I'm still working on a shop selling hemp products to our, and especially other crypto communities (logo'ed). I have producers, suppliers, wholesalers and site in place. My stumbling block is I have no cash/liquidity and not a lot of Hempcoin, but I believe in hemp, wear hemp clothes, and used to mine. I also have time at my disposal as have no job but care for kids at home. Now the price is low I was wondering if a bounty could be enabled to help me set up. I would initially open with a few desirable products, t-shirts/bags/caps but have a vast range at my disposal. Payments would be taken in Hempcoin/btc/fiat.
Anyone any thoughts or can help?
I have background in marketing and online retail setup (oscommerce).
I've been buying coins between 35 to 55. Although this is a cheap price, there aren't many coins for sale. I only get about 30,000 to 50,000 coins a day at those prices. There's other people who are also trying to get coins at those prices. I can donate some coins. Maybe 100,000 THC. If these prices stay low for a long time then I can donate more.
My thoughts are that you have to get the merchandise for as cheap as possible so that you can sell it at a +50% discount at today's THC prices. I would love to see products like hemp protein, oil, milk or cereal. You could then only accept THC. Maybe you can get a "test sample" batch of 20 bottles from the wholesaler ("test sample" is a good way to get cheap and small orders off alibaba.com if anyone is interested). Say hemp protein in the store costs $20. What you then do is go $20 will buy 140,000 THC at 40 satoshi. You then temporarily set the price of those 20 bottles of hemp protein at 50,000 THC each = 65% off. Groupon style limited supply. If the price of THC goes up to 200 satoshi after you sell out -> you then easily sold your entire supply for $40 a bottle.
I'm not sure how that model works out long term once the price is too high to double and triple. At that point I think a standard peg is used and the coin becomes what it was first meant to be. A coin that is used by hemp industry to securely and instantly transfer funds with almost 0 fees.
I have used this open source drupal plugin before:
https://www.drupal.org/project/opendealsI used it like over a year ago so maybe there is something better out there to use now. It was a good when I used it. Of course it doesn't have the built in THC merchant API payment through c-cex to accept THC as payment.
What's going on right now is people are working for free to support hempcoin. Most of it is computer skills and social networking. It would be really cool if u could operate a hempcoin ecommerce store for free to support hempcoin. Get products as cheap as possible and sell them for little to no profit.