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Showing posts with label cannabis. Show all posts
Showing posts with label cannabis. Show all posts

Tuesday, June 13, 2017

Besides being a way for wealthy Asians to arbitrage currency, Bitcoin's most favorable customers may be those in the Pot industry

While many pro-Bitcoin advocates would like to tell the world that the hyper-sonic rise in value over the past five months has been primarily due to its growing popularity around the world, the fact of the matter is between 48-78% of all transactions for the cryptocurrency have taken place in South Korea, China, and Japan where wealthy Asians are using Bitcoin's ease of transferability to arbitrage the digital currency as a conduit to get out of their own sovereign fiat.

But there is actually one new and burgeoning industry that has taken Bitcoin to heart, especially since their access to normal banking systems has been restricted due to the Federal governments remaining stigma against their products.  And this is making entrepreneurs and business owners in the pot industry some of the most favorable customers of the cryptocurrency.

Cannabis companies are turning to the world’s most popular digital currency in an effort to get rid of all that cash. 
The inability to access traditional financial institutions is one of the marijuana industry’s biggest impediments. Legal cannabis was a $6 billion industry last year and is expected to grow to $50 billion by 2026, according to Cowen & Co. But because pot is illegal under federal law, big banks and credit-card companies steer clear. That’s forced most merchants to accept cash only, a logistical headache and constant security threat.  
Enter bitcoin, the cryptocurrency that consists of digital coins “mined” by computers solving increasingly complex math problems. At least two financial-technology startups, POSaBIT and SinglePoint Inc., use the cryptocurrency as an intermediate step that lets pot connoisseurs use their bank-issued credit cards to buy weed. - Bloomberg

Wednesday, March 22, 2017

Congresswoman Tulsi Gabbard submits bill to decriminalize pot and remove it from the Fed's drug schedule

On March 21, Democratic Congresswoman Tulsi Gabbard submitted a bi-partisan bill to Congress calling for the decriminalization of marijuana, and having it removed from the Federal government's drug list as a schedule 1 substance.

Titled HR1227, the Ending Federal Marijuana Prohibition Act, this bill is also being co-sponsored by Republican Congressman Tom Garrett from Virginia.

Image result for pot benefits
Hawaii Congresswoman Tulsi Gabbard has urged Congress to federally decriminalize marijuana Tuesday, introducing a bipartisan act to to remove the drug from the federal controlled substances list. 
“FBI reports have shown that in 2011 alone, an individual in the United States was arrested for marijuana use, sale or possession every 42 seconds,” Gabbard said in a statement. 
The congresswoman introduced the Ending Federal Marijuana Prohibition Act (HR. 1227) with Republican Virginia Rep. Tom Garrett, calling on Congress to update its “outdated drug policies”. 
The pair called on Congress to take into account the growing body of evidence that suggests the medicinal benefits of marijuana, from the treatment of epileptic seizures to reducing anxiety and “even halting the growth of cancer cells.” 
The FDA currently classifies marijuana as a Schedule 1 classification, along with MDMA and heroin. - Russia Today
The demonization of marijuana goes back nearly 100 years to around the time of alcohol prohibition and the aftermath of the 1910 Mexican Revolution where streams of Mexican immigrants came into the United States bringing with them their cultural use of cannabis.  And like the demonization of Opium decades before when it was brought to the U.S. by Chinese immigrants during the construction of the railroads, the basis for pot's prohibition was primarily racial, and later political when psuedo-scientists and quack physicians paid by the government began PR campaigns to falsely equate the drug with crime, rape, and the actions of undesired immigrants.

Tuesday, June 28, 2016

Complete pot legalization may be here in America as early as Aug. 1

Although most generations living today have little or no idea behind the real reasons and purposes for the ‘war on drugs’, the fact of the matter is that is has and always will be about money, and those who control it.
Cannabis or pot is a drug that has a long history in the United States, and was even used as a relaxant by our Founding Fathers as written in several annals from that time period.  And like the way Great Britain forced opium on the Chinese back in the 19th century to help fund their vast global empire, the American government did virtually the opposite and banned such natural narcotics as a way to enrich pharmaceutical companies through medicinal monopolies, and to enlarge law enforcement agencies through the incarceration of users.
But this may all be changing as on Aug. 1, the Drug Enforcement Agency (DEA) will be reviewing narcotics currently on Federal registries known as ‘schedules’, and there is a very good probability that Cannabis will be removed as a schedule 1 drug and placed on a different list that contains current legal substances like alcohol, caffeine, and nicotine.
weed big business
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Monday, March 7, 2016

Evidence is mounting that legalization is way to win the war on drugs

Ever since President Richard Nixon initiated schedules to designate most recreational drugs as illegal, America began a War on Drugs that has now stretched over four decades and several trillions of dollars.  The results however have been catastrophic as not only has drug use increased over that time, but prisons have swelled with individuals who were incarcerated for victimless crimes, and violent cartels now control not only drug traffic and distribution, but also elected officials and entire countries.
In 1996 California helped open a crack in the government’s absolute stranglehold in drug prohibition by voting in the first medical marijuana legislation.  And over the next 19 years, 23 states had passed laws allowing for the regulated medicinal use of the drug.  This first step was then followed by the full legalization of cannabis in both Colorado and Washington in 2013.
And now 3 years later, something very interesting is occurring which has mirrored the results of ending alcohol’s prohibition during the 1920’s.  Because once both drugs were removed from legal restrictions, most crimes tied to the illegal distribution of both alcohol and marijuana began to dry up.

Read more on this article here...