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

[Normandoyle]

Potential investor here.

Let's say I own a dispensary in Colorado.  I have as much business as I can handle because, well, legal weed.

Why should I accept CannabisCoin?

I like the idea behind CannabisCoin and the peg, I just need to understand why more than just this one dispensary associated with the dev will want to adopt it.  Why should I accept a coin and sell my weed at a loss in hopes the coin will accrue in value so I can break even.  Why not just use Bitcoin?  Or Darkcoin since it has anonymity.

Thank you.

First of all, by accepting the CANN Peg, you are being part of the CANN Movement. And the goal is to allow patients access to affordable medication.

Secondly, since CannabisCoin is pegged at 1:1, meaning 1 CANN per Gram of Cannabis, CannabisCoin will be a MORE STABLE cryptocurrency than Bitcoin or Darkcoin.
For example, Bitcoin is already accepted by a dispensary in Washington (http://www.coindesk.com/washington-dispensary-now-takes-bitcoin-cannabis/)
Now imagine how volatile Bitcoin can be and as a business owner, if you do not instant-exchange your Bitcoin for Fiat, you might take a big loss the next day.

As for a customer, today he may pay for a gram of Strain A @ 0.05 BTC, since BTC price now is $400, so thats about $20 he is paying for a gram of Strain A.
However, perhaps BTC drops by 10% tmr, then the cost in BTC to the customer has just gone up by 10%, so he now has to pay 0.055 BTC.

Whereas, by using CannabisCoin, whatever the price of CannabisCoin, the price to a customer and the dispensary will ALWAYS be the same since the Peg is 1:1, so 1 CANN per Gram of Cannabis.
Hence, CannabisCoin is LESS Volatile and MORE Stable, a better choice for dispensaries among many other cryptocurrencies out there!

Thirdly, as for selling Cannabis at a loss, yes for the short-term, it is paper loss. Not that I am expecting you to instant-exchange Cannabis for Fiat until at least near parity or at parity.

Lastly, the question now in your head is, then how long do I have to wait for CannabisCoin price to reach parity and while waiting, what do I stand to gain? Simple.
You end up with MORE NEW Customers. Customers that got to know you because of the CANN Peg may end up being a long-term customer. (Think the Groupon effect here, small loss on a single product/service in exchange for new customers)
And once the news spread that there are dispensaries that have adopted the CANN Peg, it won't take long for the price of 1 CannabisCoin to reach parity to the average price of 1 Gram of Cannabis.

Oh and 1 more thing, why should dispensaries get involved with crypto in the 1st place?
Well, blame the banks for being so hostile to dispensaries. The banks do not want to deal with dispensaries and many are unbanked even up to today!

So what's the risk to the cannabis industry by being unbanked which some may ask?
Well, it’s a massive public safety risk where having a lot of cash on site makes cannabis businesses savory targets to and for criminals.
It also creates ample difficulties for doing business on a day-to-day basis where you cannot offer customers debit or credit card services and where paying your taxes and payroll is very, very challenging.

Read more here:
http://www.usatoday.com/story/money/business/2014/08/31/pot-marijuana-industry/13628491/

Wow, pump much?  I like the idea and all but we need to be realistic. By saying its will be more stable than BTC is just plain non sense. I dont even need to explain that...

And you must know nothing about biz and Groupon. It is detrimental to small business! There are plenty of horror stories about it. I own a restaurant and food trailer and have seen it first hand.  In a simple math explanation, no small biz can make money (even if you get new customers, which you wont as Groupners are the most fickle customer base that exist) on 25 cents to the dollar. There is no money there left, ive had friends try it after i strongly suggested otherwise. They said they can make it up on volume and new customer (the sales pitch from Groupon). lol, how do you 'make it up one volume' if you are losing .75 cents per dollar on every sale. Groupon should go out of business. Sorry for the rant, but ppl need to know about their scam, unless you are a HUGE corp, it will COST you money with very little customer retention.

