Topic: CannabisCoin [CANN][X11][Official] Developments & Discussions - page 109. (Read 706488 times)

I think people outside of crypto are having a hard time in being patient syncing their wallets.  I gave away some CANN to couple of people from Phoenix, Arizona.  They haven't synced their wallets until now.  Any howto available on the Android wallet?

yeah no shit.. its a little late to play in the LTC realm unless you have a big stack of BTC to buy in with and even at that rate the real gains are going to be seen when LTC halving goes down.

Really? 

They should have gotten in LTC around .00625.

You're my hero!

?

My apologies for being so vague.

Cool.  Thanks!

To the best of my knowledge there has never been a purchase requirement at the Herbal Wellness Center and pictures & reports posted show a $10, 1 gram preroll exchanged for 1 CANN. See posts by synapse_showsumctrl beginning here.

The thing to do would be to contact HWC if you are a holder of an Arizona mmj card and let them tell you what you want to know.

Please everyone, don't do so unless you intend to transact business there - they don't deserve to be harassed by non-business calls.

Quick question...  So what's really the case with the Herbal Wellness Center, is it one gram pre roll per person per day?  And that you have to purchase something..?  Or is it really 3 grams, like what the other guy said?

Oh me oh my, you have not done research, maybe a tad. you are trying to advertise yourself and dethrone history at the same time... not a good strategy. I must say that you should get lost, we dont need you , never have, you do not get it. get on board or stay on the the dock

For whatever reason people seem to be fixated on the "cost" of donating medicine into the CANNdy inventory so perhaps we should look at a case example.

Let's do one for California because I've already looked up the average dispensary client patient spend, which is $70 per visit. I also use a $10, 1 gram preroll price because it is commonly advertised. Note that this example excludes the value of migrating client patients from cash to electronic point of sale through crypto despite the cost advantage that provides.

Our correspondent, goldengatesgreenest obviously knows the advantages of transaction by crypto because they offer a discount of 15% if the transaction is made in PotCoin.

The average spend in California is $70 - 15% = $59.50* return to the dispensary.

If, however, they were offering 1 gram of CANNdy in the form of a $10 preroll that they'd donated themselves then the sum becomes $70 - $10° preroll = $60** + 1 CANN return to the dispensary.

It is of course up to individual dispensaries whether they enforce a rule of whole purchase in CannabisCoin to qualify for the 1:1 peg. I suspect they'd be far better off not doing so and simply using CANNdy sales to encourage clients to purchase with CANN rather than cash but it's for individual businesses to decide.

Very obviously there is no disadvantage for goldengatesgreenest joining the Yes We CANN movement over offering 15% discount for buying with PotCoin and in fact they would experience a slightly higher return from the donation into CANNdy inventory model.

I strongly suspect states where average patient spends are significantly higher than $70 would likely charge more than $10 for a reasonable 1 gram preroll so I doubt that percentages would change very much.

The only things which will change are the return from that 1 CANN as usage drives its exchange value higher and I guess the most likely recipients of cultivator donation of specifically grown CANNdy strains would be those dispensaries which already honor the peg through their own donation.

Some people hand-wring and worry whether the 1 gram for 1 CANN model is sustainable, well - simple math says "Of course it is".

*PotCoin to the equivalent value

**CannabisCoin to the equivalent value

Edited and updated by request:

°This is booked as the full retail sale opportunity cost both to simplify the sum and because I don't know the wholesale price or retail markup. While the perceived value to the client is the retail price the direct cost to the donor is the wholesale price (or manufacture cost) actually paid by the donor. As my insistent private correspondent points out the sum is actually $70 - [wholesale cost of $10 pre roll] making the return to dispensary likely ~$63 + 1 CANN or equivalent to a 10% discount.

Additionally the dispensary has the option of delaying exchange of their CannabisCoin until rates are more favorable, thus increasing their return even further and reducing the "cost" of the pegged CANNdy/CANN exchange retail model.

As CANN increases its exchange value the return to dispensary increases and the discount decreases. Should recreational sales and demand drive CannabisCoin toward parity pricing the opportunity exists for dispensaries to subtly adjust the peg by simply increasing the number of grams per day available to patients at pegged rate to restore the discount percentage. If volume begins to clash with legislation in the future the peg may be arbitrarily adjusted to some fraction of 1 CANN per gram, for example.

The bottom line is that the CANN peg is an eminently adjustable and easily affordable discount model for dispensaries to show their appreciation to their client patients and/or attract new business, be it medicinal or recreational where applicable.

Except they are not giving it away free.

As I pointed out previously, even if you do not count the value of CANN then the donation of say one $10 1 gram preroll is equivalent to a 14% discount on an average Californian dispensary spend. That makes it slightly less discount than goldengate are offering for PotCoin purchases.

That's very different from "giving their product away for free".

Have to agree I do not think that any business would give away their product for free , if D9 is lucky he finds a lot of businesses that will be willing to give out cann for candy provided by D9 previously.

My original post was about a way of using your cann to get a discount by shapeshifting to potcoin. But instead of getting your coin listed on sites that can allow consumers to use cannabis coin you just want to regurgitate the same old taking points. And I did say I may be wrong in an earlier post but you want to be the hero or something. I'm done here, good luck finding dispensaries willing to just give away their good quality cannabis for peanuts.


