Quote from: az420 on October 18, 2014, 01:01:21 AM

Quote from: CryptoJohn on October 17, 2014, 10:20:28 PM

Quote from: az420 on October 17, 2014, 09:58:22 PM

I MUST be missing something!!
And when they say I can exchange 1 CANN for 1 gram of medical marijuana, does that imply ANY medical marijuana of any quality??? Cause HOLY COW, if that's REALLY the case then this is an AMAZING deal for patients! But surely any of you could understand my skepticism, right?
Thanks and lots of love!

You are missing something. It's obvious that you have not read the entire thread.
1) Yes you can exchange 1 CANN for 1 gram MMJ on 10/20 - how many times has this been said..
2) Canndy is a generic name given to the "strain of the week", if you will, that will be exchanged for CANN. The first strain is an "OG" Kush grown to be sold as "canndy". No you can not choose any strain in the store to buy with CANN. The amount of strains will expand along with the rise in value and adoption of CANN.
3) The state of AZ does not set the prices that MMJ can be sold at. Lets say CANN = $0.50 on 10/20 then the dispensary reports those grams sold for $0.50 each and can show electronically through the ultimate accounting device, the blockchain, evidence of every sale to back their in house accounting. Maybe you've never been in a dispensary but there are typically different prices for different strains whether it's $10gram, $15gram, $20gram or $0.50gram.
4) I'm sure there's some tax advantage to selling $15 dollars worth of MMJ for $0.50.

You should have spent all the time you used on the state of AZ website reading the relevant CANN thread.

CryptoJohn,

1) If the CANNdy "strain of the week" is not high grade medical marijuana, then I'm ACTUALLY exchanging 1 CANN for 1 gram of mid-grade medical marijuana that I didn't want and probably would never have bought if I were shopping at the dispensary.

Ironically, as the value of the Cannabis Coin rises, there becomes less and less incentive for patients to buy into them. Meaning, YES, buying 1 CANN for 6 cents and trading it for 1 gram of mid-grade marijuana is a heck of a deal!! Whereas buying 1 CANN for $10 and exchanging it for 1 gram of mid-grade marijuana is not such a great deal anymore.

2) Not allowing patients to choose ANY strain that is available for purchase, is what defines this Cannabis Coin as NOT being good for patients. Are you proposing that ALL 50,000 medical marijuana patients should instantly stop buying their medicine with USD, and convert to CANN instead?? "Seriously ill patients don't need the strain that works for them, they need the CANNdy strain from Herbal Wellness Center instead!" Are you freakin serious??? The idea is insane!!

I can not in good consciousness recommend to ANY Arizona medical marijuana patient that they should begin buying Cannabis Coins to exchange for their medicine, UNLESS they are willing to shop at the Herbal Wellness Center. I don't know how that concept has been lost in my rants.

3) My point is that if the Dispensary reports to AZDHS that they sold the gram of marijuana for .50 cents, then the amount of tax that the dispensary must pay will be greatly reduced because the tax is determined by the amount of the sale.

I'm concerned that it may be illegal for a dispensary to tell the State they received .50 cents for 1 CANN today, paying the State X amount of tax on that .50, and then turning around and exchanging that 1 CANN for $1.00 tomorrow. As I understand it, that meets the exact legal definition of tax evasion and money laundering.

4) The "tax advantage" that you speak of will require the patient to pay less taxes (which I'm for) and the dispensary to pay less taxes, but will result in the State of Arizona doing their best to make the dispensary owner's life miserable because you didn't pay them as much as they would have gotten otherwise.

We can all agree to disagree about the tax issue, but only if your argument is that the State of Arizona won't care that they'll be making less money for their greedy pockets.

Thanks for reading!

BINGO! ITS TOO EXCLUSIVE AND NOT BROAD ENOUGH...WHAT IS THIS A COUNTRY CLUB? cann is goood and all but lets be real...Maryj will more than likely explode in europe with cannapay on monday while cann will explode in the corner of 1 company office... i can see it now..1 Vanilla cupcake. 1 candle...then the fat chick walks in and the candle blows out

Cheesy