And the local banks are working with them. Im not trying to say this is a bad buy or anything just putting my 2 cents of reality. Like the above post, its cap would need to be around 1B. Seems unlikely with one dispensary taking it.

-CANN will be used for other products worldwide, not just Marijuana.
-HWC is the first dispensery, not just the "only one"
-More events at other dispenseries will happen after the 20th.
-Take the time to read the devs updates from the past month.

[1713944529]

1713944529

[Virtuoso]

to MYFARM

I think there are some reasons:

--You get more customer...

-- You get free comercial...

-- I think you can get in contact with Delta9 to sell Canndy, the strain and the seeds, too. Wich you can get only with this coin... there is no other legal Chance to get These products...so you can sell a Special product in your area...

-- You can still earn on price rise and Support it

 

[AllCoinedUp]

Potential investor here.

Let's say I own a dispensary in Colorado.  I have as much business as I can handle because, well, legal weed.

Why should I accept CannabisCoin?

I like the idea behind CannabisCoin and the peg, I just need to understand why more than just this one dispensary associated with the dev will want to adopt it.  Why should I accept a coin and sell my weed at a loss in hopes the coin will accrue in value so I can break even.  Why not just use Bitcoin?  Or Darkcoin since it has anonymity.

Thank you.

First of all, by accepting the CANN Peg, you are being part of the CANN Movement. And the goal is to allow patients access to affordable medication.

Secondly, since CannabisCoin is pegged at 1:1, meaning 1 CANN per Gram of Cannabis, CannabisCoin will be a MORE STABLE cryptocurrency than Bitcoin or Darkcoin.
For example, Bitcoin is already accepted by a dispensary in Washington (http://www.coindesk.com/washington-dispensary-now-takes-bitcoin-cannabis/)
Now imagine how volatile Bitcoin can be and as a business owner, if you do not instant-exchange your Bitcoin for Fiat, you might take a big loss the next day.

As for a customer, today he may pay for a gram of Strain A @ 0.05 BTC, since BTC price now is $400, so thats about $20 he is paying for a gram of Strain A.
However, perhaps BTC drops by 10% tmr, then the cost in BTC to the customer has just gone up by 10%, so he now has to pay 0.055 BTC.

Whereas, by using CannabisCoin, whatever the price of CannabisCoin, the price to a customer and the dispensary will ALWAYS be the same since the Peg is 1:1, so 1 CANN per Gram of Cannabis.
Hence, CannabisCoin is LESS Volatile and MORE Stable, a better choice for dispensaries among many other cryptocurrencies out there!

Thirdly, as for selling Cannabis at a loss, yes for the short-term, it is paper loss. Not that I am expecting you to instant-exchange Cannabis for Fiat until at least near parity or at parity.

Lastly, the question now in your head is, then how long do I have to wait for CannabisCoin price to reach parity and while waiting, what do I stand to gain? Simple.
You end up with MORE NEW Customers. Customers that got to know you because of the CANN Peg may end up being a long-term customer. (Think the Groupon effect here, small loss on a single product/service in exchange for new customers)
And once the news spread that there are dispensaries that have adopted the CANN Peg, it won't take long for the price of 1 CannabisCoin to reach parity to the average price of 1 Gram of Cannabis.

Oh and 1 more thing, why should dispensaries get involved with crypto in the 1st place?
Well, blame the banks for being so hostile to dispensaries. The banks do not want to deal with dispensaries and many are unbanked even up to today!

So what's the risk to the cannabis industry by being unbanked which some may ask?
Well, it’s a massive public safety risk where having a lot of cash on site makes cannabis businesses savory targets to and for criminals.
It also creates ample difficulties for doing business on a day-to-day basis where you cannot offer customers debit or credit card services and where paying your taxes and payroll is very, very challenging.

