CryptoCann™ Report: Bitcoin volatility spikes on price crash; 78-year old in wheelchair evicted for using medical cannabis

Facebook has five job openings for blockchain talent in California

Bitcoin images
Bitcoin volatility soars.

The Crypto Report

The volatility in Bitcoin has tripled on the month as prices of the cryptocurrency crashed, a report by Cointelegraph said.

The most recent available data for December showed that BTC-USD volatility hit 5.53%, compared with 1.57% on November 9 at the start of the 30-day Volatility Index.

The volatility has been consistently rising from November 19, going from 2% to 4.53% a week later and then upwards to break above 5% on November 29.

From October 9 to November 9, Bitcoin volatility did not rise above 2.06%, ranging from around 1.5%-1.7% majority of the period, the report said.

READ: Bitcoin drops to a new low for 2018 amid market sell-off

Facebook Inc (NASDAQ:FB) has five job openings for blockchain talent at its Menlo Park, California, headquarters in the areas of data science, software engineering and marketing, a report by Coindesk said.

The company's possible plans for blockchain have not yet been disclosed. The ads on its careers pages state that the ultimate goal is to help “billions of people with access to things they don’t have now.” It further cites “equitable financial services, new ways to save, or new ways to share information” as some potential use cases for the tech.

Facebook launched its blockchain team in May. The team is headed by David Marcus, who had previously served as the company’s vice president of its Messenger app division. In June, the firm appointed a senior engineer, Evan Cheng, as its first “director of engineering, blockchain.”

The Cann Report

A 78-year old resident of Niagara Falls, New York, was evicted by his landlord for using medical marijuana, a report by High Times said.

The marshal read John Flickner his eviction order. Holding a plastic freezer bag containing his medical prescriptions, Flickner, who’s confined to a wheelchair, left his HUD-subsidized apartment.

Niagara Towers managers could have let him stay.

Instead, they opted to enforce the apartment complex’s strict drug policy and evicted Flickner for using medical cannabis to treat chronic pain from a 50-year-old spine injury.

READ: Aurora Cannabis shares light up as it enters Mexican market with exclusive supply deal

The office of legislative services, a nonpartisan bureau that assists with crafting and studying legislation, estimates that New Jersey would bring in a little over $210 million in state taxes from nearly $1.8 billion in annual marijuana sales, according to its fiscal impact study of the legal weed bill, a report by the Asbury Park Press said.

That estimate was derived from comparing New Jersey and Colorado populations in 2017, as well as Colorado marijuana sales that year. It represents less than 1% of the nearly $38 million state budget,

The legal weed bill would give New Jersey the cheapest marijuana tax in the nation, a main bone of contention between legislators and Governor Phil Murphy's office, which called for a 25% marijuana tax in its 2019 budget.

Instead, the marijuana legalization bill comes with a 12% tax. There is also a potential 2% tax that may be levied by local municipalities hosting marijuana dispensaries.

Contact Rene Pastor by [email protected]

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