CRYPTOCURRENCIES USED IN THE WEED INDUSTRY TODAY
What are the best cryptocurrencies to use for cannabis purchase and business?
"The litmus test for a cryptocurrency, is it favored by criminals on the Dark Web? Dark Web users are often among the most tech savvy people on the planet. If the Mob uses something or somebody, you can expect performance under stress." - Johnny Rodriguez
The cryptomarket or Darknet market, is an anonymous online product and service bizarre that uses cryptocurrency as its main medium of exchange. While everyone has heard of Bitcoin, the most popular cryptocurrencies on the Darknet markets are Litecoin, Zcash and Monero.
It is a great time to be alive, that is if you like excitement. Only months ago, an obscure currency called Bitcoin took the world by storm, where overnight, investors or holders saw their thousands of dollars turn into millions. Donald Trump was elected president, something that was previously seen as a million to one long shot, that is by the general public.
Then we have Facebook and Google being busted and exposed for collecting and selling all their clients information, to any government, agency or company who pays the price. Then, you have the democratic party collapsing under charges of pay for play with anyone and everyone. There has been the near total collapse of the mass media, where stations like CNN have to pay airports, bars and hotels to air their bla,bla to a generally disinterested audience.
Within this series of revolutions, we have cannabis being legalized across the country. With the acceptance of cryptocurrencies by banks and even the IRS (they only want your tax dollars) and the new generation, cryptocurrencies are here to stay. Experienced professionals disagree however on which form of cryptocurrency will dominate, for future results hinge on both logic and chaos theory.
"The irony is that the average Russian hacker does not give a shit. Sure, they keep their identity private using a number of effective ways, but when it comes to crypto currency, they don't really care so long it's a major one, like LiteCoin and Etherium . The Russians have no fear of their government hitting on them so long as they don't mess with other Russians, meawhile, the Americans are terrified of their government, just like the Russians feared the communists. Welcome to America.." - Johnny Rodriguez.
When Bitcoin went through the roof, there were several large purchases of Bitcoin, probably out of of China. Bang, a $10 million drop on bitcoin, followed by a $50 million dollar drop. Then the rollercoaster started churning at high speed, where the general public started to get in on the action. People started dumping 10 grand from their credit cards, and up up up bitcoin went. Now the fundamentals of any stock or currency can be very sound, there comes a time when it becomes overpriced. Now, in the long term, Bitcoin might eventually be worth much more than todays prices, but it was greed and insanity that brought it up to $20,000 per.
CRYPTOCURRENCIES PLATFORM - THE HIVE - PEER TO PEER COMPUTER NETWORKING FUNDAMENTALS
Mining for those that don't know is the process where a user gives up their computer. They go online and run a program that statistically will give them some digital coin. In turn, the user's computer becomes part of the hive, where it is used to perform transactions.
Each transaction record is checked in a great number of places (peer computers) in a way that cannot be hacked. It is like if you made a deal, and everyone in the room heard and wrote down, like a perfect robot, the amount, date, etc. Then when the transaction was executed, everybody checked the figures, and if everybody agrees that all is in perfect order, the transaction is complete.
CRYPTOCURRENCIES THAT ARE RISING IN USE IN THE CANNABIS SECTOR
We'll start with Potcoin, and we're going to give it a big thumbs down. While people made money on the coin, the market cap - which is the total market value of all the coins in circulation has bounced up and down like a yoyo. The investors are primarily speculators and small timers, not Chinese billionaires. The Weed focused cryptos have collapsed and the public greatly favors Bitcoin, Litecoin (LTC) Litecoin, Ethereum (ETH), Zcash (ZEC), Dash, Ripple (XRP),Monero (XMR), The Bottom Line for their cannabis or any other transactions.
Only a few months ago, a lot articles appeared on the net praising Dopecoin, Potcoin, Cannabis coin, but realize that most of these people are blogging from their parent's basement. The Potcoin market cap floated from a few hundred thousands of dollars to thirty million back town to fifteen million. Dopecoin came out of nowhere to hit a market cap of thirty million dollars and then backed off to five million.
It is not impossible for these niche-cryptos to rally again. If the dark web users gravitate to one of these weed cryptos, then you will see action, players will make a lot of money. Other things, like a celebrity coming out in favor of a particular currency will cause a lot of small players to jump on the bandwagon, and if you had advance warning of a celeb promotion, say a popular late night, then that could be useful investor info.
However, outside of having real quality insider knowledge or info, we would stay far, far away from weed cryptos, or invest not more than a week's pay at best.
