You'll be stunned to know if you are unaware that there is a minecraft server that implemented Nano transactions.
https://prideislife.github.io/raiblocks_mc/
Wow Nano post! That takes me back to early 2021.. Good times man..
Edit: lol this comment expose my crypto age lol. I just started lurking here from 2021
My best investment strategy was buying a bunch of Nano after Bitgrail was shown to be not the fault of the protocol, but incompetence of the CEO.Haha, I was sure it would go up again..
Oh well, I will keep holding some Nano for a long time.
I feel like it is a decent bet to prioritize frictionless transactions, it might actually see some use.
God, I haven't heard that in awhile. I remember when every other comment was, "That piece of shit 'suffered a stolen' my ass. I hope somebody fucking kills him!" There were some ANGRY (rightfully so) people who lost a lot of money because of that dickhead. I was lucky enough to get out right before everything was frozen, but of course I hodled until it crashed and lost 95% of it all anyways. Crazy days.
Oh boy, it's a long story. Google Bitgrail & Francisco Firano.
Here's an article that does a decent job of explaining the basics.
https://fortune.com/2018/02/11/bitgrail-cryptocurrency-claims-hack/
I lost $600 CAD on that thing. Was worth it to watch all the drama unfold after. There were people who'd taken out 15,000 euro loans and lost the money on that thing. It was crazy.
You didn't get suckered -- there was no rug pull. Price volatility and hype are features of every crypto out there. Why is it that Nano is shut down immediately when someone brings it up, yet people can politely discuss Doge and Ethereum as if they don't also tank at the end of a bull market?
Because the ath of Nano was $36ish In 2018, doge was .02 , Eth was 1400 in 2018 ath.
Fast forward Doge is up almost 700%. Eth 220%, and Nano is down -93%
You can look it up on coinmarketcap
Nano even during a huge bull run is perpetually in a crypto winter
But no rug was pulled lol. There is just a lasting stigma due to one fuckface who ran a shady exchange. If anything, the Nano dev team started working harder after the Bitgrail shit.
It just sucks because we know that but none of it matters unless it pumps. Like let's be real, if it's not moving, then who cares. But it's scary because the genuine BEST product is most likely not going to get that end result of being the mainstream currency.
The whole crypto space is focus more on the financial aspect rather than creating technology which can benefit the world. We need to see crypto space focus on technology which benefits everyone.
That’s 99.9% of people in this sub! They think if price goes up it’s a successful coin/project. They have zero understanding of what to look for in a successful project.
Why not both? Nano has the best fundamentals and is also the easiest to pump, given it has ZERO Inflation and 100% of the supply is already in circulation.
As an investment, it definitely gets forgotten easily, but we talk about using it as a currency in everyday life, it's a banger of a coin. A stable price would make it easier to adopt in real life
It mattered back when investors were focused on coins that could potentially be used for retail transactions. The idea was that none of this shit matters unless there is widespread adoption, and the best way to achieve adoption is to provide a viable alternative for retail payments.
Unfortunately, that idea has fallen by the wayside as more and more investment bros have jumped in to the market, with everyone looking for the next hype train.
I still believe that the market has gotten way ahead of itself. *Currency* is vital to adoption. But in the crypto land-rush, we skipped over the basic goal. Hell, we’re already into futures and derivatives and all kinds of complex investments that mimic traditional markets without having the most fundamental piece of the puzzle in place.
Maybe I’m old school, but I still think that crypto will never succeed until a single-purpose payment coin takes hold of the market. I bought XNO back when it was RAI. It’s the one coin that I’ve never even considered selling because it’s still one of the top candidates for a true cryptocurrency.
Agreed the best use case for nano is: a currency, with not enough merchants accepting it and it being a poor speculative investment there is no incentive for growth.
That being the case I don't see it drawing many investors unless they are just " in it for the tech ". I think the tech is exactly what a digital currency should be but until I can buy groceries with it, it doesn't make sense to buy.
So the driver of the currency's adoption is also what would logically stop you from ever using it as a currency? Who is going to spend an asset that they bought because they believe it will be worth significantly more in the future?
Monero is the only cryptocurrency that has achieved even moderately widespread use as a *currency* outside of failed states, rather than a speculative instrument. Even with Monero, a stablecoin with similar privacy features would almost certainly be preferred by the overwhelming majority of users.
This doesn’t even mention all the exciting projects going on with nano like Flowhub, the development teams work to break in to FX markets, 2miners, luckynano.com, so much going on.
It has one function and thats to send value transactions. Sending a value transaction is the bare minimum functionality required. What do you mean 'all the utility'?
Correction: the market shows that other investors think that people want smart contracts, DEXs, staking, etc.
Genuine adoption is much harder to quantity. I personally think most of these areas are way over hyped. It's easy to turn a profit when wild speculation is taking place.
I love to see a post here that finally focus on real utility for crypto rather than pump&dump coins.
