Obviously anyone holding cann WANTS for the peg to be 1 cann = 1 gram (including me), because obviously your coins would be worth 10 times less if the peg were 10 cann = 1 gram. However my fear is that let's say there were 10 dispensaries accepting cann in Colorado.....if that's the case, I think it's safe to assume that less than 1% of the coins will be used to actually buy mj and the rest will be bought for the sole purpose of trading.
That being the case, with so many millions of coins won't investors be constantly dumping their coins before the price gets anywhere near parity?
As I said, I am holding cann and I want this coin to succeed more than anyone, but I would just like to have a rational discussion about how a price of say $10/coin can be realistically sustained with so many coins on the market.
If someone can give me a reasonable argument as to how this might happen, I will be HAPPY to agree with them.
Looking forward to hearing the thoughts of others.
Topic: [ANN] CannabisCoin [CANN][X11][Official] Unmoderated General Discussions. - page 242. (Read 492677 times)
August 21, 2014, 05:56:03 AM
August 21, 2014, 05:48:38 AM
Has anyone tried to withdraw from c-cex recently?
I withdrew, got no coins and they are gone from my c-cex account. 2 days and no reply from support
I withdrew, got no coins and they are gone from my c-cex account. 2 days and no reply from support
August 21, 2014, 05:36:19 AM
I see there is a IRC channel for #CANN at irc.freenode.net
August 21, 2014, 05:13:44 AM
I've already shared my thoughts on the price pegging and agree with the 1:1 ratio. I also think it's something that has to be done for stability as Ared's post noted.
What I wanted to add is that most people keep talking about Arizona, Colorado, Washington, and now potentially Florida. The fact is, nearly half of the states already have medicinal laws in place, some a little looser than others, but the acceptance is growing fast. And this doesn't factor in anything international.
When you start thinking outside of a few states and then outside of a single country, you soon see that a 1:1 peg isn't out of the question at all and 420 million coins becomes quite rare in that big picture. CANN is young and breaking into an industry that has no nowhere to go but up, and we're all in for a helluva ride thanks to D9 and his team.
For more info on MMJ and other state laws, check out http://norml.org/states .
That's what i'm saying the whole time. This is right time for this coin as most of the states are preparing/have the new laws prepared and after that they will all need an payment processor so if we could offer them cann or if they will read about it themselves then i'd say there is 85%+ chance that they will accept it What I wanted to add is that most people keep talking about Arizona, Colorado, Washington, and now potentially Florida. The fact is, nearly half of the states already have medicinal laws in place, some a little looser than others, but the acceptance is growing fast. And this doesn't factor in anything international.
When you start thinking outside of a few states and then outside of a single country, you soon see that a 1:1 peg isn't out of the question at all and 420 million coins becomes quite rare in that big picture. CANN is young and breaking into an industry that has no nowhere to go but up, and we're all in for a helluva ride thanks to D9 and his team.
For more info on MMJ and other state laws, check out http://norml.org/states .
.The market of marijuana will be multi-bilion after it gets accepted everywhere. So why not 1b of market soloely for canncoin? It's just a kind of payment processor with some advantages.
August 21, 2014, 05:02:28 AM
I really recomomend everybody to listen and watch this classic video, as an inspiration and driver for the whole CANN community!
Afroman - Because I Got High
https://www.youtube.com/watch?v=WeYsTmIzjkw
Afroman - Because I Got High
https://www.youtube.com/watch?v=WeYsTmIzjkw
"I could have miner and got rich, but I got high"
"I could have traded and got a profit, but I got high"
"I don't have any coins left - and I know why - cuz I got high, cuz I got hiigh"
August 21, 2014, 05:00:04 AM
I really recomomend everybody to listen and watch this classic video, as an inspiration and driver for the whole CANN community!
Afroman - Because I Got High
https://www.youtube.com/watch?v=WeYsTmIzjkw
Afroman - Because I Got High
https://www.youtube.com/watch?v=WeYsTmIzjkw
August 20, 2014, 09:28:42 PM
I've already shared my thoughts on the price pegging and agree with the 1:1 ratio. I also think it's something that has to be done for stability as Ared's post noted.