You got tunnel vision my friend.

Too much reading for you?

Must've been because the equivalent of your 15% PotCoin discount is definitely not "provid[ing] CANN users with free cannabis".

I think if you take the time to understand the Yes We CANN movement you'll change your views but as always the choice is entirely yours. I would ask you to refrain from making misstatements about CANN and CANNdy though.

Really this last dump and a good opportunity to make a good cash with the next price increase. For those with BTC left and a great investment.

@ goldengatesgreenest

You want something substantial to think on? How about that you are already employing a philosophically and financially similar marketing strategy?

But firstly let's deal with the single strain, multiple strain thing and a few of your random statements. Perhaps one single exclusive strain was an impression given or taken during a skype call friend but the OP has always stated in plural, along with donations of any other medical marijuana - hence my highlighting.



I would suggest to you that any dispensary donating "crap" will find that doing so is hugely negative promotion and not remain in business for long. Would you give your patients garbage?

Additionally you are probably well aware State marijuana laws do not permit patients to buy marijuana by the pound nor has there ever been any intimation that CANNdy would be available in unlimited quantities, making your statement:


quite absurd and unworthy of an answer.

Now, I get the impression you are strictly operating a web portal so perhaps you do not see any of the advantages CannabisCoin brings to brick-and-mortar businesses but you asked so here's one thumbnail scenario for you:

As background here's a few articles on marijuana dispensaries' cash problem:- Protecting Marijuana's $2.7 Billion Cash Industry When Banks Won't; Security Firms Thrive While Cannabusiness Seeks Banking; Mad Scramble in Nevada After Bank Retreats From Cannabis Industry; Marijuana cash is problem for Illinois tax collection; From 'cash teams' to security, marijuana business gets serious and so on... if you are interested in the problem a simple internet search should net plenty of results.

Obviously banks will not provide financial services unless and until marijuana is removed from Schedule I and becomes legal federally. This means that dispensaries are stuck with handling loads of cash along with the security and insurance costs volumes of cash entails. The solution is obviously a digital point-of-sale system outside the federal banking system but which can be converted to fiat currency at will.

The media has painted Bitcoin as something shady and dubious, belonging to the realm of gangsters, gun dealers and drug lords, something which Fred and Freda Sixpack unfortunately believe. This increases the difficulty of bringing crypto to the average patient. It also allows the anti marijuana brigade to paint dispensaries trying to use bitcoin as shady by association.

How do you get patients to use crypto in the face of that? One answer is to provide high-value, low-cost medication in exchange for purpose-made crypto and perhaps some discount on other purchases also made with said crypto at full exchange rates.

I would call moving clients from cash to crypto one very real reason to "accept the peg", as you put it. While CannabisCoin is as cheap as it is you can consider it a loss-leader marketing strategy if you cash out immediately or, if you stockpile until broadening use drives CANN toward parity market pricing you could view it as deferred payment. Either way it significantly reduces your cash cost and greatly reduces the opportunity for employee theft which is unfortunately a major issue.

Of course, if your only business model is built on a web portal then this may not have been a relevant outline for you particularly but I note you already offer a 15% discount for PotCoin sales. Is that because non-bitcoin crypto offers you a cheaper transaction structure? Isn't that merely another inducement to have your client patients use a preferred payment system? How is your blanket discount philosophically different from a loss leader strategy?

In view of your own marketing strategy and assuming you don't "sell crap" for your 15% discount, do you still believe dispensaries will only donate rubbish into the CANNdy inventory?

I firmly believe in what ∆9 is doing and in ∆9 himself, for that matter. I am quite certain CannabisCoin is going to be very big news as crops become available for distribution. Think of the free promotion you'll get if you are already part of the Yes We CANN movement. Why wouldn't you give patients you are already trying to help a near-free gram or two or even three per day or week to encourage more patients to use crypto? Absent monumental changes in federal and banking industry policy and laws CannabisCoin is going to be used more widely and increase in price which will reduce the cost of such a loss leader strategy.

You say that you want to help veterans and donate some medication. Great! Donating what you can into the CANNdy inventory is one way of so doing. How much you donate and what daily/weekly limit you put on the pegged supply is entirely up to you.

Remember too that the average dispensary spend in California is $70. Guess what? If your CANNdy donation were to take the form of a single $10 1 gram preroll that's a discount of just over 14% minus the return you get from 1 CANN. Do the math. Honoring the peg need not be an expensive proposition for the dispensary at all. For your situation a limit of 1 gram of CANNdy per patient per day at peg would average out cheaper than your 15% PotCoin discount and actually be more profitable if you stockpile and delay cashing out. Even as a web portal rather than a brick-and-mortar business there is still advantage for you being part of the Yes We CANN movement.

I assume profit, additional marketing strategy and significant free promotion on the horizon are substantial enough for you to think about. I hope that profitable businesses will gift medicine to needy patients but as you can see there is a hard-headed business case to be made for donating medical marijuana into the CANNdy inventory. Think on that.

Edited for typos

I will go in to my browser history and see if I can get . and post it

can u tell wich "report"?