Join our Telegram Channel!Get Bitcoin News stories in Telegram × DismissIn a world where cash is king and crime is rife, Bitcoin has come to the rescue of the cash beleaguered medical marijuana businesses.In the United States, marijuana is a touchy subject but there is legalisation of medical marijuana in at least 25 states and the District of Columbia.This new medical marijuana industry has a dark secret though - it is a cash only business.In July 2016, the Los Angeles Times covered the cash only nature of pot stores and how they are becoming victims of robberies.They reported the killing of a 24-year old Colorado pot store guard, Travis Mason.Describing the amount of cash that is handled by these stores, the Los Angeles based newspaper wrote: “Crime statistics concerning legal dispensaries are hard to come by as the industry expands, and, understandably, operators are reluctant to talk about how much cash they can have on hand.But in a late-night Seattle dispensary break-in last year, for example, thieves got away with $100,000 in cash.” The one word answer to that question is - Feds.

, Federal law forbids banks and credit unions from taking ‘marijuana money.’ Describing the challenges faced by Colorado’s marijuana businesses, the website further states “All the cash floating around makes cannabis businesses targets for crime,” Freedman says.“Since Colorado fully legalized marijuana in January 2014, the Denver Police Department has logged over 200 burglaries at marijuana businesses, as well as shoplifting and other crimes.” One of the fundamental problems is that businesses that work in the medical marijuana field can’t accept credit cards or write checks.While at the state level, these businesses are legal, the federal laws classify cannabis as a Schedule 1 illegal drug.It also means that a lot of these businesses end up paying their taxes in cash.Of course all these drug taxes also means that the tax authorities in the US have to handle large amounts of cash as well for which they are largely unprepared.In fact the Guardian described recently a unique problem that tax authorities in Sacramento, California are facing: “The Sacramento branch of the California tax collection agency reeks of marijuana.

That’s because it’s cash day at the collection center – when marijuana dispensary owners are allowed to bring in paper money to pay their quarterly sales tax bill – and the smell of their inventory clings to everything.” Bitcoin and drugs have been in the news for all the wrong reasons.The silkroad fiasco being the most well known of course.However, Bitcoin also holds the potential to deliver the medical marijuana businesses out of their current state of cash induced misery.First Bitcoin Capital Corp, a Vancouver, Canada based company recently announced signing of merchant processing agent agreement for the states of California and Oregon.They will also be processing credit cards.This agreement will open the doors of medical marijuana patients to pay with a credit card.Firstly, Bitcoin’s system will allow processing of credit and debit cards without the need of any bank accounts. reported a spokesman from First Bitcoin Capital as saying, “Being the first publicly-traded cryptocurrency and Blockchain-centered company we want to provide our shareholders with diversified exposure to digital cryptocurrencies and Blockchain technologies.” The cutting out of banks from the medical marijuana and credit card processing finally paves the way for both patients and marijuana companies to operate in relative safety.

However, the bigger picture remains that Bitcoin is now acting as a proper alternative to traditional banking and is providing services to the unbanked or to those that traditional banks wouldn’t even touch with the proverbial 10-foot long pole.peter mccrudden bitcoinWhile much of the world is still busy playing around with physical money, there is a new currency on the web called bit coin that has become a popular alternative to other forms of currency.bitcoin mass paymentThe bit coin payment process is easy.bitcoin march 2017It is also extremely secure.Paying with bit coin allows for people to engage in truly private transactions on the web.Forget needing to make payments through middle men.It's not even necessary to involve one's bank to make a bit coin transaction happen.

Aside from being a type of Internet currency, bit coin is not vulnerable to the usual bank practices of currency manipulation.Rather, specialized coding procedures are used to ensure the stability of bit coin and prevent these manipulations from occurring.Now anyone can use this decentralized currency.All that a person needs to get started is a computer or similar smart device that can access the Internet.* The unique coding method, called a block chain, employed in a bit coin transaction makes it next to impossible for third party entities to hack into and follow your transactions.This is a nice way to keep other people's prying eyes out of your business, even government entities.* It is not only a safer way to send money across the Internet, but it saves the purchaser money to do so.This is because you are not forced to incur any third party fees, such as with other online payment methods.Royal Queen Seeds is now allowing its customers to purchase products using bit coin transactions.

First you will need to acquire a bit coin wallet.Then you will need to get bit coin currency into that wallet.Don't worry, the process is simple.Once you have a bit coin wallet and have acquired a little bit coin currency, then you will be ready to start purchasing products using bit coin.A bit coin wallet is much like having an online account for receiving, sending, and transacting bit coins.When a person buys bit coins, they are moved into their bit coin wallet.When they buy things using bit coins, the bit coins are then taken out of the bit coin wallet accordingly to complete the transaction for a purchase.To make this process simple for you, we will describe how you can set up a Coinbase account to get started.A Coinbase account is a type of bit coin wallet.Coinbase is used by people world wide to make bit coin transactions execute smoothly in international commerce.Step 1: Setting up a wallet to hold your bitcoin is easy.This will take you to the download page for Electrum, a simple, secure, and easy to use Bitcoin Wallet.

Step 2: With this program, you will be able to create a wallet of your own.Step 3: During the setup process, you will be presented with a “Generation Seed”.This is a unique passphrase that allows you to retrieve your wallet should you ever lose it, or your computer break.Make sure to take note of your Generation Seed on a piece of paper, and hide it somewhere safe.Never share it with anyone!It would be the same as giving someone access to your credit card or bank!Now you have a Bitcoin Wallet you will be able to send us payment for your order with Bitcoin.Note, you will need to have Bitcoin in your wallet to make a payment.If you do not have any, you can find the details of some Bitcoin sellers at the bottom of the page.Step 1: When purchasing cannabis seeds from Royal Queen Seeds, choose Bitcoin as your payment method during the checkout process.Step 2: Once chosen, you will be taken to a screen with the unique order information needed to complete your payment.The Royal Queen Seeds Bitcoin AddressB.

The total amount of the payment owed.C.The order number Step 3: Open up your Bitcoin Wallet.Step 4: Important: Make sure currency is set to BTC, not mBTC.This can be changed with Tools > Preferences > Appearance: Base Units: BTC.Step 5: Click on the “Send” tab.You should see the following screen: Step 6: Copy the Royal Queen Seeds Bitcoin address into the “To” field.Please note, the address shown in the above image is just an example.Do not use it!Step 7: Copy the order number into the “Description/message” field.Step 8: Copy the amount to be paid into the “Amount” field.Step 9: Press “Send” to send us your payment!Once received, we will process your order and get it on its way to you ASAP!The following is a list of other bit coin sellers provided for your convenience: - - A Scandinavian based Bitcoin Vendor There are certainly numerous other websites one can visit to purchase bit coin from.As you can see, it is safe and relatively easy to use bit coin to engage in financial transactions.