Bitcoin and bud are a match made in liberty heaven. They are perfect examples of things people want, but that the state thinks is their job to “protect” you from. Two inevitable forces, two civil rights issues. Bitcoin can help the nascent legal marijuana business, and the marijuana business can help Bitcoin. I wrote a piece all about this last month, which I suggest reading titled: How Bitcoin Could Serve the Marijuana Industry as Banks Remain Too Scared to Enter.
Now from Coindesk:
Medical marijuana dispensary Kouchlock Productions, which opened on Monday February 3, began accepting bitcoin for its wares this week. The dispensary, based in Spokane, is said to already have sold the drug in several bitcoin transactions.
While medical mariijuana dispensaries are legal in the state, they are still federally illegal, which makes it difficult for them to process credit cards. This makes bitcoin a useful alternative for them.
Counter staff at Kouchlock Productions confirmed that the company was now accepting bitcoin. However store owner Scott O’Neil did not respond to questions yesterday. News reports suggest that the store plans to transition to a non-medical licensed retailer when licenses become available. Eventually, it is estimated that there will be hundreds of retail outlets in the state.
Full article here.
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