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

[M1SHO]

Game over - exit asap  !  Just i think so  .......

[1714777957]

1714777957

[1714777957]

1714777957

[1714777957]

1714777957

[Normandoyle]

Game over - exit asap  !  Just i think so  .......

bye

[az420]

Maybe they don't have to pay taxes on it until they convert crypto>USD?

I originally thought that too, but then my question moved to, How would the State then keep track of how much tax the dispensary is required to pay?


Presumably that's the only reason that AZDHS requires the dispensary to report the financial details of each sale in the first place...





Thanks for reading the facts

[LazerPanther]

FUDDERS in FULL FORCE TODAY!

Haters are ANGRY at the success of the Cannabiscoin team. And trust me, they are EVERYWHERE!

I WILL continue to repeat myself:

STEER CLEAR and IGNORE:


-Worthless and meaningless FUD

-FUD spreaded by "trusted" members. These individuals are either being paid or are straightup ignorant. "TRUSTED" members are not always trustworthy. Big RED flag if you see "trusted" members spewing FUD posts left and right.

-Distractions. AVOID THEM. Hear people putting CANN down and putting another MJ coin on a pedestal? RED FLAG.


EVERYTHING is going great.

Cannabiscoin is going global faster than we think. Everything is GREEN.
OCTOBER 20TH is only the beginning!

Once again, I cannot stress this enough!!!! STEER CLEAR OF FUD AND DISTRACTIONS!

We are all on a successful path!

#YesWeCANN

+420,000,000

[BitcoinBoost]

A day of wasted energy. People seem to get all wordy arguing in forums, where is this enthusiasm on Reddit/Twitter/Emails? *sigh*  The math just doesn't make sense to me. Concerns could easily be addressed quickly and professionally while focusing on people outside these nerd walls. You think it's 'bad' now? Wait until we hit 20-25 cents. Maybe this is 'fun', I don't know.  I just see a major launch coming on Monday and we're yapping away like tweens after a Twlight movie.  Respect opinions, correct, move freaking on.

 There's so many initiatives the community could really use your help with.. are we ready? Many of you received a PM from me tonight, those links are a great place to start. Let's start focusing on the broader Cannabis community, let's focus on media that are looking for something 'quirky' to write about. This is a big story, we just need an army of supporters to coordinate it.

I rather help people and see a huge ROI than being 'right' on a forum with other crypto geeks.  I can do that next week, this isn't the time.

[mitchr4]

price coming back up after az420 admits cann is a good thing as long as its not a get rich scheme...

[karlb187]

Game over - exit asap  !  Just i think so  .......

lol, I will feel sorry for you in a week.  

Now is the time to buy buy buy. IMO

[az420]

@az420 - good try manipulating the text :    3) The United States government recently changed certain regulations to categorize Bitcoins and other forms of digital currency as a form of legally recognized currency in the United States that IS subject to US forfeiture and money laundering laws.

The proper one must be :  

In some environments, virtual currency operates like “real” currency -- i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance -- but it does not have legal tender status in any jurisdiction.

The notice provides that virtual currency is treated as property for U.S. federal tax purposes.  General tax principles that apply to property transactions apply to transactions using virtual currency


 

source : http://www.irs.gov/uac/Newsroom/IRS-Virtual-Currency-Guidance

Thanks for the comment!



The Department of Treasury's Financial Crimes Enforcement Network (FinCEN) added "other value that substitutes for currency" to its definition of money services businesses.

The U.S. Government Accountability Office reviewed virtual currencies upon the request of the Senate Finance Committee and in May 2013 recommended that the IRS formulate tax guidance for bitcoin businesses. On 25 March 2014, in time for 2013 tax filing, the IRS issued a guidance that virtual currency is treated as property for U.S. federal tax purposes and that "an individual who 'mines' virtual currency as a trade or business [is] subject to self-employment tax".


I think you might be right, but my argument is simply that the US Government and the State of Arizona will consider Cannabis Coin to be currency, and as such, it will be subject to taxation. Again, remember that there are reporting requirements for dispensaries in Arizona.


A dispensary accepting "property" instead of USD in exchange for medical marijuana won't sit well with the money hungry State of Arizona.


An Arizona dispensary could never accept Cannabis Coin without paying the State of Arizona their tax money on any income that they receive. To suggest that HWC could accept CANN and not pay taxes is ridiculous. Even paying LESS taxes than would be paid from a USD sale will result in the State/IRS going after the dispensary for money laundering and tax evasion. When I say paying taxes, I mean USD. The state doesn't want your Cannabis Coins.