Read more here:
http://www.usatoday.com/story/money/business/2014/08/31/pot-marijuana-industry/13628491/

Wow, pump much?  I like the idea and all but we need to be realistic. By saying its will be more stable than BTC is just plain non sense. I dont even need to explain that...

And you must know nothing about biz and Groupon. It is detrimental to small business! There are plenty of horror stories about it. I own a restaurant and food trailer and have seen it first hand.  In a simple math explanation, no small biz can make money (even if you get new customers, which you wont as Groupners are the most fickle customer base that exist) on 25 cents to the dollar. There is no money there left, ive had friends try it after i strongly suggested otherwise. They said they can make it up on volume and new customer (the sales pitch from Groupon). lol, how do you 'make it up one volume' if you are losing .75 cents per dollar on every sale. Groupon should go out of business. Sorry for the rant, but ppl need to know about their scam, unless you are a HUGE corp, it will COST you money with very little customer retention.

And the local banks are working with them. Im not trying to say this is a bad buy or anything just putting my 2 cents of reality. Like the above post, its cap would need to be around 1B. Seems unlikely with one dispensary taking it.

-CANN will be used for other products worldwide, not just Marijuana.
-HWC is the first dispensery, not just the "only one"
-More events at other dispenseries will happen after the 20th.
-Take the time to read the devs updates from the past month.

Oh i have read them. I like the idea dont get me wrong. Its just not realistic to say that CANN will be at 8-10$ a coin soon. Just like the guy asked earlier...if he owned a disp, why not just use btc or dark? No one answered him to that in all the lengthy explanations. Because there isnt a good one yet. But there could be, in the distant future when they maybe make 1 cann to one gram of ANY strand!

[MyFarm]

Potential investor here.

Let's say I own a dispensary in Colorado.  I have as much business as I can handle because, well, legal weed.

Why should I accept CannabisCoin?

I like the idea behind CannabisCoin and the peg, I just need to understand why more than just this one dispensary associated with the dev will want to adopt it.  Why should I accept a coin and sell my weed at a loss in hopes the coin will accrue in value so I can break even.  Why not just use Bitcoin?  Or Darkcoin since it has anonymity.

Thank you.

First of all, by accepting the CANN Peg, you are being part of the CANN Movement. And the goal is to allow patients access to affordable medication.

As an angel investor, I hear pitches all the time from people where the main crux of their argument is that this will make a positive difference in the world. While that's nice, I already donate to charities and am not interested in another one.  I want to know where the value is and, "It's the right thing to do" is not valuable unfortunately.

Secondly, since CannabisCoin is pegged at 1:1, meaning 1 CANN per Gram of Cannabis, CannabisCoin will be a MORE STABLE cryptocurrency than Bitcoin or Darkcoin.
For example, Bitcoin is already accepted by a dispensary in Washington (http://www.coindesk.com/washington-dispensary-now-takes-bitcoin-cannabis/)
Now imagine how volatile Bitcoin can be and as a business owner, if you do not instant-exchange your Bitcoin for Fiat, you might take a big loss the next day.

I would agree IF a LOT of dispensaries were accepting CannabisCoin.  I want to know WHY dispensaries should accept CannabisCoin.  Because if they don't, then the peg won't matter in the medium to long run.

Lastly, the question now in your head is, then how long do I have to wait for CannabisCoin price to reach parity and while waiting, what do I stand to gain? Simple.
You end up with MORE NEW Customers. Customers that got to know you because of the CANN Peg may end up being a long-term customer. (Think the Groupon effect here, small loss on a single product/service in exchange for new customers)
And once the news spread that there are dispensaries that have adopted the CANN Peg, it won't take long for the price of 1 CannabisCoin to reach parity to the average price of 1 Gram of Cannabis.

Most dispensaries already have plenty of customers.  There's no reason for them to accept a coin that will result in them getting more customers which would cause them to lose money on every transaction.