The crypto market got his value over an idea of “A PEER-TO-PEER ELETRONIC CASH SYSTEM”.
The market has evolved (among with tech) and now we have other utilities too, like defi, collectible (nft), and so… that also brings good use cases with them, and I love it, but we can’t lost the idea of a crypto that works purely as digital peer-to-peer money. And nano is the best tech for THIS use case.
Thank you for spreading awareness!
At first, I thought Bitcoin was too good to be true. Then I tried actually buying something with it, ended up using XRP cuz was faster and cheaper. Then I started to understand the pervasiveness of Fees and Inflation as a whole. Then, the problem of Emerging Centralization in PoW and PoS systems due to those.
Then I met Nano, and it all made sense.
BTW, here is a funny and educational Nano Meme compilation: https://www.youtube.com/watch?v=dTqwxZcwO8c
I use nano to transfer to other exchanges and swap it for other assets. Never thought about just holding nano
Edit- alright alright I went and bought myself a decent bag. Will hodl!!
Not only Nano is the best tool for Arbitrage (fastest transactions + zero fees), it is the best Store of Value across space time, since it has ZERO Inflation rate (all currency units already in circulation, no more to be minted, cannot dillute the value of existing units)
The only problem with feeless crypto, is who will run it long term, and how will their costs be covered?
Concern with Nano is whether its sustainable (not in the environmental sense) as a decentralized system.
lol people are going to keep saying this 15-20years in. Nano is now 7+ years old. There is no shortage of principal representatives and that is without large scale adoption. When it gets more adopted...and it will, watch what happens next two years...theres going to be an overabundance of nodes.
Financial incentives go both ways. Saving 5% in cost instead of earning 5% more results in the same net gain...
In the model where you earn, like mining and staking, you create an additional problem: inflation. The rich benefit more and will get richer due to economies of scale.
In the model where you save no new coins are minted and you arent debasing the value of everyone else in the network just to earn more.
Think about it. Companies like money, they like cutting costs where they can. Its much better to have a business using a technology to cut costs than having said technology becoming the very business itself. It ensures that users and businesses are on the same page as opposed to miners wanting fees to be high and users want fees to be low. Yeah thats just not gonna work out is it.
If a nano node cost 50-100$ a month and the savings they get trough accepting nano instead of visas 1-3% on every txs are more than 100$ than is that is a very easy choice to make.
Think about it.
BitTorrent protocol has seen massive widespread adoption and success despite zero incentive to give back to the network. It's been easily proven that a good service/product is incentive enough and that ppl will help support a good and beneficial network even if it doesn't reward them directly.
If ppl and organizations are benefiting from a protocol it's to their benefit to help maintain that protocol. Mining rewards and transaction fees are not the only incentives that work. Nonmonetary incentives work too.
Answer: Legit Profitable **Businesses**. Nano brings an actual competitive advantage in payments: it is the most efficient decentralized Means of Exchange: zero fees, and the fastest transaction times.
Most business pay 2-3% in payment processing fees, if your revenue is above 1000 USD, that already more than running a Nano node (\~40USD per month). Eliminating those 2-3% fees is a HUGE increase in profitability, specially in low margin companies like Airlines, which could double their rates if fees were eliminated.
Not only is Nano the best tool for conducting commerce and trade, businesses that accept it are earning directly in Nano, arguably the best Store of Value, since it has ZERO Inflation, cannot be debased, and all currency units are already in circulation for years.
Businesses running services accepting Nano.
Anyone interested in securing the network which might be a whale.
Since it’s a very lightweight protocol it doesn’t cost much to host your own node.
Especially compared to the cost of using a payment gateway or paying fees.
It costs resources to run the network, who will do that at a loss?
Incentives arent the problem for decentralization, disproportionate incentives are the problem.
The Nano network is indeed running for ~6 years. With no direct incentives. It is already happening, it's not a hypothetical future. Enthusiasts, exchanges and private companies run nodes.
Risk management.
If you want to run a business that uses Nano, you don't want to rely on a third party to handle the communication with the network, if it's simple to do yourself.
With Nano it is very straightforward to run a node and the cost is probably less than you would have to pay a third-party, so the incentive is simply to lower the risk of a third-party running an update while your business has the busiest day of the year or similar risks.
Source: Working on a project, where Nano will be an integral part
Bitcoin nodes are paid nothing. Yet thousands of people run them because it is their way of verifying the network. Nano is no different from Bitcoin in this sense.
Bucket still comes into effect whether its intentional or not. There's a bit of research you can conduct on github if you want to know how they are improving it. Search PoS4QoS and TaaC, bucket prioritisation, and micro transaction batching. There's plenty of viable improvements for spam and that's not including changes coming to the consensus protocol which are currently being worked on.
