CannabisCoin [CANN][X11][Official] Developments & Discussions

[YESWECANN]

Added to OP:

Tweet about it ...

https://twitter.com/CannabisCoins/status/600747857381986305 

[charlieSeen]

Added to OP:

Tweet about it ...

https://twitter.com/CannabisCoins/status/600747857381986305 

Sweet!

[marcetin]

Well done guys!

New crowd funded node is up for CannabisCoin.

You can check status here:
https://bitnodes.net/node/194-135-90-175/

Cheers!

[B4zz4]

Well done guys!

New crowd funded node is up for CannabisCoin.

You can check status here:
https://bitnodes.net/node/194-135-90-175/

Cheers!

Nice to see the community supporting another seed node

While we are tidying things up and getting them squared away, if anyone hasn't encrypted their wallet yet, what are you waiting for? Take a moment and do it now. So much better than crying later

[YESWECANN]

Just a note for the CannabisCoin Community and ALL who use this forum!

Be aware that Bitcointalk forum was recently hacked and everyone should change their passwords.

More info here:

https://www.cryptocoinsnews.com/bitcoin-mining-figure-joshua-zipkin-responsible-bitcointalk-hack/

[CannabisCoinDev]

Well done guys!

New crowd funded node is up for CannabisCoin.

You can check status here:
https://bitnodes.net/node/194-135-90-175/

Cheers!

Added to "Announce" page and set DNS record pointing to seed6.cannabiscoin.net

~DeltaNine
YES WE CANN

[B4zz4]

A week or two back I suggested interesting times were coming with regard to trade in CannabisCoin. I was mostly interested in what would happen when CANNdy began distribution in volume.

Since then the floor price of CANN has risen by 20% to around 1550 sat (BTC0.0000155) and over the weekend someone in a hurry for one million (1,000,000) CANN pushed the price temporarily over 1750 sat.

What to make of that?

At present the mining subsidy equates to 6,750 CANN produced per day and the mining difficulty is only around 10 with about 1GHash/s in the pool. Miners need really cheap power if they are to profit from a floor price delivering only about BTC0.1/day in newly minted coin so obviously some people are looking to the future. That seems smart.

I don't think much CANNdy will need to be distributed to shift the returns from $20-25/day to the $200-250 range since that is still only pricing CANN at BTC0.00015 or about 3.5¢ at current bitcoin exchange value.

Will people pay the equivalent of 3.5¢ for a $10 pre-roll? Sounds like a no-brainer doesn't it?

The next question is: why is there so little mining effort being expended on CannabisCoin when the summer grow season is upon us and there is still 6-7 thousand CANN to be minted each day for another 6 weeks? That's more than 275,000 CANN still up for grabs before the next scheduled subsidy halving. Even under the next scheduled subsidy rate there's still another 164,000 CANN to be minted.

For those with cheap electricity or who can afford to wait for return on power expended (mining for future value) CANN looks to be the most promising mining prospect by far.

I wonder why so little mining hash is directed toward mining CannabisCoin at the moment? Are people not mining for future value, a very short-sighted business model, or have we been too good at keeping CannabisCoin below the radar, too well-hidden a gem in the slurry of pump&dump scam coins and me-too clones?

What do you think?

[Arbitrageur]

I think this looks like a scamcoin too! market doesn't believe in the peg 1 cannabiscoin = 1 gram, doesn't even believe 1000 cannabiscoin coin = 1 gr.
draw your conclusions.

[B4zz4]

I think this looks like a scamcoin too! market doesn't believe in the peg 1 cannabiscoin = 1 gram, doesn't even believe 1000 cannabiscoin coin = 1 gr.
draw your conclusions.

Yes, disbelief is likely a significant drag on CannabisCoin's uptake. That will change with the commencement and growth of CANNdy deliveries. As they say, seeing is believing.

[dygus]

A week or two back I suggested interesting times were coming with regard to trade in CannabisCoin. I was mostly interested in what would happen when CANNdy began distribution in volume.

Since then the floor price of CANN has risen by 20% to around 1550 sat (BTC0.0000155) and over the weekend someone in a hurry for one million (1,000,000) CANN pushed the price temporarily over 1750 sat.

What to make of that?

