Is anyone using Crypto currencies like Biccoin, Potcoin or Etherium?
I am curious about which ones are the best, easiest and most popular.
I assume this will add a level of protection to black market sales.
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Like any other stock exchange system there are thousands of crypto currencies available. In this case the performance history is relatively short, and in many cases the returns of the last 12 months have been incredible. The question is if that’s an indication of future performance. I recommend an app called COINCAP which shows about 1,000 currencies, and allows you to sort by market cap, price, volume, etc. It’s very interesting.
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So, is that a yes, you have used crypto currencies for cannabis transactions?
I know what they are and I own a couple of them myself. I am interested in having transactions that cannot be traced and want to know if they work well in our market.
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Oh no, I haven’t used crypto currencies for cannabis transactions or for any transactions at all. I thought you were referring to investing in currencies that support the cannabis industry. There are a few of those. HempCoin - I think, and some other.
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Cryptos are fun. Let’s just say that. For me, cryptos feel a bit like sitting at a roulette table; but I don’t get the sense they are like other traditional investments. I am, however, treating them just like I would any other class of investment in that I don’t invest emotionally nor do I invest money I’m not willing to lose. When considering risk tolerance, I would venture to say you should be willing to lose it all on cryptocurrency…like putting it all on black…with that being said, I believe cryptos can be part of a well-diversified portfolio.
I have talked to people who told me they took out a second mortgage on their home to buy cryptos; this is not only stupid, but insane as well. If you simply own cryptos and are banking your retirement solely on their value, I wish you well on this journey into potential financial ruin (or vast wealth, I could always be wrong here). When I buy cryptocurrency, I treat it like a traditional stock portfolio and diversify the crap out of multiple cryptos. I buy everything registered on coinbase and a few others as well. I watch market trends and buy low and sell high based on the performance of the crypto. I also divest my principal when the investment hits certain milestones in an effort to always preserve my hard-earned money.
If you use cryptos in cannabis transactions (which is totally cool in my book), remember this: pay your taxes! Don’t use cryptos in some attempt to bypass the IRS. These transactions encompass digital data and the IRS employs the top accountants on the planet. They will find a way to find your hidden money. This will ultimately hold true for crypto-based cannabis transactions as well. Al Capone was never incarcerated for racketeering, murder, nor illicit alcohol or narcotics manufacturing, he was, however, sent to Alcatraz for tax evasion.
It’s exciting to increasingly see cryptocurrency entering the U.S. market as an alternative form of acceptable currency. I’m encouraged when companies like Growers House (@Nate) accept Bitcoin as payment in business transactions. This will help stabilize and normalize cryptocurrency.
Friends, invest wisely! Happy trading!
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My current Crypto portfolio contains the following coins: Bread (BRD *$1.47 ), Tronix (TRX *.03 cents ), Ripple (XRP *.65 cents), Lend (LEND *.16 cents), Cardona (ADA *.34 cents), and POET (POE *.09 cents). I have done extreme research on all my coins, and fortunately got into these coins fairly early. My recommendation is to study the tech, team, roadmap, ext. before putting any money into a coin. Study the coins all time high price, along with what its ICO price was. This will give you a good ballpark frame to allow yourself to know when to buy in. Use your charts and activate your bollinger lines. This will let you know if its a good time to buy, or to just wait for the drop.
Every coin I mentioned has really cool tech, followed by a well constructed team and roadmap. With this being said, I’m not a financial advisor, these are just suggestions about the coins I have researched and actually put money into. Put in money you don’t care about losing.
Future coins coming out that I cant wait to get into myself: Nucleus Vision, Bluzelle, Props Project, Dadi, and Kairos.
Buy in price*
BRD is currently trading at $2.78
TRX is currently trading at $0.16
POE is currently trading at $0.17
ADA is currently trading at $0.87
XRP is currently trading at $2.80
LEND is currently trading at $0.36
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DASH is an interesting coin that is making a play in the cannabis space. They have plans to install DASH ATMs in dispensaries and recently partnered with Medicinal Genomics on the CannMed2018 conference.
They have a really interesting model where the master nodes invest money back into growing the DASH brand and improving the technology. They grant out money for project to people who submit proposals. Medicinal Genomics just recently got funded by DASH.
Unlike some of the other lesser-known coins, they actually aim to be a currency, and are focusing on being able to handle fast transactions (hence the name).
Full disclosure, I work for Medicinal Genomics, so I like DASH. I’m also not a crypto expert. I’ve got some money in the big coins (BTC, BCH, LTC, ETH, DASH), but all I know is what I’ve learned from talking with our CSO. He is in DEEP. Here he is speaking at the Texas Bitcoin Conference last year.
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