@Everyone:This thread is about CannabisCoin (CANN) so it is natural for posters to be focused narrowly on the coin.
As undefined and unregulated products crypto "currencies" (for want of a better term) have attracted all manner of dishonest types intent on ripping off a naive and greedy community of desperate individuals and groups gambling in the hopes of striking it rich with magical money.
In an effort to defend their gambled stakes some seek constant assurances that they have made a correct decision by demanding frequent doses of soothing words and placating pictures. This is understandable but sadly pointless. If someone is ripping you off they will likely tell you everything you want to hear while picking your pockets. That is simply life in the unregulated environment crypto types claim they seek. In this largely lawless realm it is basically a case of get used to it or get out. It is really that simple.
So what makes CANN worth buying and holding?Apart from the obvious benefits for medical marijuana (mmj) users being able to mine tokens to purchase their required medication a lot of people want a reason to buy, hold and trade CANN. So how do you know CANN is about the safest bet in crypto?
I think the most comforting information comes not from "dev, answer me! answer me!" but from seeing what is happening in the U.S. regarding mmj and recognizing that DeltaNine (∆9) is pouring so much real money into his enterprise that a nickel and dime crypto scam is simply not worth his time and effort.
As an example, read this passage from
this High Times article:
As real as it may be, applicants interested in getting involved with medical marijuana in Illinois were forced to cough up a substantial chunk of change for a chance to get involved: a $25,000 non-refundable application fee, which turns into first-year fee of $200,000 for all approved cultivation licenses, followed by a $100,000 annual fee for every year thereafter. In addition, licensees must also provide proof of financial responsibility with a $2 million surety bond.
Do the same conditions apply in Arizona and Colorado? I have no idea but I can say with certainty that setting up grows, complete with semi or complete off-grid power costs real money and not the trifling sums made available by a 1% premine of a cheap crypto coin.
∆9 has always been right up front about the fact CANN and the Yes We CANN movement is all about getting quality meds to mmj patients at a reasonable price. That is where there is a difference in perspective between the movement and those who call themselves "investors". For the gambler trying to make money from ∆9's efforts and investments CANN is the product and purpose of the exercise while for ∆9 CANN is just one facet of a coordinated effort to deliver CANNdy (mmj) to patients.
Will CANN rise toward parity price?In my opinion, yes it will - but not for quite some time.
At the time of writing CANN is quite literally "two-a-penny" (
BTC0.00001060), just enough to keep miners interested and the blockchain moving. As crops are grown, harvested and distributed, more CANNdy donated, more dispensaries involved and importantly, more laws relaxed, CANN will inevitably gain popularity and the price will rise.
Will it make crypto speculators rich? Perhaps, eventually but it is not likely to be this week or this month and very likely not this year. That is something that will prove a great challenge for those used to the one-week to one-month total lifespan of the pump and dump coins which have so plagued the crypto scene in recent months.
For your personal peace and tranquility I urge anyone thinking of putting money into CANN with a view to profit taking to only purchase to a value you are content to lock up potentially for years. This is not a pump and dump venture but a movement to support mmj patients.
For those who do or have put money into CANN I urge you not to be a "chick investor" and by that I mean one constantly seeking to be fed soothing words or images:
It isn't a good look and leads only to stress all around.
The opinions expressed above are my own. The are not meant to represent DeltaNine, the dev team, CANN, CannabisCoin, CANNdy or the medical marijuana movement, with whom I hold no office, position or relationship beyond that of supporter.
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