At present the mining subsidy equates to 6,750 CANN produced per day and the mining difficulty is only around 10 with about 1GHash/s in the pool. Miners need really cheap power if they are to profit from a floor price delivering only about BTC0.1/day in newly minted coin so obviously some people are looking to the future. That seems smart.

I don't think much CANNdy will need to be distributed to shift the returns from $20-25/day to the $200-250 range since that is still only pricing CANN at BTC0.00015 or about 3.5¢ at current bitcoin exchange value.

Will people pay the equivalent of 3.5¢ for a $10 pre-roll? Sounds like a no-brainer doesn't it?

The next question is: why is there so little mining effort being expended on CannabisCoin when the summer grow season is upon us and there is still 6-7 thousand CANN to be minted each day for another 6 weeks? That's more than 275,000 CANN still up for grabs before the next scheduled subsidy halving. Even under the next scheduled subsidy rate there's still another 164,000 CANN to be minted.

For those with cheap electricity or who can afford to wait for return on power expended (mining for future value) CANN looks to be the most promising mining prospect by far.

I wonder why so little mining hash is directed toward mining CannabisCoin at the moment? Are people not mining for future value, a very short-sighted business model, or have we been too good at keeping CannabisCoin below the radar, too well-hidden a gem in the slurry of pump&dump scam coins and me-too clones?

What do you think?

The price is only pumping&dumping from time to time, without a steady growth of value, it's very bad IMO. I agree with guy above ppl don't belive in 1cann=1gramm.  

[Mick666]

I see it differently, DeltaNine only needs a big field for the cultivation oudoor
the cost of producing a kilo of weed outdoor are the same as for a kilo of potatoes.
A good plant for example, Kali Mist brings with proper weather about 1.4 Kg
Also, I think that next year the price of grass in all states are much more affordable than today
1cann = 1gramm. no problem

[meliketitties]

I think the CANN supply can be inadequate (in quantity) to support the medical part of the cannabis business if parity is temporarily reached in the US but circulation doesn't happen. It has to exfiltrate to multiple niches and back to keep the economy going. Otherwise the peg needs to be raised maybe tenfold or more. If the bankers' attitude doesn't change this possibility is worth considering. If the majority of dispensaries adopt it at the pegged value it will need to be spent by dispensary owners as well. Especially if they decide to sell all their products at the pegged price. Why? Because cannabis is being produced and consumed at an increasing rate and there's a virtually unlimited supply but the coin is capped. I think the peg adjustment will become a reality for this reason if the banks keep sitting on the fence. Coin shortages would happen if the peg is not readjusted in time. So much weed, not enough coins...
92 million or so coins vs. tons and tons of MMJ. CANN will need to be cycled many times or readjusted to support such a market.

92 million grams of weed=92 tons. That's not very much imho. How much is that in time? Maybe 3-5 days of supply calculating with 10M heavy users, 20 days tops with the same number of moderate/minimal consumers if it gets accepted in most states.

[Jonesd]

I think the CANN supply can be inadequate (in quantity) to support the medical part of the cannabis business if parity is temporarily reached in the US but circulation doesn't happen. It has to exfiltrate to multiple niches and back to keep the economy going. Otherwise the peg needs to be raised maybe tenfold or more. If the bankers' attitude doesn't change this possibility is worth considering. If the majority of dispensaries adopt it at the pegged value it will need to be spent by dispensary owners as well. Especially if they decide to sell all their products at the pegged price. Why? Because cannabis is being produced and consumed at an increasing rate and there's a virtually unlimited supply but the coin is capped. I think the peg adjustment will become a reality for this reason if the banks keep sitting on the fence. Coin shortages would happen if the peg is not readjusted in time. So much weed, not enough coins...
92 million or so coins vs. tons and tons of MMJ. CANN will need to be cycled many times or readjusted to support such a market.

92 million grams of weed=92 tons. That's not very much imho. How much is that in time? Maybe 3-5 days of supply calculating with 10M heavy users, 20 days tops with the same number of moderate/minimal consumers if it gets accepted in most states.

If the cann would be sold back to the community that problem would be solved

[SGTxSTAYxGRIND]

I know its harder than it sounds, but what about converting to PoS after all cann has been minted? The stake's, in my mind, time period should be similar to that of a full growth period of a plant from seed to harvest. Now granted this time frame is a lot smaller than most PoS coins BUT the stake phase could yield a smaller percentage of coins to offset the shorter stake time of CANN.  Now an idea i had with the stake phase is something i dont think is out there yet.

