Marijuana Dispenceries Starting to Accpet Bitcoin - page 2.

fonsie

sr. member

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Quote from: kwukduck on August 09, 2015, 09:22:22 PM

Bit coins market cap and trading volume won't be bigger. It's only getting smaller by the day.
I think we can see a stable price in the 30-50 range. Which I think is still insanely overpriced but I think there are enough fools to support it at that level.

Do you still occasionally meet the rest of the "DuckTales" cast?

Aren't you afraid that more fools will join them, the world is full of them after all, as you can see for yourself in the mirror.

kwukduck

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Bit coins market cap and trading volume won't be bigger. It's only getting smaller by the day.
I think we can see a stable price in the 30-50 range. Which I think is still insanely overpriced but I think there are enough fools to support it at that level.

xcrabber

newbie

Activity: 32

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For price stability
Couldn't they convert the bitcoin to nubit which is pegged to the dollar. When they need cash convert nubit back to bitcoin to get cash.

Disclaimer I have never used nubit.

Hunyadi

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Quote from: RyNinDaCleM on August 08, 2015, 04:09:21 PM

...because armored companies wouldn't touch that field and banks were shutting down accounts... So these people were literally sleeping on mattresses stuffed with cash. If they accept Bitcoin directly, it takes up no extra space and can be secured with encryption. It's win-win for them.

This is lovely!

gentlemand

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Welt Am Draht

Quote from: MBMGroup_Rep on August 09, 2015, 09:35:45 AM

The biggest problem though is price stability, that is crucial when running a business with overhead.

Then you might be out of luck as I don't think that's going away any time soon. If you're quick with your exchange sells then everything should be fine.

MBMGroup_Rep

jr. member

Activity: 32

Merit: 1

Quote from: RyNinDaCleM on August 08, 2015, 04:09:21 PM

Quote from: gentlemand on August 08, 2015, 03:18:31 PM

I hope they're not using a processor like Bitpay because they'll get shut down just as quickly as a conventional bank account.

I would imagine that they would take it directly.
For the last 2 or 3 years there have been many reports about dispensary operators carrying around bags of cash because armored companies wouldn't touch that field and banks were shutting down accounts... So these people were literally sleeping on mattresses stuffed with cash. If they accept Bitcoin directly, it takes up no extra space and can be secured with encryption. It's win-win for them.

I own a compassion club. We have been thinking about converting to bitcoin for this exact reason. Bitcoin seems like a much safer viable solution. The biggest problem though is price stability, that is crucial when running a business with overhead.

OgNasty

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Leading Crypto Sports Betting & Casino Platform

Quote from: kwukduck on August 08, 2015, 03:18:16 PM

The more bit coin is used for illegal and harmful trades the worse it is for the future and policy that will be applied to it by governments and banks in the future.
So it's a bad development I think.

Buying legal natural medicine is bad? Brainwashed you is me thinks.

RyNinDaCleM

legendary

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Legen -wait for it- dary

Quote from: gentlemand on August 08, 2015, 03:18:31 PM

I hope they're not using a processor like Bitpay because they'll get shut down just as quickly as a conventional bank account.

I would imagine that they would take it directly.
For the last 2 or 3 years there have been many reports about dispensary operators carrying around bags of cash because armored companies wouldn't touch that field and banks were shutting down accounts... So these people were literally sleeping on mattresses stuffed with cash. If they accept Bitcoin directly, it takes up no extra space and can be secured with encryption. It's win-win for them.

gentlemand

legendary

Activity: 2590

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Welt Am Draht

I hope they're not using a processor like Bitpay because they'll get shut down just as quickly as a conventional bank account.

kwukduck

legendary

Activity: 1937

Merit: 1001

The more bit coin is used for illegal and harmful trades the worse it is for the future and policy that will be applied to it by governments and banks in the future.
So it's a bad development I think.

MBMGroup_Rep

jr. member

Activity: 32

Merit: 1

Whats everyone's thoughts on the recent reporting that marijuana dispensaries are beginning to accept bitcoins and take advantage of its usefulness.

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