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Tag: cannabis

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Thriving US Cannabis Industry Faces Bitcoin Ban No Comments

Marijuana, the wonder plant as some call it is going through a liberation phase in the United States. In 37 out of 50 states have relaxed the laws regarding the sale and use of marijuana and its derivatives in the past few years. Most of these states approve of the medical use of marijuana while a handful also makes an exception for recreational use. But these relaxations come with riders to make ...

Boom in Bitcoin Adoption by Marijuana

1620 Solutions Creates Bitcoin Awareness Among Cannabis Growers No Comments

Marijuana and other Cannabis based products may be legal in some states in the United States, but doing a Cannabis related business is not an easy task for many people. Even though the US Justice Department has clearly mentioned that it has no issues with financial institutions serving those involved in the newly legalized industry sector, the banks and payments platforms prefer to have it their o...

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No Banks for Marijuana Industry No Comments

Federal Reserve has officially rejected a financial institution’s request to serve the medical marijuana industry’s banking needs in Colorado. The request, that was filed in November by the Fourth Center Credit Union (FCCU), was seeking to create a “master account” that would act as an interactive platform between the state-licensed marijuana businesses and banking institutions. It had ...

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Bitcoin May Be Frustrating, But Marijuana-backed Coin Sounds Interesting No Comments

If cryptocurrencies like Bitcoin, Litecoin, and others, are too volatile for you, then maybe its time to look out for safer coins. Accepting the fact that Bitcoin and other cryptocurrencies have an inherent volatility risk, creative crypto-thinkers are working on numerous projects to create currency standards which will be backed by physical commodities such as gold, marijuana, and urea. The onl...

potcoin, altcoin

Potcoin Bullish over Future Development Plans; Surged 75% Last Week No Comments

Cannabis based cryptocurrency Potcoin had an impressive week in the USD markets, where its climbed around 75% amid a notable buying volume. Price Movements throughout Last Week As you can see the CoinGecko chart below, the POT/USD closed at 0.00117 on Feb 18th last week, after crashing from its intra-week peak level of 0.00137. The aforesaid closing point acted as a strong support to influence ano...

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How Big is Potcoin in the Cryptocurrency Arena? No Comments

The number of cryptocurrencies making their way into the financial spectrum is truly hair-raising.  It’s not just that there are so many, but many of us get a real kick out of the names they’re given and what it is that they’re used for. Some of them, such as HawaiiCoin and VikingCoin, particularly make me laugh.  Can HawaiiCoin only be used in the tropics?  Can you only use VikingCoin i...

potcoin, altcoin

Potcoin Value Falls Drastically in USD Markets 3 Comments

Cannabis-based cryptocurrency Potcoin has earned enough reputation as a cash alternative to medical marijuana businesses and users. However on the trading front, the coin is falling drastically against the USD. At the start of last week, the POT/USD pair was looking fairly optimistic. On Feb 8th, the pair was valued around 0.00121944 and rose comfortably to around 0.00137490 by the end of Feb 1...

Medical Marijuana: Industry that Needs Cryptocurrency (OP-ED) No Comments

A multibillion-dollar, “legal” industry like Medical Marijuana, whose network is spread across 23 US states and the District of Columbia, is still deprived of the very basic thing any industry would need -- a banking system. According to a report by Jeffrey Stinson of The Pew Charitable Trust, the cannabis centers all across the United States are finding it hard to obtain even a simple bankin...