27 Feb '16, 11am

Cannabis Executive Doesn't Understand Bitcoin

There were several articles about Bitcoin merchant processors not accepting them because they are under the same rules as the banks and it is gray area given the federal laws. The point is you need centralized services to covert the funds in todays current environment so a decentralized system doesn’t do that much good unless it stands on its own. Several cannabis business owners have discussed these issues and they say Bitcoin won’t really help so I suggest you ask them instead of repeating nonsense you read on reddit. When you liquidate Bitcoins you fall under the same rules that are causing the credit card processors not to take them as customers. Again, you never ran a business and have no clue. Most of the people commenting on this stuff do not have businesses and most any have very small amounts of Bitcoins. They sit around making stuff up because they think they are...

Full article: http://bitcoinist.net/cannabis-executive-doesnt-understan...

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