Buy Cannabis with Crypto?
I can’t wait for the day when we can pay for cannabis with Crypto. This could help alleviate the hassles of cannabis still being federally illegal so therefore most dispensaries cannot accept credit cards because the feds find out and they come and pull the machines. Even ATMs can get pulled from dispos if the feds find out. Dispensaries get their bank accounts shut down all the time and have to go through huge loopholes to pay taxes and other things not normally paid in cash. Since cannabis is federally illegal and money is based on the federal reserve system, there is huge issues with banking and money transfer in the cannabis industry.
Safety is a huge concern. Being robbed is a huge worry when people have thousands of dollars in hand at the store and have to transfer that money to a bank somehow.
Imagine buying cannabis with bitcoin and the ever expanding opportunities it provides. It cannot be stolen therefore it eliminates robbery and theft. There is easier access to bitcoin than banks for some people. Payment is fast, reliable, and secure. The federal government cannot shut it down because it is a worldwide system that we the people have accesss to.
Here is just a snippet of why I am passionate about Crypto and I hope you tune into @encryptdcouple to learn more about my passion for crypto currency and why I believe Crypto is gonna change this planet for the better!
there are already some cryptocurrency specialized on Cannabis:
Potcoin,
Hembcoin,
Dopecoin,
Cannabiscoin,
and some smaller ones.
Look it up at coinmarketcap.com.
I appreciate the info! I understand there are currencies in place yet manage a dispensary and I can tell you that we are extremely far away from being able to legally accept bitcoin or anything other than fiat. I do feel there is big changes coming, and it’s very challenging with the laws in place especially since even our state laws are technically federally illegal.
It’s awesome cannabis cryotocurrency is on the radar and I hope soon we will be able to utilize the technology.
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Seems like a logical step. Why is it not happening already?
The feds still have a hold on this because it’s illegal. There is a lot of red tape involved unfortunately.
Ah people just need to do it! The more we use crypto the stronger it becomes, in turn weakening the fiat!
I've been waiting for years for Crypto and Cannibis to come together but there is a big learning curve for most people. Actually Dispensaries can and SHOULD already be accepting Cryptos, which they could (nothing is stopping them) but unfortunately many people in Cannabis are not able to get up to speed on it. By the end of the year DASH is supposed to have a POS system that Dispensaries could use... so we shall see.
Steem on!
It will be fun to see how this develops! Very interesting stuff :)