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Bitcoin vs. Marijuana: Which 1 Should You Choose? – The Motley Fool Canada

Investors have been profoundly riveted by cannabis companies, despite disappointing earnings results. Industry growth has been phenomenal, although losses are widening. And many are also watching closely blockchain technology that has blockbuster potentials. So, which between the two has a brighter, sustainable future? Both the cannabis and blockchain industries are practically evolving at the same…

Bitcoin vs. Marijuana: Which 1 Should You Choose? – The Motley Fool Canada

Investors have been profoundly riveted by cannabis companies, despite disappointing earnings results. Industry growth has been phenomenal, although losses are widening. And many are also watching closely blockchain technology that has blockbuster potentials. So, which between the two has a brighter, sustainable future? Both the cannabis and blockchain industries are practically evolving at the same pace. When you talk of blockchain, there’s no name that is more prominent than HIVE Blockchain Technologies (TSXV:HIVE). With regards to Canopy Growth (TSX:WEED)(NYSE:CGC), the name is synonymous with the cannabis sector. Each stock is the acknowledged leader in their respective industries. Sooner than later,…

Investors have been profoundly riveted by cannabis companies, despite disappointing earnings results. Industry growth has been phenomenal, although losses are widening. And many are also watching closely blockchain technology that has blockbuster potentials. So, which between the two has a brighter, sustainable future?

Both the cannabis and blockchain industries are practically evolving at the same pace. When you talk of blockchain, there’s no name that is more prominent than HIVE Blockchain Technologies (TSXV:HIVE). With regards to Canopy Growth (TSX:WEED)(NYSE:CGC), the name is synonymous with the cannabis sector.

Each stock is the acknowledged leader in their respective industries. Sooner than later, their businesses will be interwoven. Each one will need the other to build investor confidence and ensure long-term growth.

Inevitable collaboration

Brand name recognition helped Canopy Growth achieve a 282% revenue growth for its fiscal third quarter. The company also took a bigger slice of the sector’s pie due to significant acquisitions after the Cannabis Act became law. Investors seem ready to absorb the high losses and patiently wait for the bountiful harvest in due time.

But Canopy Growth and other cannabis producers are grappling with various issues. General regulatory uncertainties, quality assurance, maintenance, payment solutions, and transparency are preventing them from getting into the groove. This is where HIVE and blockchain technology comes into the picture.

The cannabis sector needs transparency

One is the major things the cannabis space is lacking is transparency. Blockchain technology can be a solution to the cannabis sector’s current issues. The number of companies embracing blockchain technology is growing. Among the well-known names are IBM, Maersk, Samsung, and Softbank.

The cannabis industry is facing ambiguous regulations across borders. By using the blockchain ledger, you can reduce, if not eliminate, any potential human-based confusion or deceitful practices. Auditing cannabis companies and monitoring their taxes would be hassle-free for governments and financial institutions.

A thriving industry like cannabis needs to create an effective vertical integration in the supply chain. Blockchain would enable Canopy Growth to better manage its supply chain while doing away with paper trails.

Strategic long-term investments

Let us not forget that the cryptocurrency revolution came about with the rise of blockchain technology. The global blockchain market is estimated to surpass the US$60 billion mark by 2024. That is too quick for an industry that’s still in the infancy phase.

By the end of 2025, the global legal marijuana market could reach US$146.4 billion. The financial metrics of Canopy Growth is bound to improve in more than a year or two. HIVE will be around to enhance efficiencies in nearly all industries. Thus, the future is very promising for both.

HIVE and Canopy Growth are the leaders in their respective industries and can influence investor sentiment. At present, the stocks appear to be on equal footing when it comes to sustainability and staying power. If you ask me, both are strategic long-term investments. But their collaboration can be the most potent ever.

You might be missing out on one of the biggest opportunities in Canadian investing history…

Marijuana was legalized across Canada on October 17th, and a little-known Canadian company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

Besides making key partnerships with Facebook and Amazon, they’ve just made a game-changing deal with the Ontario government.

One grassroots Canadian company has already begun introducing this technology to the market – which is why legendary Canadian investor Iain Butler thinks they have a leg up on Amazon in this once-in-a-generation tech race.

This is the company we think you should strongly consider having in your portfolio if you want to position yourself wisely for the coming marijuana boom.

Learn More About This TSX Stock Now


Fool contributor Christopher Liew has no position in any of the stocks mentioned.

