Topic: [ANN] CannabisCoin [CANN][X11][Official] Unmoderated General Discussions. - page 127. (Read 492677 times)

-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.

Assuming cann is already at pegged value and stable, what would your objections be?

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...

I have 100 coins from a giveaway unconfirmed been sitting in wallet since April and the TXID is not on the block chain explorer, did I miss some exchange of coins or something?

I'm on the latest wallet 0.8.6.3 and wallet is synced

Status: 0/unconfirmed
Date: 21/04/2014 07:50
Credit: 100.00 CANN
Net amount: +100.00 CANN
Transaction ID: 46060387f07423ecb36828cc78183254c468315c582ccb4b06f0d86a7ea59eba

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.

Waiting for the Cannabiscoin devs to get in here!

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.

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.

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.

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

must be frustrating

over 3,000 coins. I went from windows to linux so i had to wipe the HD clean and partition it for Linux

I'd wait for the CANN devs to respond to you.
DON'T let us influence your decision.

Get in here D9!

That doesn't answer my question of why I should accept CANN if I am a dispensary owner.

indeed, that would be unprecedented growth. also un likely imo off of one store. Good to see it rising tho!

I don't see any special value there.  There are countless strains at this point.  If I own a dispensary and have a ton of business, there's no reason for me to bring in a new strain that I have to sell at a loss initially.  Unless someone can point out what I'm missing.

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/

CANN is a global movement. The chances of another coin being able to mimic the success of CANN is slim.
A new coin with bigger dispensery chains? Unlikely, and only possible if it were started by a Government.

That being said, Cannabiscoin is becoming a standard in Cryptocurrency payments.

If a dispensery were to accept CANN, they would want to sell CANNdy and other cannabiscoin products.
Selling their OWN product for CANN is risky at this point, but the benefits will always outweigh the risks.

Cannabiscoin is for patients, not profits.
Patience, patients.
Patients, Patience!

In case you all wondering how CANN price will go much higher, just think about CANN be decoupled from BTC value and will have a direct fiat value.

View BTC as just another option to buy CANN coins with on the 20th October.

The Canndy strand will only be sold for CANN Coins.

Dope and other coins are not doping the history..cann is doing the history..if you see bitcoin,they're come first...see the value Now..traslate to cann...they're first...so..if you want to buy something that got value,come on cann world,if not,buy dope and pray for your money  

That's what I'm trying to understand.  What value CANN brings to other dispensaries.  With one dispensary accepting CANN, the supply AND demand won't be there despite the psychological peg.  If someone can share with me what I'm missing, I'm ready to invest heavily as I love the idea. 

Riding the coattails of the almighty CANN.