RIPPLE - A CRYPTO ON THE RISE IN THE CANNABIS SECTOR
Ripple is different than Bitcoin and most other cryptocurrencies, where the whole operation is completely decentralized. There is no one entity who oversees operations, transactions, it is the group, the hive that is key in what is known as peer to peer, or blockchain as the technology is known.
RIPPLE IS DIFFERENT FUNDAMENTALLY TO BITCOIN
Ripple has a centralized platform and currency is not mined. This type of platform by its very nature is preferred by the power's that be. They can control it, audit it, and milk it for fees, and whatnot. Nonetheless, as a cryptocurrency, it has the advantage of being capable of micro transactions. The alpha players, meanwhile go for freedom and privacy oriented cryptos.
We predict that there will be good investment opportunities for the winners of both the centralized and decentralized cryptocurrencies. So, with that as a premise,we believe Ripple's future will be in the hands of big corp. If they decide to back it, Ripple is here to stay. If not, the alpha public who controls popular opinion on the free net, certainly won't be backing centralized planning.
"I don't like Ripple." - Johnny Rodriguez
RIPPLE STATS - APRIL 2108
BLACK MARKET USERS ARE HIGHLY INFLUENTIAL
Darknet or the online black market, understandably, cryptocurrencies that offer anonymity in transactions. Ironically, the Russian market, who are particularly tech savvy, who does not seem to care too much about their ultimate secrecy in terms of payments received or made. The Russians prefer the somewhat mainstream Litecoin, Etherium and of course Bitcoin will do finely, thank you very much. Of note for the Americans who prefer the ultimate in privacy, Litecoin is scheduled to introduce changes that could yield total privacy to its users.
This is a reflection of the times, where the US and the Western people are under intense spying and scrutiny, while the Russians don't fear the authorities so much anymore. This phenomena is a 180 degree turn from 50 years ago, where intense paranoia about the government was a complete necessary to survive, and not end up in a Siberia coal mine.
You might call black market, buyers and sellers a bunch of criminals. Well, if you work for cash, and don't report the income, you're by definition, a criminal. If you sell organic milk without a permit anywhere in the west, well, you're a criminal. In the former Soviet Union, the official system was so bad that literally everyone outside the top Communist Elite, had to go to the black market, for fresh fruit and veg, jeans, music, you name it.
On the Dark Web or Black Market Web there are surely some real criminals. On the Silk Road Website you could buy any drug known to man, and have it delivered to your door, in a remarkably efficient and reliable way. Rip-offs too were rare, due to a peer to peer advisory system with integrity and an escrow system, where the buyer puts up the cast, it is held until the buyer receives the goods. However the buyer cannot get his cash back from holding unless the was an issue. This criminal activity was generally very honest in the sense that the buyer and sellers were commonly satisfied, and this is why the Dark Web Black Market thrives.
So, the Black Market trends affect everyone, directly or indirectly, for the favored crypto currency of these users must have the best features; privacy, integrity, stability, exchangeability.
The Dark Web has more or less dumped Bitcoin, where transactions have dropped from 30% to 1% of transactions. A lot of people thought that Bitcoin was untraceable, but that is not true at all. Bitcoin is 100% traceable to a Bitcoin Wallet (a virtual wallet that contains users Bitcoin). All you need to do is tie the wallet to a name, and while difficult to do, it can be done, and is now done by people like the IRS. Once the Dark Net community got wind of their exposure, they've dumped it like a hot potato. This is also why the IRS does not mind bitcoin. At the end of the day, its much easier to trace than say paper cash. And this is why the powers that be want to do away with paper cash, there can be no cheating on their system if they control all transactions digitally.
Today, the cryptocurrency that is most often used is Monero. Monero trending to take the place of Bitcoin on the Dark Web along with the other candidates listed here. Monero is popular because once a transaction is verified for the buyer and seller, the information about the account balances remains, but the link between buyer and seller is not retained, which means there is no audit trail whatsoever.
“Whether Monero grows further, to displace bitcoin as the crypto-crime currency, depends on its adoption by new Darknet markets, which are emerging following recent shutdowns, and improvements in the user experience of buying and transacting in Monero.” - Philip Gradwell, Economist
The advantage of Zcoin, along with the superior security and safety of transaction of blockchain technology, is that upon the verification of a transaction, the history is destroyed on the peer to peer network.
This is a feature desired by privacy seeking citizens and criminals alike. In the case of the purchase of cannabis over the internet, in a cannabis legal state, citizens do not want the Federal government putting their name into a file, information that could affect their employment status or ability to seek government assistance. And of course, in theory, a US citizen has the right to keep his purchases private provided there are no taxable consequences and the product is legal.
