Topic: did you know industry marijuana will be good future in cryptocurrency? - page 3. (Read 862 times)

Not at my country , that's why my government still forbid bitcoin as main transaction because it can be use for illegal activity.
But for other country that still not have any problem with bitcoin, there is a potential for drug dealer to do transaction using bitcoin for preventing get caught by law enforcement !

In my own hones opinion, every coin that whose objective nothing other than promoting cannabis is a joke and one of the projects soiling the name of crypto currency by giving further arguments to those people who hold that crypto currency is being used for illegal activities since cannabis is illegal in most countries of the world.

Cannabis and other drugs have caused more harm than good in any social setting of the world irrespective of how the promoters of such want people to believe other wise. You see young people getting wasted away then turn to social miscreants to disturb the community and the only thing they take which is different from those who help the community is cannabis and all of other drugs.

If you are reffereing to medical marijuana, people might support it, however marijuan is still considered an illegal substance around the world, if this is for the support of research why not, but funding it as means to be distributed like illegal drugs or for purposes like that, it may not be supported. We all know that bitcoin can give a huge financial boost when it comes to such industry, but let us not waste good money in support of marijuana other than research and in time we might see good feedback for marijuana around the globe not just for getting high like we see on movies.

If it is plants kind of narcotics then it probably use in the dark market and i will not support personally.
But this is cryptocurrency all over the world every can has different opinio.
If that new coin just pum and dump better compare it to bitcoin.

As the main problem of cannabis vendors in the USA (in states where it is legalized already) is that they have to cope with huge amounts of cash every day because banks wont work with them. They have to store all the cash they earn somewhere safe and this can be very difficult. It bears a very high risk for them. This is where cryptocurrency comes into play, it is really useful for them, because they can accept it as payment and dont have to fear to get robbed etc.

It needs to be legalized first before you can have this discussion. I know it is legal in some parts of the world but your never going to get any major US player to get on board with a banned illegal substance. First drop the stigma associated with marijuana and then we can have this conversation. Until then it feels like everything is a moot point.

Yeah. Marijuana industry have a good effect on cryptocurrencies especially monero because in some countries, marijuana is still illegal so, if you caught using marijuana more likely you will end up in jail and that's why cryptocurrencies such like monero comes handy because of anonymity no one will know you are the buyer nor the seller. But a marijuana backed altcoin? Seems interesting but in i think it will have a huge setback especially in countries where the marijuana is illegal

A marijuana backed altcoin could be an interesting experiment as it could provide a stark contrast to precious metal backed fiat. Storing tons of marijuana in a vault for years could provide greater price stability than swapping out weed annually, that would be an idea behind longer term storage.

A weed backed coin could be something like a bet on the long term value of weed. If market expectations were higher weed taxes, reduced weed production and other policies which could increase the value of weed per ounce. Storing some in a vault with the expectation that it will appreciate in value could make for a better currency backing than gold. Like for example, let's say taxes on legal marijuana were raised and production was lowered which made weed 20% more expensive over 5 years. That appreciation in value could make for an interesting contrast to fiat or gold.

It could be compared to tobacco and alcohol excise taxes where cigarettes used to be much more affordable, when taxes were lower. Storing tons of tobacco in a vault while the price is appreciating could make for a cool experiment. The same might be said of weed.

One reason for experimenting in this way is, it could capture peoples imagination and encourage them to experiment more in ways which could lead to greater understanding and innovation in terms of how markets/finance function, which could benefit humanity over the long term. That's the main motive for me. I don't even smoke weed lol.

The marijuana industry is an industry that always maintains its place. it has become legal in many countries. As you said before, marijuana continues to be used in the pharmaceutical industry. So it may be logical to invest in this sector.

I happened to have bought HempCoin months ago but it slowed down its growth after that so I decided to let go of the coin  and then weeks after it started to surge. The legal marijuana industry in USA is one of the most booming right now and even well-known companies are now also exploiting the industry to the max. The market for both medical and entertainment marijuana is huge and is growing at a good rate. I am sure there can be so many millionaires that this industry can create in the short-term. The use of cryptocurrency platform for the marijuana business is now documented...some projects are really into marijuana production and some are just into marketing. Many of these producers lack the capital needed so they use the ICO platform to gather funds and in return they are issuing tokens for their investors. There is a good future for this very controversial industry and coupled with the cryptocurrency model...I am seeing a very explosive growth here.

Master amrulshare maybe will give the link about marijuana for us? We don't know about marijuana. So, we can not analysis about it

Why would you need to store the same ton for years. You could swap out tons every year.

And now, why would you need to make a weed backed coin? What would be the purpose? Tomatoes are valuable. Should we have a tomato backed coin as well?

There is a big difference between gold and weed. Each ounce of gold is interchangeable. The same is not true for weed, or tomatoes or oregano or pork bellies. (By the way there is a market for pork bellies on the Chicago Mercantile Exchange.)

We've seen gold and precious metal backed currencies. I've always wondered if there was a potential for altcoins backed by marijuana, oil, jewels, rare earth minerals and other things. One ton of marijuana preserved in a vault could be worth around $5 million. It wouldn't have anywhere near the longevity or survivability of gold or silver although I think it would last at least a few years. Despite the perishable nature of weed, its supply could be sold off & replenished every few years to maintain the backing of a crypto altcoin.

If nothing else it could make for an interesting experiment and the news headlines and marketability of the concept could draw investors who are looking for innovative, new or interesting ideas to be involved with.

I have also noticed the increased and the sudden pump in this coins during the course of the week. some of them even made it to top 30 biggest gainers in CMC. I was even surprised about the names because its downright straight to the point as to what it likes to promote. However, I believe that this is just purely a dump and pump scenario since I don't see any clear goal behind this coin, taking into consideration that there are only few countries where cannabis is legal (and is even under certain conditions such as medical use and such) . Don't see a lot of potential in this one, so better stay away from investing here.

I see the point that it is only in July or even later but that is surely enough of a reason to have caused the pumps, it's a big industry and crypto is trying to make its way in to it and get some of the profits. Marijuana could be an absolutely huge huge industry if it is legalised in more and more countries but I just don't see how crypto ties in to that in a successful way that really adds any value for your typical marijuana user??

These are two different insustries, period. They are not connected any moreso than two other industries, therefore no. However I could see some people buying marijuana with Bitcoin actually they already have been for years.

I don't think Bitcoin or weed need each other to grow. Many weed users and merchants want semi anonymous, digital transfer of funds, and, out course, that's BTC or any crypto.

Still drugs and crypto are not inextricably tied together. If weed is completely legal and culturally normalized why would one choose BTC over Paypal when making a purchase? (Outside of costs, etc...)

well, i also heard the issue but news of kanada will be legislation of marijuana is still long at less july 2018, source- cnnnews
did you know about WeedMD? their is industry professionals licensed under ACMPR to produce and distribute medical cannabis to patients across Canada. more benefits marijuana than cigarette

I was aware on this matter about cannabis but i dont really see that it would be connected to cryptocurrencies. This plant wont really be easily be legalized because of the effects that it would really give to the citizens and would be used on improper ways not focusing on medication but on addiction. For those coin are just using this herb then for sure they would really be hyped up later on.

I am not sure how some cryptocurrency can "move" in cannabis world, I guess you meant using crypto for buying those substances. Well we all know that Bitcoin is widely used in dark parts of the internet, for many transactions, because of privacy it provides. That makes perfect currency for people who deal in shady things. And it is no surprise that those things have impact on price of bitcoin or some other altcoin. As far as legalizing cannabis... I am not sure about that, not sure what to think.