Re: [ANN] CannabisCoin [CANN][X11][Official][2] Developments & Discussions
You probably don't know what you're talking about as it's PEGGED that means 1 CANN=1 GRAM even if price will be 10 satoshis per one cann, it should rise NATURALY after you will be able to redeem medicine for cann on multiple places.
Ok, so tell where i can buy 10000 kilograms, because i bought 10000 CANN.
I wait your answer
ps: to be serious, you can sell 1 gram for 1 CANN, but not for a long time
and actually there is no rule, if i want to sell 1 gram for 0.5 CANN i can do it and the price will fall but i will get a lot of patients.Actually Stoner, I don't think you do get it. CANNdy, the medicinal marijuana donated by ∆9, some other grower or the dispensary, is redeemable at the pegged rate of 1 CANN = 1 gram while any other marijuana/goods will cost you (price divided by exchange rate of CANN) CANN. In other words a $5.00 ball cap will cost you $5.00 worth of CANN, regardless of whether that amounts to 0.5 CANN or 5,000 CANN.
Specifically you need to note from the OP (bold mine):
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CannabisCoin is backed by Marijuana where it is accepted. The Cannabis Coin represents REAL medical marijuana specifically designed and grown by CannabisCoin Marijuana Cultivators. These specific Marijuana STRAINS are to be bought and sold exclusively with CannabisCoins.
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The Yes We CANN movement is about medical marijuana dispensaries and shop owners that participate in providing safe, affordable, and quality medicine utilizing CannabisCoin as payment. This movement is a way for dispensaries and shop owners to show their appreciation to their patients by donating some medication into the CANNdy inventory.
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CANNdy is a supply of meds that consists of strains grown specifically for CannabisCoin purchases and/or strains that can be purchased at the rate of 1 Cannabis Coin (CANN) to approx. 1 GRAM of medication.
Nowhere is it even suggested that you can or ever will be able to redeem 10,000 CANN for 10 kilos of marijuana.
Try being realistic in your expectations. In the U.S. marijuana is still Federally illegal and even the most permissive State legislation will not allow "open slather"* trade. At most you are likely to be permitted to exchange a few CANN for a few grams on any given day.
Nor is there any incentive to "under cut" the price of donated inventory, unless, of course, you want to give away a lot more inventory.... CannabisCoin is a token to direct mmj to patients at a steeply discounted price.
There is a chance that CannabisCoin will spread as a payment medium in lieu of cash as long as the Federal-State banking tension continues because banks are currently too frightened to handle marijuana accounts. That situation could change with an outgoing president or an incoming one, for that matter. You have to evaluate your expectations of future events for yourself.
* I'm told "open slather" is uniquely Antipodean, where it means "free rein" or "without restriction". I'm an Aussie, deal with it.