What I wanted to add is that most people keep talking about Arizona, Colorado, Washington, and now potentially Florida. The fact is, nearly half of the states already have medicinal laws in place, some a little looser than others, but the acceptance is growing fast. And this doesn't factor in anything international.
When you start thinking outside of a few states and then outside of a single country, you soon see that a 1:1 peg isn't out of the question at all and 420 million coins becomes quite rare in that big picture. CANN is young and breaking into an industry that has no nowhere to go but up, and we're all in for a helluva ride thanks to D9 and his team.
For more info on MMJ and other state laws, check out http://norml.org/states .
What I wanted to add is that most people keep talking about Arizona, Colorado, Washington, and now potentially Florida. The fact is, nearly half of the states already have medicinal laws in place, some a little looser than others, but the acceptance is growing fast. And this doesn't factor in anything international.
When you start thinking outside of a few states and then outside of a single country, you soon see that a 1:1 peg isn't out of the question at all and 420 million coins becomes quite rare in that big picture. CANN is young and breaking into an industry that has no nowhere to go but up, and we're all in for a helluva ride thanks to D9 and his team.
For more info on MMJ and other state laws, check out http://norml.org/states .
August 20, 2014, 09:27:33 PM
I actually could see 1 cann per gram now that I think about it. It's going to be accepted for everything in the store from food to clothes to everything else they sell. So you go in, get your herb, maybe a cookie or two, pick up a few shirts and a hat, and a fridge magnet. I could see the need for market cap approaching the billion mark.
August 20, 2014, 08:11:15 PM
just hold on your coins ...
August 20, 2014, 07:01:21 PM
I thought I would share this link in for any other kiwis reading this thread... http://www.safer.org.nz/
This website makes it quick & easy to send emails to NZ Politicians asking "for your assistance in reforming our outdated cannabis laws".
With NZ elections coming up, now is the time to make your voice heard.
This website makes it quick & easy to send emails to NZ Politicians asking "for your assistance in reforming our outdated cannabis laws".
With NZ elections coming up, now is the time to make your voice heard.
August 20, 2014, 06:30:05 PM
August 20, 2014, 06:25:50 PM
Cannabis is LIMITLESS!
The same goes for CannabisCoin's future.
~DeltaNine
The same goes for CannabisCoin's future.
~DeltaNine
Questions: I have asked this several times: what is the CANN peg to. This is a very serious question that needs answers to. there is no point buying CANN if you peg it to 1,000 CANN to = 1g
An indication must be given as what you are trying to achieve with CANN. Please answer the question.
You have asked this question, and the devs have stated repeatedly that they will announce the peg value by Sept 1st. It was mentioned that the peg would either be 1 CANN = 1 gram or 10 CANN = 1 gram.
Even if they pegged it at 1000 CANN = 1 Gram. That still makes the coin worth around $0.017 hardly a "no point in buying" coin at current pricing.
My concerns are the fact that there is 75 Million? coins in circulation at this point in time. Hell I bought 230K of these in June when prices were %10 of what they are now. If they pegged 1 CANN to 1 Gram....I would be set in medicinal grade cannabis for a LONG time and very comfortable at 10 CANN per gram. How could that happen? Anything can happen in crypto currency systems.
I dont live in AZ, CO or a recreational state...I live in FL where we have it on the ballot in Nov for medicinal use. GO CANN!
August 20, 2014, 06:18:55 PM
August 20, 2014, 06:04:43 PM
August 20, 2014, 06:00:12 PM
Cannabis is LIMITLESS!
The same goes for CannabisCoin's future.
~DeltaNine
The same goes for CannabisCoin's future.
~DeltaNine
Questions: I have asked this several times: what is the CANN peg to. This is a very serious question that needs answers to. there is no point buying CANN if you peg it to 1,000 CANN to = 1g
An indication must be given as what you are trying to achieve with CANN. Please answer the question.
August 20, 2014, 05:16:40 PM
Cannabis is LIMITLESS!
