So Nano has:
No transaction fees
up to 7000 trasnsaction per second
Fast transaction speeds
Every wallet has a blockchain of its own
Very easy to set up a Node with the wallet meaning more decentralized network
I hold NO NANO at all, but from what I can tell does this mean this is the best currency in crypto right now? Its has godlike specifications and should be in the top 5 because of its fundimentals.
Honestly what are the downsides of NANO? What am I missing?
if it gets too big angry miners can fuck it up because of no fees
It's not Hashgraph. It's not run by a genius. Pass.
So network spamming, though this applies to Bitrcoin as well, when the Mempool was clogged up with spammed transactions back in december.
Not a downside
There is no incentive to run a node, so you're reliant on the charity of the community to keep it going.
>What am I missing?
nothing. best hold in crypto rn
>Solves only the problems that come with massive adoption
>Has no adoption
Buying NANO is like buying a giant 6 bedroom house decked out with bunkbeds, childrens toys, a jungle gym, and a minivan while still being a kissless virgin who's never talked to a girl in his life.
It's putting the cart before the horse, user.
>There is no incentive to run a node
You're automatically running a node when you use the wallet no?
Yeah Nano now needs merchants to actually use their coin.
nanofags, answer me this:
how is it possible that one dev in his spare time came up with a cryptocurrency that is supposedly superior to the efforts of everyone else in the space for the last decade?
if u are a whale or merchant you have incentive to help the network and run nodes
...
it is a downside because miners have insane amount of resources to FUD a coin whose success will/would make them become obsolete.
e.g. all the 15% annual inflation from ETH.
more than 10 BILLION USD annually.
that's just what ETH holders are paying away to miners in the form of inflation.
Why is 7,000 tps so impressive? I don't understand.
And the no transaction fee is just a checkbox for the brain dead moon boys.
Its currently the fastest tx/s in cryptocurrency, beats big giants like Ripple and Stellar. No transaction fee's means it also beats yet again XRP and XLM. Its the best currency from these specifications.
How come?
>inb4 faster and cheaper transactions for the merchants
That's the bullshit I've been told before... Which doesn't make sense when the whole point of the coin is they it's free and instant
running a node is super cheap.
there are thousands of bitcoin nodes around the world running that do no mining at all, also for free.
and running a bitcoin node is orders of magnitude more expensive than running a nano node.
exchanges run nodes because they need to. that alone would be enough, but you can be absoltely certain enthusiast will be running nodes forever.
No incentive to run a node, no disincentive for spamming the network.
Basically, it works fine on a small scale and could replace Litecoin and Bcash. But getting into Bitcoin or Ethereum territory would be infeasible without changes.
The only people who would be demanding for NANO to be accepted are just speculators who are waiting for the price to go up and will never spend NANO anyways.
You cannot get around this, Bitcoin grew organically:
>Was orignally worth only the amount of work done to mine it, so miners basically got tons for free
>Started trading it
>Exchanges were created
>Merchants began to accept it as it could be exchanged into fiat
>Speculators arrive and drive up the price and number of transactions
>Mass adoption causes high fees
>Solutions are implemented to lower fees (we are here)
NANO
>Created as solution to lower fees
>Speculators are calling for merchants to accept it SO THAT THEY CAN SELL IT AT A HIGHER PRICE AND NOT SPEND IT ON ANYTHING
You’re not going to make it kid
Not hugely true they have their own exchange and will eventually use nano as a trading pair so there will be reasons to hold it rather than just spend.
even IF you are a bare-speculator who doesn't wnat to lose a single nano (that's now how it works, a lot of people are willing to spend the crypto they're holding for a wide variety of reasons, e.g. being better than fiat), but you are willing to lose BTC/USD: you spend your nano for a free and instant transaction and rebuy the amount immediately for BTC/USD on an exchange.
boom.
s/that's now how it works/that's not how it works
To have an exchange you need volume
I mean even ETH trading pairs sometimes have volume issues and ETH is the 2nd largest coin! Not to mention BTC pairs on smaller exchanges. Bitcoin is still the gateway into crypto even when just until recently it was by far the slowest to move between exchanges and highest fees. Faster and cheaper will only get you so far, they are negotiable qualities of a currency. They are not dealbreakers like liquidity (dealbreaker for most people) and privacy (dealbreaker for some people).
Bitconnect had it's own exchange too, you can't manufacture real adoption.
BTC fees are cheap now, and now I have to go through an extra step of using binance or some other alt exchange whenever I want to spend crypto. No fees are not enough to drive adoption.
Yeah but imagine an exchange with no fees.
>Imagine an exchange with no fees
>Imagine
Imagine is all I can do because until there is a DEX there will always be fees, no one is going to create/host an exchange for free, and there's nothing wrong with fees for a quality service either.
Can you receive $1m in nano and leave it in cold storage for 10 years and come back and reliably know that you can still spend your nano? No, you can't.
