To be honest... I'm not surprised you guys are annoyed that people bring up the difficult issues surrounding crypto.
These are real issues that should be addressed. These are issues that our team discussed with CANN to address together. It's what we take into account while we build CannaPay. The issue of money transmitting licenses and FinCEN regulations.
You guys think you can just go sell CANN for cash in a retail business? I highly recommend you contact Coinbase, ProjectSkyhook ATMs, or any other business that is involved in USD <---> BTC transactions
http://www.theverge.com/2014/2/7/5390782/three-bitcoin-traders-arrested-in-florida-on-money-laundering-charges
Read what I write and stop reacting emotionally.
Topic: [ANN] CannabisCoin [CANN][X11][Official] Unmoderated General Discussions. - page 205. (Read 492677 times)
September 07, 2014, 04:44:00 PM
September 07, 2014, 04:36:07 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
You've been going fine, but now you've stepped into the realm of the blatantly not true.
There's nothing about accepting crypto as a merchant that makes your a money transmitter.
I never said accepting crypto is illegal... I said that a business that goes into exchanging USD for crypto requires a money transmitter license.
*edit* You are right, I mispoke. I meant that if you exchange USD for Crypto you can be considered a money transmitter.
September 07, 2014, 04:33:52 PM
I would be cool if CANN had physical backup like dollars and shit, I mean instead of pile of gold bars, then a massive house full of weed, and then 1 gram = 1 cann, awesome shit 
Did you read this topic? It is backuped by cannabis that's currently in growth stage.
and dollar isn't backed by gold bars
Srsly gtfo.
FACT: In 1943 the Federal Reserve stopped backing the dollar with gold. Google it and quit talking out of your ass.
September 07, 2014, 04:09:11 PM
I would be cool if CANN had physical backup like dollars and shit, I mean instead of pile of gold bars, then a massive house full of weed, and then 1 gram = 1 cann, awesome shit
Did you read this topic? It is backuped by cannabis that's currently in growth stage.and dollar isn't backed by gold bars
Srsly gtfo.
September 07, 2014, 03:59:28 PM
I would be cool if CANN had physical backup like dollars and shit, I mean instead of pile of gold bars, then a massive house full of weed, and then 1 gram = 1 cann, awesome shit
Did you read this topic? It is backuped by cannabis that's currently in growth stage.and dollar isn't backed by gold bars
Srsly gtfo.
September 07, 2014, 03:49:08 PM
I would be cool if CANN had physical backup like dollars and shit, I mean instead of pile of gold bars, then a massive house full of weed, and then 1 gram = 1 cann, awesome shit
Did you read this topic? It is backuped by cannabis that's currently in growth stage.and dollar isn't backed by gold bars
September 07, 2014, 03:48:03 PM
I would be cool if CANN had physical backup like dollars and shit, I mean instead of pile of gold bars, then a massive house full of weed, and then 1 gram = 1 cann, awesome shit
Did you read this topic? It is backuped by cannabis that's currently in growth stage.and dollar isn't backed by gold bars
September 07, 2014, 03:45:37 PM
I would be cool if CANN had physical backup like dollars and shit, I mean instead of pile of gold bars, then a massive house full of weed, and then 1 gram = 1 cann, awesome shit
Did you read this topic? It is backuped by cannabis that's currently in growth stage. September 07, 2014, 03:43:35 PM
I would be cool if CANN had physical backup like dollars and shit, I mean instead of pile of gold bars, then a massive house full of weed, and then 1 gram = 1 cann, awesome shit
Did you read this topic? It is backuped by cannabis that's currently in growth stage. September 07, 2014, 03:37:48 PM
I would be cool if CANN had physical backup like dollars and shit, I mean instead of pile of gold bars, then a massive house full of weed, and then 1 gram = 1 cann, awesome shit
September 07, 2014, 02:57:15 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
There are already tons of shops in America that accept crypto as payment.
http://www.bitcoinvalues.net/who-accepts-bitcoins-payment-companies-stores-take-bitcoins.html
Call me paranoid, but your posts are sounding a little bit negative toward cannabiscoin lately.
