So, at which dispensaries can I exchange 1 CANN for 1g of CANNdy??? That's a pretty damn good deal... if it actually exists.
That was the original intention.
But the price of a gram of CANNdy is more than $.01, so the reality is that deal doesn't exist. If it did, I'd never work again at my day job!!
Of course it exists.Not just the "original intention" but CannabisCoin's "
raison d'être", see the OP:
What is the “Yes We CANN” movement?
The Yes We CANN movement is about medical marijuana dispensaries and shop owners that participate in providing safe, affordable, and quality medicine utilizing CannabisCoin as payment. This movement is a way for dispensaries and shop owners to show their appreciation to their patients by donating some medication into the “CANNdy” inventory.
What is CANNdy?
CANNdy is a supply of meds that consists of strains grown specifically for CannabisCoin purchases and/or strains that can be purchased at the rate of 1 Cannabis Coin (CANN) to approx. 1 GRAM of medication.
Does this mean you can get an unlimited amount of marijuana in exchange for CannabisCoin [CANN]?
Don't be stupid. Marijuana legalization legislation does not permit that and even if it did no one is going to donate unlimited product just so you can get high or resell it. Go back and read the quoted section from the OP. Keep doing so until you understand that this is about getting quality meds to mmj patients, preferably at a subsidized rate. Realize too that CANN may be used for any purchase
at the current exchange rate - the peg only applies for CANNdy mmj.
Now, if you are done being "dopey" you might like to consider why a lot of people feel that CANN will gain considerable value.
In the same manner as say, produce growers dedicate some of their crops to food banks, DeltaNine and recruited growers are donating portions of commercial grows into the CANNdy inventory. As supplies increase more dispensaries are expected to become part of the Yes We CANN movement, if for no other reason than preventing their patient client-base from going to other dispensaries that do distribute CANNdy. Nothing prevents dispensaries from donating any product into the CANNdy inventory right now, they do not have to wait for specifically grown product to join the Yes We CANN movement.
To do so these dispensaries/shops put in the necessary infrastructure and staff training to handle purchases with CannabisCoin, in its most basic form that amounts to little more than a wallet and printed Qr code so it is not an expensive process. Once the infrastructure is in place there is no overhead involved in utilizing CANN for cashless transactions and this is where it becomes particularly interesting. Even though the current administration has instructed that state-legal businesses should not be prosecuted banks find compliance costs too high and consequently refuse to provide banking services to marijuana businesses. As a result of this marijuana businesses are drowning in cash for want of electronic cashless point-of-transaction services.
Don't think that cash is a problem for marijuana businesses? Here's a few little news items you might find interesting:
Protecting Marijuana's $2.7 Billion Cash Industry When Banks Won't;
Significant Setbacks in Cannabis Banking Slow Recent Momentum;
Security Firms Thrive While Cannabusiness Seeks Banking and so on. The information is out there if you care to look rather than giggling like fourth graders over "
look, I can get weed for CANN, te he".
Enter CannabisCoin as a cashless service provider. One that is likely to grow organically as crops become available for donation into the CANNdy inventory.
Sourcing CANNdy depends partly on trial-and-error testing to find the right source strains to deliver the desired output and which will thrive in a given grow location. This is a process which does not happen overnight. There's a lot time consumed in finding legal grow sites (yes, locations are controlled), finding the right strains, propagating and distributing to growers, actually producing the crops, harvesting, curing, testing before packing and finally distributing the product. People expecting to be flash millionaires should calm down and realize this is a project which will take years to bring to fruition - for DeltaNine this is a lifetime mission to bring quality meds to mmj patients at a reduced cost.
So what is in it for the donors of CANNdy?
Why do any of us give? Fortunately it is just part of the social nature of humanity although there are benefits besides.
For growers now there's only the good feeling of giving to those in need, although they may find their lives made easier later by transacting in CANN depending on future federal and banking moves.
For dispensaries and shop owners it's a way to show their appreciation to their patients by donating some medication into the CANNdy inventory. Of course, the more patients and general purchasers they get using CannabisCoin for some or preferably all of their transactions the less of a cash problem they have and the greater the safety for all involved. Heck, just the safety factor of reducing cash transactions alone is sufficient to justify donating into the CANNdy inventory and even the most hard-hearted and mercenary of dispensary owners can see the profit in reducing the insurance cost of the amount of cash on premises. There's also the benefit of reducing the cash temptation factor for employees because employee theft is
unfortunately a major issue. Couple all that with retaining/increasing your client base then donating into the CANNdy inventory just makes sense.
So what about those who are neither patients seeking to reduce the cost of medical marijuana nor dispensaries seeking their business, what is in it for the speculative purchaser?
Some purchasers are driven by charitable giving, stockpiling cheap CANN against a time when recreational mj trade might drive CANN to parity pricing if the feds do not change marijuana's schedule one listing and banks continue to decline marijuana business. Stockpiling now will permit the establishment of charitable funds to continue subsidizing needy patients' medicine.
Others of course are in it solely for profit. For the reasons listed above they expect CANN to increase in value and are making speculative purchases now. Even though their motivation is personal profit they are extremely helpful in these early stages. How? By keeping the market buoyant during the long period of low apparent activity, the period when phenomenal effort is made behind the scenes but little change is apparent to outside observers. It is the speculative traders who are providing the "carry-on" funding for the miners busily hashing away, keeping the CannabisCoin block chain moving along, providing transaction security.
There's your answer, perhaps a little more nuanced than you had expected but the bottom line is: "
Yeah, it actually exists!"