Topic: Cannabis and Bitcoin (Read 193 times)

It's funny to see how the discussion was going with the post. Here I saw that this post gave the recipes how trade day and night using the cannabis, how to use cryptocurrency for criminal purposes, etc.))Actually the post mentioned cannabis only at the very beginning to emphasize the breakthrough approach of the monetary authorities of Canada, which are free from stereotypes. At the same time, the main idea of the post was a potential inflow of liquidity, which will be provoked by the institutional investors who will come to this market through such a product. Now it is not easy to estimate the volume of the inflow, but it is obvious that fresh money with long only strategy can become a good trigger for a straight shoot for an exit from the current range trading. I'm sure that the US colleagues will not be so mobile to allow such instruments for institutions, but nevertheless, it can also act as a good catalyst for their positive decision.

I will quote him, he is not funny, he is sad! I can't believe what he wrote, where did he get all of that!

You really need to try to smoke some weed and relax, looks like you really need that. Open your mind for new things, and never judge about something you don't know nothing about.
I don't know do I need to explain anything to ignorant person like this guy is, they will not understand anyway, it's just a lost time.
Bitcoin wouldn't be a currency if you can't buy anything with it. Bitcoin is not connected with weed industry, but in past year we have many projects that are. One of them is potcoin, the most interesting for me. But who wish to make a deeper research will find more similar things. And report this guy please, he needs to learn about something before he start to comment that.

I’m just laughing because someone commented that most Bitcoin users are dealing on drugs that’s why they also choose cannabis. It isn’t most Bitcoin users but some of them, saying most of them makes it seem like the community is a very bad one, don’t give us a bad reputation here cause there are people who are genuinely working their ass off just make good money. There are also the bad guys in everything, but whatever, you just need to look on the bright side.

That is the preferred format for some.

Although there could be conditions where it may not be ideal(of course). 

Insurance is a concern. Many banks in the US have FDIC insurance which covers up to around $100,000 per account. If the investment firm holding your bitcoins is ever robbed, compromised or hacked as is becoming increasingly common these days--that insurance could be a major concern.

The second concern is stability and reliability. People generally think of banks and investment firms as being immune to bankruptcy. However it might be worth noting that should the bank or investment firm holding your BTC ever go bankrupt it could greatly decrease your chances of recovering your holdings. And so liquidity and stability of those holding your assets may be worth taking note of.

Watch out. Clickbait threads sometimes get deleted. It's better to keep posting and hope that it catches the eye of someone interested in these things than trying to mislead people into posting some unrelated shit (like that guy above).
I bet most people who saw your previous thread thought: "Fuck it, TLDR"
I actually agree with your opinion about emerging markets, although Tom Lee is a blind permabull that can't see a downtrend even when it drags on for 8 months.

You are right. I tried to get attention to the article. Users are not interested in intelligent financial articles. Read the first reply in this topic.
For example, my post about correlation with EM markets has zero replies  It's a important indicator for forecasting bitcoin price.

P.S. I'll never get merit points here

Maybe i'm blind, but I can't find any relation between this article and cannabis, nor the word cannabis being mentioned there.
Funny that Canada is launching a fund without problems, but it's so hard to push the same thing through the US regulators. Maybe US regulators struck a deal with banks to delay as long as possible? I think it's a great moment for these trusts to launch because we're deep into bear market. We may never see these prices again.

I think some of the bitcoin users are using cannabis because they want to sleep late. They use cannabis because I think their posting maybe rush. So they use cannabis to sleep late to work or post in their campaign. Also I think maybe some bitcoin users are dealing drugs.

It seems that Canada has decided to take all the credits of the pioneer in the creation of investment products for the 21st century.
First, there were companies that somehow worked with cannabis. For the first time, they were listed on the stock market and got liquidity in Canada, and now there is even an ETF for this (another one, though, is traded in the US, but the Canadian is "cleaner"). The sector is booming and has excellent prospects, but it is not what we are talking about right now 

Also, couple days ago there was the news that First Block Capital received the status of the mutual fund trust in the Canadian District of British Columbia for its flagship "FBC Bitcoin Trust", which is now distributed through the Neo Connect stock market along with traditional funds of such a giant as Invesco. The fund is on the platform now, and one of the main advantages of it is daily liquidity (not 30-day, as before). Moreover, such a status of an investment product (even if it is not listed on the stock market) allows Canadian private investors (so far only qualified ones) to buy it for their individual retirement accounts (IRAs) and savings accounts, including the tax-privileged ones.

Here is the link: https://www.businesswire.com/news/home/20180910005151/en/Canada's-Regulated-Bitcoin-Fund-Eligible-Accredited-Investor

This is the ideal solution for most clients of asset management companies who want to get exposure to bitcoin but do not want to go into direct purchase and storage of cryptocurrencies. It is very typical for conservative investors who are backward-looking and do not want to deal with new stories, but also do not want to miss the opportunity to make money on these markets. The presence of this product on the fund platform, which is used by many advisors, will make it possible to include it in diversified portfolios together with another asset classes such as shares, bonds, gold, etc.

This piece of news, by the way, received much less media attention than the other one, from the SEC, which was negative. Specifically, the SEC froze OTC for XBT (Bitcoin Tracker One XBT Provider) until 20.09, which has long been listed and traded on the Nasdaq Nordic stock market in Stockholm. At the same time, no one stopped trading on the stock market itself, except that a day volume was lower than the monthly average.

So, media didn't pay much attention to the news from Canada which is totally unjustified. If the experiment succeeds (and the local regulator has at least no objections), then this will provoke the SEC to act actively regarding the registration of rules and the possibility of investments for institutions in this market. In this case, we will observe a significant inflow of liquidity to the market and as a consequence a good upward signal not only for bitcoin but for all cryptomarket.