If your arguing that the State of Arizona or the IRS is going to allow a NON-PROFIT medical marijuana dispensary to launder virtual currency income rather than pay tax on its USD equivalent, you might be a little nutty.


The State of Arizona wants its money. The IRS also wants its money.


The state of Arizona isn't going to stand by and let a dispensary evade taxes by way of a clever payment arrangement. Arizona is run by crooks. Our state is required by law to maintain 99% prison occupancy. Arizona throws you in jail if your Mexican or suntanned. This is THAT state.



Thanks for reading!

Dude, am I wrong or this was already adressed and you forgot to learn to read ?

If they sell weed for one cann coin, and that cann coin is worth 5 cents, then they will put a 5 cents coins in the ledger with a proof.

So what you say seems completely irrelevant.

NOW BUY BUY BUY BEFORE IT'S TOO LATE !

ps: But don't buy too fast, I need coins too.

Thanks for the comment.


I understand that the dispensary can sell weed for 1 CANN, and that CANN is worth 5 cents, then they will put a 5 cents coins in the ledger for the transaction.


My point is that when a dispensary sells 1 gram of marijuana, the State of Arizona wants to collect the tax from a $20 USD sale. That's their money. Instead your telling the State of Arizona to take collect the tax associated with a 5 cent sale instead of a $20 sale. That's taking money from the State of Arizona, and that's a big NO NO.


My concern is that the State will simply prosecute dispensaries for tax evasion and money laundering, because the dispensary isn't paying the tax for the real value of the sale.


(ESPECIALLY in a situation where the dispensary pays the State tax on a 5 cent sale, and then later converts the CANN to USD for more than 5 cents)



Thanks

[BitcoinBoost]

I remember reading about celebrity tweets. Did it get any traction? Who is heading up that project?

[karlb187]

A day of wasted energy. People seem to get all wordy arguing in forums, where is this enthusiasm on Reddit/Twitter/Emails? *sigh*  The math just doesn't make sense to me. Concerns could easily be addressed quickly and professionally while focusing on people outside these nerd walls. You think it's 'bad' now? Wait until we hit 20-25 cents. Maybe this is 'fun', I don't know.  I just see a major launch coming on Monday and we're yapping away like tweens after a Twlight movie.  Respect opinions, correct, move freaking on.

 There's so many initiatives the community could really use your help with.. are we ready? Many of you received a PM from me tonight, those links are a great place to start. Let's start focusing on the broader Cannabis community, let's focus on media that are looking for something 'quirky' to write about. This is a big story, we just need an army of supporters to coordinate it.

I rather help people and see a huge ROI than being 'right' on a forum with other crypto geeks.  I can do that next week, this isn't the time.

I am sending a email to all my website members (over 4,000) and I still have some good news for the CANN community but I am waiting until I have it 100% ready. I know everyone will love it!

Yes We CANN! (I had to say it   )

[BitcoinBoost]

A day of wasted energy. People seem to get all wordy arguing in forums, where is this enthusiasm on Reddit/Twitter/Emails? *sigh*  The math just doesn't make sense to me. Concerns could easily be addressed quickly and professionally while focusing on people outside these nerd walls. You think it's 'bad' now? Wait until we hit 20-25 cents. Maybe this is 'fun', I don't know.  I just see a major launch coming on Monday and we're yapping away like tweens after a Twlight movie.  Respect opinions, correct, move freaking on.

 There's so many initiatives the community could really use your help with.. are we ready? Many of you received a PM from me tonight, those links are a great place to start. Let's start focusing on the broader Cannabis community, let's focus on media that are looking for something 'quirky' to write about. This is a big story, we just need an army of supporters to coordinate it.

I rather help people and see a huge ROI than being 'right' on a forum with other crypto geeks.  I can do that next week, this isn't the time.

I am sending a email to all my website members (over 4,000) and I still have some good news for the CANN community but I am waiting until I have it 100% ready. I know everyone will love it!

Yes We CANN! (I had to say it   )

Yes we CANN indeed! Thank you for handling business, fantastic!  I have a few more PMs to send out, I already went the Google Doc and working on adding new links shortly afterward.

[monkeydong1]

@az420 - good try manipulating the text :    3) The United States government recently changed certain regulations to categorize Bitcoins and other forms of digital currency as a form of legally recognized currency in the United States that IS subject to US forfeiture and money laundering laws.

