You all better hope this coin doesn't follow the usual "buy on rumour, sell on news" crap that so often happens...........otherwise by end of day tomorrow (Oct 20th), this thing will be back to 5k sats, or less. just going by history here of how this market works, it'd be nice to see this thing take off even more but who knows.
Yes I agree there is a usual pattern of "buy on rumor, sell on news" but in this case the news is not a coin feature which we are speculating on but the adoption of a coin by merchants in an industry where they are quite often forced to use cash only.
Has anyone seen the the CSI episode that had the dispensary being robbed and that it was a target due to having high cash volumes?
Even in the mainstream media they are picking up on the fact that these businesses have a target on their backs with a cash only trade.
Although the focus in this forum is from a cryptocurrency perspective there will we those in the retail business who are watching to see
if they can put this into action for themselves.
This is a growing multimillion dollar industry that in hind sight people will say was a no brainer to invest in. From this perspective though it is as risky as hell and there is nothing to do but hold tight and enjoy the ride.
If this pays off it is going to be the story of a lifetime.
Personally I think it's inevitable that we are certainly witnessing a "buy on hype, sell on news" scenario and will see a similar drop as described above. There simply will not be enough of a market initially to sustain the prices people are throwing around foolishly like 1-5 bucks by tomorrow. I definitely think CANN.......CANN achieve a price of $10-$20 but it will take much more than a few grams being sold on a 1:1 ratio!! It could of course spike WELL above what it is now, but to say it will be even a dollar is ridiculous as there would be VERY few coins sold for the spike amount so to say it even hits a single dollar does not mean people would be able to sell their holdings for a dollar a coin.
This project is also highly dependent on growing plants that we already know is in its first round, still in vegetative growth! This is NOT going to make people rich tomorrow:-)
Tomorrow is nevertheless an exciting time for CANN and for crypto as a hole. As for the value, I hold no high hopes for tomorrow.......but it could be a start to something our children may read in their history books. What IS exciting as hell for me is the potential of where CANN may be in 4-6 months!