Now if you are familiar with growing you know that you need to put harvests in cycles so you do not run out of medicine for your patients.  That being said i think that a holder of CANN should be able to allocate any number of coins to stake(aka growth period of a crop) as long as they hold the amount of coins of course and only being able to have multiple stakes dependent on how many coins said holder owns.  I honestly think this is one really good possible idea for longevity of CANN.  Again i understand it's way easier said than done but if all can be done properly i feel it would greatly benefit the future of CANN and its role with medical marijuana.


Thoughts? Concerns? Extra Ideas?

Criticism please, be honest!

Cheers SGT

[B4zz4]

Interesting.

I don't think total money supply is likely to be a problem with regard to the peg.

On the one hand we have a situation where over the past year Bittrex has seen a turnover of some four times the total CANN supply, even though only about one-third of the supply appears to be held in trading accounts on that platform. If all those coins are involved in active trading they are changing hands at least once a month, basically equivalent to a one-time exchange many times the net supply of CannabisCoin. Net supply does not equal net turnover and in the course of one year the total supply could turn over weekly, for example, making the above calculation 92 million * 52 = 4.78 billion grams or 4,784 metric tons - that's a lot of marijuana.

That said there is absolutely nothing to prevent inflation of coin supply should the price become excessive. At present the supply is short as some of the intended supply was "burned" as being an irrelevant distraction wielded by those would do CannabisCoin harm. This "missing" supply can easily be slowly restored by say, stopping the mining subsidy halving, for example. It would take a number of years now that block rewards are getting fairly low so inflationary effects would be unnoticeable. That is just one option and if the coin were to be forked for adjustment, which it must sooner or later, then total supply can be adjusted in any manner seen fit.

On the other hand total supply is completely irrelevant where the peg is concerned because the peg only applies to CANNdy (donated medication) and should CANN rise to say, Northeast recreational price equivalency because Federal policy keeps banks from facilitating marijuana transactions then the peg can be arbitrarily adjusted to whatever donations will support. This need not happen on a coin-wide basis either, participating dispensaries could decide to reserve donated product for hardship cases and make limited CANNdy supplies honor its charitable intent that way. Dispensaries can exchange CANN for any product at market rates now and that need not change even if market rates make 1:1 peg rates too expensive, the peg can become 1:2 or any desired ratio at all.

There seem to be plenty of avenues available to keep CannabisCoin relevant to its original intent regardless of its potential for becoming an expensive medium of marijuana exchange. It is good to discuss these possibilities now because the price may change very rapidly, as we saw with the first pegged exchange event last October. That said I think we still have plenty of time to kick these ideas around and sample community feeling on various options because I think a lot of CANNdy will need to be distributed before CANN reaches $1 equivalence, let alone 1 gram recreational equivalence.

Edited for spelling correction & fat finger syndrome

[B4zz4]

I know its harder than it sounds, but what about converting to PoS after all cann has been minted? The stake's, in my mind, time period should be similar to that of a full growth period of a plant from seed to harvest. Now granted this time frame is a lot smaller than most PoS coins BUT the stake phase could yield a smaller percentage of coins to offset the shorter stake time of CANN.  Now an idea i had with the stake phase is something i dont think is out there yet.

Now if you are familiar with growing you know that you need to put harvests in cycles so you do not run out of medicine for your patients.  That being said i think that a holder of CANN should be able to allocate any number of coins to stake(aka growth period of a crop) as long as they hold the amount of coins of course and only being able to have multiple stakes dependent on how many coins said holder owns.  I honestly think this is one really good possible idea for longevity of CANN.  Again i understand it's way easier said than done but if all can be done properly i feel it would greatly benefit the future of CANN and its role with medical marijuana.


Thoughts? Concerns? Extra Ideas?

Criticism please, be honest!

Cheers SGT

I have to admit I am not a fan of staking. It is easy enough to implement and the cycle length is not particularly relevant - if you set staking at 1% annual inflation you get 1% annual inflation.

Staking tends to encourage coin hoarding - that's its purpose and is thus contrary to the desired situation discussed above where the concern is adequate liquidity, i.e. discouraging hoarding.