It's fast because it's shit
Blockchains are immortal
you put .5 btc on an exchange and buy some nano weekly that you can spend. boom.
BTC is NOT intended to be a currency at the moment, it's pretty clear. it is a crypto-asset. maybe you can pay for a car or a house with BTC, but for a movie/video game/beer? even if you get confirmed in the first block, sometimes one hour passes between 2 blocks. and in the next bullrun BTC transaction fees WILL go above $50. there's literally no reason why they wouldn't. LN may or may not enable it to be a currency again, but it's a story for the future.
nano currently has the best potential to become the first actually widely adopted cryptoCURRENCY.
Are you using it for these things?
Will the NANO community spend it on these things?
I highly doubt it
BTC has the best chance of being a universally used cryptoCURRENCY and even bitcoin will probably never actually replace 1st world national currencies, as much as I think it should.
Should I dump everything into nano I am tempted to
>centralized
>no blockchain
>Double spending issues
>20% of the total supply was robbed
Literally kill yourself
i have bought video games and goods before with BTC. if nano was enabled i'd buy nano for my BTC and pay for them with nano instead. and even if i didn't believe in BTC, if nano got adopted at some place i actually use, i'd just deposit USD to e.g. bitfinex, lend it at much better interest rates than banks offer, and buy nano for it when i need some, and enjoy the feeless instant transactions.
and even if i really didn't want to move USD into crypto at all, i'd gladly be offering my services for nano so i can use it for the services i want.
when nano gets adoption, it will be spent. bitcoin was always rather inconvenient to spend, nano is super convenient.
lmao the double spend fuds are really getting beat like your uncle jacks horse.
>whales controlling the price of BTC at the drop of a hat
>coordinated pund groups wrecking regular HODLers.
>somehow better than "centralization"
fuck off jew, nano is going to the moon and you cant stop it
Lightning makes you obsolete
kill yourself nano fags
I will never trust nano
Rrrrreeeeeeeeeeeeeeeeeeeee
not the best argument for nano, bitcoin is way more diversified (amount/capita) than nano is for now. time will solve it, but whale manipulation will come to nano. but that's fine.
Fair enough then, user.
I don't think you're very representative of the wider NANO/crypto community in general though. Personally I spend cash on daily things and hoard my crypto. But I don't own any cryptoCURRENCIES, only a Proof of Stake platform coin so I have a pretty good reason to never spend any if I can help it.
Best of luck.
checked
Downsides:
- There have been bugs.
- Never tested at scale.
- No ability for smart contracts.
It's not as reliable, trusted, or well known as Bitcoin. The advantage of fast/feeless transactions will become moot once LN is mainstream.
So can Nano get widespread merchant adoption before Bitcoin can with LN? Nope, not unless it had a few years.
i was like that too. things turn different when you start gaining serious income in crypto.
genuis gonna genius
> no ability for smart contracts
lmao please keep your turing machines away from my finances
LN is a band-aid. Should start from scratch
you run a node because it's far cheaper than paying Visa 3% every purchase and also cheaper for the consumer
If your saying you cant mine NANO you're severely mistaken hoes. nano-miner.com
Not all smart contract systems are Turing complete. Bitcoin's isn't, it's a stack machine.
Corecucks feeling threatened. b-but muh litening notwork... fucking kike faggots, BTC IS CANCER
yeah but that only works as long as inflationary currencies exist. miners will still fud the shit out of nano to keep people in crypto overall giving 10% of their wealth to them annually.
its not "their own" exchange its run by a member of the discord community named jaydubs
>bitconnect comparison
low quality fud
That's like saying the internet should have been built into ip/tcp. Or every major website like youtube, google, facebook should've been built into the internet.
LN will be the new layer for cryptos, and will make almost all altcoins worthless.
Do you even know how LN works? Explain how it works then explain why you don't like it
Oh wait, you're just a retard who fell for partisan propaganda, like in all areas of human endeavor. You're no different from Trump supporters. It seems in all areas of contention there's one side that is pants on head retarded in the name of contrarianism and thinks everything is a conspiracy despite the evidence available in reality.
No it won't, because it's centralized trash, WE WILL DESTROY LIGHTNING NETWORK.
go fuck your boyfriend faggot kike
yup. nano threads always trigger Veeky Forums
>but.. but.. muh LN! its so fast and cheap and OFF CHAIN AND NOT IN THE WHITEPAPER so technically not even BTC anymore (like roger said)
>but.. but... muh masternodes!!! no incentive to run a node!!
as if anyone wants to use a currency thats controlled by neckbeard NEETS that browse Veeky Forums all day
>but muh doublespend
everyone knows that issues was caused by SHITgrail, hence why binance is successfully handling 30k BTC (2days ago) volume of NANO
You do realize you can still send bitcoin transactions? You do realize LN is not centralized?
Do you know what centralization means and can you give a concise technical explanation of how Lightning Network is centralized in any negative way?
