Market cap was 20 000 $ before few days actually it´s 670 000 $ why we shouldn´t be tradet at milions of $ for few days? It´s not impossible ... it´s real and more than possible it´s why it´s getting so hot cryptocoin in time when 99,99% cryptocoins are dying

Don't call it FUD. I just calculate and I said I don't believe in 83m $ cap for Cann.
I like Cann but I just don't believe in 1g = 1 cann and I think you need to be huge pothead to believe in 1cann=1g weed, but I'll be very happy to see that This is just my opinion, not FUD, so please don't call it that:)

It's not a fairy tail the devs shop will be accepting it for one and if I owned a shop I would buy a crap ton of CANN right now and accept it myself.  All it takes is a catalyst of proof that shops are honoring the peg for the price to explode so a smart shop owner would be loading up cheap, honor the peg to start the climb to $10, creating massive profit from coins bought before.  It would FAR outweigh the small loss of accepting 1 CANN per day from some customers.

For those still skeptical CANN can rise in value, go look at how Bitshares exploded to a 100 million dollar plus market value in just WEEKS

And how did it do this? Well one big reason is by pegging their crypto assets to the US Dollar!

It's dropped a bit and hovered around the 65-80 million range but that is still damn incredible and a sign it has good things to come, as will CANN.

Where CANN will prosper is by building out a whole ecosystem for new fiat money to flow into crypto and the daily revenue intakes from the medical marijuana market will create heavy buy pressure, alot more than a bunch of merchants with a wordpress store selling video cards and amazon gift cards for Litecoins for instance in 2013.

Just stepping in for Deltanine to help keep the conversation going elsewhere, alot of these questions have been answered already in the thread


The dev doesn't own any dispensaries, he is just a grower but he has a medical marijuana license. His license was posted in the thread earlier. Yes that is his facility.


His special strain, CANNdy will be sold 1g for 1 CANN at least at Herball Wellness Inc. in Phoenix. The hope is to get more dispensaries to exchange their product for CANN.
http://herbalwellnesscenter.com


I can't speak to this but i'm sure the method is no different than doing any other business deal, meeting with them personally (and he states he has met with several dispenseries) and trying to convince them it would be profitable for both parties.


No more or less for taking Bitcoin as payment for Cannabis. Even if there is some issues moving ahead, it is still a grey area legally and history has shown it is better to take action and beg forgiveness later because if you are intimidated by the feds for using cryptocurrencies you might as well get out of the crypto revolution now.


This same question applies to ANY alt. You think 95% of the coins on bittrex or Mintpal will EVER be signficantly exchanged for any goods or service? Unless they have a plan for real world use, they are only good for pump and dumps, that's it, and can never hope to bring in any real money to add value to them. This anon race is especially going to hurt alot of people, how many anonymous currencies does one need? There are going to be alot of losses when the dark markets decide what their most trusted currency is and the majority of other anon coins, no matter how much hard work was put into coding them, will die off.

But back to why use CANN coin over Bitcoin, well the issue with pegging is trying to reduce volatility. If a dispensary decides to accept CANN, the hope is the currency won't significantly fluctuate in price if they choose to hold onto it longer than a few days or weeks before converting to fiat. If you are a small company who has to make payroll and keep a budget and ensure a certain amount of turnover monthly to pay out your employees, Bitcoin is a horrible choice to get paid in because it has proven to drop as much as 10-20% in just the course of 2 pay cycles sometimes. The volatility is good for day traders and speculators but not practical for daily business use. There is a reason companies don't pay their employees in gold or silver.

Also another reason to use CANN, it will offer a discount to patients who pay with it, no doubt the value of this discount will be priced into the value of the coin. However there can be no discount attached by using Bitcoin because no one who runs a business will want to give away 10% of a product in Bitcoin for instance if a customer pays with that.

There will be one dispensary at first... I hope there is one. I think Delta Nine owns a dispensary?

It's not like a dispensary even has to talk to the CANN devs to get involved though. The coin is open source so you can do whatever you want with it. If a dispensary owner bought 5,000,000 CANN, they might be interested in supporting CANN by selling 1 CANN = 1 gram of their custom strain that they can grow for cheap. It would raise the coins value and they could make BTC by trading CANN.

I still don't understand that concept. Honestly. How can 1 CANN be = 1 g, 1g is like $10 or something. unless you put 1 CANN in your wallet. Print out the key, make sure the paper weigh 1 g and then roll it up and smoke it??

The "actual" price is what's on the market, boss.  Currently over 2300 sats.

That's a real price.

Everybody always talks about "actual" price and "real" price.  That's what the market sets.

What you have there is a price you personally feel is appropriate.  But that's all it is, a feeling. It's not "actual" in any sense of the word whatsoever.

People keep mentioning $10 as being the price of a gram.  I don't know about other states, but here is Cali most grams at dispensaries run $16-$20 a gram.  With the variation in EVERY club of their prices in grams between various strains they sell..........how is this expected to work?  1 CANN for 1 $10 gram, 2 CANN for a $20 gram?  I mean, does it really make sense to tie the coin to a gram rather than say $10 worth of weed at the dispensary?

Bitcoin is backed on electricity and market consensus.

CANN will be backed on market consensus like the street value of any drug. Why does 1 gram of marijuana generally have a consistent average price throughout the nation on both the legal and illegal markets? Because the invisible hand of the free market makes it so when sellers and buyers meet in the middle on what they think fair value is.

Economics will play a hand in CANN no different than any other product, as soon as we know 1 gram of cannabis can be exchanged for CANN, the market will start taking effect. You may have 1 person who is skeptical or disbelieves it is worth that, but as long as you have 2 more people willing to walk in to the store and exchange their coins at a certain price to get their medicine, then what is the 1 other guy going to do, FUD them and tell them they overpaid? He may still mock it but to them they got their medicine at a huge discount and they are happy. Then the next 2 people walk in and repeat the process, they might have paid a bit more on the exchange but they are still getting a good discount, word gets back and people on the exchanges start holding their coins hostage for a higher price because they know what it is worth.

I am just amazed at how skeptical the crypto community is to the idea of pegging a coin on a commodity for such a forward thinking group of people, I mean a good portion of you all bitch about the US not backing the dollar on gold anymore for christ's sake. Who decided that a Honus Wagner card is worth 2 million dollars? The true value of any product is what someone is willing to pay for it, I learned this well working in the auction industry.