The Tin Whistle

counterculture history and conspiracy theory

Where to put $1 million a day in legal cannabis sales?

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bitcoin1Denver cannabis shops are pulling a million a day since pot went legal, and all that money must be kept in cash in secret locations? I smell a Hollywood heist film in the near future. Since there’s a million a day stockpile of cash sitting around somewhere in Denver (and not in a bank) that sure seems like an enticement for every sort of con man, grifter, hoodwinker and thief in the world to migrate quickly to Denver. And how hard is it to blend in with a bunch of stoners, do some hugs, gain their confidence, and then do the old blind-side?

You know someone has to be asleep at the wheel because all the money should have been pouring into Bitcoin from day one. First Bitcoin was ignored (and truthfully the average American hasn’t even heard the word yet), then mocked, now just derided with constant predictions of imminent bubble collapse. Many mainstream news sources tell you Bitcoin is a pyramid scam. That is utter nonsense because these unique cryptographic codes have much better value than fiat money or even gold. The system is simply a repository of wealth, and the earlier you invest in this system, the more equity you are going to achieve. There will only be 21 million coins mined and the last coin will not be mined until 2140 at the earliest. The difficulty in mining increases over time, insuring the release of new coins come at an ever slower drip. The entire system is open source and has been investigated by many of the best software engineers in the world. That is why Silicon Valley jumped into Bitcoin first. Because the best minds were excited by the prospects. The reason Wall Street started investing into Bitcoin recently is because they saw how quickly assets were being piled into the system, driving up the value of each coin dramatically. In the early days, someone gave 10,000 coins to buy a pizza. Whoever got those coins can cash them in now for $8 million.

Written by Steven Hager

January 9, 2014 at 10:34 am

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