The same goes for CannabisCoin's future.
~DeltaNine
The same goes for CannabisCoin's future.
~DeltaNine
August 20, 2014, 04:39:28 PM
I would love to hear the thoughts of the dev with regards to the question of whether it is feasible to have 1 cann equal 1 gram at $17 with such a large number of coins.
I'm sure they are discussing this very topic behind the scenes and I would love to hear their latest thinking on this issue.....
Love this coin!!!
I'm sure they are discussing this very topic behind the scenes and I would love to hear their latest thinking on this issue.....
Love this coin!!!
August 20, 2014, 03:59:34 PM
Hello
I see many people here talking about 1cann=1g . (8-12$)
I am just trying to put my head around this.
So right now there are around 75 million cann and there will be a maximum of 240 million in a total of 8.5 year.
So according to the above mentioned peg- you can exchange 1 cann for certain strain of cannabis worth 8-12 $
In this case the total market cap for 75 million cann is around 750 million USD !!
Isn't it way too unrealistic for a currency which is for a niche and has a very specific use (considering it gets adopted far and wide within in the industry)
I will wait for some one to shed some light.
May be cann needs some good economics help to get the peg right.
In any case best of luck to the devs and the cann community.
Why couldn't it be true? It's a currency that could solve alot of problems in this fresh and rocket-fast growing industry.I see many people here talking about 1cann=1g . (8-12$)
I am just trying to put my head around this.
So right now there are around 75 million cann and there will be a maximum of 240 million in a total of 8.5 year.
So according to the above mentioned peg- you can exchange 1 cann for certain strain of cannabis worth 8-12 $
In this case the total market cap for 75 million cann is around 750 million USD !!
Isn't it way too unrealistic for a currency which is for a niche and has a very specific use (considering it gets adopted far and wide within in the industry)
I will wait for some one to shed some light.
May be cann needs some good economics help to get the peg right.
In any case best of luck to the devs and the cann community.
Also anyone could accept cann as it's still a cryptocurrency that could be used for anything if your need is to cash out in $. Also cannabis is starting to be used recreation drug in few states in "legal" shops already.
And look on statistics how many people smoke weed
not sure if I understood correctly, but $750m market cap would be unrealistic for any coin right now except Bitcoin http://coinmarketcap.com/
August 20, 2014, 03:19:38 PM
Litecoin went from a $500 million market cap to over a $1 billion market cap in just a matter of a week or two and it was backed on nothing but hype. Anything in crypto is possible.
August 20, 2014, 02:51:51 PM
Hello
I see many people here talking about 1cann=1g . (8-12$)
I am just trying to put my head around this.
So right now there are around 75 million cann and there will be a maximum of 240 million in a total of 8.5 year.
So according to the above mentioned peg- you can exchange 1 cann for certain strain of cannabis worth 8-12 $
In this case the total market cap for 75 million cann is around 750 million USD !!
Isn't it way too unrealistic for a currency which is for a niche and has a very specific use (considering it gets adopted far and wide within in the industry)
I will wait for some one to shed some light.
May be cann needs some good economics help to get the peg right.
In any case best of luck to the devs and the cann community.
Why couldn't it be true? It's a currency that could solve alot of problems in this fresh and rocket-fast growing industry.I see many people here talking about 1cann=1g . (8-12$)
I am just trying to put my head around this.
So right now there are around 75 million cann and there will be a maximum of 240 million in a total of 8.5 year.
So according to the above mentioned peg- you can exchange 1 cann for certain strain of cannabis worth 8-12 $
In this case the total market cap for 75 million cann is around 750 million USD !!
Isn't it way too unrealistic for a currency which is for a niche and has a very specific use (considering it gets adopted far and wide within in the industry)
I will wait for some one to shed some light.
May be cann needs some good economics help to get the peg right.
In any case best of luck to the devs and the cann community.
Also anyone could accept cann as it's still a cryptocurrency that could be used for anything if your need is to cash out in $. Also cannabis is starting to be used recreation drug in few states in "legal" shops already.
And look on statistics how many people smoke weed
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