Topic: CannabisCoin [CANN][X11][Official] Developments & Discussions - page 122. (Read 706375 times)

Weekend reading:

"Delusional Confidence? A Report from the Marijuana Investor Summit

... All were convinced that the ongoing legalization of marijuana has created an opportunity for people with a high tolerance for risk to make a killing. Twenty-three states and the District of Columbia have legalized medical marijuana, and four of those—Colorado, Washington, Oregon, and Alaska—have made recreational pot legal. But it’s not legal federally, resulting in chaos and conflicting rules." --Sara Davidson, The New Yorker

"Wax Is Weed’s Next Big Thing And No One Knows If It’s Safe

California dispensaries say butane hash oil, or “wax,” now accounts for 40% of sales — despite potential health risks and home lab explosions on the rise. With no regulation and a lack of good information, stoners turn to self-appointed, and self-interested, “experts” like Matt Rize — but at what cost?" --Amanda Chicago Lewis, BuzzFeed


Thoughts? Comments?

FYI - CannabisCoin rewards should be halving this weekend.  

Bumping MrBigMugs' important post:


There have been plenty in the past who have complained that ∆9 and the team are not doing enough fast enough to make them the money they desire. Well, here's your chance guys. It's your turn to put a little effort in.

Thank you, somebody gets it!

Hmm... maybe there's something going on in the U.S. I haven't heard about but this is interesting - times shown are GMT+10, making the periods displayed roughly GMT days 00:00-24:00hrs, day -1 (i.e., where my time reads 09:00 May 16, that is 23:00 May 15 GMT):

What happened to the CANN market over the last 24hrs? Just 50K turnover is about as small as I can recall.


For comparison, here's the last 48hrs with ~10 times the turnover.


I love watching the markets just for interest's stake. Look at Bittrex's complete CANN market history (Bittrex is where most CANN activity takes place):


Traders and hopefuls have churned more than 4 times the total CANN supply in under a year. Given that under one third of the supply is held in peoples' accounts on the exchange that means those coins have churned a dozen times over the past year, changing hands once a month.

Incidentally, it is very poor security leaving so much temptation in one location and relying on someone else to protect your asset. If you are not actively trading your coins why not move them to an offline wallet?

Also very unusual among altcoins, CANN has a firm and slowly increasing floor price although it still suffers occasional periods of irrational exuberance as external pumpers enter the market.

The corollary of one third of the supply being in traders' hands is that two thirds of the total coin supply is held by long-term strategic holders, confident enough they are content to wait and experienced enough that they are aware how long it takes to run the gauntlet of red tape, acquire appropriate locations, outfit and supply them (not to mention finance them), go through all necessary testing cycles, propagate and actually grow the product, then prepare, package and distribute it.

I can hardly wait to see how the market evolves when the actual operations phase begins.

Exciting, isn't it?

I sell my CANN todays not all but most of it. Buy viral I did because I look for fast money and CANN is slow money like slow growing budz. I think CANN can do some moves up but not for long time till marijuana is legal everywhere

\and I don't wait that long to make profit so I jump ship to viral for now but will be back when the CANNcoin is ready for masses

Imagine that, changing focus to where problems actually exist...

"New DEA Chief to Focus Less on Cannabis

The incoming head of the Drug Enforcement Administration reportedly will focus less on marijuana and instead put more resources toward harder drugs such as heroin, which could relieve some pressure on cannabis businesses in states without strong regulations on the industry." --Marijuana Business Daily

Any additional info i come across i will gladly share amongst the community, knowledge is power and power is what we need to move this forward!

SGT

Thanks for the additional info.

I had no idea Washington State was so expensive, especially since tracking sites like The Price of Weed show Wa. as having a high-quality average of ~$230/oz. (<$10/gm). Perhaps the difference is in all the taxes levied on legal product as compared with black market or "street" product. If so it shows how ridiculous it is to hammer legal product with such onerous taxation burdens since part of the rationale for legalization is the elimination of the black market and criminal enterprise. With street product at one quarter of the cost of legal product there's a significant disincentive for the elimination of street trading. Too silly for words.

Thank you for your efforts MrBig. You are a wonderful supporter!

Of course, CannabisCoin holders can be found in wondrous variety across the spectrum of appetite and affordability, from CANN millionaires down to patients holding a dollar or two's-worth hoping to reduce their med expenses and we ♥️ you all

mrbigmugs makes a great point for speculators seeking to profit from CANN's value increase. If you can afford to do so you can enhance your opportunity for profit by contributing to CANN's success, in this instance by helping mrbigmugs (or competing with him) by voting effort. To some extent your ability to profit from CannabisCoin is in your hands.

We should all thank mrbigmugs for his efforts and enthusiasm.

Well once i get back to my main wallet holding pc i will do what i can with my small amount of btc. Its probably only about 20 votes since im onlt mining with an asic at 110-130gh/s

So I have been looking into it, If a caretaker has a medical card in both washington and oregon you are able to legally transport medical marijuana across state borders. Federally, yes, it is still illegal.  But it is only a matter of timembefore it gets re-scheduled

But also there has been a developement in medical mj in washington state. The recreational companies are lobbying to remove medical dispensaries and medical gardens dedicated to actual medicine and not just a nice toke for some hipsters.  Unfortunatley if the rec stores get there way every one that needs there medicine will have to pay an enormous amount of money for a small amount od medicine.  We are talking 35USD for 1 gram of recreational weed, at which the stores buy from the medical growers for a staggering 1USD/gram.  Yes, i understand business costs but these places arr making 100k a MONTH after costs. On top of that tenders only get paid minimum wage with no benefits.   

sorry for all the bad spelling. im on a tablet and its extremely difficult to make corrections.

SGT

still time to examine.

I'm an Aussie and rely on news reports and publications for information but as far as I know legal grows and dispensaries remain problematic in the District of Columbia.

Additionally, interstate trafficking of marijuana, medical or not, remains illegal in the U.S., does it not? Offhand I see no legal way CANNdy could be supplied from ∆9's grow sites in Arizona and/or Colorado to patients in DC. To me that means it is up to DC residents to provide CANNdy supply for DC patients.

That's my reading of the situation and I am open to correction.

Speaking of restrictions. Regardless of Federal directive on how they should provide banking services to legal marijuana operations the big banks just will not play:

"Large Banks Say Cannabis Business Risks Still Outweigh Benefits

The nation’s largest banks aren’t willing to work with cannabis businesses because the risks of working with a product that’s federally prohibited outweigh any benefits, executives with the financial institutions told Bloomberg." --Marijuana Business Daily

why not try DC? its recreational there now... its also been medical for YEARS!!!

That depends on your status under your state laws and the willingness of your local dispensaries to be part of the Yes We CANN movement.

Other than that we have this relayed message from DeltaNine:


That would suggest that "go" dates are not yet available but the situation is being worked upon. Remember always that state restrictions will still apply.

when can said holder of coins trade for said "canndy"? like a date? ??/??/?

PoUpA,

LoL  Cheers!  D9 is currently south of the border as we speak.

-CANN