CanadianMOM - The Mail Order Marijuana Forum

xsinx wrote: Sat Mar 09, 2019 6:39 pm The more options the better. I'm personally fine with EMT.

King Tuts wrote: Sat Mar 09, 2019 6:37 pm Hello Members,

I have been asked only a few times if we were going to have Cryptocurrencies as a payment option.

I was just curious as to how many of our members here would prefer it that way? Or maybe would switch if it was available?

Ragnarokie wrote: Sat Mar 09, 2019 9:33 pm

King Tuts wrote: Sat Mar 09, 2019 6:37 pm Hello Members,

I have been asked only a few times if we were going to have Cryptocurrencies as a payment option.

I was just curious as to how many of our members here would prefer it that way? Or maybe would switch if it was available?

If you're bullish on Bitcoin it'd be a great way to accumulate lol

King Tuts wrote: Sat Mar 09, 2019 9:50 pm

Ragnarokie wrote: Sat Mar 09, 2019 9:33 pm

King Tuts wrote: Sat Mar 09, 2019 6:37 pm Hello Members,

I have been asked only a few times if we were going to have Cryptocurrencies as a payment option.

I was just curious as to how many of our members here would prefer it that way? Or maybe would switch if it was available?

If you're bullish on Bitcoin it'd be a great way to accumulate lol

I'm not sure what that means. Invest in it?

urnapple wrote: Sat Mar 09, 2019 10:08 pm

King Tuts wrote: Sat Mar 09, 2019 9:50 pm

Ragnarokie wrote: Sat Mar 09, 2019 9:33 pm

If you're bullish on Bitcoin it'd be a great way to accumulate lol

I'm not sure what that means. Invest in it?

If you're feeling optimistic about bitcoin's future it will be a great way to get your hands on some instead of buying it directly.
I think I translated it correctly.
Offering crypto will be good for the guys who are sketched out by buying on the black market with their bank account and it's pretty hands-off for you once you get a wallet. There are payment processors for crypto as well but probably unnecessary as direct payments in this business are the norm anyway.

Speedgreens wrote: Mon Mar 11, 2019 1:03 am We've also looked into cryptocurrency as a payment option but the only way to offset the volatility would be to actively trade on the market which would basically turn into a full-time job to control.

The discussion on privacy is actually correct as wallets are anonymous and the cryptocurrencies can be purchased with cash at various shops/atm's. Also, certain cryptocurrencies are completely anonymous as that is why they were created in the first place (Monero, Zcash, Verge to name a few common ones). Bitcoin transactions are all completely traceable as this is the whole basis of the "blockchain", to have a full public ledger of all transactions. You can trace a BTC back to every wallet and every transaction that it was ever used for, although you would not know who made the actual transaction.

There are coins that are specifically made for the cannabis industry and are fighting to become the go-to. (Hempcoin, Potcoin, cannabiscoin)

If there is a demand for it we will give this option as we are quite familiar with cryptocurrencies but as of right now it doesn't seem so.

Ragnarokie wrote: Mon Mar 11, 2019 7:56 am

Speedgreens wrote: Mon Mar 11, 2019 1:03 am We've also looked into cryptocurrency as a payment option but the only way to offset the volatility would be to actively trade on the market which would basically turn into a full-time job to control.

The discussion on privacy is actually correct as wallets are anonymous and the cryptocurrencies can be purchased with cash at various shops/atm's. Also, certain cryptocurrencies are completely anonymous as that is why they were created in the first place (Monero, Zcash, Verge to name a few common ones). Bitcoin transactions are all completely traceable as this is the whole basis of the "blockchain", to have a full public ledger of all transactions. You can trace a BTC back to every wallet and every transaction that it was ever used for, although you would not know who made the actual transaction.

There are coins that are specifically made for the cannabis industry and are fighting to become the go-to. (Hempcoin, Potcoin, cannabiscoin)

If there is a demand for it we will give this option as we are quite familiar with cryptocurrencies but as of right now it doesn't seem so.

Fwiw guys, there are companies that offer services which allow you to receive Bitcoin and then be able to cash out immediately into CAD. Don't have to account for the volatility in the market as the transaction is 'locked' at the moment of sale. So you'll always get the dollar value agreed upon at the time of sale, so if Bitcoin dumps $300 or something in the 30mins it can take to confirm a transaction on the blockchain, that change in price wouldn't have an effect on the dollar value received by the merchant.

And although you're right about people being able to purchase BTC at local ATMs etc, this isn't widely used so most ppl with BTC in Canada have bought off exchanges which require KYC in order to buy crypto on their platform