CannaisCoin has to hit the tipping point with dispensaries.  I want to know how and why that is going to happen and I haven't heard the answer yet.  I do hope there is an answer though as I'd love to get on board.

Oh and 1 more thing, why should dispensaries get involved with crypto in the 1st place?
Well, blame the banks for being so hostile to dispensaries. The banks do not want to deal with dispensaries and many are unbanked even up to today!

So what's the risk to the cannabis industry by being unbanked which some may ask?
Well, it’s a massive public safety risk where having a lot of cash on site makes cannabis businesses savory targets to and for criminals.
It also creates ample difficulties for doing business on a day-to-day basis where you cannot offer customers debit or credit card services and where paying your taxes and payroll is very, very challenging.

Read more here:
http://www.usatoday.com/story/money/business/2014/08/31/pot-marijuana-industry/13628491/

Agreed.  But why should I use Cannabiscoin at a loss over Bitcoin with its sider adoption or Darkcoin and its anonymity?

You are forgetting that bitcoin was once worth nothing, not all that long ago...  If I would have told you 4 years ago Bitcoin would hit $1,000, you would have laughed as well...

As an early adopter of Bitcoin (see my reg date) I can assure you I would not and did not laugh.

[llednar]

Potential investor here.

Let's say I own a dispensary in Colorado.  I have as much business as I can handle because, well, legal weed.

Why should I accept CannabisCoin?

I like the idea behind CannabisCoin and the peg, I just need to understand why more than just this one dispensary associated with the dev will want to adopt it.  Why should I accept a coin and sell my weed at a loss in hopes the coin will accrue in value so I can break even.  Why not just use Bitcoin?  Or Darkcoin since it has anonymity.

Thank you.

First of all, by accepting the CANN Peg, you are being part of the CANN Movement. And the goal is to allow patients access to affordable medication.

As an angel investor, I hear pitches all the time from people where the main crux of their argument is that this will make a positive difference in the world. While that's nice, I already donate to charities and am not interested in another one.  I want to know where the value is and, "It's the right thing to do" is not valuable unfortunately.

Secondly, since CannabisCoin is pegged at 1:1, meaning 1 CANN per Gram of Cannabis, CannabisCoin will be a MORE STABLE cryptocurrency than Bitcoin or Darkcoin.
For example, Bitcoin is already accepted by a dispensary in Washington (http://www.coindesk.com/washington-dispensary-now-takes-bitcoin-cannabis/)
Now imagine how volatile Bitcoin can be and as a business owner, if you do not instant-exchange your Bitcoin for Fiat, you might take a big loss the next day.

I would agree IF a LOT of dispensaries were accepting CannabisCoin.  I want to know WHY dispensaries should accept CannabisCoin.  Because if they don't, then the peg won't matter in the medium to long run.

Lastly, the question now in your head is, then how long do I have to wait for CannabisCoin price to reach parity and while waiting, what do I stand to gain? Simple.
You end up with MORE NEW Customers. Customers that got to know you because of the CANN Peg may end up being a long-term customer. (Think the Groupon effect here, small loss on a single product/service in exchange for new customers)
And once the news spread that there are dispensaries that have adopted the CANN Peg, it won't take long for the price of 1 CannabisCoin to reach parity to the average price of 1 Gram of Cannabis.

Most dispensaries already have plenty of customers.  There's no reason for them to accept a coin that will result in them getting more customers which would cause them to lose money on every transaction.

CannaisCoin has to hit the tipping point with dispensaries.  I want to know how and why that is going to happen and I haven't heard the answer yet.  I do hope there is an answer though as I'd love to get on board.

Oh and 1 more thing, why should dispensaries get involved with crypto in the 1st place?
Well, blame the banks for being so hostile to dispensaries. The banks do not want to deal with dispensaries and many are unbanked even up to today!

