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

[ChaseT]

what is the weed used for the comparison 10cann = 1g? every weed has a different price

[Free Radical]

Been following CANN for some time now, great coin, great community. New all time high on Bittrex 1500 sats. Yes we CANN !!!

[fartbags]

I vote for 1g of CANNdy = 0.00000001 CANN

[ocminer]

Thx a lot !, It's always a pleasure and lots of fun with you guys

[passion1983]

price is growing steady

[DubFX]

price is growing steady

It's slowly launching the rocket, soon it will lead to moon and even further!

[MindGrenade]

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!

Assuming the price of 1cann peg, and a price of say $8, which would be roughly half fiat value, even 100k new CANN a day is still $800,000 worth of sell pressure. At this point miners will want to cash in, as if it is close to the pegged value, why continue to hold?

It would need many new dollars coming in for actual utility of the coin, and while at some point with enough adoption $800,000 worth of sales per day may be achieved, I highly doubt these strains will muster 800k a day worth. Bear in mind this is $800k buy volume, not just trading volume. Even big companies don't muster that much in BTC sales per day.

Or 100kg a day in terms of actual utility vs 10kg...

At 10cann, its more likely $80,000-$100,000. With good merchant adoption across several stores these are more achievable figures. I understand where you are coming from, but I do think that putting it at 1cann is unsustainable in the current market. The best peg value is determinant of the sales volume of the merchants that are on board

[solid12345]

If Litecoin can pump over a billion dollar market cap backed on nothing but hype, anything in crypto is possible and I guarantee you any alleged claims of "vast" "merchant acceptance" of LTC was vastly overstated.

[corather]

Remember people. Cann is accepted for everything in the stores, not just the herb. That can easily triple sales on any given point of sale transaction.

[Virtuoso]

The pegging should be something between 1:10 and 1:100...
A 1:1 pegging is ridiculous... that´s greediness and daydreaming....

[Penn.3D]

Remember people. Cann is accepted for everything in the stores, not just the herb. That can easily triple sales on any given point of sale transaction.

That sounds great in theory, but if they offer to sell everything in their store for cann, then someone could walk in and theoretically wipe out their entire inventory, at which point they would be left with a few thousand more canncoins on their pile and nothing to sell.

Not trying to be pessimistic, but at the same time I want to be realistic.

We ALL want 1 cann = 1 gram obviously, but not if it isn't going to work.

At this point I am just trusting that the dev is working through all of this and is in the process of figuring out exactly how this peg is going to work. I have read nearly all of his posts and I have a lot of faith in him and his team.

I know they will make the right choice as far as what peg to choose.

[HongKong]

Damn, so is this another scam/clone coin not even created by the dev? Is that why it's taking them long to create any technical updates? Not answering peoples technical posts?

Cannabiscoin was made by "loljosh" who is known to create altcoins for people if they pay a fee.

here's his thread: https://bitcointalk.org/index.php?topic=466908.0


https://bitcointa.lk/threads/cannabiscoin-cann-x11-official-ann-developments-discussions.332215/

Thread where the information was removed then replaced with "This Thread has Moved"



Now there is no mention of loljosh in your dev team, why?



^Where's his credit?


I liked cannabiscoin

[WarrEagle]

^^ All coins are clones. And who the hell cares if credit is there or not. Maybe he was replaced with another developer. Troll much?

[solid12345]

Am I the only one who doesn't understand the hate for loljosh? As far as I know he gets paid for a service and offers it, where is the scam in that?

Funny, no one bitches when coin developers go crawling to hire Mindfox to deliver a coin that arrives months behind schedule.

[cryptoangel]

^^ All coins are clones. And who the hell cares if credit is there or not. Maybe he was replaced with another developer. Troll much?

True.

This coin is defiantly not a scam, I remember mining at difficulty 2 on x11.

This coins success is based on hard work and no bullshit.

[FredDag]

Damn, so is this another scam/clone coin not even created by the dev? Is that why it's taking them long to create any technical updates? Not answering peoples technical posts?

Cannabiscoin was made by "loljosh" who is known to create altcoins for people if they pay a fee.

lol...

just because something is cloned doesn't mean it is a scam...
if that were true practically all medical marijuana in the world would be a scam... as the plants are cloned.

Personally I think your deduction is a bit off.
But that is just my opinion.

[true-asset]

In my opinion, any developer who decides to "write from scratch" a standard X11 PoW coin is clearly not thinking about how to achieve the result in the most efficient way. I think it is actually wise to stay with a stable code base from someone like loljosh who has successfully deployed ~30 of these. Experience counts.