The proper one must be :  

In some environments, virtual currency operates like “real” currency -- i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance -- but it does not have legal tender status in any jurisdiction.

The notice provides that virtual currency is treated as property for U.S. federal tax purposes.  General tax principles that apply to property transactions apply to transactions using virtual currency


 

source : http://www.irs.gov/uac/Newsroom/IRS-Virtual-Currency-Guidance

Thanks for the comment!



The Department of Treasury's Financial Crimes Enforcement Network (FinCEN) added "other value that substitutes for currency" to its definition of money services businesses.

The U.S. Government Accountability Office reviewed virtual currencies upon the request of the Senate Finance Committee and in May 2013 recommended that the IRS formulate tax guidance for bitcoin businesses. On 25 March 2014, in time for 2013 tax filing, the IRS issued a guidance that virtual currency is treated as property for U.S. federal tax purposes and that "an individual who 'mines' virtual currency as a trade or business [is] subject to self-employment tax".


I think you might be right, but my argument is simply that the US Government and the State of Arizona will consider Cannabis Coin to be currency, and as such, it will be subject to taxation. Again, remember that there are reporting requirements for dispensaries in Arizona.


A dispensary accepting "property" instead of USD in exchange for medical marijuana won't sit well with the money hungry State of Arizona.


An Arizona dispensary could never accept Cannabis Coin without paying the State of Arizona their tax money on any income that they receive. To suggest that HWC could accept CANN and not pay taxes is ridiculous. Even paying LESS taxes than would be paid from a USD sale will result in the State/IRS going after the dispensary for money laundering and tax evasion. When I say paying taxes, I mean USD. The state doesn't want your Cannabis Coins.


If your arguing that the State of Arizona or the IRS is going to allow a NON-PROFIT medical marijuana dispensary to launder virtual currency income rather than pay tax on its USD equivalent, you might be a little nutty.


The State of Arizona wants its money. The IRS also wants its money.


The state of Arizona isn't going to stand by and let a dispensary evade taxes by way of a clever payment arrangement. Arizona is run by crooks. Our state is required by law to maintain 99% prison occupancy. Arizona throws you in jail if your Mexican or suntanned. This is THAT state.



Thanks for reading!

Dude, am I wrong or this was already adressed and you forgot to learn to read ?

If they sell weed for one cann coin, and that cann coin is worth 5 cents, then they will put a 5 cents coins in the ledger with a proof.

So what you say seems completely irrelevant.

NOW BUY BUY BUY BEFORE IT'S TOO LATE !

ps: But don't buy too fast, I need coins too.

Thanks for the comment.


I understand that the dispensary can sell weed for 1 CANN, and that CANN is worth 5 cents, then they will put a 5 cents coins in the ledger for the transaction.


My point is that when a dispensary sells 1 gram of marijuana, the State of Arizona wants to collect the tax from a $20 USD sale. That's their money. Instead your telling the State of Arizona to take collect the tax associated with a 5 cent sale instead of a $20 sale. That's taking money from the State of Arizona, and that's a big NO NO.


My concern is that the State will simply prosecute dispensaries for tax evasion and money laundering, because the dispensary isn't paying the tax for the real value of the sale.


(ESPECIALLY in a situation where the dispensary pays the State tax on a 5 cent sale, and then later converts the CANN to USD for more than 5 cents)



Thanks

I did not know that the state set the price on weeds themselves, and set the minimum cut they should get out of anything related to it..
It does not make sense to me, but if it would be the case then -sure-.

I thought laws would go like "we take x % of your profit" and this is irelevant that it is 0.1$ or 100$.

[corather]

  I AM however an Arizona medical marijuana patient/grower who has worked in the medical marijuana industry in California since 2005, and Arizona since 2009.

So you're a competitor to HWC.

Got it.  Noted. Exactly as suspected.

No, I'm not a competitor of HWC.

You say you've worked in the industry for nine years.

Do you sell marijuana to other patients?

If the answer is yes (and for your claim to be the 'industry' to be true, it pretty much has to be), then you're a competitor.

You're threatened by change. Understandable.  But you'd be better served to learn and adapt instead of fighting it out of fear.

I don't currently sell marijuana to other patients, but I'd be a liar if I said that I had never done so.


How's this for honest and transparent? Even though I don't work for any dispensary, and I don't sell marijuana to any patients, I WOULD be willing to accept the notion that I'm a competitor simply in the sense that I don't support the CORPORATE dispensary model and the high prices for marijuana that come along with it.


