Topic: did you know industry marijuana will be good future in cryptocurrency? (Read 891 times)

The question is not if weed industry will be good for cryptocurrencies future but will cryptocurrencies want to be tied to the word marijuana. I know weed is now legal in many places all around the world but it is still holding a lot of troubles in many countries as well and even in the countries it is accepted as legal there are people who do not like it and wish it wasn't legal.

Hence crypto is already remembered as the "money laundering, mercenary purchasing, darknet using" thing and if we want to get our name with weed together that may not have the professional outlook we want. We are fine with our little SEC accepting the ETF, bakkt doing stuff and wall street liking it and so forth, that way we can look professional and be fine, but weed would make it too liberal once again.

if its use can be monitored then legalization will definitely occur. but the government cannot monitor it in full, there will always be drug abuse, but legalized or not this business will continue to run and maybe the blockchain will help this business in the future

The marijuana cryptocurrency may be the earliest coin to pay. Since the particularity of marijuana can only be traded privately, the anonymity of the cryptocurrency is beneficial to the position of the trader, and the marijuana cryptocurrency will be the first to open the currency. I think this is good for the cryptocurrency market.

Blockchain technology can be applied in many essential areas of human endeavors but the issue with the cannabis industry is that it is  illegal in many parts of the world so I don't know how people in countries where it is illegal would embrace cannabis in any ICO project.

We do know that marijuana is intoxicating but on the other hand marijuana has medical benefits, it all depends on the person who uses the marijuana.
With the benefits of marijuana for medical I think marijuana does have a good future.

Well, marijuana is not typical food like tomatoes, bananas, bangers and other. Marijuana  is much more close to medicine for using like a medical preparation. As far as I know marijuana is prohibited almost in all countries so the shadow market is huge I think. I am sure that there is quite well and stable demand on marijuana therefore the legalization of marijuana has tremendous financial potential for those who invest in this venture.

not because of crypto currency, even now the industry is developing very rapidly, crypto currencies are not the cause of the growing business, the source of the problem is people who abuse this crypto currency, like a knife that will be useful if used for good things vice versa

Well blockchain really are something and it do can help the use of legal marijuana. People start to think that marijuana could realy help someone and safe life especially for medical and i read about marijuana ise for depresion patient and it also use for rehabilitation of drug abuse. So i think its good to track the use of marijuana by ising blockchain.

The story seems very humorous mara compared to electronic money. The world of electronic money is allowed globally. It brings real value to the community as well as the people. However, it refers to "marijuana" which is the reverse of society. It is not practical at all.

They  say that cannabis  can be used to treat some illnesses  thats why some are involve on it.  It can be helpful but to others  they used it illegaly.
 Because of being decentralized, its tranferable without knowing the identity, some use it illegal transaction we cannot that fact. It safe for them to buy and pay marijuana using bitcoin. Thats why they think crypto is illegal because of some who used it for black market.

I still remember Bitpay rejecting the request from some marijuana merchants in 2014, after Colorado legalized weed. Back then I was thinking that we lost a good opportunity to get some mainstream exposure.

I'm sure it's not good in that part of the world you live in, not dreaming of a day when you see marijuana being legalized, it's an industry that makes a lot of money in the world in any market. This is not a good idea, but I think it should not happen. Unpredictable consequences.

great combination actually -_-. One illegal thing is used to buy another illegal substance ;')

Ahh another great way to ruin the lives of prople under the load of narcotics and gambling world

Are the bitcoins the main idea of this cannabis ad? or it tells that cannabis can be brought by the aid of bitcoins speciall?

Do you really think that the governments around the world will legalize marijuana, that is not going to happen , i am not really sure about all the coins that support the cannabis industry ,the first thing is it wont be a success as it is not legal in most part of the world and you will end up in legal trouble if you are dealing with these things.

I am not sure in which part of the world you are living in, do not dream of a day when you see marijuana being legalized ,it is a multi billion dollar industry world wide in the illegal market but that does not need new tokens for it,i do not see those coins lasting for a couple of years.

