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

[rockstahh]

when i try to open my bat file to see if i'm mining it starts to open but wont open all the way ??

[BlockaFett]

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.

IMHO the market needs to be free to decide the prices, its changing everyday.

[solid12345]

IMHO the market needs to be free to decide the prices, its changing everyday.

Well the market will ALWAYS decide what the price ultimately is but the point is until the dev declares he is selling his strains for a specific amount of CANN it is all just speculation on what the price should be.

[FredDag]

IMHO the market needs to be free to decide the prices, its changing everyday.

Well the market will ALWAYS decide what the price ultimately is but the point is until the dev declares he is selling his strains for a specific amount of CANN it is all just speculation on what the price should be.

Big difference between declaring/announcing a price and pegging a price..

[solid12345]

n declaring/announcing a price and pegging a price..

True but its sort of like Xbox Live points, Microsoft decides what the value of the points are for purchases and the market accepts accordingly. Granted that is a closed system on one gaming network versus a proposed currency for an entire industry but we will never know how the market will react until someone tries it at least. The minimum is we should give support especially being as cheap as it is, if it fails it fails at least it is an attempt to revolutionize crypto.

[BlockaFett]

IMHO the market needs to be free to decide the prices, its changing everyday.

Well the market will ALWAYS decide what the price ultimately is but the point is until the dev declares he is selling his strains for a specific amount of CANN it is all just speculation on what the price should be.

wouldn't the ratio of the strain / CANN just be whatever the rate was between strain / USD and USD / CANN on any given day? - I mean for example if I can buy 2 grams for $10, and I can buy 2 CANN for $10, 2 grams = 2 CANN

[blakeaholics]

I feel like an adjustable price would work better like many have said. Yes, it would be great to always be 1 CANN = 1g but how much of a loss will the team be making for the first few months/years? Altcoins haven't quite taken off in the real world just yet.

I really think the 1:1 ratio can only work once theres much more acceptance. Plus it's more desirable for others to start accepting if they are picking up 100% more coins than they will be later down the line. Those who really care about the coin will be paid off handsomely for their support.
After a bit of time 100 CANN/g would have brought in those initial investors (Yes I know it's the just devs/team for right now) $99 extra per purchase.

[Penn.3D]

Those of you who are talking about an adjustable price are missing the point.....the whole point in pegging 1 cann to 1 gram cannabis is to give the currency a stable value. It's the same concept as URO, the difference being with this coin the skeptics wouldn't have to wait for confirmation of a massive urea shipment to know it's real....if a shop accepts 1 cann in exchange for 1 gram of cannabis, then BAM the value of the coin will skyrocket. I mean, think about it, people would realize that they could go buy cannabis using cann and then resell for a profit if they wanted to, so the price would go up practically overnight.

The only problem with pegging the currency is obviously supply. If you say 1 cann = 1 gram of weed, and the following day you have 10,000 customers at your shop wanting to buy 10 grams each using cann to pay, you very quickly run dry at which point 1 cann does NOT = 1 gram because within a few hours there would be no weed left to give.

So obviously the only way it could work would be to have multiple dispersaries agree to the peg and there would have to be a strict limit on how much each customer could purchase and obviously there would need to be a MASSIVE amount of weed that dispensaries would be willing to sell for cann....I mean MASSIVE. Especially with such a huge number of coins. Maybe the 1st month the limit could be 1 gram per customer, then it could slowly increase. I don't know....I'm just king of thinking out loud at this point.

In any case, that stuff about having an adjustable price is just missing the point altogether IMO.

As far as 1 cann = 1 gram or 10 cann = 1 gram I think it really depends on how much marijuana you have to back the coin. If you can say the value of cann is backed with 100 million grams of marijuana and anyone can cash their coins at anytime, then it's a pretty sure bet that within a few days the coin would reach parity.

[corather]

Those of you who are talking about an adjustable price are missing the point.....the whole point in pegging 1 cann to 1 gram cannabis is to give the currency a stable value. It's the same concept as URO, the difference being with this coin you don't have to wait for confirmation of a massive urea shipment to know it's real....if the shop accepts 1 cann in exchange for 1 gram of cannabis, then BAM the value of the coin will skyrocket. I mean, think about it, people would realize that they could go buy cannabis using cann and then resell for a profit if they wanted to, so the price would go up practically overnight.

The only problem with pegging the currency is obviously supply. If you say 1 cann = 1 gram of weed, and the following day you have 10,000 customers at your shop wanting to buy 10 grams each using cann to pay, you very quickly run dry at which point 1 cann does NOT = 1 gram because within a few hours there would be no weed left to give.

