Should The Marijuana Industry Embrace Bitcoin?

[traderman]

I would say it would be a match made in heaven.

http://www.btcfeed.net/news/marijuana-industry-embrace-bitcoin/

[Hazir]

For many people marijuana=crime. Places where marijuana is legal are very rare. So I would be very cautious in connecting these two things. For average Joe who does not have clue about bitcoin it would be very easy to connect shady substances with illegal sources of money etc. What can lead to bad press for bitcoin...

[TheDreadPirateDickstein]

From what I hear it already has

[Bit_Happy]

Legal shops are having trouble getting bank accounts due to uncertainty about Federal law. As the number of states with legal pot climbs there is a huge need to process and store large amounts of money.

[dopecoindude]

We are ready to take over the world meet the dopecoin team! 

Ok, ok ...maybe , not the world but close to it , ya ?

[traderman]

There has been so much bad press already with the silk road I don't think a bunch of medical dispensaries accepting Bitcoin would do any damage, quite the opposite I would argue.

For many people marijuana=crime. Places where marijuana is legal are very rare. So I would be very cautious in connecting these two things. For average Joe who does not have clue about bitcoin it would be very easy to connect shady substances with illegal sources of money etc. What can lead to bad press for bitcoin...

[redsn0w]

If a nation put something illegal doesn't  "always" mean that thing is bad or not good, however if the marijuana industry embrace bitcoin it is their choice and we can't stop them.

[Netnox]

For many people marijuana=crime. Places where marijuana is legal are very rare. So I would be very cautious in connecting these two things. For average Joe who does not have clue about bitcoin it would be very easy to connect shady substances with illegal sources of money etc. What can lead to bad press for bitcoin...

In the Netherlands buying marijuana is like buying food at Mcdonalds. If one of them accepts bitcoin it would be worldwide news.

[Bit_Happy]

In the USA, the lack of banking services leaves too much cash around:

"Everyone in the industry is having nightmares,” says Michael Elliott, executive director of the Marijuana Industry Group, a powerful young lobby in Colorado. “You hit a 7-Eleven, you’ll get 20 bucks. You hit a dispensary, you’ll get $300,000 on a good day,” adds Mitch Morrissey, District Attorney for Denver. “It’s only a matter of time before someone gets shot."
http://www.nbcnews.com/storyline/legal-pot/high-crimes-robber-gangs-terrorize-colorado-pot-shops-n20111

Hopefully, the shops can afford armed security to fight off the thieves.

[Swordsoffreedom]

Legal shops are having trouble getting bank accounts due to uncertainty about Federal law. As the number of states with legal pot climbs there is a huge need to process and store large amounts of money.

True enough their is a market for a stable enough quick means of moving capital around
This could be done through bitcoin
More selling pressure though so hope someone holds their coins
(Does build the infrastructure base as well though)

[pedrog]

I think all industries should embrace bitcoin.

[countryfree]

No! BTC's already suffering from having an image sometimes associated with terrorism, drugs, and various kinds of illegal or immoral activities. If we want it to go mainstream, it's got to get a cleaner image. How about BTC to finance charities which help orphans and widows? That would be better.

[IronMarvel]

No! BTC's already suffering from having an image sometimes associated with terrorism, drugs, and various kinds of illegal or immoral activities. If we want it to go mainstream, it's got to get a cleaner image. How about BTC to finance charities which help orphans and widows? That would be better.

+1
Many people already associate bitcoin with drugs... Easy target for media... bad bad bitcoin... 

[bitwarrior]

For many people marijuana=crime. Places where marijuana is legal are very rare. So I would be very cautious in connecting these two things. For average Joe who does not have clue about bitcoin it would be very easy to connect shady substances with illegal sources of money etc. What can lead to bad press for bitcoin...

In the Netherlands buying marijuana is like buying food at Mcdonalds. If one of them accepts bitcoin it would be worldwide news.

I agree on this. Maybe the Bitcoin Market and the Marijuana Industry could help each other out in a great deal once MJ embraces bitcoin.

[Beliathon]

Cui bono?

[MichaelBliss]

Every industry should embrace Bitcoin.  Including but not limited to the marijuana industry.

[bf4btc]

Of course it should imo all industry's across the board should then we will truly have mass adoption.

Plus dispensaries in the US deal with alot of cash which can only help Bitcoin in the long run, i followed POT coin a little and they are in the process of trying to do it the legal way and should set the way for Bitcoin unless BTC manages to get the go ahead sooner.

Either way it is good stuff imo

[nextblast]

It definately will. I'm confident any market that's in shady areas, like adult video, weapon purchase... will seek the help of Bitcoin.

[Honeybooboo]

For many people marijuana=crime.

What's criminal about the legal marijuana industry? It's a billion dollar industry in the USA alone and cannabis legalization is slowly spreading worldwide.

So I would be very cautious in connecting these two things. For average Joe who does not have clue about bitcoin it would be very easy to connect shady substances with illegal sources of money etc. What can lead to bad press for bitcoin...

Let them think that. Bitcoin is a currency and you should be able to buy what you want with it.

[Bitcoinexp]

So I would be very cautious in connecting these two things. For average Joe who does not have clue about bitcoin it would be very easy to connect shady substances with illegal sources of money etc. What can lead to bad press for bitcoin...

Let them think that. Bitcoin is a currency and you should be able to buy what you want with it.

But this would cause people who are not entirely aware of bitcoin's use to steer clear of it and prevent the mass adoption that we are trying to reach.