Colorado Pot Shops Do $1 Million in Cash or Bitcoin on First Day of Business
This week has been a long-awaited time for stoners in the state of Colorado. Since it's now legal to smoke marijuana legally in the state, a slew of pot shops have opened their doors today to clients. Approximately 24 shops have thus far opened, a majority of which located in Denver. But since banks are a bit iffy on the whole idea of transacting pot sales, well, consumers will have to stick to cash - or bitcoin. At least one shop is known to accept the digital currency. But if you think cash and bitcoin only is a hurdle, it most certainly isn't. New reports coming out indicate that these....
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September 9th 2013 the Colorado Department of Revenue created the final regulations for Marijuana use and sale, implementing the Colorado Retail Marijuana Code. January 1st 2014 the first official stores has opened for Marijuana sale. The twist however is that you cannot pay for the legal Marijuana with your VISA or Mastercard. You can only use hard cash or Bitcoin. Matt Miller from Bloomberg explains that: You can only spend cold hard cash, you cant pay for your weed even for medical use with a credit or debit card. I guess the Banks are unwilling to get into this business yet. The host....
Across the United States, cannabis operations are now becoming common. However, cannabis business owners from fully-legalized states such as Washington and Colorado are having a hard time cashing in on their frowned-upon weed businesses. According to Motherboard, one Colorado hemp farmer is turning to bitcoin and teaching others how to leverage the....
At least one marijuana dispensary in Colorado has reportedly begun accepting bitcoin. Colorado's decision to legalize cannabis has been filling headlines for weeks, and the hype is still going strong. Investors have been piling up in the marijuana market, ranging from reputable medicinal marijuana companies to highly speculative penny stocks. The general public seems to be very interested indeed - outside some dispensaries the queues of pot lovers are incredibly large, resembling the lines frequently formed in front of Apple Stores following an iPhone launch. However, there are a number of....
Despite this positive note, there is still a huge lack of understanding where Bitcoin is concerned. The correlation between Bitcoin and the hemp industry has been mentioned a fair few times in the past. But things are evolving in a very different direction compared to what people assumed at first. Various hemp farmers located in Colorado are suffering from issues with their banking partners. Bitcoin is offering them a way to continue their operations at a fraction of the costs. Growing and selling hemp is not illegal in Colorado. This creates new and exciting business opportunities for....
According to a British survey, many shops and consumers want to move on to a cashless society. This is an opportunity for Bitcoin. Whenever a cryptocurrency fanatic tries to tell you why cash is one of the worst ways to make payments, many people think it's his inner-fan boy talking. Why would he even recommend cash or say anything remotely decent about it? Well, the times, they are a-changin'. According to a grand survey, British people are losing their interest in cash payments. Even better, they think we are on the verge of a payments revolution. This could be positive news for Bitcoin.....