get 1CANN/day after.

In the end, I think you have to do what's best for the consumers. Both the markets and mining difficulty will adjust accordingly based on what you decide.

That's just my 0.02CANN 

[CrymsonCoin16]

1 gram per CANN seems to be the easiest to remember and allows for the long term growth of the coin as well.

Ultimately, this decision should be made by the CANN dev for considerations of supply, adoption, and usage. He can also limit the amount of grams to be sold at whatever peg.

[corather]

I'm going to say 1000 cann per gram. Considering coin supply and ease of mining/trading at the moment. It's much easier for you guys as a business model to say hey, the price of gram per cann is higher these days so we're cutting the price today by 10/15% etc. rather than having to raise it. It makes you look like the hero and it allows to coin to settle at a natural level. It's a deflationary model. With the price of everything rising these days, it'll make your products look that much more attractive.

[samspaces]

I'd say 10 coins per gram is realistic. You can set prices better and won't have to present 0.5 coin for half a gram, for example.

[ared]

I initially thought 1CANN to 1GRAM might be thinking a little too big but then I recalled something I read about CANN standing on its own independent of Bitcoin. That may be a bit off into the future but I think that possibility is very real.

I would also agree with solid12345 and coinpirate. 1CANN to 1GRAM will be easiest for the actual consumers to remember and once you set it you're kinda stuck with it. If it was only used to buy CANNdy, then as the manufacturer you could easily manipulate the rate at will by adjusting the cost of the product being sold to merchants. The moment other goods are able to be purchased with CANN, the ability to change the rate becomes nearly impossible, especially as widespread use grows.

In terms of mining and profitability, I just don't see that as too much of an issue really. The mining difficulty will adjust according to the value of the coin, as we all have seen recently, and if you were getting 100CANN/day before you might only get 1CANN/day after.

In the end, I think you have to do what's best for the consumers. Both the markets and mining difficulty will adjust accordingly based on what you decide.

That's just my 0.02CANN  

This post basically sums up clearly my thoughts on why a 1:1 peg (1 gram Cannabis per Cann) is the best outcome. But just to add some other thoughts below:

Few tweets from the dev:

"#CannabisCoin will evolve to be independent of #Bitcoin and the fluctuations that come with it. #investing #CANN"

"#CannabisCoin is considered long term as we set the "Cannabis Standard" system. #CANN $CANN #marijuana #bitcoin Operation #nomoreSHITcoins"

From the 2 tweets above, the vision of the dev is very clear, CannabisCoin is made right from the start, to become the Gold Standard of all Alt-coins and quite possibly with the mission of overtaking Litecoin's market cap in a very short period of time... depending on what the final peg will be.

No more faith-backed coins, only asset-backed coins like CannabisCoin that will eventually evolve to become a stable currency without wild fluctuations seen in most coins out there.

Imagine the media going crazy over CannabisCoin once it hits above the $10 million market cap overnight and eventually, overtake Litecoin to become #2... and this can only happen if the peg is 1:1 (1 gram Cannabis per Cann).
This is FREE marketing for CannabisCoin which I believe is worth a considerable amount.

"The mining difficulty will adjust according to the value of the coin, as we all have seen recently, and if you were getting 100CANN/day before you might only get 1CANN/day after." <--- I totally agree! Most will remember that Bitcoin miners used to mine plenty per day, but now not any more... so this is really a non-issue going forward.

What everyone has to realize is that the Cannabis Industry is indeed a Multi-Billion Dollar Industry today which is growing rapidly every single year... and this is our golden opportunity to invest in the fastest-growth industry.
Record sales set in July 2014: http://www.ibtimes.com/legal-pot-colorado-marijuana-sales-set-new-record-june-1655238

So for CannabisCoin to have a billion dollar market cap 1 day, isn't really a far-fetched possibility. And please DO NOT assume just because the peg is 1:1, it isn't sustainable... There are obviously ways for them to control the demand, such as limiting the amount of CannabisCoin exchanged for Cannabis daily (the limit can be raised accordingly, based on the production supply increasing year-over-year) but since this is for long-term and the peg can't be changed once set, it's better to set the Gold Standard right from the start and adopt a 1 gram Cannabis per Cann.

With that said, take a look at this graph and make your own judgement on where CannabisCoin is heading:
https://twitter.com/cryptoaltinvest/status/500257921834295300/photo/1

[xCryptoManiaX]

+100 to Ared's comment

[FredDag]

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..