Devs can then spend their time on actually making new software features either on top of the code base or beside it. What is the point of reinventing the wheel and pretty much just redoing the same type of coding over and over when it has been done a hundred times and can be automated by a service such as what loljosh provides.

The entire doctrine of software development education and evolution has been about code reuse and reducing duplication: http://en.wikipedia.org/wiki/Don't_repeat_yourself

[fartbags]

CANN doesn't have any technical skills at all. This doesn't seem to matter though. They are showing that social value is just as important as all the technical stuff that PotCoin has developed. I personally would love to see a merger with PotCoin and CANN. All the technical stuff will be open source soon and no coin will have an advantage on that front. I think the social aspects of a coin will be an important thing in the future. I see many new marijuana coins coming out copying CANN really soon. Probably one for every locale. I would press CANN to start taking over areas. It is only a matter of time before all the marijuana hot spots begin to have their own coins.

[CannabisCoinDev]

Quick Note

Clarity for some who didn't know (still),  almost every coin out there is not built by any ONE original developer.  It's all open source and built on a collaboration of multiple devs helping and contributing either free or paid.

Litecoin, Potcoin, Hempcoin, dope, BOOM, URO, etc, etc are NOT built from 100% scratch. Surprised?

Ask yourself this, what have you been investing in these past couple of years?  Coins with just a good name, hype, technology?  A funny meme like Doge? Kanye? Ron Paul, etc.

That's all fine if you are just a trader and want to see your profits go up from hype etc. To some, trading is a way of making a living, so it's understandable.  

A lot of Devs out there, release their coins for the sole purpose of just trading and dumping on you for gains.  Surprised?  You shouldn't be.  look at the pattern.


Wake up people.

CannabisCoin is NOT a trendy, funny, meme based, pump and dump, get rich quick scheme, coin.  

It is a serious coin with a serious team.

A coin without a good team, a good community, and a good plan = nothing.

CannabisCoin =

- real patients, real plans, and real commitment to the community.
- real advocates, real industry medical marijuana experts, real world plans.
- real collaboration with supporters and community  
- real medical marijuana developement

CannabisCoin is the medical marijuana coin of the community and is spearheaded by actual medical marijuana experts doing it for the good of the patients.

Surprised?  You should be.  It's rare.

~Dev Team
YesWeCANN!

[fartbags]

Quick Note

Clarity for some who didn't know (still),  almost every coin out there is not built by any ONE original developer.  It's all open source and built on a collaboration of multiple devs helping and contributing either free or paid.

Litecoin, Potcoin, Hempcoin, dope, BOOM, URO, etc, etc are NOT built from 100% scratch. Surprised?

Ask yourself this, what have you been investing in these past couple of years?  Coins with just a good name, hype, technology?  A funny meme like Doge? Kanye? Ron Paul, etc.

That's all fine if you are just a trader and want to see your profits go up from hype etc. To some, trading is a way of making a living, so it's understandable.  

A lot of Devs out there, release their coins for the sole purpose of just trading and dumping on you for gains.  Surprised?  You shouldn't be.  look at the pattern.


Wake up people.

CannabisCoin is NOT a trendy, funny, meme based, pump and dump, get rich quick scheme, coin.  

It is a serious coin with a serious team.

A coin without a good team, a good community, and a good plan = nothing.

CannabisCoin =

- real patients, real plans, and real commitment to the community.
- real advocates, real industry medical marijuana experts, real world plans.
- real collaboration with supporters and community  
- real medical marijuana developement

CannabisCoin is the medical marijuana coin of the community and is spearheaded by actual medical marijuana experts doing it for the good of the patients.

Surprised?  You should be.  It's rare.

~Dev Team
YesWeCANN!

Exactly! This is why CANN should be putting tons of energy towards getting into California. Sooner than later a person is going to copy the CANN idea and make a coin that gets popular among growers/dispensaries in Cali.

There is very little barrier to entry.

I am thinking from a coin owner money making point of view. We want this coin to go to a billion $ market cap. It benefits us for this coin to be used all over. We do not want other coins coming along and in the end having 10 different marijuana coins that all together = 1 billion $ market cap.

From what I can tell:
POT = Colorodo & Montreal
CANN = Arizona
CCN = Washington St.
DOPE = Somewhere in Europe.
THC/HEMP = I think they are going more for hemp so they aren't really competition in this niche market.