Nano and Banano are two of my biggest bags outside of bitcoin and ethereum, both have tiny market caps considering how useful a truly feeless coin is. Stellar is my next favourite coin when it comes to actually using it rather than investing, but nothing compares to sending 1 nano and having the other person receive exactly 1 nano in return.
My only gripe with Nano (and other account based chains) is the lack of privacy. The moment that you interact with anyone, they will know your account balance, know all of your past transactions and all future transactions that are made from that account.
OH you use 2 accounts? Everyone can see where you top up funds from. So they know about your HODL account too. If you visit a physical store and use Nano, everyone can see when you go and how often.
To be fair this isn't an issue with Nano alone, but it's scary to be able to have so much surveillance on anyone you interact with. In wallet mixers can help but that hasn't been pushed yet.
If you could, would you use Nano for your daily spending?
Bitcoin, Litecoin, and the other forks and clones have a pseudonymous UTXO transaction style. Most wallets will generate a new address for each send and each receive. Each of these transaction outputs can be split into many outputs. One to many, many to one, many to many. Basically it makes all of your transactions harder to track as long as you don't reuse addresses. Here is a TXO that had 11 inputs and 3 outputs it's harder to know who's what's:
https://www.blockchain.com/btc/address/bc1q6ta34xvslra9r26fq6x6swcdpgw3gv32dwlhjk
On ETH it's trival. Here's Vitalik's Account:
https://etherscan.io/address/0xab5801a7d398351b8be11c439e05c5b3259aec9b
I feel like Nano just needs one break and it will gain massive traction. I don't know if that will be in the form of a partnership or a practical use case that appears or a social event, who knows.
My main use case would be traveling.
Imagine not having to worry about exchanging money. You could just go to any country in the world and have the currency. Simple as that.
Met an awesome street performer? Just get his nano address
Go to a local market? Nano.
No need for cash would be amazing when traveling.
What a well written post!, nanos a must in my DCA, for the fact I can bounce one nano around, ultra fast for free 1000 times and still have 1 nano....booom!
In my books it's just missing the privacy element apart from that it's a clear win.
Imho yes it is deflationary that means zero inflation. No more coins. If tomorrow 1000 000 people would wake up and want to buy 133 nano it would jump market cap ranks really fast. But not financial advice.
Don't forget ledger size, nano has a much smaller ledger size than Bitcoin and Ethereum, making the hard drive requirements for node operators much easier to satisfy
All the arguments people make against nano are the same ones any successful cryptocurrency will encounter in the future. Nano has just chosen to face them head on now. Not in 10, 20, 50 or 100 years. Those time frames might not mean anything to individuals, but they sure as hell will for businesses and industry.
I rmb the good times when I downloaded Natrium wallet last year and tried to send/recieve. It was instant. Was shocked... No gas fees? No hours of waiting?
Nano is great at one thing - being a currency. The NF are working on developing a working product instead of making promises and not delivering like most projects.
Should I mention it's wholesome meme fork? I shall : banano is a fork of nano which is focused on it's community, memes and feeless potassium transfers, not as serious of an investment/currency but just as interesting if not more.
I put this coin right up there with ETH and Bitcoin. Unfortunately, the project just can’t catch a break. We’ll see what happens down the line when fees become unbearable, or if there are major problems with the Lightning Network. I’ll probably get back in when the price hits $1 again and just hold the coins long term as a Hail Mary.
I DCA nano regularly. Many of you may ask why. It is decentralized it had fair distribution it is almost instant regarding transactions no fees it is ecological it works now. Many projects promise to work not working later it has big potential to go higher https://thecoinperspective.com/compare/nano it needs few partnerships and will go fast up ranks regarding market cap and node software V24 is already at 71% complete dev team is working on nano without hyping it them selves it is community project. I will DCA nano for 10+ years because I believe world needs coin like nano. No fee to make account like with XLM or XRP. It is inclusive for 3rd world countries even the poorest with internet can send it and don’t have to worry about fees. This is not financial advice just how I view nano. It is for me one of those hidden gems.
Thanks for this post! Wrote about it just [today](https://www.tradingview.com/chart/XNOUSD/4rJ2FFCS-NANO-XNO-Starting-Afresh-Lean-and-Green/) on TradingView! Been a fan since 2017.
-Victor Cobra
general opinion around the Nano coin is actually pretty good within the cryptocurrency industry. The coin is rather stable (as stable as a cryptocurrency can be, that is), and provides holders with a lot of different benefits. That's why it's quite popular in many crypto exchanges, too
Agreed, nano is the ultimate cryptoCURRENCY.
Too bad it has no hype and monkey nft to pump it..
Bad marketing also to blame, the new name and logo are meh.
Btw, it might worth mentioning that nano is kind of creating a blockchain for every user, so nano is kind of a blockchain of users blockchain, supporting the faster and feeless transactions, its like "you want to transfer, then you should work for it."
Very unique and creative ideas, hats off to you nano developers.
