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House Passes Bill to Decriminalize Marijuana

41 pointsby virtualwhysabout 3 years ago

1 comment

tzsabout 3 years ago
Question: in the states where marijuana is legal, why isn&#x27;t there a big push to make it easy to buy it with Bitcoin?<p>Normally, I find most proposed uses for Bitcoin at least in first world countries quite ridiculous. In almost all cases aside from scams and money laundering and illegal businesses conventional payment systems make a lot more sense.<p>But because marijuana legalization is occurring at the state level, but most conventional consumer payment systems such as credit cards operate at the national level, those payment systems are generally not available in cannabis stores. At best accepting credit cards at such stores is a gray area which makes many banks reluctant to allow it.<p>The cannabis stores end up having to operate on a cash basis, which makes them a juicy target for armed robbery. There have been a couple serious attempts in Congress to make it so credit card companies could serve cannabis stores in states where it is legal, but they can&#x27;t get enough bipartisan support to pass.<p>This seems like just the situation where some sort of cryptocurrency based system would actually be legitimately useful.
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