Rampant speculation warning!Wow! Looking at the market history on BitTrex this is mostly made up of small orders so I'd guess sales are coming mostly from small holders who bought during the long accumulation and who need to take profit as soon as it becomes available.
That's fair enough for them and we hope they are content with their trades.
The near future though...
<speculation on>
∆9 and the dev team have done a great job of not exciting the market during the "boring" period of initial test grow(s), casually mentioning a small harvest (very diesel, apparently) and generally going about their business while fending off pleas for market-pumping news and pictures.
Now we have a two-liner from ∆9 about being invited to an inaugural event. Guessing wildly, there's just 5 weeks to the 4/20 weekend, making that a likely event date.
A small teaser announcement now and a trickle of news until then would appear the most likely strategy to try to avoid a huge and currently unsustainable pump with subsequent dump.
<speculation ++ >
What will be shown at the upcoming event?
A coin? Not likely. A web wallet is too much of a yawn too.
Medical marijuana then? Now there's a possibility
Coin speculators dumping out in the 4/18-20 dates would be left stranded if there's a public unveiling of CANNdy. Most people will likely hold or even buy on tangible evidence of progress. Speculators will need to be very careful they don't get stranded without a re-entry point.
<speculation ++ >
What will come after the event?
Hmm... just appearing at an event with bloom in hand will cement the price of CannabisCoin. (Chew on that pump-&-dumpers
)
The logical progression from there is people counting on their fingers and toes, reckoning if that's bloom from a test crop and "mothers" were chosen from that, when could a first harvest take place? How long from there to dry/cure the product to testing, packing and actual distribution of CANNdy?
And that is just considering one grow site. We know there are more with varying percentages devoted to CANNdy production. As crops are distributed more dispensaries will accept and distribute donated CANNdy, word of CANN will spread and the media will take an interest. If the Feds do not free up banking to handle cannabis transactions dispensaries already accepting CANN for CANNdy will face no overhead accepting it at market value for other merchandise too. In fact they may even discount for cashless transactions.
If people think along those lines then CANN is in for a very long, very slow sustained escalation in exchange rate. The ceiling wouldn't be reached until recreational cash values or near enough. Assuming
BTC1 stabilizes at about US$500 then CANN would rise to somewhere around
BTC0.02 (2,000,000 sat). I don't imagine recreational marijuana will retail under about US$10/gram.
<speculation -- >
<speculation -- >
<speculation off>
Of course, none of that might be true and this run is just isolated excitement about a singular, unspecified event.
The above is just me speculating.
Comments?
