CannabisCoin Strikes Back…?
More Like CannabisCoin Strikes Out!
What the hell happened…? Seriously…what just happened with CannabisCoin? Not sure what happened (just yet). Maybe we won’t ever know what happened.
But for some, it may never be forgotten — good or bad times.
It was a like a scene from Jaws.
I should have heard the theme in my subconscious background, but for some reason my common sense wasn’t tuning it in.
If you weren’t expecting it, it’d probably come as a major disappointment. But for some of us, we knew the party wouldn’t last. Unfortunately, the “party trashed the house” and now, some are with even less than before the price spike happened.
You can say it…go ahead.
However, that’s the way the cookie crumbles.
But really, how do feel about investing in a company whose founder/creator prefers to stay anonymous and goes by a “code-name”? The founder/creator of CannabisCoin goes under three digital names:
How’s that for trustworthiness? Notability? Honor?
It could be the reason why we occasionally see price drops like this.
It could be. Anonymity doesn’t help when your goal is to have legalized marijuana in the United States.
CannabisCoin isn’t the only marijuana cryptocurrency whose founder/developer/creator lurks in the shadows. PotCoin, who comes out of Canada, is another. Although the PotCoin website states that Joel Yaffe is the founder, a prior Wikipedia page shows that there are three. They go by the nicknames:
- Mr. Jones
- Smokemon 514
What’s CannabisCoin all about?
- CannabisCoin is a peer-to-peer cryptocurrency which connects well-trusted, licensed and registered marijuana dispensaries and enables them to sell marijuana in states, counties, cities and towns where it is legal.
- It was designed to resolve payment problems for the marijuana sellers. Since most financial institutions depend on the federal government to stay in business they simply, absolutely will not do business with companies who deal with a federally illegal product such as marijuana.
Hemp is LEGAL in the United States since the 2018 Farm Bill signed by
President Donald Trump. However, this hasn’t legalized marijuana.
- The developers had first stated that 1 coin of the CannabisCoin cryptocurrency, called CANN, would be equivalent to 1 gram of cannabis. I don’t believe that’s still the case but it’s pretty gnarly none-the-less.
- CannabisCoin developers started the very successful movement called “Yes We CANN”. It’s mostly about wherein medical marijuana dispensaries would be able to provide safe, affordable, good quality cannabis at the rate of 1 CANN per gram of cannabis. The marijuana that was sold during the movement was called CANNdy.
- Unfortunately, CannabisCoin is a Proof-of-Work cryptocurrency, which means it’s slightly flawed. However, being that it’s based on the “BitCoin protocol”, CannabisCoin made a few tweaks of their own to help deal with future problems.
- CannabisCoin was specifically made to target a group of people who consume marijuana for not only medicinal purposes but recreational enjoyment as well.
- CannabisCoin is easy to mine.
- Cannabis strains grown specifically for CannabisCoin by growers or strains kept aside by growers and merchants for sale during the ” 1 CANN for 1 gram” special. I think another event may be in the future.
The Legalization of Marijuana will eventually come. The United States is missing out on so much ca$h it’s almost ridiculous. The two countries that are above and below the United States (Canada & Mexico) have legalized marijuana (with exceptions, of course), but plans are being made in these two great countries that will soon make the US join the rest of the continent and it will become legalized and regulated much like alcohol is monitored today. The United States will jump on board…eventually.
And it will be glorious!