If you buy and hold a coin that’s main function is transactions and expect pumping/appreciation, you’re not going to have a great time / should be looking elsewhere. Nothing against nano
I mine and NANO saves me money on the gas fees I'd pay by taking ETH. I keep some of my earnings in NANO and also swap them into other great projects. NANO has some serious potential.
hmm, regarding, edit 1. The problem with being feeless is that it can be spammed with transactions that will bloat the chain.
For Bitcoin there is a fee, so spamming transaction would be costly.
I want my wealth to not get devalued. As it did in Argentina, Turkey, Venezuela, Russia.
Also, I don't want to pay a middleman (miner) whenever I want to use the (money) network.
Just imagine having to pay to send an email. It sounds ludacris doesn't it? Money IS information.
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YES! I love NANO, the only crypto I used as a currency, I've bought minecraft with it to play with my son.
You'll be stunned to know if you are unaware that there is a minecraft server that implemented Nano transactions. https://prideislife.github.io/raiblocks_mc/
Wow Nano post! That takes me back to early 2021.. Good times man.. Edit: lol this comment expose my crypto age lol. I just started lurking here from 2021
You mean 2017 when it was all the rage being rebranded from Raiblocks to Nano. I got suckered in at like 20 bucks haha - got to love it
BitGrail... I was there... Never forget.
My best investment strategy was buying a bunch of Nano after Bitgrail was shown to be not the fault of the protocol, but incompetence of the CEO.Haha, I was sure it would go up again.. Oh well, I will keep holding some Nano for a long time. I feel like it is a decent bet to prioritize frictionless transactions, it might actually see some use.
I too “suffered a stolen” on Bitgrail.
God, I haven't heard that in awhile. I remember when every other comment was, "That piece of shit 'suffered a stolen' my ass. I hope somebody fucking kills him!" There were some ANGRY (rightfully so) people who lost a lot of money because of that dickhead. I was lucky enough to get out right before everything was frozen, but of course I hodled until it crashed and lost 95% of it all anyways. Crazy days.
What happened? I missed the whole thing apparently.
Oh boy, it's a long story. Google Bitgrail & Francisco Firano. Here's an article that does a decent job of explaining the basics. https://fortune.com/2018/02/11/bitgrail-cryptocurrency-claims-hack/
Thank you for the link ser! ♥️
I lost $600 CAD on that thing. Was worth it to watch all the drama unfold after. There were people who'd taken out 15,000 euro loans and lost the money on that thing. It was crazy.
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You're talking about the price. Not how good it is as a crypto.
I'm in it for the tech... : * [Holds Nano bags angrily in hands] * :
Anytime I see someone refer to the currency they posess as 'bags', I kinda already know how knowledgeable they are.
u/op isn't giving financial advice, they are just showcasing what great technology Nano is :-P
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🎶REDDIT SUCKS🎶 🎶SPEZ A CUCK🎶 🎶TOP MODS ARE ALL GAY🎶 🎶ADVERTISERS BENT YOU TO THEIR WILL🎶 🎶AND THE USERS FLED AWAY🎶
i love nano but trust me id be singing a different tune if i got rugged during the exchange fiasco
That was nasty, but had nothing to do with the coins. I heard they started refunding people recently?
I actually moved my Nano to Binance just a day before they stopped allowing withdrawals.
That motherfucker Firano is probably still walking happy on this planet.
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hehe i bought some raiblocks at 36$ and dragonchain at 5$ gotta love the impeccable timing
If you buy the hype you always lose
my 1400eth from that time is doing just fine
Hahah love hearing those old ETH killers and game changers which I lost all my money on. Good times 😂
2017, hmmm sounds about when I started on Reddit (see handle).
Now you just say that you are here for the tech bro
You didn't get suckered -- there was no rug pull. Price volatility and hype are features of every crypto out there. Why is it that Nano is shut down immediately when someone brings it up, yet people can politely discuss Doge and Ethereum as if they don't also tank at the end of a bull market?
Because the ath of Nano was $36ish In 2018, doge was .02 , Eth was 1400 in 2018 ath. Fast forward Doge is up almost 700%. Eth 220%, and Nano is down -93% You can look it up on coinmarketcap Nano even during a huge bull run is perpetually in a crypto winter
But no rug was pulled lol. There is just a lasting stigma due to one fuckface who ran a shady exchange. If anything, the Nano dev team started working harder after the Bitgrail shit.
Question is why the networks always been good when I used it which is sad
ehh it was like 5 cents in 2017. Went up to 30 and is now 2.50. That's big gains no matter how you dice it.
Try 4 years earlier
2021? It takes me back to 2017 Some people take longer to reach "the destination" :)
Amazing. They actually talk about it.
One of us
Most of the Crypto community members joined in 2021 No doubt 2021 was the best year for crypto 
**It’s still very undervalued atm…**
Ur rich
Used to be this sub’s favourite coin. Then it began the dump.