They're not in the whitepaper but there were Bitcoin script (smart contract) opcodes developed by Satoshi specifically for supporting Lightning Network style second layer solutions
lists.linuxfoundation.org
It's clear you're not technical
Exactly why I hold zero nano.
It's not a good argument against nano and it's completely possible for this to happen. Satoshi invented a cryptocurrency in his spare time that was not only better than all of the predecessors that existed at the time, but it was orders of magnitude better and on the next game theoretical level entirely. So the "just one dev" argument doesn't hold. Satoshi was just one dev
That being said I don't hold any nano either.
if you check his credentials it's pretty clear that he is a software development genius, just not the kind that chases fame
nobody working on crypto full time tried to solve this problem.
this really wasn't such a serious issue prior to 2017 and the $30+ transaction fees. most people thought core would act when it will become an issue.
well it didn't. at least not in time. LN may solve this issue, but lord knows how long it will be before that shit is actually usable. nano is perfectly usable right now. i'm saying it definitely has a shot.
>Honestly what are the downsides of NANO? What am I missing?
no holding incentive
once the speculation fun dies down, thats it. the coin is from then on stagnant
and by 2017 they had by far the most development put down behind this. and they had no way to know when they started that it'd become this efficient. so it's actually very hard to beat them now in a short time.
>no inflation
>no holding incentive
what's the holding incentive behind ETH?
yep
only smart post itt
granted, 0.01% of nano community is trying to get it adopted for the sake of adoption rather than increase in price but it's not enough to go against eth/btc/ltc
>serious discussion
>makes shill thread
nice
once you start earning your income in crypto the views change.
if you're good at anything that can be sold online, look up crypto freelancer jobs.
that's why twitch adaptation is a crucial step. it makes some people earn income in nano.
It already does more TPS than BTC or ETH regularly, WTF are you talking about. Spammers have gotten the network up to 30 TPS a week ago. But they have given up for now since it is such a pain to spam the network and the network gives no fuck.
Biz is FUDing nano.... guess what that means?
BULL RUN BABY.
Biz is so full of retards that they make the opposite prediction on everything. Thanks guys, just increased my nano stack.
Nano is already faster, cheaper and more decentralized than LN. LN is garbage. It's time to move on, user.
It already happened look at the chart retard
You have no idea what you're talking about and you don't understand what decentralization is apart from on the buzzword level. Invest in KYScoin
>It's happening.
It will probably continue through the weekend.
LN will never work. Look up at Rick's latest ass raping of this centralized, complicated POS.
bumping this since im trading this up and down so good
You people are utter fucking idiots, why do you keep talking about this shit tier greedy moron
>quoting non mining nodes as proof that it's decentralized
Ironically kill yourself.
Why are you posting this? I dont give a single shit about either of the two. All Im saying is is that LN is absolutely retarded idea. Completely and uttery retarded.
> it already does more TPS than btc
Yes of course. Because no one is using it.
Kek nobody uses BTC. 7tps kek
>Nobody uses BTC
>Fees are too high because too many people want to use it
>WipesForehead.jpg
nigger coin
And in 10 years who will be laughing and who will be wagecucking
Pick one
>You
>You
only problem is it's not a cryptocurrency
so why did it also happen on Kucoin?
it is, you're retarded
gtfo
Fuck, I'm FOMOing so bad! Shits gonna be $100 in a couple of weeks!
25% of the max supply is with a criminal ready to dump at any second
This is a pump + dumb money. It'll take years before nano takes off. Sell while it's still above 100k sats
>Honestly what are the downsides of NANO? What am I missing?
You are not missing anything, but like with Bitcoin, it takes a few years until a new technology takes off. Cannot talk of others, but I am kind of "conservative" crypto investor, if there is such a thing, and I need to wait if more developers will jump on the train, how it will fare with large-scale attacks, if the coin has enough hodlers, if someone doesn't come up with successful double-spend attacks, etc. etc.
Don't be so impatient, newfags. :-)
Let's do a little math here, it appears its not Veeky Forums's strong suit.
Cost of Visa/Credit card transaction:
1%-2%
Cost of running a node:
$5 a month.
Benefits of running a node:
More business from cryptofaggots: 0.1% sales increase.
Hmmmm....
Feb 22 called, they want their FUD back
Look, let's be honest. 99% of Veeky Forums ain't give a fuck about the tech, team, or if it can ever be used to buy a fucking coffee. Right now, this is the coin everyone is talking about and this is the coin getting all that lovely dumb normie money.
This is free easy money at the moment!
>Operation RAPEDOG
Assraped Dogecoin
Cuckold Litecoin
BCH ETH BTC next on the list.
mass repliers deserve to be raped
Your mom mass replies.
Will we break 157k?
Oh shit
>8037561
Double spending
we just done did it my fren
Any FUD in this thread is from shills paid off from miners.
Miners have millions of dollars invested in their equipment and are scared of nano