Re: [ANN] CannabisCoin [CANN][X11][Official][420] Developments & Discussions.
I have thought about this quite a lot, I still think 10 CANN/g is the best peg in the current crypto economy. 1 CANN I think will be too ambitious, it won't be able to hit nor sustain parity and all the scam accusations will come flying.
10 CANN/g put the current coin count under $100m market cap, which can be sustainable. The simple fact is the crypto sphere is not large enough yet, let alone the altcoin sphere, let alone the altcoin sphere interested in Cannabis to sustain anything over $100M cap due to miner dumps. Logic would dictate that if it was "valued" at ~$15 per cann people wouldn't sell for much less, miners will. There needs to be enough people buying PER DAY to counteract miners and traders selling for a profit, and there isn't enough money in altcoins to do so. The ambitious nature of 1 CANN/g might bring more customers in obviously, I still don't think it will be enough.
For those wanting a profit from holding, 10 CANN/g is still 100x roughly from here, and about 5000x from the starting price.
Voting for 10 CANN/g, just saying
10 CANN/g put the current coin count under $100m market cap, which can be sustainable. The simple fact is the crypto sphere is not large enough yet, let alone the altcoin sphere, let alone the altcoin sphere interested in Cannabis to sustain anything over $100M cap due to miner dumps. Logic would dictate that if it was "valued" at ~$15 per cann people wouldn't sell for much less, miners will. There needs to be enough people buying PER DAY to counteract miners and traders selling for a profit, and there isn't enough money in altcoins to do so. The ambitious nature of 1 CANN/g might bring more customers in obviously, I still don't think it will be enough.
For those wanting a profit from holding, 10 CANN/g is still 100x roughly from here, and about 5000x from the starting price.
Voting for 10 CANN/g, just saying
But that's verry hard..
Here is an ''WHAT IF'' :
What if this coin get verry populair and all people are gonna use it for buy goods in those shops, the price will automaticly rise up. What means people have to pay more for cannabiscoins.
You can not say, 1 cannabis coin is 1 dollar, because the price will only get higher when it's getting more populaire.
What means u will start with 10 cann is 1 gram, it can be that 2 years later 0.0001 cannabiscoin is 1 gram ( if u handle the same fiat / dollar / euro price )
If i buy now 1 million cannabis coins, the price will rise directly for other people. I or the dev's can do nothing about the rising prices for the coins.
So the only thing u can do is be fair, when price for 1 coin is rising, u ask less for 1 gram. When price is dropping u ask more cann coins for 1 gram..
Same is as in my country we can order pizza's for a long time now with Bitcoin, when 1 bitcoin was something like 20 dollar, 1 pizza was 0.3BTC ( like 6/8 euro ). That was the first thing i bought with my mined bitcoins. If i look now the price, i payed like 180 euro for 1 pizza
. If that shops still ask 0.3 BTC for 1 pizza, nobody will buy that pizza.So the prices keep changing due to the marketprice. But that's a good thing!
But yeah the prices u give 10cann = 1 gram.. We have to start somewhere dont we? So that's good