Crypto as a tool (not investment) for Cannabis Growers

Smoker's Lounge Security & Legal
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&tldr:

I’m exploring a crypto education course tailored for cannabis growers to tackle common concerns. I’d love to hear about your challenges with crypto currencies.

Dear Members,

Many in our community share concerns about integrating crypto: whether it’s regulatory uncertainty, market volatility, security issues, or simply a lack of trust. I’m considering developing a crypto education course specifically designed for growers to help navigate these challenges.

I believe crypto should be one of the tools for financial health and serve as a personal safeguard against state-governed currencies. I’d go even further and say that everybody should be able to use it at a basic level and understand its basic principles.

I also believe it could add tremendous value to cannabis businesses around the world because it offers permissionless banking for businesses and improved privacy to their clients.

I’d love to hear from you! What specific challenges have you faced with crypto? What topics or practical guidance would you like to see in a future course?

Looking forward to your valuable feedback!

Best,
Joe

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I found this video really helpful after trying to read up on it and still having issues.

Also it is a way for people to launder and manipulate markets.

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@LemonadeJoe

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Crypto is slowly being taken over by big business and will soon be regulated in the same way as cash is now.

This is just my opinion

It is most certainly a go-to for laundering money

Not to mention, it is not nearly as anonymous as you might
hink

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I have no confidence of that, particularly given the current US administration.

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Soon, should have been eventually. I still think it will happen. I hope im wrong.

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Don’t know but if the quantum computer becomes a reality I believe that’s the end of crypto. As it is now at least. Never put all your eggs in one basket.

Probably better than cash in the mail though.

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I’m neither for or against crypto.
However, it was so complicated for me, (2010) to wrap my head around, I never felt my money could be safe, that some clever key board wizard could just swipe your wallet, or the contents and there is no recourse, for me to get it back. Yes, I was crazy for the crypto idea once upon a time.

There is no authority on the internet, for me to go to, if my wallet is looted.
Now, with AI, or imposter anonymous, as it should called, I trust FAR less stuff, on the internet now, more than ever.

Hell, I get 500 times more spam email, then real correspondence, AFTER, clicking SPAM a thousand times! I do not trust any internet providers at all.

When I bought land, I had a title, filed with the court house.
When I bought house, again title searched, and a deed, something in hand.
When we bought gold and silver, I had all that glitters, in my hands, to barter, sell, trade, for it’s value of the day.

Crypto, I got a string of number and letters, to show who?
Then to, what end?
Where is my value, if it goes blip into the night?
I’m not against crypto, but until I feel safer, I’m just watching.

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It’s a great way to make money but does it have a future as it is now in the decades to come? I don’t believe so… as A.I. and Quantum computers keep advancing the easier it will be to crack any encryption. Just look at Pegasus by NSO group, not even IPhones which supposedly have some of the best security are safe from that. By now there’s probably better spyware out there & anyone trading crypto from any device is at risk.

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For our purposes privacy in banking is probably a very good thing. But in general maybe not so.

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I see the value in crypto but at the same time, it fluctuates so wildly in value i dont feel comfortable equating it to a cash equivalent. I personally view it closer to gambling than investing.

I was becoming more hopeful but watching the value of bitcoin essentially drop off, 50-75% multiple times in the last 5 years kind of lead me to that belief. It’s relatively predictable, both rises and falls. Ive called a few of the booms with pretty good accuracy. And from what ive seen, when bitcoin drops, it brings down the rest of the market with it.

How can it become a financial device equivalent to cash without stabilizing the value?

And if the value is able to be stabilized, will it lose value since people no longer see it as a speculative investment?

Im familiar with crypto that is pegged to the USD, but by pegging it to a national currency, you’re removing aspects of the decentralization that were important for the original purpose.

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Gold is about 10x what it was 25 years ago.

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Great idea Joe! Thanks for posting this. I’m 2 minutes out of bed and 30 seconds from my first cup of coffee so this is likely gonna be edited (soon!). I won’t ‘push’ anybody that’s sitting on the fence, but might have a few helpful hints…

If you are a ‘new’ user, before you sign up with a centralized exchange, which mostly require the KYC (Know Your Customer) ID, think long and hard about ‘other options’! Your wallet, once connected to your ID, will leave a trail connecting you to any other wallet you send or receive funds to/from. It can be complicated, but there ARE workarounds!

If you have the option, buy a laptop that you only use for Crypto…no email, Social Apps, etc. Secondly, get a hardware wallet (or two) that you do NOT connect to the internet!

Learn to look at price charts starting with the longest periods first (monthly, weekly, daily, 4-hr, 1 hour). You will see the ‘bigger picture’ faster. Most/many people only view their charts in short time periods and the volatility only stands out more. The other plus of long-time-period viewing is the four year cycles (monthly, weekly, daily) become much clearer. It teaches you to ‘buy’ when it’s so bad that everyone is saying “It’s going to zero”! And to ‘sell’ when everyone is saying “it’s going to a million dollars”!

Realize that no matter how many videos you watch, books you read, podcasts you listen to - there’s no substitute for “time involved” (Think in terms of "how many 4-year cycles you’ve “experienced”)! Buy a ‘little bit’ at first, it’ll make you pay closer attention because you’re now ‘involved’.

I have a hard time with the “It’s only for money-launderers” arguments - name me one such thing where US Dollars weren’t used first! People may say it’ll never happen, but if/when the US Dollar crashes, having some value in stored in another commodity may be the thing that saves you!

Finally, remember that ALL ‘new’ technologies go through similar levels of adoption (Think; light bulbs, electricity, automobiles, radios, telephones, Internet). There are always “Early adopters” that ‘get it’, then slowly it grows until such time as the masses become involved…while it seems crazy (now) to think $100K might be “Only the beginning”, remember some people bought when it was pennies per BTC!

Good luck to you all! Stay safe!
:call_me_hand:

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I love it as a concept but the gummint taxes it like baseball cards so gives me major pause. IRS is the scariest monster in my head.

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But I could buy a Fiat with my fiat.

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If the dollar crashes/collapses the price of crypto will be the least of everyone’s concern haha

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I don’t believe I’ve seen anyone say that it’s only for money launderers (or that only they use it). Only that it seems particularly well suited for it.

I agree that new technologies take time to become widely adopted, however, it seems to me this would be more akin to a different kind of light bulb (eg, fluorescent, led, etc) than the light bulb itself. I understand that the technology for “new” kinds of bulbs may be new technology itself, but people are used to artificial lighting already.

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buy bitcoin ! dont buy out coins, the market has cicles, w8 for the low tides and enter the game ! have fun !

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Who appointed you? :rofl: And how would your fiat pay for a Fiat? :open_mouth:

Hey, I just stepped back in from the verandah.

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Haa, haa, haa…except for those ‘holding’ crypto! People holding Gold in 1929 came out pretty good! :stuck_out_tongue_winking_eye: People get hung up on the ‘dollar value’ of their crypto, forgetting that it NOT being dollars in itself is one of the best reasons for having (some of) it!

There’s NEVER been a currency that wasn’t ‘under the control’ of a Centralized power that can change the rules anytime they want. (Like just ‘printing more’). That’s one of the main differences, as I see it anyway.

:call_me_hand:

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