Topic: [ANN] CannabisCoin [CANN][X11][Official] Unmoderated General Discussions. - page 237. (Read 492677 times)

price is growing steady

Thx a lot !, It's always a pleasure and lots of fun with you guys

I vote for 1g of CANNdy = 0.00000001 CANN

Been following CANN for some time now, great coin, great community. New all time high on Bittrex 1500 sats. Yes we CANN !!!

what is the weed used for the comparison 10cann = 1g? every weed has a different price

From your post, it's obvious you are concerned about miners' dump and how do we sustain the price.

Well first of all, I believe that there are about 400k CANN mined per day, BUT only until Mid September 2014, whereby the mining reward will be reduced to 52.5 instead of the current 210, so about 100k CANN will be mined then, till 450 Million CANN and this will take approximately 8.5 years!!!... However, if you look at the daily volume recently, you don't see 400k volume per day other than the occasional 1 day volume spike probably caused by some whales that have just entered Cannabiscoin or may be looking to accumulate more of these cheap CANN!

So what does this tell you?

It simply says that NOT all CANN mined per day will be dumped. Yes, miners have bills to pay (e.g. electricity, hardware, etc), BUT some miners are speculative miners. They are mining CANN as an investment for mid to long term.
Speculative miners will not instant dump whatever they mined, they will HOLD! Yes, there are smarter miners these days unlike in the early days of BTC, besides Satoshi, most would just instant dump.

So why are some miners not instant dumping?

Easy answer! CannabisCoin is way undervalued, and I mean way way way way way x100 undervalued.
Why? Imagine the peg being announced as 10 Cann per Gram for being conservative in my example below, although I strongly feel 1 CANN per Gram is still the way to go and my hunch says dev will announce peg as 1 CANN per Gram.
Anyway, let's go with 10 CANN per Gram:

Assuming 1 gram of Medical Cannabis costs on average US$17 (This number is provided by CANN Dev), then @ 10 CANN per Gram, each CANN is roughly worth US$1.70

@$1.70, it is about 340,000 Satoshi vs current price of about 1,000 Satoshi (Hint: Potential 100x here, can't you see?)
@$1.00, it is about 200,000 Satoshi
@$0.10, it is about 20,000 Satoshi (Still decent 10x, if you managed to buy CANN below 2000 Satoshi)

So as you can see from above, the risk to reward is too good for speculative miners to simply instant dump CANN, not until CANN reaches close to parity which wouldn't happen overnight any way.
Therefore, by pegging @ 1 CANN per Gram, the Reward to HOLD since @ parity, 1 CANN is potentially worth US$17... I say, you won't have to worry about miners dump too much!

Tick-tock Tick-tock... Time is running out for cheap CANN!!! Remember ON or BEFORE 1st Sept 2014, the pegging announcement will be made.
Don't do last minute shopping please! This isn't X'mas shopping whereby retailers will drop price the day before X'mas!

 CANN is already approaching $500k market cap and it is still in very early stages,Due to he fact that people will be able to use CANN to purchase just about anything from the dispensaries not just Cannabis itself plus the fact that the Dev team are reaching out to other states to adopt CANN 1cann/g sounds very doable not to mention if it gets adopted by other countries as well all in good time

 My 2 CANNS  

 As the Devs said and i totally agree ..CANN is limitless

But that's verry hard..
Here is an ''WHAT IF'' :
What if this coin get verry populair and all people are gonna use it for buy goods in those shops, the price will automaticly rise up. What means people have to pay more for cannabiscoins.
You can not say, 1 cannabis coin is 1 dollar, because the price will only get higher when it's getting more populaire.
What means u will start with 10 cann is 1 gram, it can be that 2 years later 0.0001 cannabiscoin is 1 gram ( if u handle the same fiat / dollar / euro price )

If i buy now 1 million cannabis coins, the price will rise directly for other people. I  or the dev's can do nothing about the rising prices for the coins.

So the only thing u can do is be fair, when price for 1 coin is rising, u ask less for 1 gram. When price is dropping u ask more cann coins for 1 gram..

Same is as in my country we can order pizza's for a long time now with Bitcoin, when 1 bitcoin was something like 20 dollar, 1 pizza was 0.3BTC ( like 6/8 euro ). That was the first thing i bought with my mined bitcoins. If i look now the price, i payed like 180 euro for 1 pizza . If that shops still ask 0.3 BTC for 1 pizza, nobody will buy that pizza.

So the prices keep changing due to the marketprice. But that's a good thing!

But yeah the prices u give 10cann = 1 gram.. We have to start somewhere dont we? So that's good

I have thought about this quite a lot, I still think 10 CANN/g is the best peg in the current crypto economy. 1 CANN I think will be too ambitious, it won't be able to hit nor sustain parity and all the scam accusations will come flying.

10 CANN/g put the current coin count under $100m market cap, which can be sustainable. The simple fact is the crypto sphere is not large enough yet, let alone the altcoin sphere, let alone the altcoin sphere interested in Cannabis to sustain anything over $100M cap due to miner dumps. Logic would dictate that if it was "valued" at ~$15 per cann people wouldn't sell for much less, miners will. There needs to be enough people buying PER DAY to counteract miners and traders selling for a profit, and there isn't enough money in altcoins to do so. The ambitious nature of 1 CANN/g might bring more customers in obviously, I still don't think it will be enough.

For those wanting a profit from holding, 10 CANN/g is still 100x roughly from here, and about 5000x from the starting price.

Voting for 10 CANN/g, just saying

Hey speaking of that, the dispensaries should sell ink for cann also.

Hmm... 

Socosavvy you are genius.

I have to run to the dispensary tonight honey, does the printer have ink? 

I should note I'm not debating Bitcoins success with acceptance. The main reason I think paper wallets are so important to cannabis coin is the simple fact most of the transactions are going to be point of sale. A paper wallet button on the wallet software would be very useful and move it from nerdy to real world application in an instant.

So simple yet so genius, is there any wallet for any coin with that functionality?

I definitely think the key to making CANN successful is to build a whole ecosystem around it. Also CANN could greatly benefit Bitcoin because by having paper wallets or pryptocards with CANN, it's an easy entrypoint for fiat to find its way into the crypto economy. The more "gateways" for real world money to change to crypto without big exchanges like coinbase that are a hassle to deal with the better.

Know what would be useful? A wallet with functionality to print paper wallets built in. Especially for Cannabis coin since it already has real world acceptance.
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+1

Know what would be useful? A wallet with functionality to print paper wallets built in. Especially for Cannabis coin since it already has real world acceptance.

 

Never fear...
I will have a recipe on HomeBake420.com to make your own Cannabis infused fizzy drink...
Both alcoholic & non-alcohic versions...
(Alcoholic) Cannabis infused Ginger Water Kefir.... Good, Easy & Quick...

Almost got the recipe up last weekend.... But I got high sampled too much & got a creative burst.

DeltaNine has introduced his Brother "GreenNinja" / "ChinoGreen'  Depends on where you have met him.

They were both in San Diego over the weekend having MMJ talks with other business owners in the area.



BOTH MMJ patients, advocates, Devs

Hello Everyone,

We are currently discussing the planned wallet update that we will be releasing soon. Also discussing effective way to execute and make it a smooth transition for everyone.

DeltaNine has made some progress in San Diego over the weekend and will fill in some more information soon.


~Dev Team

The only issue I see with parity, is the existing coins mined. That and the lack of coin value at this moment in time. Now if it were to grow a couple thousand percent then peg....no issues.