Marijuanacoin Is The Country’s First Marijuana Cryptocurrency
While marijuana use is legal medicinally and recreationally in a variety of states, it’s still federally illegal. That actually makes it hard to legally pay for pot. While the illegal trade has always dealt in cash, turning that legal corner meant everyday people who rely on plastic and paperless payments flooded dispensaries.
There are a handful of alternatives to paying with cash. Most dispensaries have ATMs on site, which still equates to cash business and cash handling. There are also companies like CanPay providing payment services for marijuana dispensaries.
What about people that want to use cryptocurrency to pay for their marijuana purchases. There are a few ways to use Bitcoin to pay for pot. But now, there’s also a cryptocurrency for marijuana.
Marijuanacoin launched on January 20th. While fitting that it was Inauguration Day for Donald Trump, it was also the day they finished of their platform base. They also launched a webwallet that they developed themselves so that you can keep your marijuanacoin safe.
Like other newly minted cryptocurrencies, Marijuanacoin took investors in the beginning in a presale period that ended on February 3rd. Now they’re beginning to ramp up mining, They have five mining pools operating already.
“Just launched, and already 5 mining pools operating on the Marijuanacoin Network! A great achievement! Even with the start reward this low, network hashes spiked to 3GHs+ Our twitter campaign starts today. We’re hoping to gain some attention by spreading the word on social media! Please login or register to participate in this campaign to support the project, and at the same time earn some extra MAR!” they said on their website.
In a mining pool, miners pool their resources together and share their hashing power and then split the reward equally according to the amount of shares they contributed to solving a block.
Cryptoheads and potheads are spreading the word on social media. Marijuanacoin has set up an incentivized social media campaign, which is how we found out about it.
You can check out Marijuanacoin here.