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RE: Official Press Release 12/03/2017: Dopecoin & Smoke Exchange Intend To Revolutionize Legal Marijuana Industry
I really hope one of these MJ related tokens takes off, but I honestly don't see it. Maybe I am wrong and one of them becomes the Apple of MJ currencies. But with the advancement of SMT's coming soon, I hesitate on any new token or coin that doesn't have STEEM's pedigree of benefits. As an MJ legal manufacturer, why would I not just have my own token? and hope that IT becomes the Apple. That way I have the best product, and people are using MY currency.
I don't see many negatives of accepting all types of MJ tokens, but I can't see the mass adoption to one specifically for any reason.
You may be more knowledgeable on this than me seeing as your the OP. Am I missing something here?
Thanks for replying. Up until now, all the MJ related cyptos have focused only on one purpose which is trying to bridge the gap for the unbanked in the industry. The collaboration between DOPE and SMX is an innovation that not only serves that purpose but also solves a different challenge altogether. All MJ related businesses are defacto banned by conventional internet advertising channels. DOPE will also be the only MJ coin to have its own payment gateway ecosystem with click, set, and go plugins for popular ecommerce platforms that will automatically convert payments into advertising budget. The intent here is to solve two problems simultaneously while making the learning curve as gentle as possible for the business owner. IMO, if any of these MJ cryptos has a chance at mass adoption, it's DOPE.
Interesting. So how does DOPE and SMX get past the barriers for advertising MJ where the manufacturer can't? If it helps to just direct me to some good info I'm down for that too :)
They have already developed their own self serve advertising platform with a real time auction based bidding system similar to Google Ad Words. It is its own ecosystem that exists outside Google, Facebook, etc. It's quasi-decentralized and outside the control of mainstream tech giants who would police content. Here's a link to the white paper and website.
Ok, I checked out their website and read basically the whole white paper. I think I have a grasp on it. I guess my only question is, what happens when MJ is legal everywhere and the normal media companies are now allowed to market it? Does DOPE or SMX just have the first movers advantage?
Their price graph has been pretty much a flat line for the last 3 years. You think this is what is going to make it take off?
That's a good question that I've considered myself. I think we are many years away from full federal legalization in the U.S. If successful, the project would be so far ahead by then I don't think it would matter.
Honestly, if you read the white paper the biggest question that should stand out is "it's a good idea but why is it a good investment? How does the token value appreciate? How do I make money?"
That question is about to be answered shortly. Stay tuned.
As far as the valuation of DOPE goes, you should judge it from January 2017, when it was relaunched. Before that it couldn't answer the two nagging questions brought up in the press release, so it was the same as every other weed themed coin, a novelty for speculation.
Good stuff. I'll keep my eye on it and let you know how I make out if I decide to jump in. Thanks man.