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Offline oldman

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Huge Opportunity for Rapid bitUSD Adoption - Right Now
« on: February 12, 2015, 02:20:27 AM »

http://www.reddit.com/r/Bitcoin/comments/2vk981/medical_marijuana_industry_pouring_millions_into/

Someone needs to say hello to the medical pot industry.

Methodx is looking for low hanging fruit, this is it.

Light wallet and a little bit of marketing could pump tens of millions into bitUSD.

bitUSD literally solves the entire industry's banking problems.

Offline jshow5555

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #1 on: February 12, 2015, 02:33:24 AM »
Have similar thoughts watching '60minute' on the subject, when they talked about their banking problems.

Offline bitAndy

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #2 on: February 12, 2015, 03:19:20 AM »
Huge potential!  +5%


Offline BunkerChain Labs

Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #3 on: February 12, 2015, 03:32:48 AM »
I have spoken with several people in this space, and the issue is real. They have to walk on pins and needles here in Canada too.

Let's get practical though.. how will bitUSD solve this industry issue if they cannot get the bitUSD into a real bank account where they can make payments on bills and pay vendors and take payments from customers etc? What did you have in mind?
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Offline Gentso1

Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #4 on: February 12, 2015, 03:39:48 AM »
They need a way to cash out.....  Stay tuned :) :P

Offline Troglodactyl

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #5 on: February 12, 2015, 04:24:48 AM »
They need a way to cash out.....  Stay tuned :) :P

Indeed!

Personally I'd prefer you just bring their whole ecosystem on board so they don't need to cash out, but for now I'll settle for on and off ramps.   :P

Offline donkeypong

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #6 on: February 12, 2015, 06:32:59 AM »
We've talked a bit about the potential of 'sin' markets: porn, gambling, and the like. I guess pot would fit in there, too. There are billions of BitUSDs up for grabs if anyone wants to focus on promoting to those sectors.

Offline yellowecho

Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #7 on: February 12, 2015, 08:15:18 AM »
We should contact them about bitUSD and then run a fundraiser to integrate with new vending machines and existing shops!  8)
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Offline oldman

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #8 on: February 12, 2015, 05:46:59 PM »
I have spoken with several people in this space, and the issue is real. They have to walk on pins and needles here in Canada too.

Let's get practical though.. how will bitUSD solve this industry issue if they cannot get the bitUSD into a real bank account where they can make payments on bills and pay vendors and take payments from customers etc? What did you have in mind?

Accepting bitUSD for sales; paying employees/suppliers etc. in bitUSD and storing float/profits in bitUSD (imagine them finding out they could be making 1.5% on their $100M float!)

Can also take BTC and convert to bitUSD.

No bank required.

So perfect it hurts.


Offline blahblah7up

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #9 on: February 12, 2015, 07:28:07 PM »

storing float/profits in bitUSD (imagine them finding out they could be making 1.5% on their $100M float!)


looks like this may not be possible anymore.

https://bitsharestalk.org/index.php?topic=14212.0

Offline xeroc

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #10 on: February 12, 2015, 08:10:19 PM »

storing float/profits in bitUSD (imagine them finding out they could be making 1.5% on their $100M float!)


looks like this may not be possible anymore.

https://bitsharestalk.org/index.php?topic=14212.0
market engine changes have been canceled
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Offline wesphily

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #11 on: February 12, 2015, 10:20:01 PM »
Bitusd is does not solve the problem anymore than the dollar does. Government can track/freeze funds at Coinbase level. Sure, you could be sneaky about, but you couldn't be anymore sneaky about it then you can with the dollar.

My statement will be true until the dollar is replaced. Even then, it may hold true. Depends on who adopts bitusd. If you could persuade a whole community to adopt it then it would be a solution.

Has anybody ever tried to coordinate a large group of people to move to an area and use only crypto? Business people, teachers, tradesmen, ect.., it would only take one community to change the world.