Already Bitcoin and other crypto is quite defamed and said to involved in various illegal activities. Such coins will destroy more reputation of cryptocurrency and provoke central authorities to either regulate it or ban it. There is already selling Marijuana and other cannabis on the darknet, I don't think there is any need to highlight dark use of crypto openly.

We have been talking dozens of times about cannabis/marijuana getting involved with cryptocurrencies but everytime it end up pretty wrong. All projects got to the point where something went wrong and then they disappeared without any informations from them.

I think the industry of cannabis can be very profitable, probably even better if blockchain technology is involved but it takes a lot of time and a lot of work to do that. Also the area where you can work and distribute your products is limited only in a few country but if you start now and build a great company in those countries you will have a recognized name and when other countries will legalize cannabis you will be the first one to create a company there.

I agree with you, they really want this bitcoin as a transaction, because transaction here transaction history can not be traced.

It has the future of all amoung currency. I know Marijuana will be legalize in the near future as it will be a billion dollar industry as we all know that se countries banning Marijuana but the potential is always there. Something big is coming in our way so watch out.

Oh sure. Especially when you look at the realities of today's market, crypto currency. This is a joke. Seriously, I think this is nonsense. Do not need a cannabis of blockchain.

Exactly, and it has no future, cannabis is only legal in a few countries (less than five if i am not wrong) so it is not as popular as it should be.

Also, the market for those countries is not as big as everyone thinks.

I didnt know it thanks for the extraordinary information to a newbie like me

Really? Thats a god news for cannabi and marijuana lover ecause if any country public it then it would also favour btcs as well

These altcoins are just using those items just for the sake of their popularity. They actually know that bitcoin can be the best coin for every type of purchasing services or items.

PS. This must be moved to Altcoin Discussion.

great combination actually -_-. One illegal thing is used to buy another illegal substance ;')

You are correct marijuana's are something that could go big in bitcoin. I know a ICO that promotes marijuana the cannabis in this forum are really in the place to promote and legalize marijuana in most countries in the world.

Long before there were any other cryptocurrencies other than only Bitcoin, the marijuana market was a thriving place for trades with Bitcoin. This dates back to 2011 when initial black markets emerged, offering illegal goods and services in exchange for Liberty Reserve funds or Bitcoin. The only problem here was the unaccountable scams with quality of items being delivered which was later fixed by adding feedback system.


What do any of these contribute towards the cannabis market? Honestly, as long as I see more of them tag-lining and aiming to provide highly quality 'stuff', I will continue deeming them to be shitcoins without a proper cause. Would rather prefer using an anonymous coin like Monero or Dash for the same.

In the recent past we have seen that there were some stocks related to marijuana in the United States which had a huge profit and raised almost 80% from their initial offers.

The thing here is that it is legal in some states of the US so they can get the profit which they earned, but if they come to the crypto currency market then what will be the status outside the United states, because crypto market has no borders and it is available in every part of the world. This will be the biggest question for them as well, lets see how they deal with this.

I think that if some countries (the USA especially) legalize marijuana at the federal level, then the blockchain projects related to this will appear even more. Governments have not yet developed there attitude toward blockchain itself and the crypto market in general.

Just a thought, for other countries maybe. Were marijuana is legal. But here in the Philippines, what I see is they will just abuse it. Some of the doctors are prescribing marijuana for medical use but there is a certain amount of grams or dose that they are allowed to use or to carry. So if a person is carrying a big dose and been caught by police here in the Philippines. They will be imprisoned and I think their is no bail when you caught carrying marijuana here. So I think industry marijuana in cryptocurrency here in the Philippines will not boom here.

probably such crypto-currencies will be banned, is not it too obvious violation of the law?

I don't think so that it is a good future in cryptocurrency, because we all know that all people are having different perceptions when it comes to marijuana. In addition there are some countries that will accept marijuana and there is some countries that are not accepting it. To those countries who are accepting marijuana is just because of the medical purpose unlike to other countrie, see's marijuana as an addicted drug that's why they no longer accept it. So in this case, marijuana will be good future in cryptocurrency based on the country's who wants to implement it.