So in a nutshell;

NO I do not support the $400/Ounce prices that Herbal Wellness Center has advertised on their website.

YES I do support selling 1 gram of medical marijuana for 6 cents.


My agenda is working to lower prices of medical marijuana for seriously ill patients, and if Cannabis Coin furthers that agenda, awesome!


My point is simple though; EVERYONE has an AGENDA, myself included, even if they aren't specifically a competitor by definition.


Change I can handle, so long as it furthers the end goal of helping the patients. If it doesn't further that agenda, it's worthless.


Asking sick people to convert their USD to Cannabis Coin so that they can buy 1 specific house strain of marijuana from 1 particular dispensary, rather than buying the strain that actually works for their condition, is NOT in the best interest of seriously ill patients.



Thanks

INCORRECT

[karlb187]

I remember reading about celebrity tweets. Did it get any traction? Who is heading up that project?

looking on http://fiverr right now.

I used a guy in the past with 450K followers and I will contact him too.

all of us in the CANN community need to flood Fiverr with social marketing gigs!

Make sure to include #yeswecann & @cannabiscoins with your tweets and we will blow up.  

[corather]

@az420 - good try manipulating the text :    3) The United States government recently changed certain regulations to categorize Bitcoins and other forms of digital currency as a form of legally recognized currency in the United States that IS subject to US forfeiture and money laundering laws.

The proper one must be :  

In some environments, virtual currency operates like “real” currency -- i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance -- but it does not have legal tender status in any jurisdiction.

The notice provides that virtual currency is treated as property for U.S. federal tax purposes.  General tax principles that apply to property transactions apply to transactions using virtual currency


 

source : http://www.irs.gov/uac/Newsroom/IRS-Virtual-Currency-Guidance

Thanks for the comment!



The Department of Treasury's Financial Crimes Enforcement Network (FinCEN) added "other value that substitutes for currency" to its definition of money services businesses.

The U.S. Government Accountability Office reviewed virtual currencies upon the request of the Senate Finance Committee and in May 2013 recommended that the IRS formulate tax guidance for bitcoin businesses. On 25 March 2014, in time for 2013 tax filing, the IRS issued a guidance that virtual currency is treated as property for U.S. federal tax purposes and that "an individual who 'mines' virtual currency as a trade or business [is] subject to self-employment tax".


I think you might be right, but my argument is simply that the US Government and the State of Arizona will consider Cannabis Coin to be currency, and as such, it will be subject to taxation. Again, remember that there are reporting requirements for dispensaries in Arizona.


A dispensary accepting "property" instead of USD in exchange for medical marijuana won't sit well with the money hungry State of Arizona.


An Arizona dispensary could never accept Cannabis Coin without paying the State of Arizona their tax money on any income that they receive. To suggest that HWC could accept CANN and not pay taxes is ridiculous. Even paying LESS taxes than would be paid from a USD sale will result in the State/IRS going after the dispensary for money laundering and tax evasion. When I say paying taxes, I mean USD. The state doesn't want your Cannabis Coins.


If your arguing that the State of Arizona or the IRS is going to allow a NON-PROFIT medical marijuana dispensary to launder virtual currency income rather than pay tax on its USD equivalent, you might be a little nutty.


The State of Arizona wants its money. The IRS also wants its money.


The state of Arizona isn't going to stand by and let a dispensary evade taxes by way of a clever payment arrangement. Arizona is run by crooks. Our state is required by law to maintain 99% prison occupancy. Arizona throws you in jail if your Mexican or suntanned. This is THAT state.



Thanks for reading!

Dude, am I wrong or this was already adressed and you forgot to learn to read ?

If they sell weed for one cann coin, and that cann coin is worth 5 cents, then they will put a 5 cents coins in the ledger with a proof.

So what you say seems completely irrelevant.

NOW BUY BUY BUY BEFORE IT'S TOO LATE !

ps: But don't buy too fast, I need coins too.

Thanks for the comment.


I understand that the dispensary can sell weed for 1 CANN, and that CANN is worth 5 cents, then they will put a 5 cents coins in the ledger for the transaction.


My point is that when a dispensary sells 1 gram of marijuana, the State of Arizona wants to collect the tax from a $20 USD sale. That's their money. Instead your telling the State of Arizona to take collect the tax associated with a 5 cent sale instead of a $20 sale. That's taking money from the State of Arizona, and that's a big NO NO.


My concern is that the State will simply prosecute dispensaries for tax evasion and money laundering, because the dispensary isn't paying the tax for the real value of the sale.