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #12 on: February 12, 2015, 10:31:58 PM »
Bitusd is does not solve the problem anymore than the dollar does. Government can track/freeze funds at Coinbase level. Sure, you could be sneaky about, but you couldn't be anymore sneaky about it then you can with the dollar.

My statement will be true until the dollar is replaced. Even then, it may hold true. Depends on who adopts bitusd. If you could persuade a whole community to adopt it then it would be a solution.

Has anybody ever tried to coordinate a large group of people to move to an area and use only crypto? Business people, teachers, tradesmen, ect.., it would only take one community to change the world.
Their problem is not tracking and freezing though. Their problem is that the banks refused to serve them. They keep the cash and have to hire guards to keep it safe amongst other costs. It is kind of hard to pay cash to someone 1000 miles away without the banks. Both of those are solved with BTC...BTS ads to this the lack of volatility.

Offline wesphily

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #13 on: February 12, 2015, 10:41:39 PM »
Bitusd is does not solve the problem anymore than the dollar does. Government can track/freeze funds at Coinbase level. Sure, you could be sneaky about, but you couldn't be anymore sneaky about it then you can with the dollar.

My statement will be true until the dollar is replaced. Even then, it may hold true. Depends on who adopts bitusd. If you could persuade a whole community to adopt it then it would be a solution.

Has anybody ever tried to coordinate a large group of people to move to an area and use only crypto? Business people, teachers, tradesmen, ect.., it would only take one community to change the world.
Their problem is not tracking and freezing though. Their problem is that the banks refused to serve them. They keep the cash and have to hire guards to keep it safe amongst other costs. It is kind of hard to pay cash to someone 1000 miles away without the banks. Both of those are solved with BTC...BTS ads to this the lack of volatility.

Ok. Customer comes in and buys drugs with cash/credit card. How do they convert that to bts? Bank > Coinbase > btc > bitusd. Clearly, bitusd does not solve the problem.

Now, let's assume the whole community adopts bitusd. Customer comes in and buys drugs with bitusd......that's it because the company can pay employees with bitusd who can then buy groceries with bitusd. No bank needed. Bitusd solves the problem.

Again, the only way bitusd solves the problem is if the whole community adopts it.

Offline carpet ride

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Re: Huge Opportunity for Rapid bitUSD Adoption - Right Now
« Reply #14 on: February 12, 2015, 11:45:41 PM »
Bitusd is does not solve the problem anymore than the dollar does. Government can track/freeze funds at Coinbase level. Sure, you could be sneaky about, but you couldn't be anymore sneaky about it then you can with the dollar.

My statement will be true until the dollar is replaced. Even then, it may hold true. Depends on who adopts bitusd. If you could persuade a whole community to adopt it then it would be a solution.

Has anybody ever tried to coordinate a large group of people to move to an area and use only crypto? Business people, teachers, tradesmen, ect.., it would only take one community to change the world.
Their problem is not tracking and freezing though. Their problem is that the banks refused to serve them. They keep the cash and have to hire guards to keep it safe amongst other costs. It is kind of hard to pay cash to someone 1000 miles away without the banks. Both of those are solved with BTC...BTS ads to this the lack of volatility.

Ok. Customer comes in and buys drugs with cash/credit card. How do they convert that to bts? Bank > Coinbase > btc > bitusd. Clearly, bitusd does not solve the problem.

Now, let's assume the whole community adopts bitusd. Customer comes in and buys drugs with bitusd......that's it because the company can pay employees with bitusd who can then buy groceries with bitusd. No bank needed. Bitusd solves the problem.

Again, the only way bitusd solves the problem is if the whole community adopts it.

Once the light wallet and one step on ramp is out then Pot would be an excellent target market -- also once we have created the Lwallet and on ramp, what might be good strategy here for initiating cross-community demand? I have heard some say incentivize merchants who then pass the incentives to the consumer and employees (although IME promotions don't work well this way at the retail level as the retailer tends to keep the dollars for themselves if recieved upfront)
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