HempCoin is a Scrypt algorithm coin like Litecoin and countless other Bitcoin alternatives, but unlike most, it has a publicly traded company, Rocky Mountain Ayre , backing it.
Interest seems to be increasing in the coin, which is one of the many currencies targeting marijuana dispensaries and other legal marijuana entities which have banking issues due to federal regulations in the United States. Speculators, too, have seen utility in the coin, having gained roughly 1000% over the few weeks since June 25 th .
As seen in the chart below, a steady incline has been tread by the trades, and there is significant volume at the upper end – around about 0.00000110 bitcoins each. This may not seem like a great deal of value, but consider that many of the more than 1,000 alternative coins in the world have just 1 Satoshi (0.00000001) in value, with a small minority of perhaps 20-30 coins holding most of the bitcoins people have invested. Chart courtesy of C-Cex.com Another point that sets HMP apart is its marketplace, and this might be a contributing factor to people’s willingness to purchase the coin. The marketplace allows anyone to transact in the coin, and is available directly through its official website. The website, however, admittedly, is sparse on actual information about the coin.
Nevertheless, a rise of this magnitude is noteworthy for any altcoin, especially one which faces direct competition for investment from the likes of veteran heavyweight Potcoin , which is currently trading around 180 Satoshis – not so very much higher than HempCoin. There are several others in the sphere of the marijuana and medical marijuana industries, as well, including MaryJaneCoin and CannabisCoin.
All of them have a common goal: subvert governmental quiet wars against newly legalized industries and help people mitigate robberies. Since dispensary owners […]