So what's the risk to the cannabis industry by being unbanked which some may ask?
Well, it’s a massive public safety risk where having a lot of cash on site makes cannabis businesses savory targets to and for criminals.
It also creates ample difficulties for doing business on a day-to-day basis where you cannot offer customers debit or credit card services and where paying your taxes and payroll is very, very challenging.

Read more here:
http://www.usatoday.com/story/money/business/2014/08/31/pot-marijuana-industry/13628491/

Agreed.  But why should I use Cannabiscoin at a loss over Bitcoin with its sider adoption or Darkcoin and its anonymity?

After reading your post, and having followed this thread for the past month or so. Every single one of your questions have been answered if you had bothered to read the past pages. Dispensaries will be accepting 1cann for 1gram, if you are stupid enough to not believe that will continue to happen after the first transaction, then great, don't go buy $5 worth of coin now and be able to get a bunch of grams. Not our problem. You should use Cannabiscoin because it is backed at 1:1 ratio, dispensaries WILL ACCEPT IT so that's your stability, price will not flucuate like btc, which also means businesses can store their CANN in wallets (or however they want) without fear to come back the next day and see all their CANN they own halved in value. You would sell grams for 1 CANN at a loss (initially) for promotion to yourself, and the coin, which will eventually reach parity, even with that, there is still a limit to how much CANN you can use in dispensaries a day, for obvious reasons.

Seriously, if you really care about the information you took time to type up, either contact the Dev, or READ.

Furthermore... accepting a loss for early transactions, if dispensaries hold their CANN till parity, they lose nothing....

[dynamite]

It looks like every marijuana coin is up today! It must be some of the huge CANN profits moving over.


CANN needs a fun website for regular people to use, like the one THC has at https://hemp.cash



It's fun and easy for anyone to use.

[placebo]

It looks like every marijuana coin is up today! It must be some of the huge CANN profits moving over.


CANN needs a fun website for regular people to use, like the one THC has at https://hemp.cash



It's fun and easy for anyone to use.

DOPE coin hashrate is exploding!!! Over 330MH/s already!!! THC is a great coin. One of my friends has been working on their wallet, etc. But still DOPE is the coin to be in, still not on bittrex, so bittrex will mean, moon!!!

[Normandoyle]

I'm out for the day.

Be back tonight to hopefully read some updates from the devs!

#YesWeCANN!

[BTC-Buds]

the only coin i don't mind getting DUMPED on!!   

[zoata87]

the only coin i don't mind getting DUMPED on!!   

mid-class dump @trex

[placebo]

the only coin i don't mind getting DUMPED on!!   

mid-class dump @trex

People taking profit and move some of their profit to cheaper Dopecoins like DOPE, THC?

[BitHungry]

MyFarm, maybe message D9 or try to catch him in the IRC channel where he frequently hangs out.

Nobody here knows the talks\deals\agreements he is making with dispensaries and what not.  
I understand what you are asking, and what has been told to you wouldn't satisfy my questions either, if you are legitimately interested, you need to take it up with D9.
As much as I love this coin, and everyone here.... they are just talking out of their asses because they do not know the agreements in place.

[Avocyn]

Sorry guys, i have to sleep sometime aswell.. 

just needed to cut down my holdings so i could sleep safe.

hopefully this recovers by i wake up so i can buy in again well rested.

cheers all and looking forward to the future of this coin.

and happy 420 again =D

[ILoveBigBlackCocks]

Wow, you dumb fucks are falling for the URO scam all over again.  With 91 million coins out the, if 1 gram of weed equals 1 CANN, this coin would need to be backed up by 100 TONS of pot.  That is not hyperbole.  Do the math.

Until I see evidence the CANN devs have 100 tons of pot on hand, this is a pump and dump scam.

You can't just deem a coin to be worth a certain value and expect the market to miracle it to that price, that's not how the free market works.

Please buy into my new ICO, FantasyCoin.  It will be hand mined by my team of pixies.  1 FantasyCoin is worth all your life's wishes and dreams.  All you wishes and dreams are priceless, which by my math, means the market cap of my coin is infinity.  Suck it BTC, I am #1 now.