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Moonday Mornings: Binance to resume deposits and withdrawals after $40M Bitcoin hack

It’s time for Moonday Mornings, Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain headlines. Here’s what happened. 1. Binance says it will resume deposits and withdrawals on its platform on Tuesday. The cryptocurrency exchange had suspended the functions following an attack in which hackers stole over $40 million worth of Bitcoin. 2. The…

Moonday Mornings: Binance to resume deposits and withdrawals after $40M Bitcoin hack

It’s time for Moonday Mornings, Hard Fork’s wrap-up of the weekend’s top cryptocurrency and blockchain headlines.

Here’s what happened.

1. Binance says it will resume deposits and withdrawals on its platform on Tuesday. The cryptocurrency exchange had suspended the functions following an attack in which hackers stole over $40 million worth of Bitcoin.

2. The figureheads of the fake cryptocurrency scheme, OneCoin, are being sued. Brother and sister duo, Konstantin Ignatov and Ruja Ignatova are facing a class action law suit for their involvement in the scam which was “based completely on lies and deceit,” ZDNet reports.

3. A Bitcoin BTC fueled ransomware attack hit the Baltimore City government last week. Despite being cleaned of the ransomware, hackers are allegedly still accessing the infected computers, ZeroHedge reports. The Federal Bureau of Investigation is now investigating the attack.

4. The creator of the Bitcoin treasure hunt Satoshi’s Treasure is claiming nearly 60,000 people are following the global challenge, CoinDesk reports. One player has already claimed the first prize, and didn’t even have to go anywhere to claim it.

And finally.

5. William Shatner is putting William Shatners on the blockchain. The former Star Trek actor is joining Mattereum, a legaltech firm, to document the authenticity of science collectibles and memorabilia from a range of franchises on the blockchain.

That’s another weekend’s headlines for you. Live long and prosper.

Published May 13, 2019 — 07:58 UTC

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Amazon granted patent for Bitcoin-style system to fight DDoS attacks

Cryptocurrency rumor mongers are likely to be dancing today as Amazon has successfully filed a patent for a Bitcoin-styled Proof-of-Work system. But don’t get ahead of yourself, it doesn’t look like the Seattle-based ecommerce giant will be accepting Bitcoin for payments. Despite first being filed in December 2016, Amazon’s patent application was granted earlier this…

Amazon granted patent for Bitcoin-style system to fight DDoS attacks

Cryptocurrency rumor mongers are likely to be dancing today as Amazon has successfully filed a patent for a Bitcoin-styled Proof-of-Work system. But don’t get ahead of yourself, it doesn’t look like the Seattle-based ecommerce giant will be accepting Bitcoin for payments.

Despite first being filed in December 2016, Amazon’s patent application was granted earlier this week and appears to outline a system that uses Proof-of-Work to prevent distributed denial-of-service (DDoS) attacks.

“One way to mitigate against such attacks is to configure a service such that requests to the service incur some sort of expense, thereby providing a disincentive to participating in the attack,” the application reads.

Planting a Merkle Tree

Amazon proposes to use Merkle Trees to present a Proof-of-Work challenge and make it too costly for a series of computers to perform a DDoS attack.

But what’s a Merkle Tree? In short, Merkle Trees are cryptographic tools where blocks of data are manipulated to give them a unique identifier also known as a hash.

These hashes are then manipulated again to create a parent hash. Parent hashes are always a combination of two or more child hashes. It’s layers on layers of hashed data.

Since computing power is required to build a Merkle Tree, performing such hashes could get very costly in terms of time, electricity, and resources. In turn, this makes DDoS attacks economically unfeasible.

In the case of Amazon’s patent, imagine having to construct a Merkle Tree before you’re allowed to access a website hosted on one of its servers. To an individual the cost might be insignificant, but to an organization trying to carry out a DDoS attack – which might involve many hundreds of computers – it could become prohibitively expensive.

Amazon’s Merkle Tree

Merkle Trees are also used in Proof-of-Work blockchains like Bitcoin as part of its consensus mechanism. But for now that’s as close as Amazon will get to Bitcoin.

Indeed, with this news it seems Amazon is still of the “blockchain, not Bitcoin” mantra. Earlier this month, the web giant said that AT&T, Accenture, and Nestlé are all using its cloud-based blockchain tools.

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South African voters fear mobile political campaigns will steal their personal info

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