It will surely be a great thing to use for dealing with marijuana, but only to areas where the plant is considered as illegal.

these cannabis industry related altcoins such as Potcoin, HempCoin, DopeCoin,... are usually getting pumped together. it is nothing new and it doesn't really show anything about their future in my opinion. it is just a simply pump and dump which comes and goes periodically.

and generally speaking limiting the usage of a coin is not such a good idea ever. specially to something illegal like marijuana!

Now in the chain of bitcoin are about 200 thousand of unconfirmed transactions. If all addicts will use to buy drugs bitcoin then maybe the world would be one problem less. It will be easier to quit drugs than to wait for the goods. Selling drugs for bitcoins is fake which is distributed by the bankers.

Marijuana is consider as illegal in some countries that why user of marijuana pay crypto currency so that they can be anonymous, they is the down side of crypto currency because it is being used for illegal things with having the hassle of an upfront payment.

The reason why majority of the countries could not legalized marijuana even though there were positive effects laid out by those people who support it (professional doctors and specialist), was due to other people that abuses it, which is the same reason why cryptocurrencies often misunderstood. The characteristic of digital coins being anonymous was one of its hindrances being legally accepted worldwide. Bitcoin was considered as the major currency of blackmarket sites whom majority of the products were illegal, including drugs were majiruana is categorized. If we can only eradicate syndicates that uses majiruana for illegal purposes, that will be time people will turn around their thoughts regarding cryptocurrencies.

Although the state forbids it but we can not assume the transaction is illegal, the principle of developed countries is regulating the dosage of use and tracking its movements regularly, marijuana and other drugs are also very important to the medical world and bitcoin will ease everything because its circulation is more controlled if it is also overseen by the government.

Aren't we making this just too foolish? We get any thing and we just make an ICO out of it? I know that marijuana is good but making an ICO or coin for it is really foolishness if one really wants to trade in it bitcoin is enough and if you think of raising an ICO for buying large fields to plant marijuana I think you are quite mistaken.

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.

I don't see why cryptocurrencies are needed within the legal marijuana business, these all had pumps because of news from Canada regarding legislation I believe. But it's a pointless area in crypto in my opinion.

I agree with your view on those coins. Unless there is really something inherently better in them in comparison to btc, they're really just for pump and dump.

Before I even got into bitcoins, I keep hearing btc is being used to buy drugs online so yeah, anyone already doing that would continue after legalization. Any idea if bitcoins are still used for buying drugs in Portugal or if the need for crypto decreased after legalization?

You speak the truth. Now all addicts to buy drugs used Fiat. Many of you have seen addicts who have bitcoins? Selling marijuana is illegal activity. Do you think that sellers will sell it prepaid? Lol. Bitcoin is not suited to make purchases. It seems to me that statements of this kind is a provocation.

Well you know the privacy and the non centralized part makes it easier for the buyer and seller to kesp their identities discrete and also .. you can easily.buy some weed and pay through bitcoins since its unregulated there has been no issues till now and the growth of people adopting this strategy is increasing so what you said here is correct.
Government needs to find ways to regulate it somehow

yes, I know about that potential use in the major darknet markets. But, would not it be good if one of those crypto just adopted in mediated marijuana industry  Thank you for suggestion

FTFY.  Only Bitcoin (and occasionally Monero and a couple other alts) are used on the major darknet markets.  

You don't need new cryptos for every major commodity and service.  All this other shit is good for pump and dumps and pretty much nothing else.

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As for Bitcoin's use in the weed industry, it's likely that people who have been buying with it on the darknet would continue to do so after legalisation.

It's also pretty likely that the demographics of weed users are quite similar to the demographics of Bitcoin users, so it could certainly become very popular among them.

Lets Discus!

recently, I noticed that some Cryptocurrency moves in the cannabis industry experienced a very large grow up this week. This cannabis plant is still a lot of countries that can not legalization and debate about this plant, Because this type of plant belonging to one of narcotics. recently. I searched for more information and I found interesting things that could be useful for treating gains in medicine, I also read an article that contained about marijuana plants in embroidered cloth (I'm not really sure about it initially  ).

this is cryptocurrency within the cannabis industry: (Potcoin, HempCoin, DopeCoin) I hope this helps