Largest Cannabis Community Market in Israel to Accept Bitcoin Payments

via bitcoin

Before it was turned into an investment asset, the invention of Bitcoin promised to usher in a world where anyone can pay for anything they like without a need for getting prior approval from the powers that be. The demand for uncensorable transactions still exists, and the latest example of this comes from Israel where the largest cannabis community market has turned to bitcoin payments.

Telegrass to Accept Bitcoin Payments

Telegrass, an Israeli community-based cannabis marketplace with over 100,000 members, has announced earlier today on social media that it will start charging merchants for some services, offering discounts for bitcoin payments. The community works to promote the legalization of recreational use of cannabis in Israel and offers a platform to connect buyers and sellers via the Telegram network. Merchants can still list their products for free in one city but will have to pay in order to expand their coverage.

The new funds raised with bitcoin are meant to help pay the Telegrass staff, which have been working as volunteers so far, and further public legalization efforts. The marketplace has been the target of continued police attention for working to provide anonymity to buyers and greater security for sellers, offering client verification methods that are meant to weed out undercover cops.

A Growing Demand Among Investors

While the recreational cannabis market in Israel has been going through a slow decriminalization process, the legal cannabis market has been growing fast in recent years. “Canna Tech” startups have sprung up, agricultural companies have established sophisticated farms to supply pharmacies around the world with medical marijuana, and Israeli investors have been clamoring to get in on the action. Stocks related to the field have experienced stellar performance, and analysts often compare them to investing in bitcoin-related ventures as the two hottest trends.

We recently reported about Fantasy Network, a company traded on the Tel Aviv Stock Exchange (TASE: FNTS), that has ended all the plans it previously had to enter the “blockchain” space and turned to the legal cannabis business.


I love this system…

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I like it :slight_smile: However I thing that some rock stable alt coin would be better adopted in mainstream. Read about Nebula network - it’s one of these projects…

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As far as I know this system works for the people that want to buy some weed illegally. It works in countries where marijuana is strictly prohibited so it’s quite dangerous to smoke it. I think it’s important to note that a lot of people want to get high that’s why marijuana should be decriminalized and used only for medical purposes. I think CBD oil is best suited for such reasons since it has the opposite effect that can alleviate cancer-related symptoms and even reduce anxiety. However, the dosage must be observed, because I’ve already had a bad accident when I had an overdose. In my case CBD uncut helped me to understand how to use it correctly, without any bad cases.

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