Am I wrong here?
I agree, it will be the exact same thing as bitcoin. So this should be the same way for Cann. Why would cann be a money transmitter when bitcoin is not, unless your taking about the exchanges that have fiat to btc. I really dont see a problem here.
This ^^
September 07, 2014, 02:26:26 PM
we don't need netherlands laws, only us lawyers can be useful and please don't listen sushichef, he is only a troll
September 07, 2014, 02:13:15 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
Then you are both wrong...money transmitter...that's laughable. The feds have nothing to do with Cann regulations or finance of that particular industry.
What we need is a lawyer to clarify the laws for us. Does anyone know a lawyer who can look into this for us?
Yeah some of my friends have a firm here in the Netherlands.
Could you have them look into the laws about this, so all these haters will stop freaking out and post negative stuff on here. Please and thank you sir!!
I just dont see what the big deal is, i mean if stores can use bitcoins then we should be able to do the same with Cann Coins. Right?
September 07, 2014, 02:07:53 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
Then you are both wrong...money transmitter...that's laughable. The feds have nothing to do with Cann regulations or finance of that particular industry.
What we need is a lawyer to clarify the laws for us. Does anyone know a lawyer who can look into this for us?
Yeah some of my friends have a firm here in the Netherlands.
September 07, 2014, 01:57:56 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
Then you are both wrong...money transmitter...that's laughable. The feds have nothing to do with Cann regulations or finance of that particular industry.
What we need is a lawyer to clarify the laws for us. Does anyone know a lawyer who can look into this for us?
September 07, 2014, 01:53:49 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
Then you are both wrong...money transmitter...that's laughable. The feds have nothing to do with Cann regulations or finance of that particular industry.
September 07, 2014, 01:46:54 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
There are already tons of shops in America that accept crypto as payment.
http://www.bitcoinvalues.net/who-accepts-bitcoins-payment-companies-stores-take-bitcoins.html
Call me paranoid, but your posts are sounding a little bit negative toward cannabiscoin lately.
Am I wrong here?
I agree, it will be the exact same thing as bitcoin. So this should be the same way for Cann. Why would cann be a money transmitter when bitcoin is not, unless your taking about the exchanges that have fiat to btc. I really dont see a problem here.
September 07, 2014, 01:44:37 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
There are already tons of shops in America that accept crypto as payment.
http://www.bitcoinvalues.net/who-accepts-bitcoins-payment-companies-stores-take-bitcoins.html
Call me paranoid, but your posts are sounding a little bit negative toward cannabiscoin lately.
Am I wrong here?
I agree, it will be the exact same thing as bitcoin. So this should be the same way for Cann. Why would cann be a money transmitter when bitcoin is not, unless your taking about the exchanges that have fiat to btc. I really dont see a problem here.
September 07, 2014, 01:03:40 PM
Questions are not really answered here! Have been following the thread since I was attacked here. Only thing that happend where more pics and buzzwords. Yeah a coin dev was found. That is great and should settle the technical coin side. But still the peg. is what makes this coin "special" and more then once there were questions raised about it. Never a clear answer is given and all criticism about it is labeled as FUD etc
You got called an empty talker, which turned out to be 100% true.
Nothing but a gas bag full of big talk.
September 07, 2014, 01:02:29 PM
I called Nick, the original Potcoin dev two weeks ago and we discussed this very issue. The Potcoin team is well aware of the legal issues surrounding crypto and River Rock dispensary in Colorado is taking a very cautionary approach to accepting cryptocurrencies for Cannabis. Once you start accepting crypto for Cannabis in a retail business, you are putting yourself under Federal jurisdiction as a money transmitter.
You've been going fine, but now you've stepped into the realm of the blatantly not true.
There's nothing about accepting crypto as a merchant that makes your a money transmitter.
Jump to: