Re: [ANN] CannabisCoin [CANN][X11][Official][420] Developments & Discussions.
I think this coin is the best way for MMJ shops to operate. shit even illegal drug dealers will start to accept cannabiscoin for weed... its so much better than dollars. i actually think this Coin will revolutionize the whole weed industry in america, maybe even the world in the near future. Can't wait until Holland jumps on board this then I can drive up there n get some free weed 
I just wish i would've known about this coin earlier and had a better mining rig to support the hashing.
YES WE CANN!
I just wish i would've known about this coin earlier and had a better mining rig to support the hashing.
YES WE CANN!
Damadegyptian,
I also think it could be ideal for MMJ shops outside of Arizona (particularly California!!), but my concern is specifically related to Arizona Dispensaries.
The Arizona Department of Health Services Medical Marijuana Regulations have requirements for accounting principals that dispensaries must follow, amongst other requirements. The regulations aren't clear as to whether an Arizona dispensary CAN accept Cannabis Coin and then exchange it for USD.
Remember, Arizona dispensaries are also required to pay TAXES to the State of Arizona in addition to any taxes implemented by the county and city.
Dispensaries are also required to track and report each and every transaction with every patient to the AZDHS, including what strain the person bought, how much marijuana was purchased, and how much money was exchanged. (So that the State can electronically keep track of how much marijuana you buy, so that you can't possibly buy more than 2 1/2 Ounces every 14 days) So the idea of an Arizona Dispensary holding on to their Cannabis Coins would likely not be possible as the Dispensary is required to report the value at the time of the electronic transaction inside the dispensary.
Arizona Department of Health Services Medical Marijuana Regulations: http://azsos.gov/public_services/Title_09/9-17.htm
The fundamental problem is that Arizona's Medical Marijuana regulations we're written by an agency that didn't want medical marijuana in the first place. The Arizona Department of Health Services actually lobbied AGAINST the Arizona Medical Marijuana Act prior to it's passage. And let me remind you all that the Arizona Medical Marijuana Act was approved by a vote of 50.2% of Arizonans. No, that isn't a typo. The regulations were NOT written for the patients' best interest. It is generally accepted in the Arizona medical marijuana industry that our medical marijuana is awful.
Also, I wanted to know is there an incentive for an independent dealer to accept only Cannabis Coin and not just accept ANY form of crypto-currency like Bitcoin AND Cannabis Coin? (Or whatever coin the person happens to have for that matter)
Thanks and lots of love to you all!