[zoata87]

Wow, you dumb fucks are falling for the URO scam all over again.  With 91 million coins out the, if 1 gram of weed equals 1 CANN, this coin would need to be backed up by 100 TONS of pot.  That is not hyperbole.  Do the math.

Until I see evidence the CANN devs have 100 tons of pot on hand, this is a pump and dump scam.

You can't just deem a coin to be worth a certain value and expect the market to miracle it to that price, that's not how the free market works.

Please buy into my new ICO, FantasyCoin.  It will be hand mined by my team of pixies.  1 FantasyCoin is worth all your life's wishes and dreams.  All you wishes and dreams are priceless, which by my math, means the market cap of my coin is infinity.  Suck it BTC, I am #1 now.

welcome to my ignore list :*

[mxhwr]

glad i sold my holding, mary jane is the next big one

[ILoveBigBlackCocks]

Wow, you dumb fucks are falling for the URO scam all over again.  With 91 million coins out the, if 1 gram of weed equals 1 CANN, this coin would need to be backed up by 100 TONS of pot.  That is not hyperbole.  Do the math.

Until I see evidence the CANN devs have 100 tons of pot on hand, this is a pump and dump scam.

You can't just deem a coin to be worth a certain value and expect the market to miracle it to that price, that's not how the free market works.

Please buy into my new ICO, FantasyCoin.  It will be hand mined by my team of pixies.  1 FantasyCoin is worth all your life's wishes and dreams.  All you wishes and dreams are priceless, which by my math, means the market cap of my coin is infinity.  Suck it BTC, I am #1 now.

welcome to my ignore list :*

Yeah, ignoring simple logic is easier than refuting it.

[dynamite]

the only coin i don't mind getting DUMPED on!!  

mid-class dump @trex

People taking profit and move some of their profit to cheaper Dopecoins like DOPE, THC?

Yeah. There are some huge 1000x profits for the people in early from c-cex.com. 0.05 BTC has turned into 50 BTC.

I'm sure those people have been selling just 10% and putting those 5 BTC into the other marijuana coins.



In the end CANNs success is actually helping out all POT, DOPE, CCN and THC.

This should be a lesson to all the haters thinking it's a competition between coins. When one does amazingly well. The profits flow into the other coins helping them all out!

[MyFarm]

Here's the thing.  You can say that you're pegged 1 to 1 but if I take 10,000 CANN to the dispensary right now, I will only be allowed to sell 1-3 CANN.  If I could sell say 500 to 20 different dispensaries, that would be a peg.  You can't expect to get it all at one place but you DO have to have an expectation that you can cash it all out.  Allow me to use a different analogy.

Let's say we went back on the gold system in the USA.  The government says for every $1.00 you have, you can go to Ft. Knox and get .xxxx ounces of gold.  But when you go to Ft Knox to cash out $100,000 they say they can't because they don't have enough gold for everyone to cash out.  

For a 1 to 1 peg of a coin that will have 100,000,000 coins, in order to have a 1 to 1 peg, you have to have a LOT of dispensaries.  Until I see a plan for getting those dispensaries on board, I'm afraid I can't commit funds.

MyFarm, maybe message D9 or try to catch him in the IRC channel where he frequently hangs out.

Nobody here knows the talks\deals\agreements he is making with dispensaries and what not.  
I understand what you are asking, and what has been told to you wouldn't satisfy my questions either, if you are legitimately interested, you need to take it up with D9.
As much as I love this coin, and everyone here.... they are just talking out of their asses because they do not know the agreements in place.

I like to see how a community responds before I invest in a coin.  And D9 shouldn't give me any inside info anyway, it should all be public.

[placebo]

glad i sold my holding, mary jane is the next big one

Move to DOPE, not on Bittrex yet... already 1000% higher, but still 1000% to go, if it hit Bittrex.