BitCanna, the new way to pay

[Rwise]

Doing lots of reading and searches, ran across this new bitcanna thing https://www.bitcanna.io/
Is this going to catch on? Many (seed places) like bitcoin, would this be more than a copy of that?
Do we really need another way to pay??

[starramus]

A lot of investment scams going on. I am sure Warren Buffet wouldn't invest in it.

[starramus]

Of course Warren Buffet got caught with his shorts down in the 2008 crash right along with the rest of the investor class. WTF does he know?

[Cocho]

Most of the larger seedbank offer BitCanna as a payment method now.
And I believe I read that one of the goals of BitCanna was to create a marked for the weed businesses.
For example; if you were to start a Dispensary, and you needed a loan to finance this but the bank don't want to get involved with "stuff like that", even tho you're living in a state where this is legal.
Then BitCanna (eventually) will be there for exactly those moments, helping people to get the wheels rolling.

I don't know for sure if this is 100% true, but that was what I read. And even though, BitCanna will be a good alternative to BitCoin, since a huge part of the BTC marked is floated by drugs, trafficking, terrorism and other bad stuff. So a smaller marked concentrated on only weed would be nice.

- C

[starramus]

Cocho, What is the source of your information? Would you post a link to the article? Sorta sounds like the BitCanna board (if they even have one) wrote the article. Follow the dollar. I haven't seen any of the seed banks advertising taking this crypto currency. Maybe a pep talk by the company owners? And besides too many cryptos out there already. They'll get lost in the crowd.

[Cocho]

"The global cannabis industry has been inhibited by regulatory restrictions for most of recent history, but the legal market has emerged rapidly as more governments legalize medical and recreational use. Due to the ‘shady’ image of the business, most banks, credit card companies, and payment providers won’t handle the money generated by the cannabis industry, even in places where it is completely legal. This leads to inefficient and costly solutions such as high bank fees and cash transactions, which only add to the shady image of the industry.

To address this problem, BitCanna will provide a decentralized payment network for the legal cannabis industry, by means of the BitCanna Coin (BCNA). BitCanna has already set up agreements with major companies in the European cannabis market, forming the BitCanna Alliance. The BitCanna Alliance works with legislators to solve the current paradox in the market. By implementing supply chain management and a trust & reputation layer, BitCanna aides legislators in creating a healthy and transparent cannabis market."

Just copied from their website (https://www.bitcanna.io/)

And Nirvana Seeds have the BitCanna logo on their website, stating; BitCanna, accepted soon.

Then again.. I haven't read too much into this. I just caught some interest in it a little while back when I saw the logo, and had a quick read while drinking my coffee.

- C

[starramus]

Looks as if some big money is going to try and corner the market. https://www.nirvanashop.com/support/ I didn't notice that "coming soon" when I placed my last order, but I pretty much ignore the crypto stuff. I have more faith in my credit cards. At the moment Nirvana only accepts Mastercard. Will Bitcanna take off, and will it be a less pain in the ass as has been the experience of many Bitcoin purchasers? After I set up my Coinbase account , and saw the fluctuation in Bitcoin from $900.00 to over $20,000.00 I said goodbye. Pretty much a Ponzi scheme. I still have my Coinbase account, but own zero Bitcoin. The market volatilities are on the increase, and the cryptos are no exemption. I will stay away.

[Cocho]

Time will show I guess. I use Bit coin when ordering seeds, but that is only because I need to do all this in secrecy due to my countries laws etc. If I order with a credit card they can trace the order and all that. Hopefully BitCanna makes it, giving us a option which does not support terrorists and criminals while providing a reasonable and stable currency.

[Rwise]

I am reading,,,,

[9fingerleafs]

The real issue with all cryptocurrencys is that in any moment could go up and down. Much more than dollars or pounds. If the main value of the currency disappears (like has happened) the value could plummet down. If you are only using this currency to do transaction that’s great. Just don’t go cashing your 401k and buy a ton of it