It also divides your community into stakers and non-stakers through simple practicality. Those with Android wallets are your most active user base and for CannabisCoin in particular are the target users, mmj patients trading CANN for CANNdy. Mobile wallets are lousy stakers to be honest and so you end up with the situation where coin hoarders are subsidized through staking while those we are trying to subsidize, mmj patients actually using CANN, are not because staking wallets chew up bandwidth and those struggling to pay for medications are unlikely to have huge data access plans.

My bottom line is: "What's in it for mmj patients?" and in this case all I can see is bigger data access bills for trivial recompense. For that reason I'll toss my hat in the ring now - I'm against PoS unless someone can demonstrate significant advantage for mmj patients.

That said SGT, I do like seeing you pondering the coin's future and proposing potential improvements

[Joint Force]

Please contact Dave McEnery Jr. (developer of TRON) about helping out HUGE! See this thread for more info.

https://bitcointalk.org/index.php?topic=1021029.msg11476144#msg11476144

[TrackCoin]

Unsual but awsome idea from Cannabis coin to involve into medical market, dispensaries, treatments and all of these...And is indeed easy to use, enabled internet digital currency with a strong effect on the instant payments. Might say have healing effect, as the therapy with the medical marijuana. 

[SGTxSTAYxGRIND]

The only way, and i mean the ONLY way this coin will flourish is if people actually take a chance in it and invest and adopt. By the end of the summer I plan to get CANN noticed and flowing in the PNW personally. This is the type of investment this coin needs, not monetary donation(although it always helps) but with donation of time and effort and educating those around you about the benefits of adopting a decentralized form of paying for medicine coin can and will go somewhere, maybe not quite the moon. But lets face it, moon weed would be pretty awesome.

To all the nay sayers: BAH! You know not the power of perseverance, we shall prevail.

Doubt Kills More Dreams Than Failure

[B4zz4]

Please contact Dave McEnery Jr. (developer of TRON) about helping out

I'm afraid Joint Force that I do not share your enthusiasm for associating CannabisCoin [CANN] with run-of-the-mill "weed coins".

CANN is unique in purpose. Rather than some vague "let's give a coin a marijuana name and make some money" aspiration CANN exists to facilitate getting medical marijuana to medical marijuana patients, preferably at subsidized rates. It is perfectly true that part of that facilitation involves a means of cashless electronic transactions so that dispensaries may operate safely, because it is part of getting mmj to patients. It is also true that delivering cashless electronic transaction ability for dispensaries is likely to deliver significant profit for early adopters of CANN, the "investor" segment, if you will.

CANN is backed by the 1:1 peg, the Yes We CANN movement's promise to supply approximately one gram of CANNdy medical marijuana for the cost of one CannabisCoin [CANN]. While it takes considerable time to establish legal grows and deliver the CANNdy supplies you will note that the Herbal Wellness Center has been honoring the peg since last October (I don't know but suspect they are donating product into the CANNdy inventory themselves during the long establishment period and nothing prevents other dispensaries doing likewise).

No other coin is focused on this charitable endeavor.

No other coin stands to deliver such extraordinary profit virtually as an accidental side-effect of charitable endeavor.

At risk of sounding like a coin snob I feel that associating CannabisCoin with "weed coins" significantly diminishes CannabisCoin.

CannabisCoin will flourish because DeltaNine is a man on a mission to deliver medical marijuana to those who need it.

I urge supporters to not yield to quick profit mentality. We will be told when crops are distributed and broader availability of CANNdy will deliver all the necessary promotion for CannabisCoin. Remember too that DeltaNine said recently "We are working on getting our partnership together here in Arizona to open up a dispensary with dedicated CANNdy supply and more.  It's not easy but we are moving forward and optimistic! Also the project with a Colorado-based MMJ company is moving forward as well and there is progress, will have more info. as we move closer to release."

Arizona is likely to go full recreational in 2016. Newly-established grows should begin yielding full crops in 2016. These facts are likely to deliver the cash flows necessary to underwrite large-scale donation of CANNdy inventory. Large-scale inventory is necessary for large-scale use of CannabisCoin.

Be patient and please, think carefully before tainting CANN by association with the "weed coins".