Topic: [ANN] CannabisCoin [CANN][X11][Official] Unmoderated General Discussions. - page 243. (Read 492677 times)

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.

Still illegal here mostly too but its just so easy to grow in BC so its cheap. I'd be OK with seeing it at $12/g for cann

hi everyone, my first post here but ive been on CANN since it wasnt long out and boy its growing faster than weed itself lol.
if this 1g to 1 CANN will happen in the future i think now is the best time to invest some of your btc in CANN, why not? just think of all them shitcoins you have bought and lost btc's, with CANN your investment will only grow, literally lol.
last few words,
people bought btc for pennies maybe 4 years ago, now fast forward a few years from now and where will CANN be??? this is goin to be interesting  

I am so impressed with cann. Of course there have been others like this and tried, but most tried to capitalize on a product , not a service. I really think this might be a great adventure for the community , the buyers and sellers and of course the recipients of discounted medical products with the Cann brand or services. If the dev makes a quality product for people that use or need it, who know where this could go.

In Australia it's illegal, that's why such high price, if Candy will be selling 17$ per 1g or 1cann, market price for 1 cann should be stable between 8-12 usd

Hah yeah I figured it was something along those lines. Too bad man. North American average is definitely between 8-12.

welcome to Australia $20-$25 average

1 cann = 1g would be nice.

if 1cann=1g then 10-12$ is fair price for one cann I think

There's a discount using cann so sayith the devs, so take that into account also.

Whoa, hold on now. $20 average? $8-12 is average per gram, anywhere charging $20 is absolutely ripping people off.
Maybe east coast in places without medical laws it'd be like that but this is not the black market.

1gram of Cannabis averaging around $20
so it will appear the 1Cann will = 1gm

So in lamen terms you are saying there could possibly be a set price for cann in the future, am I right?  I just did the math in my head and I think I'll sleep easy tonight.

I agree with the below comments. There are too many coins that actual claim to make transaction faster??? that actually serve no point.  the crypto currency is a "currency", it must be backed by something to give stability, hence pegging to a quantity of marijuana.  The marijuana industry is a multi million dollar industry in US and North America. It is growing faster around the world.
http://www.theglobeandmail.com/report-on-business/high-hopes-investors-take-aim-at-canadas-marijuana-industry/article20085181/


Some people are just not understanding the purpose of peg in the first place.

This is what a peg will achieve:
1. Stability - No more wild fluctuations associated with many crypto currencies out there.
2. Value - Your CannabisCoin WILL definitely be worth more than it is now once the peg is announced. The less CannabisCoin required per gram, the more valuable your CannabisCoin, hence why 1 CannabisCoin per Gram is the best outcome!
3. Incentive - Assuming if you pay in cash per gram is US$17, the truth is, CannabisCoin will unlikely reach parity... So most likely a CannabisCoin will float at around US$10 to US$12 stable, the price discount will be significant enough to encourage even Non-Crypto users to learn and find out how to purchase CannabisCoin as a result.
4. Hoarding - Since there will be stability as a result of a peg, and because there is real exchange for goods (e.g. Cannabis, etc) of material value to a user especially if you are in need of Cannabis for medical reasons, many will choose to hoard and hold their CannabisCoin since the value supposedly won't drop by half overnight, as the exchange of 1 CannabisCoin per Gram still holds true, despite fluctuations in Bitcoin prices.

Whereas, when comparing to other "faith-backed" coins out there, more often than not, unfortunately faith do die out over time... And as a result, the faith-backed coins you are holding will be devalued to zero.

So this is where Cann Devs want to make a difference, NO MORE SHITCOINS!

Only asset-backed coins like CannabisCoin will be for the long-term!
https://bitcointalksearch.org/topic/m.8423852
"ared"

Good for you mate!  And Thanks!  That's how great things are built.  YES WE CANN!

I would like to hear the thoughts of others on this, but I'm thinking that before you go public with the peg, it might be a good idea to first draw up a "Cannabiscoin Protocol" which would be a legally binding agreement that would be signed by all participating dispensaries guaranteeing that they will agree to sell X amount of cannabis for X amount of cannabiscoins. Similar to the URO protocol:

http://uro.io/Uro%20Protocol%20CCL%20Pillay%20Instrument%20of%20Ratification%20June%202014%20JPG90.jpg

You could have it drawn up by a lawyer (obviously) and it would have way more authority than simply declaring that you and the other dispensaries will accept x amount of cannabis in exchange for x amount of cann.

Of course it would be a risk because it would mean that you and the other dispensaries would be legally bound for x many years to honor the agreement, but it would also instill exactly the kind of confidence needed to make this coin go to parity.

As I said, I would be interested to hear the thoughts of others, but those are my thoughts.

As a side note, to say I am excited about this coin would be the understatement of the year!!

Also, it occurs to me that what I just wrote is probably pathetically obvious to the dev. I just figured in the .00001% chance that it hadn't been thought of I should go ahead and put it out there. Please forgive me if I just insulted anyone's intelligence with this post.

Awesome progress! Love this coin

This is very good idea in my opinion. "Prepaid/prefilled" paper wallets for example....that would be cool


They will.

I think that Dispensaries should sell prepaid cann cards, to make buying process easy as much as it possible, also what about if dispensaries will sell cann directly to customer?  To get parity 1cann=15usd we need 1 billion marketcap, maybe I am crazy but I think it's real with current situation with banks,world cannabis industry and demand.