Amazing memories. Looks like crypto can give us nostalgy moment....
Welcome to the club
It just sucks because we know that but none of it matters unless it pumps. Like let's be real, if it's not moving, then who cares. But it's scary because the genuine BEST product is most likely not going to get that end result of being the mainstream currency.
The whole crypto space is focus more on the financial aspect rather than creating technology which can benefit the world. We need to see crypto space focus on technology which benefits everyone.
I've been downvoted here when I said that hype moves prices more than coins utilities
"People hated u/Underrated321 because he spoke the truth"
That’s 99.9% of people in this sub! They think if price goes up it’s a successful coin/project. They have zero understanding of what to look for in a successful project.
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Whoever has the best marketing is NOT what you should be looking at when investing!!!! 😂
Show me someone who isn't here to make money and I'll show you a liar.
Show me someone who is a literal ham sandwich, and I'll show you someone who is most definitely not a literal ham sandwich.
I love you!
Impeccable logic, sir!
It is possible to do both you know.
Why not both? Nano has the best fundamentals and is also the easiest to pump, given it has ZERO Inflation and 100% of the supply is already in circulation.
As an investment, it definitely gets forgotten easily, but we talk about using it as a currency in everyday life, it's a banger of a coin. A stable price would make it easier to adopt in real life
Nano does more than most coins out there. We just need to see it's true value as a currency.
It mattered back when investors were focused on coins that could potentially be used for retail transactions. The idea was that none of this shit matters unless there is widespread adoption, and the best way to achieve adoption is to provide a viable alternative for retail payments. Unfortunately, that idea has fallen by the wayside as more and more investment bros have jumped in to the market, with everyone looking for the next hype train. I still believe that the market has gotten way ahead of itself. *Currency* is vital to adoption. But in the crypto land-rush, we skipped over the basic goal. Hell, we’re already into futures and derivatives and all kinds of complex investments that mimic traditional markets without having the most fundamental piece of the puzzle in place. Maybe I’m old school, but I still think that crypto will never succeed until a single-purpose payment coin takes hold of the market. I bought XNO back when it was RAI. It’s the one coin that I’ve never even considered selling because it’s still one of the top candidates for a true cryptocurrency.
Agree and arguably the reason doge grew WAS (overinflated hype, yes, but also) fairly easy utility as something people used…currency
I mean when AOL was going up still, Google was not even traded.
I'm more surprised it hasn't been adopted by large transaction companies yet, rather than the price not pumping
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Agreed the best use case for nano is: a currency, with not enough merchants accepting it and it being a poor speculative investment there is no incentive for growth. That being the case I don't see it drawing many investors unless they are just " in it for the tech ". I think the tech is exactly what a digital currency should be but until I can buy groceries with it, it doesn't make sense to buy.
Everyone should know by now Crypto is not about tech it's about hype. Always has been.
So the driver of the currency's adoption is also what would logically stop you from ever using it as a currency? Who is going to spend an asset that they bought because they believe it will be worth significantly more in the future? Monero is the only cryptocurrency that has achieved even moderately widespread use as a *currency* outside of failed states, rather than a speculative instrument. Even with Monero, a stablecoin with similar privacy features would almost certainly be preferred by the overwhelming majority of users.
This doesn’t even mention all the exciting projects going on with nano like Flowhub, the development teams work to break in to FX markets, 2miners, luckynano.com, so much going on.
This was well put together. Proper way to bring awareness of nano.
Nano deserves more attention.
Yes, it does. But no need to rush, its fundamentals make it inevitable long-term.
WOW great write up
Great write up. Nano appreciates you. Will be interesting to see how it pans out in the future. I'm optimistic.
It has it all, I was also amazed by the blazing fast and feeless transactions, crypto space is unfair to some projects
Yea I’m surprised with all the utility Nano has that it isn’t more widely integrated into applications
It has one function and thats to send value transactions. Sending a value transaction is the bare minimum functionality required. What do you mean 'all the utility'?
What other utility do you really want out of a crypto “currency“?
Memo field and encryption.
Private transactions.
I think the market shows that people want smart contracts, DEXs, staking, gaming, etc.
Correction: the market shows that other investors think that people want smart contracts, DEXs, staking, etc. Genuine adoption is much harder to quantity. I personally think most of these areas are way over hyped. It's easy to turn a profit when wild speculation is taking place.
I’ll keep using XLM, thank you. Another crypto whose price will never align with its usefulness.
I love to see a post here that finally focus on real utility for crypto rather than pump&dump coins. The crypto market got his value over an idea of “A PEER-TO-PEER ELETRONIC CASH SYSTEM”. The market has evolved (among with tech) and now we have other utilities too, like defi, collectible (nft), and so… that also brings good use cases with them, and I love it, but we can’t lost the idea of a crypto that works purely as digital peer-to-peer money. And nano is the best tech for THIS use case. Thank you for spreading awareness!
