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A comment on Where Pot Entrepreneurs Go When the Banks Say No. Parent comment

Re:Where Pot Entrepreneurs Go When the Banks Say No by Karrot_Kream on Thursday January 04, 2018 @07:40PM (#16075503)
Sure but doesn't this still necessitate having a bank to store the cash they sell the BTC for? Or do the pot shops store their cash in their Posabit account?
[ Parent | on HN ]
Re:Where Pot Entrepreneurs Go When the Banks Say No by subway on Thursday January 04, 2018 @07:55PM (#16075576)
The storage of cash situation is is a weird one nobody really talks about. It's unclear to me how Posabit gets USD back to the retailer, but my understanding is the funds moving from Posabit to retailers happens as USD.

Due to the fact retailers have to move large sums of cash, and can't store it in a bank easily, they're pretty tight lipped about the situation (pot shops being robbed at the end of the night isn't unheard of).

[ Parent | on HN ]