Cannabis medibles and Bitcoin - Candose now accepting bitcoin in California.
candose.com/
candose.comPosted Jan 11, 2014, 6:44 AM UTC
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candose.comI accept bitcoins in LA for flowers as well. Prop 215 only
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Who's ready for this? Who's dedicated 420 and Serious?
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Its good to see news about cannabis marijuana sector accepting bitcoins. I think this will take off with the dispensaries in Colorado once they get a little more time under there belt.
Especially when even the legal dispensaries are apparently not allowed to use regular banks because of some federal laws.
It's the banks who are scared because of the conflicting federal and state laws. Banks abide by federal laws first.
There could be a market for a reverse-bitpay middle man. Take credit card, transfers btc to the merchant. Another service could exchange that at market price and wire it to a bank that works with bitcoin.
This would allow customers to use credit and debit cards, and dispensaries to hold cash in a bank.
Seems like it could work but there would be some loss from a few transaction fees along the way. Just need really easy to use merchant tools that allow the receipt of BTC. The hardest part is a bank won't allow any dispensary to hold a bank account.