So obviously the only way it could work would be to have multiple dispersaries agree to the peg and there would have to be a strict limit on how much each customer could purchase and obviously there would need to be a MASSIVE amount of weed that dispensaries would be willing to sell for cann....I mean MASSIVE. Especially with such a huge number of coins. Maybe the 1st month the limit could be 1 gram per customer, then it could slowly increase.

I don't know....I'm just king of thinking out loud at this point.

In any case, that stuff about having an adjustable price is just missing the point altogether IMO.

My only argument against that would be, the devs plan to sell merchandise for cann also. How do you say 1 cann = 1 baseball cap, or coffee mug for example? Pegging a token to a particular item doesn't mean it has to be a 1:1 ratio, it just means that it's accepted as payment for that item. In URO's case, the devs chose a more realistic number of coins that more closely relates to their business model. I know ultimately 420,000,000 coins sounds like a nice gimmick, but that's all it really is, and it doesn't reflect the true nature of a business plan.

[Penn.3D]

My only argument against that would be, the devs plan to sell merchandise for cann also. How do you say 1 cann = 1 baseball cap, or coffee mug for example? Pegging a token to a particular item doesn't mean it has to be a 1:1 ratio, it just means that it's accepted as payment for that item. In URO's case, the devs chose a more realistic number of coins that more closely relates to their business model. I know ultimately 420,000,000 coins sounds like a nice gimmick, but that's all it really is, and it doesn't reflect the true nature of a business plan.

Well if the devs decided to go with 10 cann per 1 gram of cannabis, then each cannabiscoin would be worth approximately $1.7 dollars, so a mug might cost 2.54 cann.  If it were 1 cann = 1 gram, then each coin would be worth $17 so a mug would cost .254 cann or something like that.

As long as the devs truly have enough marijuana to back up the price of the coin, then as I said the coin would reach parity VERY quickly. The question is....can the devs back up this coin with such massive amounts of marijuana?

It seems to me that THAT is the real question and the answer to that question will also answer the question of whether 1 cann = 1 gram is really feasible.

[corather]

It seems to me that THAT is the real question and the answer to that question will also answer the question of whether 1 cann = 1 gram is really feasible.

Sometime in the future I can see that.

[AlfaONE]

 1canncoin to equal 1gram.
Netherlands will have a field day with canncoin

My only argument against that would be, the devs plan to sell merchandise for cann also. How do you say 1 cann = 1 baseball cap, or coffee mug for example? Pegging a token to a particular item doesn't mean it has to be a 1:1 ratio, it just means that it's accepted as payment for that item. In URO's case, the devs chose a more realistic number of coins that more closely relates to their business model. I know ultimately 420,000,000 coins sounds like a nice gimmick, but that's all it really is, and it doesn't reflect the true nature of a business plan.

Well if the devs decided to go with 10 cann per 1 gram of cannabis, then each cannabiscoin would be worth approximately $1.7 dollars, so a mug might cost 2.54 cann.  If it were 1 cann = 1 gram, then each coin would be worth $17 so a mug would cost .254 cann or something like that.

As long as the devs truly have enough marijuana to back up the price of the coin, then as I said the coin would reach parity VERY quickly. The question is....can the devs back up this coin with such massive amounts of marijuana?

It seems to me that THAT is the real question and the answer to that question will also answer the question of whether 1 cann = 1 gram is really feasible.

[AlfaONE]

 

This dev must be a relative of bob marley 


[/quote]

[myxamop]

Good article http://www.cannabisfn.com/cannabis-backed-currencies-gain-traction/#.U_GXWvl_vs5

[myxamop]

“[T]o me, marijuana is no different than wine," he said in an interview with High Times. "It's a drug of choice. It's meant to alter your current state -- and that's not a bad thing. It's ridiculous that marijuana is still illegal. We're still fighting for it ... It comes down to individual decision-making. There are millions of people who smoke pot on a social basis and don't become criminals. So stop with that argument -- it doesn't work.”
W.W. 

[AFlatMinor]

If it were 1 cann = 1 gram

My buddy and I would be able to buy about 5 grams a day for the next 60 years   

Anyone got somewhere we could crash in Arizona for a while? (like the next 60 years) 

[AlfaONE]

that is a lot of weed...

If it were 1 cann = 1 gram

My buddy and I would be able to buy about 5 grams a day for the next 60 years   

Anyone got somewhere we could crash in Arizona for a while? (like the next 60 years) 

[AlfaONE]

 

Announcement

This weekend DeltaNine will be meeting with potentials in Northern Arizona around NAU college.  Coconino County, Flagstaff

On the return trip Sunday or Monday there will be a stop in Yavapai County.

During the weekend we will be running preliminary scenarios with "CANNdy" !!!!!!!

Stay tuned for more.

~Dev Team

[groggin]

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

[retro12]

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