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

[ared]

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.

 

Not to worry, once pegging has been announced which is any time soon... I'm sure they will enter California market asap...
CANN dev has a habit of making the right moves slow and steady if need be, and not just rushing about doing stuff for the sake of it.

Meanwhile, we can do our part by bringing attention to growers and dispensaries in California and everywhere else by asking them if they accept CANN and if not, when?

Remember CannabisCoin will soar like an eagle with good community support!

So everyone, start your engine NOW!!!

And by the way, 1 very important thing to note, those other Cannabis related coins you mentioned like POT, DOPE and etc... They are NOT BACKED! Unlike CANN which will be asset-backed by Cannabis, hence the announcement of the peg soon!

[fartbags]

I think you are wrong with your slow and steady growing ways. Any coin could easily copy the pegging system. It's nothing special. It's all about growing as fast as possible and marketing.

I have all the cannabis coins so I would be in favor of all of them working together. None of them are large yet. Anyone can copy them and catch up in a matter of days. I would want them all to work together. Have them actually create a barrier to entry by having 10,000 users united and 50 developers all working on different projects. Make it as hard as possible for a new coin to come into this niche market. You want people to all work together instead of everyone being on different teams thinking they are battling the other coins.

Either way is fine with me though. It's fun to be a part of all the crypto + cannabis stuff.

[ocminer]

As soon as a coin rises in value and gets mentioned at Twitter a lot, the Fudsters come out.. Its so funny.. There must be a secret "Fudster Crew" somewhere which are just waiting for coins that "grow"

[fartbags]

No one is FUDing CANN. I am letting them know that they should be focused on getting into Cali. Cryptocoins have no barrier to entry. They should get growers/dispensaries in Cali to buy CANN and be apart of CANN instead of creating their own coin.

It's not only on the devs though. The community has to get this going. The devs are only a few people. We need everyone going to dispensaries and selling them on CANN. Cali is the biggest market. It's probably a 50x bigger market than Colorado, Washington St. and Arizona combined.

Don't be losers. Go out and get people to buy CANN. Once they own it their impression of it changes.

[ared]

No one is FUDing CANN. I am letting them know that they should be focused on getting into Cali. Cryptocoins have no barrier to entry. They should get growers/dispensaries in Cali to buy CANN and be apart of CANN instead of creating their own coin.

It's not only on the devs though. The community has to get this going. The devs are only a few people. We need everyone going to dispensaries and selling them on CANN. Cali is the biggest market. It's probably a 50x bigger market than Colorado, Washington St. and Arizona combined.

Don't be losers. Go out and get people to buy CANN. Once they own it their impression of it changes.

I think you are missing the point here, do you understand the difference between "Acceptance" and "Pegging"?

Acceptance:
Growers/Dispensaries can accept ANY form of cryptocurrency they deem fit, it can be DOGE, BTC, XPM, PPC, etc...
But those cryptocurrencies are subject to wild fluctuations, not to the liking of most merchants cause of no stability.

Pegging:
By pegging a cryptocurrency like CannabisCoin to Cannabis on a FIXED ratio, this erases ALL fluctuations normally involved in most cryptocurrencies.
Hence, stability. So if the peg is announced as 1 CANN per Gram. Then what this means is that, no matter what... be it yesterday, today or tomorrow, it will always be 1 CANN per Gram... even if Bitcoin value may drop in half, it doesn't change the fact that it is still 1 CANN per Gram.

Now if you were to use Potcoin, a coin branded for Cannabis industry... For example, yesterday you may need 1000 Potcoin for 1 Gram of Cannabis. Today maybe 2000 Potcoin because Bitcoin value drops in half. Tomorrow maybe 3000 Potcoin because along with Bitcoin, Potcoin value also drops by half. So as you can see, when there is no pegging, this is the kind of wild fluctuations you will experience. But with CannabisCoin, once the ratio is FIXED, it won't happen like Potcoin. It will be stable. Won't happen overnight, but as more and more people discover what a DEAL they are getting by buying CANN and exchanging it for Cannabis, rather than using fiat to pay for Cannabis... You will see CANN price rise very quickly to parity of 1 Gram of Cannabis which is on average US$17, assuming 1 CANN per Gram.

Conclusion:
To say that every grower/dispensary can create their own cryptocurrency is TRUE.
However, to say that every grower/dispensary can PEG and back their own currency is UNTRUE.

[xCryptoManiaX]

No one is FUDing CANN. I am letting them know that they should be focused on getting into Cali. Cryptocoins have no barrier to entry. They should get growers/dispensaries in Cali to buy CANN and be apart of CANN instead of creating their own coin.

It's not only on the devs though. The community has to get this going. The devs are only a few people. We need everyone going to dispensaries and selling them on CANN. Cali is the biggest market. It's probably a 50x bigger market than Colorado, Washington St. and Arizona combined.

Don't be losers. Go out and get people to buy CANN. Once they own it their impression of it changes.

I think you are missing the point here, do you understand the difference between "Acceptance" and "Pegging"?

Acceptance:
Growers/Dispensaries can accept ANY form of cryptocurrency they deem fit, it can be DOGE, BTC, XPM, PPC, etc...
But those cryptocurrencies are subject to wild fluctuations, not to the liking of most merchants cause of no stability.

