I believe we'll see CannabisCoin in the news a lot between October 2014 - April 2015.
CannabisCoin will be the first Cryptocurrency to be widely accepted on the same level as Bitcoin. In a way, CannabisCoin will be more popular than Bitcoin.
This is an entirely different category of Cryptocurrency. CANN isn't here to compete with Bitcoin.
CANN is here to create the "Marijuana Coin-for-weed" Exchange on an enormous scale. I'm talking Mainstream level.
It'll be referred to people as "weedcoins" or "potcoins".
This brand new Exchange is going to be created by CANN when it is officially utilized by Marijuana Shops.
It'll be a big website. As I mentioned, something needs to be created to make it easy for customers to easily obtain CannabisCoins.
This is where the Exchange starts. It'll be simple. You buy your Coin by choice, where CannabisCoin completely dominates.
For example, customers will have the choice between a few different weed-related coins on the market. Each coin for a certain price and easily obtainable through Bitcoin, Credit Cards, Paypal, etc.
1. CannabisCoin
2. Cannacoin
3. POTcoin
Other coins will eventually follow suit. Vouchers for CannabisCoin will be popular during the months of December and April.
CannabisCoin is the current innovator for the public "Marijuana Coin" market which I expect to be more popular than Bitcoin.
Once the news reports on it and once shops start utilizing it, it'll become mainstream pretty quickly.
I agree with everything you said, except the examples given.
1. I think there will be
NO competition for CannabisCoin for the short-term UNLESS, others can be asset-backed by Cannabis. But it will be hard to COPY what CannabisCoin has achieved, as
CannabisCoin will be the Gold-Standard!!!2. Cannacoin is not a Cannabis-related coin. It is just another Alt-coin, out of many hundreds out there.
3. Potcoin is a Cannabis-related coin. However,
Potcoin is NOT asset-backed by Cannabis. Yes, there may be several dispensaries accepting Potcoin as payment, BUT do bear in mind that since Potcoin is tied to Bitcoin, if the value of Bitcoin drops overnight, the price of the
Cannabis in those dispensaries accepting payment in Potcoin will also go up. Similarly, if Potcoin value drops overnight, the price in Potcoin for the same strain that may cost 10000 Potcoin yesterday, will cost higher, maybe 12000 Potcoin today. In short, very volatile!
However, by using CannabisCoin, since the Peg is
1 Cann per Gram, you
NEVER need to worry about volatility.
Past, Present and Future, the same strain that is pegged 1:1, will ALWAYS cost the same, simply 1 Cann per Gram. Hence, wiping out any volatility.
First Transaction is definitely round the corner. And when that happens and it is covered by big news agency (e.g. CNN), EXPECT the price of CannabisCoin to sky rocket because patients who need Cannabis but have never heard of CannabisCoin as they were never
involved with crypto in the first place, will definitely
RUSH to buy as many CannabisCoin. Hopefully, there will be a CANN/USD exchange ready for that day!
Imagine... Black Friday!!!http://i.imgur.com/FMQCCvR.jpg