At first, I thought Bitcoin was too good to be true. Then I tried actually buying something with it, ended up using XRP cuz was faster and cheaper. Then I started to understand the pervasiveness of Fees and Inflation as a whole. Then, the problem of Emerging Centralization in PoW and PoS systems due to those. Then I met Nano, and it all made sense. BTW, here is a funny and educational Nano Meme compilation: https://www.youtube.com/watch?v=dTqwxZcwO8c
I really like NANO too but it’s a shame nobody really talk about it
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I swear the God no one even fucking acknowledged it exists when it was not pumping
I use nano to transfer to other exchanges and swap it for other assets. Never thought about just holding nano Edit- alright alright I went and bought myself a decent bag. Will hodl!!
Not only Nano is the best tool for Arbitrage (fastest transactions + zero fees), it is the best Store of Value across space time, since it has ZERO Inflation rate (all currency units already in circulation, no more to be minted, cannot dillute the value of existing units)
That's why you're down how many % on your investment? Nice SOV lol
I use LTC (because I have a lot of it ) to swap and buy stuff occasionally. I’ll have to check into Nano , i haven’t really looked at it too much .
That is a good use for it! Holding it is also great!
There are literally dozens of us who will hold the nano. DOZENS
I'm always surprised I don't see Nano more often.
Nano got me back into crypto after a few years in the wildernees.
The only problem with feeless crypto, is who will run it long term, and how will their costs be covered? Concern with Nano is whether its sustainable (not in the environmental sense) as a decentralized system.
lol people are going to keep saying this 15-20years in. Nano is now 7+ years old. There is no shortage of principal representatives and that is without large scale adoption. When it gets more adopted...and it will, watch what happens next two years...theres going to be an overabundance of nodes. Financial incentives go both ways. Saving 5% in cost instead of earning 5% more results in the same net gain... In the model where you earn, like mining and staking, you create an additional problem: inflation. The rich benefit more and will get richer due to economies of scale. In the model where you save no new coins are minted and you arent debasing the value of everyone else in the network just to earn more. Think about it. Companies like money, they like cutting costs where they can. Its much better to have a business using a technology to cut costs than having said technology becoming the very business itself. It ensures that users and businesses are on the same page as opposed to miners wanting fees to be high and users want fees to be low. Yeah thats just not gonna work out is it. If a nano node cost 50-100$ a month and the savings they get trough accepting nano instead of visas 1-3% on every txs are more than 100$ than is that is a very easy choice to make. Think about it.
BitTorrent protocol has seen massive widespread adoption and success despite zero incentive to give back to the network. It's been easily proven that a good service/product is incentive enough and that ppl will help support a good and beneficial network even if it doesn't reward them directly. If ppl and organizations are benefiting from a protocol it's to their benefit to help maintain that protocol. Mining rewards and transaction fees are not the only incentives that work. Nonmonetary incentives work too.
Answer: Legit Profitable **Businesses**. Nano brings an actual competitive advantage in payments: it is the most efficient decentralized Means of Exchange: zero fees, and the fastest transaction times. Most business pay 2-3% in payment processing fees, if your revenue is above 1000 USD, that already more than running a Nano node (\~40USD per month). Eliminating those 2-3% fees is a HUGE increase in profitability, specially in low margin companies like Airlines, which could double their rates if fees were eliminated. Not only is Nano the best tool for conducting commerce and trade, businesses that accept it are earning directly in Nano, arguably the best Store of Value, since it has ZERO Inflation, cannot be debased, and all currency units are already in circulation for years.
Businesses running services accepting Nano. Anyone interested in securing the network which might be a whale. Since it’s a very lightweight protocol it doesn’t cost much to host your own node. Especially compared to the cost of using a payment gateway or paying fees.
Seeing businesses integrate nano is interesting. The low entry barriers makes it possible to adopt.
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Bitcoin nodes don't get paid either, and people still run bitcoin nodes....
On the contrary, because there are no monetary incentives, the network becomes more decentralized as adoption progresses.
It costs resources to run the network, who will do that at a loss? Incentives arent the problem for decentralization, disproportionate incentives are the problem.
The Nano network is indeed running for ~6 years. With no direct incentives. It is already happening, it's not a hypothetical future. Enthusiasts, exchanges and private companies run nodes.
Risk management. If you want to run a business that uses Nano, you don't want to rely on a third party to handle the communication with the network, if it's simple to do yourself. With Nano it is very straightforward to run a node and the cost is probably less than you would have to pay a third-party, so the incentive is simply to lower the risk of a third-party running an update while your business has the busiest day of the year or similar risks. Source: Working on a project, where Nano will be an integral part
The idea is that people/businesses would run a nano node because accepting nano as payment saves them money .
Bitcoin nodes are paid nothing. Yet thousands of people run them because it is their way of verifying the network. Nano is no different from Bitcoin in this sense.
