Jeez, Cannabis has probably the biggest and the longest altcoin accumulation ever. Well, whatever - gonna accumulate too then
Cheers!
~ Strugg
Seriously! We've had like 3-9 bitcoins of volume every day for the last 4 months all between 1000 and 1250 satoshi. Where is all this cann going?! Has anyone analyzed the block explorer to see if the coins are leaving bittrex? Are there a few whales accumulating a huge portion of the coins? Are there a lot of people holding small amounts?
Urocoin is sort of in the same situation, it was pumped around the same time as cann, in fact the charts showed nearly the same trend, and it too has had months of healthy volume with little price fluctuation.
Hi Nat
The block explorer is
here if you want to analyze it.
You guys are right, this is one rock-solid coin with a price resistant to the usual fluctuations.
I would suggest this is because there are a number of people who believe in what ∆9 is doing and who enter the market whenever the price falls near 1,000 sat (
BTC0.00001000) and due to ∆9's care to not say or do anything to trigger market pumps, leaving the price fairly stable. The latter is something coin speculators complain about from time to time but the coin's history is quite instructive.
I think it is an extraordinary feat on the part of the CannabisCoin dev team to achieve such stability in the really quite juvenile cryptocurrency ecosystem. I have long harboured doubts about whether crypto was ready for prime-time (just look at the percentage of outright scams and absurd, albeit temporary valuations of coins with zero substance and/or purpose) but CannabisCoin displays a maturity and purpose quite out of character with the pretenders in the pack.
I now believe that a core of long-term holders is coalescing around CANN, a core that will sustain and support it through all the doubts and setbacks of evolving marijuana legislation. I think this core will see CannabisCoin through the volatile "Wild West" of crypto gambling that we have seen to date and on to a solid blue-chip-style asset. As the mmj market supply and demand grows core holders are likely to slowly release the coin supply back to market as mmj tokens in a way that will protect mmj patients from market price spikes.
To have inspired such an informal coalition is indeed a tribute to the man and his mission.
<3 and respect ∆9.
To have conceived and launched the Yes We CANN movement is awesome. To have maintained the momentum through the turmoil, chaos and at times naked hostility of the past year, from concept to reality, is truly inspiring.
Oh, and in case I hadn't mentioned it, I'm really quite impressed by what ∆9 is doing and how he is going about it.
