Post
Topic
Board Announcements (Altcoins)
Re: [ANN] CannabisCoin [CANN][X11][Official][420] Developments & Discussions.
by
Skydog
on 07/09/2014, 13:22:31 UTC
Am I the only one here wondering about the economics of this entire thing?

We have an maximum amount of 106,000,000 coins with currently 21873600 coins being mined. With a pegg of 1:1 and an assumed price of $10 a pegg the current coin supply would be worth $2187360000 worth of coins or in other words twohundredsevetysixmillion dollar or in other words more than all other altcoins together. However, the current price of the coinis $0.015 or 1/10000 of the given pegg. Now when people are coming to your business and starting exchanging CANN for candy are you going to sell them the price at a lose? Do you believe the price will rise this extreme until you start exchanging the CANN for candy? How are you planning this to happen with so many people holding and trading with the coin? How are you dealing with vortality?