Pegging:
By pegging a cryptocurrency like CannabisCoin to Cannabis on a FIXED ratio, this erases ALL fluctuations normally involved in most cryptocurrencies.
Hence, stability. So if the peg is announced as 1 CANN per Gram. Then what this means is that, no matter what... be it yesterday, today or tomorrow, it will always be 1 CANN per Gram... even if Bitcoin value may drop in half, it doesn't change the fact that it is still 1 CANN per Gram.

Now if you were to use Potcoin, a coin branded for Cannabis industry... For example, yesterday you may need 1000 Potcoin for 1 Gram of Cannabis. Today maybe 2000 Potcoin because Bitcoin value drops in half. Tomorrow maybe 3000 Potcoin because along with Bitcoin, Potcoin value also drops by half. So as you can see, when there is no pegging, this is the kind of wild fluctuations you will experience. But with CannabisCoin, once the ratio is FIXED, it won't happen like Potcoin. It will be stable. Won't happen overnight, but as more and more people discover what a DEAL they are getting by buying CANN and exchanging it for Cannabis, rather than using fiat to pay for Cannabis... You will see CANN price rise very quickly to parity of 1 Gram of Cannabis which is on average US$17, assuming 1 CANN per Gram.

Conclusion:
To say that every grower/dispensary can create their own cryptocurrency is TRUE.
However, to say that every grower/dispensary can PEG and back their own currency is UNTRUE.

Good points.
Pegging and it being backed by a dev who is also a MMJ grower, distributor, and enthusiast  who has ties to the industry is precisely why CANN will be very successful and better than the other MJ related coins

[SkyValeey]

price is growing steady

Yes, that's why I bought some last 2d. I'm new here so hi all! Cann to da moon heh 

[cindereynolds]

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

Wow...learn to factor in the mining difficulty if it gets to that level of 1 cann=1 gram....you can hardly mine any at the price it is. You're also assuming that all miners do is dump their coins the second they mine them. That's not how it works...at all.

[zoata87]

good vibes at bittrex

[ChaseT]

2k is fucking near

[mrbigmugs]

About to pass Potcoin in terms of market cap ! www.coinmarketcap.com

[BlockaFett]

About to pass Potcoin in terms of market cap ! www.coinmarketcap.com

Hold on to your seats

[CannabisCoinDev]

HTML5 WALLET STATUS

HTML5 web wallet with QR capabilities being worked on right now for CannabisCoin.

If all goes well, we will have a pure HTML based wallet capable of scanning QR codes and bypassing IOS blocks.


~DeltaNine

[4K-kun]

HTML5 WALLET STATUS

HTML5 web wallet with QR capabilities being worked on right now for CannabisCoin.

If all goes well, we will have a pure HTML based wallet capable of scanning QR codes and bypassing IOS blocks.


~DeltaNine

Nice work!
Keep us up to date.

[carafleur]

Hi Devs,
there seems to be a problem with the blockchain since the last hour :

Code:

Blockheight	Age	Transactions	Value Out	Difficulty	Extracted by
166531	24 minutes 	3	1,250.97723638 CANN	505.8	Unknown

from cryptoid blockchain explorer https://chainz.cryptoid.info/cann/

My wallet is also stuck @166531 blocks at the moment

Update pls ?

edit:
Looks like things are back to normal, what happened ?

[CannabisCoinDev]

Hi Devs,
there seems to be a problem with the blockchain since the last hour :

Code:

Blockheight	Age	Transactions	Value Out	Difficulty	Extracted by
166531	24 minutes 	3	1,250.97723638 CANN	505.8	Unknown

from cryptoid blockchain explorer https://chainz.cryptoid.info/cann/

My wallet is also stuck @166531 blocks at the moment

Update pls ?

Its working no problem.  Check again.

[carafleur]

Very strange indeed, maybe it has nothing to do about it, but I just did a "large" buy at bittrex and sent my funds back to my wallet
Everything looks good on bittrex side :

Code:

08/28/2014 11:14:37 PM	CANN	31267.83728048	Completed

    Address: CKrYWyR8kUh1TXnbaF6WMh9rv37Ls53r8C
    TxId: 684554baeca5567fe6796de9e67afd3b1dd41d191912c6bb326273ae6004f9c5

but still, nothing in my wallet
I did the transfer before the bug and it should have been included in the blockchain by now

[true-asset]

Sometimes Bittrex withdrawals take 40 minutes. Its hows a TX ID but the transaction has not actually been broadcast on the network.

[carafleur]

I updated the client today, built from git

Code:

CannabisCoind getinfo
{
    "version" : 80602,
    "protocolversion" : 70012,
    "walletversion" : 60000,
    "balance" : 1142.76306119,
    "blocks" : 166583,
    "timeoffset" : 0,
    "connections" : 2,
    "proxy" : "",
    "difficulty" : 539.63773962,
    "testnet" : false,
    "keypoololdest" : 1408744133,
    "keypoolsize" : 101,
    "paytxfee" : 0.00000000,
    "mininput" : 0.00001000,
    "errors" : ""
}

hummm... I said before not to trust bittrex... and I used them again like a fool

[carafleur]

Sometimes Bittrex withdrawals take 40 minutes. Its hows a TX ID but the transaction has not actually been broadcast on the network.

thanks for the info, it reassures me a bit