(ESPECIALLY in a situation where the dispensary pays the State tax on a 5 cent sale, and then later converts the CANN to USD for more than 5 cents)



Thanks

INCORRECT

42 points deducted.

[monkeydong1]

@az420 - good try manipulating the text :    3) The United States government recently changed certain regulations to categorize Bitcoins and other forms of digital currency as a form of legally recognized currency in the United States that IS subject to US forfeiture and money laundering laws.

The proper one must be :  

In some environments, virtual currency operates like “real” currency -- i.e., the coin and paper money of the United States or of any other country that is designated as legal tender, circulates, and is customarily used and accepted as a medium of exchange in the country of issuance -- but it does not have legal tender status in any jurisdiction.

The notice provides that virtual currency is treated as property for U.S. federal tax purposes.  General tax principles that apply to property transactions apply to transactions using virtual currency


 

source : http://www.irs.gov/uac/Newsroom/IRS-Virtual-Currency-Guidance

Thanks for the comment!



The Department of Treasury's Financial Crimes Enforcement Network (FinCEN) added "other value that substitutes for currency" to its definition of money services businesses.

The U.S. Government Accountability Office reviewed virtual currencies upon the request of the Senate Finance Committee and in May 2013 recommended that the IRS formulate tax guidance for bitcoin businesses. On 25 March 2014, in time for 2013 tax filing, the IRS issued a guidance that virtual currency is treated as property for U.S. federal tax purposes and that "an individual who 'mines' virtual currency as a trade or business [is] subject to self-employment tax".


I think you might be right, but my argument is simply that the US Government and the State of Arizona will consider Cannabis Coin to be currency, and as such, it will be subject to taxation. Again, remember that there are reporting requirements for dispensaries in Arizona.


A dispensary accepting "property" instead of USD in exchange for medical marijuana won't sit well with the money hungry State of Arizona.


An Arizona dispensary could never accept Cannabis Coin without paying the State of Arizona their tax money on any income that they receive. To suggest that HWC could accept CANN and not pay taxes is ridiculous. Even paying LESS taxes than would be paid from a USD sale will result in the State/IRS going after the dispensary for money laundering and tax evasion. When I say paying taxes, I mean USD. The state doesn't want your Cannabis Coins.


If your arguing that the State of Arizona or the IRS is going to allow a NON-PROFIT medical marijuana dispensary to launder virtual currency income rather than pay tax on its USD equivalent, you might be a little nutty.


The State of Arizona wants its money. The IRS also wants its money.


The state of Arizona isn't going to stand by and let a dispensary evade taxes by way of a clever payment arrangement. Arizona is run by crooks. Our state is required by law to maintain 99% prison occupancy. Arizona throws you in jail if your Mexican or suntanned. This is THAT state.



Thanks for reading!

Dude, am I wrong or this was already adressed and you forgot to learn to read ?

If they sell weed for one cann coin, and that cann coin is worth 5 cents, then they will put a 5 cents coins in the ledger with a proof.

So what you say seems completely irrelevant.

NOW BUY BUY BUY BEFORE IT'S TOO LATE !

ps: But don't buy too fast, I need coins too.

Thanks for the comment.


I understand that the dispensary can sell weed for 1 CANN, and that CANN is worth 5 cents, then they will put a 5 cents coins in the ledger for the transaction.


My point is that when a dispensary sells 1 gram of marijuana, the State of Arizona wants to collect the tax from a $20 USD sale. That's their money. Instead your telling the State of Arizona to take collect the tax associated with a 5 cent sale instead of a $20 sale. That's taking money from the State of Arizona, and that's a big NO NO.


My concern is that the State will simply prosecute dispensaries for tax evasion and money laundering, because the dispensary isn't paying the tax for the real value of the sale.


(ESPECIALLY in a situation where the dispensary pays the State tax on a 5 cent sale, and then later converts the CANN to USD for more than 5 cents)



Thanks

INCORRECT

42 points deducted.

Where is my big "correct" then ? .

ps: I'll take a "half correct" also.

[corather]

monkeydong1:

CORRECT!

42 points credited.

[monkeydong1]

monkeydong1:

CORRECT!

42 points credited.

YES WE ARE !

[burner2014]

monkeydong1:

CORRECT!

42 points credited.

YES WE ARE !

Lets do it!

[natmccoy]

You guys do realize than when you quote someone you don't have to quote the entire novel-sized thread of comments that has accumulated above them....? Delete some of that before you press send, it's not hard.