On the other hand, ZCoin and other cryptocurrencies will aid criminals with untraceable transactions. Then again, the entire planet used cash primarily for almost all if its history, and cash transactions were always difficult to track. So, in this way, there is nothing new under the rainbow.
Market Cap - April - 2018
Litecoin would be our second choice as a cryptocurrency choice in the cannabis business.
There are a lot of smart people wonder why Litecoin is not taking over from Bitcoin, because of its many superior properties.
Faster transaction times
Less expensive transactions
Instant, zero-fee transactions
Cross-chain atomic swap (with Decred)
Adding confidential transactions
Faster to adopt new technology
Dash has a lot going for it, a couple of million goes into development monthly, transactions are much faster than Bitcoin, it's never been hacked, it's going global, and its decentralized. This currency while popular on the Darknet is used far more on the open net, by your regular crypto-Joe.
Market Cap - April 2016
Etherium is an improved version of Bitcoin, and the second biggest coin on the net. This crypto offers superior security and performance, but ultimately your transactions can be tracked by a third party, but they will need to dig deep. At the end of the day, Etherium is far more private than your credit and bank account info, which the government has at its fingertips, at all time.
Etherium is our choice as the best currency for the cannabis business, it's big, it's stable, it's proven, it's secure and its legitimate.
MMJDOCTORONLINE Notes: Medical Cannabis Patients pay up to twenty five percent less than recreational users in California. If you present your Cannabis ID card at your dispensary, cannabis club, online delivery service or other supplier, you will be exempt from paying much of the State Cannabis tax. 420 Evaluations in California can be completed online. The process takes only a few minutes. Just describe briefly your conditions and symptoms and a licensed medical doctor will review your file on his tablet. Patients don't pay unless they are approved.
Your Cannabis ID and 420 recommendation are sent in the mail and arrive in 2 to 3 business days.
Weed is legal, and buying on line is legal, still you might want to keep your business to yourself. Here is how to do it.
While the States and Federal Government sort our marijuana legal issues, you want to stay clear of getting on some kind of list in error. If you buy marijuana over the web, whether it be from a local delivery service or a supplier from across the state, you certainly want to protect your privacy. In fact, in the age of the hacker and identity theft, you should protect yourself at all times using the methods described here. Buying marijuana on the so-called dark web market is a common activity nowadays and is as easy is buying on e-bay or amazon.
"Beginners are advised to start small and avoid buying from suppliers dealing with potentially illegal goods."
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All told, the global market for cannabis probably around $300 billion right now and if the pharmaceutical industry opens its arms to cannabis based medicines, combined with other markets with legalization (lke Asia) opening up, marijuana could be a $1 trillion dollar per year business. As of the end of 2017, about half of the US medical marijuana is legal in about half the country. Recreational marijuana is legal in about one-fifth of the country. Currently about 95% of the market is untapped by medical marijuana producers.
As governments and banks muddle around with commerce policies during the transition to near total legality of marijuana across the globe, vendors realize that Bitcoin can make life easier,
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The peer to peer network is created by Bitcoin miners. Bitcoin miners allow the system to use their computing power to run the system and they are rewarded Bitcoin in return. In the beginning Bitcoins were mined easily, but as the value went up and there were more miners, the program automatically made it exponentially more difficult to mine bitcoins.
Six years ago, the average person with a computer might have mined a few hundreds of dollars worth of bitcoins per month. Now, Bitcoin mining is both a cottage industry and a big business, where huge factories containing hundreds of thousands of special computer boards mine away, making millions upon millions of dollars. In this strange twist of fate, where anyone can be a miner, there is no application fee, no authority to tell you cannot do. it is not the elites who cashed in to make millions or even billions of dollars, it was the hackers, people who took a chance, people in the know, but definitely not you conservative know it all type person.
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By 2026, experts predict that the American marijuana industry will reach a market valuation of $50 billion. At the same time (late 2017), the value of bitcoin reached about $18,000 for one coin. Many Companies try to find common ground for the markets of all those new “coins” and marijuana.
Thanks to this, the longtime problem of payment may soon be resolved. Because of the restrictive legislations on marijuana, a lot of vendors find it hard to accept other means of payment apart from cash. But with bitcoin, they can now accept payments with more flexibility. The big issue here is that federal laws restrict financial transactions on marijuana. This is a severe hindrance to the marijuana industry. As a result a lot of banks and big players in the financial sector do not allow Cannabis vendors to open accounts with them. These restrictions still occur even after the legalization of marijuana for medical and recreational use by various states.
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