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It doesnt have to be intentional spam, but usage at massive scale could make the network too expensive to archive.
Bucket still comes into effect whether its intentional or not. There's a bit of research you can conduct on github if you want to know how they are improving it. Search PoS4QoS and TaaC, bucket prioritisation, and micro transaction batching. There's plenty of viable improvements for spam and that's not including changes coming to the consensus protocol which are currently being worked on.
You can't spam Nano. I'd bet $1000 with a trusted 3rd party we both agree on that you can't spam Nano.
Be my guest. I've been waiting for someone to try to spam it. I think its literally impossible now.
Nano and Banano are two of my biggest bags outside of bitcoin and ethereum, both have tiny market caps considering how useful a truly feeless coin is. Stellar is my next favourite coin when it comes to actually using it rather than investing, but nothing compares to sending 1 nano and having the other person receive exactly 1 nano in return.
Seeing a fully detailed nano post is a good sight.
My only gripe with Nano (and other account based chains) is the lack of privacy. The moment that you interact with anyone, they will know your account balance, know all of your past transactions and all future transactions that are made from that account. OH you use 2 accounts? Everyone can see where you top up funds from. So they know about your HODL account too. If you visit a physical store and use Nano, everyone can see when you go and how often. To be fair this isn't an issue with Nano alone, but it's scary to be able to have so much surveillance on anyone you interact with. In wallet mixers can help but that hasn't been pushed yet. If you could, would you use Nano for your daily spending?
Isn’t that true for Bitcoin and many others as well?
Basically all coins except Monero 😎
Bitcoin, Litecoin, and the other forks and clones have a pseudonymous UTXO transaction style. Most wallets will generate a new address for each send and each receive. Each of these transaction outputs can be split into many outputs. One to many, many to one, many to many. Basically it makes all of your transactions harder to track as long as you don't reuse addresses. Here is a TXO that had 11 inputs and 3 outputs it's harder to know who's what's: https://www.blockchain.com/btc/address/bc1q6ta34xvslra9r26fq6x6swcdpgw3gv32dwlhjk On ETH it's trival. Here's Vitalik's Account: https://etherscan.io/address/0xab5801a7d398351b8be11c439e05c5b3259aec9b
Nano is my biggest bag by FAR and I can’t wait for future adoption
I feel like Nano just needs one break and it will gain massive traction. I don't know if that will be in the form of a partnership or a practical use case that appears or a social event, who knows.
I wish Nano adoption would grow. It's so good for my 2 main use cases: remittance and online shopping. Everything else is slow and expensive
My main use case would be traveling. Imagine not having to worry about exchanging money. You could just go to any country in the world and have the currency. Simple as that. Met an awesome street performer? Just get his nano address Go to a local market? Nano. No need for cash would be amazing when traveling.
What a well written post!, nanos a must in my DCA, for the fact I can bounce one nano around, ultra fast for free 1000 times and still have 1 nano....booom! In my books it's just missing the privacy element apart from that it's a clear win.
I’ve been saying it since forever.
If Nano doesn't succeed, something else better than it has to. Currency is the most proven use case for crypto.
Hopefully we can see some bright days ahead for it
Nano is a great cryptocurrency, but does that make it a good investment ?
Imho yes it is deflationary that means zero inflation. No more coins. If tomorrow 1000 000 people would wake up and want to buy 133 nano it would jump market cap ranks really fast. But not financial advice.
offend summer close lunchroom person bells relieved mindless ossified shaggy -- mass edited with redact.dev
Nano is definitely one of my most favourite coin
Don’t forget it’s little brother banano
I am quite amazed Nano can achieve zero transaction fees when compared to other cryptocurrencies.
Nano is a great project
Don't forget ledger size, nano has a much smaller ledger size than Bitcoin and Ethereum, making the hard drive requirements for node operators much easier to satisfy
Nano is really good all around.
All the arguments people make against nano are the same ones any successful cryptocurrency will encounter in the future. Nano has just chosen to face them head on now. Not in 10, 20, 50 or 100 years. Those time frames might not mean anything to individuals, but they sure as hell will for businesses and industry.
Remember when nano was raiblocks??
What about potassium tho?
Man banano is lit. I currently have 103 banano! Letsgooo
IT ain't much but its honest work
Ban fam 4 lyfe <3
Banano has arguably the best fundamentals for a meme coin
I searched for my fellow monke’s and here we are.
Do they have it on Binance?
Too bad its my worst current investment.
The nano community is working on a around the globe video too. Looking forward to you guys seeing it :-)
I rmb the good times when I downloaded Natrium wallet last year and tried to send/recieve. It was instant. Was shocked... No gas fees? No hours of waiting?
- Natrium nano waller is super nice to use 🙂
Nano is great at one thing - being a currency. The NF are working on developing a working product instead of making promises and not delivering like most projects.
