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Washington State Cannabis Growers Investing In Cryptocurrency Mining Hardware

Posted by: rebphil in News July 9, 2014 8 Comments

 

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Those seeking a coin backed by gold might do well to consider Acapulco Gold.

An increasing number of Washington state cannabis growers are becoming directly involved in crypto through barter, direct purchase and mining.  Several informative exchanges, rich with technical content, have taken place between long-time miners and members of the Northwest Green Thumb Cannabis Grower’s Forum, within the #cannacoin IRC channel.

What we have here is a unique case of cannacoina cryptocoin that is not only strongly backed by a high-value, scarce, commodity but also by those that produce it.  I can’t name another coin that has this kind of relationship with its intended audience.

Some growers are investing in their own mining rigs, that they see as just another piece of infrastructure that fits well in an already power intensive grow op.  Others are choosing to lease mining resources, which are plentiful and cost-effective.

The evolution of this new ecosystem within a new legality in Washington should be exciting to watch.

 

 

Other articles by rebphil that you might enjoy. 
Dark Wallet     Alpha Test Introduction    Dark Lobby   Alpha 4 update
Learning Crypto     DHM Key exchange     Eliptical Curve DSA     Greedy Mining
CannaCoin     IRC tipbot wallet     CannaStore
Tips for Phil:
BTC: 1JcNZ48vhNATfa96dXw8CVGhggSE2X795W
LTC: LVzr5taTj5Y4zG8MvpSGbQAT92YXrqdnpu
DRK: XhoZYuH64bbfbvTErPSKRi9jzMJA4QNNaM
  • http://www.coinjoint.info Patrick

    Groovy

  • http://NWGT Felatio Ramirez

    How many cannacoins does it take to make a penny?

    20,000? 2,000? not sure how to read that many points past the decimal.

    that’s my 40,000 cannacoin’s worth.

    .o2

    • rebphil

      One cannacoin is worth over a penny today.

  • ben

    Is there any money in mining these at this point? / what can you buy with them?

    • http://cannacoin.cc Josh

      There is currently value in mining these coins based on exchange rates however, to better support the movement you can spend them with a few of the merchants accepting them with new businesses coming expected to come online in the near future. A good place to spend some of your cannacoins now is at the official CCN shop http://cannacoin.cc/store or if you’d like to see your favorite online store accept them just ask and we can help get them setup.

  • rebphil

    Today 1 cannacoin = 0.01058583 USD

    • http://NWGT Felatio Ramirez

      So 0.01058583 x 94 = 0.99506802.

      so the correct answer would be, it takes between 94 and 95 cannacoin to make .01 cent.

      or <1/10 of 1 cent.

      derp

      • rebphil

        1 CCN = 0.00948617 USD