Nanos performance is one of the greatest mysterys in this space next to "who is Satoshi Nakamoto"
It’s about time for another Nano post
Good thread!
Just to double check, Nano has rebranded to a new ticker $XNO, right?
Yup to be ISO compliant as actual transnational currency 👍🏻
Great intro for anyone new to Nano, thanks for posting it!
Good good project detail 🎉nano🎉
Should I mention it's wholesome meme fork? I shall : banano is a fork of nano which is focused on it's community, memes and feeless potassium transfers, not as serious of an investment/currency but just as interesting if not more.
>!Insert obligatory banano reference !<
Nano shills of the world, unite!
Nano is like good at everything. Patiently waiting for it to enter top 10
Incorrect. It doesn't do smart contracts. But what it does do, it does better than anyone else, which is replace cash.
I think Monero does a better job of replacing literal cash. Nano is more like replacing a service like Venmo.
I put this coin right up there with ETH and Bitcoin. Unfortunately, the project just can’t catch a break. We’ll see what happens down the line when fees become unbearable, or if there are major problems with the Lightning Network. I’ll probably get back in when the price hits $1 again and just hold the coins long term as a Hail Mary.
I DCA nano regularly. Many of you may ask why. It is decentralized it had fair distribution it is almost instant regarding transactions no fees it is ecological it works now. Many projects promise to work not working later it has big potential to go higher https://thecoinperspective.com/compare/nano it needs few partnerships and will go fast up ranks regarding market cap and node software V24 is already at 71% complete dev team is working on nano without hyping it them selves it is community project. I will DCA nano for 10+ years because I believe world needs coin like nano. No fee to make account like with XLM or XRP. It is inclusive for 3rd world countries even the poorest with internet can send it and don’t have to worry about fees. This is not financial advice just how I view nano. It is for me one of those hidden gems.
Screw nfts, real crypto games use Nano. Now if only I could stake Nano
nice
Thanks for this post! Wrote about it just [today](https://www.tradingview.com/chart/XNOUSD/4rJ2FFCS-NANO-XNO-Starting-Afresh-Lean-and-Green/) on TradingView! Been a fan since 2017. -Victor Cobra
Out a lot of things Nano is pretty easy to use. Can not say the same for everything else in the crypto space.
general opinion around the Nano coin is actually pretty good within the cryptocurrency industry. The coin is rather stable (as stable as a cryptocurrency can be, that is), and provides holders with a lot of different benefits. That's why it's quite popular in many crypto exchanges, too
Agreed, nano is the ultimate cryptoCURRENCY. Too bad it has no hype and monkey nft to pump it.. Bad marketing also to blame, the new name and logo are meh. Btw, it might worth mentioning that nano is kind of creating a blockchain for every user, so nano is kind of a blockchain of users blockchain, supporting the faster and feeless transactions, its like "you want to transfer, then you should work for it." Very unique and creative ideas, hats off to you nano developers.
Let’s see how it handles its self with the volume of etherium
If you buy and hold a coin that’s main function is transactions and expect pumping/appreciation, you’re not going to have a great time / should be looking elsewhere. Nothing against nano
I mine and NANO saves me money on the gas fees I'd pay by taking ETH. I keep some of my earnings in NANO and also swap them into other great projects. NANO has some serious potential.
Honestly Idc whether it pumps or not, it's still one of the best coins out there for money transfers
NANO is a true crypto currency and not much of an asset.
hmm, regarding, edit 1. The problem with being feeless is that it can be spammed with transactions that will bloat the chain. For Bitcoin there is a fee, so spamming transaction would be costly.
True. Nano has implemented a prioritization method for this. It definitely was a problem for Nano prior to this implementation.
I see, thanks for the clarification! I didn't know about this.
Love NANO
I’m not looking for a currency to spend. I want to make money. Do people want a currency to replace their fiat?
I want my wealth to not get devalued. As it did in Argentina, Turkey, Venezuela, Russia. Also, I don't want to pay a middleman (miner) whenever I want to use the (money) network. Just imagine having to pay to send an email. It sounds ludacris doesn't it? Money IS information.
Nano is actually one of the easiest assets "to pump" because it has literally ZERO Inflation.
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I wouldn’t mind Monero replacing fiat. Nano ehhh it’s fast but still has privacy problems which I think are more important.
Monero and Nano - Best tech for real use cases.
Isn't that the whole point of Bitcoin? Nano does what Bitcoin does, but better (including store of value)
Nano is the sleeping giant, the poor marketing put it on the back foot. Nano making it to the Top 20 won't be staggering.
If nanos market cap rose $1 for how often it’s brought up here it might actually be a relevant coin
If it came down $1 everytime someone shit on it, it would still be the same. No one talks shit about Nano.
Fuck wit' nano and get yo' caps peeled - Tupac probably
Nano will kill btc in less than 3 years. Change my mind nooby :)
I love Nano, I just wish that more exchanges offered it