Topic: Thoughts on NANO? (Read 160 times)

Hi there,

First time on bitcointalk and first reply, just wanna share some questions:
1. I'm confused when NANO tells they have free transaction fee, cuz transaction fee is usually counted as a motivation to minors even to the whole blockchain running, if the transaction fee is free, how could we transfer value through NANO safely?
2. Besides free transaction fee, what else would be the unique advantage of NANO comparing to Ripple or Stellar?

Thanks

I got intrigued by this agains't the flow Nano performance last days, wondering what are the motives behind it.

A kind of coin that is absolutely doing a good performance in the crypto market and an appealing coin for potential investment. As always, I came to notice that when bitcoin got into dip this Nano coin is still progressing and doing great in the market. Perhaps what contributes to its good performance is that Nano coin has its own blockchain and each transaction has a block of its own.

If you're talking about the BitGrail fiasco, everything is pointing to either the exchange operator (Francesco Firano) being totally incompetent and writing terrible code or him actually being complicit in the theft.  I've seen absolutely no evidence that it was caused by any shortcomings in NANO itself though.

I don't know how I feel about Nano. I know that I really like the concept. It is super fast transaction wise and there are no transaction fees which is incredibly amazing for starters. But I don't like that there was a recent hack that turns me away. Maybe I might invest later on but who knows

I'm sorry but I really have no idea what you're saying.


I'm ambivalent about the name change.  On one hand, NANO does sound better.  On the other, the name is not only generic, it's already in use by several other well known commercial entities, one of which is involved in the crypto-world which makes it hard to find answers on google.  I tried to find an answer to a wallet related question and no matter what search query I used, google kept spitting out links to the Ledger Nano S.  

@bubbagump: Thanks for the clarification.

@An0nyMoose: Decentralized in the sense of use of a peer to peer blockchain like the original Bitcoin?

Ripple and stellar are both centralized coins. Satoshis vision was decentralized peer to peer cryptocurrency.

NANO is a decentralized cryptocurrency that is fast and has low fees.

Good  project I may say. I first got it when it was Raiblocks or XRB. Now that it was renamed as NANO, I think it has more potential. I already set aside a portion of my crypto assets on this, as part of my portfolio. I know it has a long way to go, but they have a solid project. I hope it will reach new highs.

Nano is actually a form of another kind of coin or token that connected into cryptocurrency business, nano is siminarly in any other tokens or coins, and manage by a generous person, although nano is quite the same to any other coin or token but their price value are not totally level. We really knows that many types of coins created, it is only on how the majority of community users accept and adopt, and if more people used, it will also affects the volume of supply and their price value.

The decentralization and self management.  Ripple is currently totally centralized with 60% of coins being sold by the devs to corporate interests at their own discretion and Stellar still has more than 80% locked up by the devs for future use/issuance.

What aspect(s) of Satoshi's vision?


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I'm not sure if NANO fans being seen as devoted coin evangelists is a good thing to be honest.  Even if they really just like the coin and are enthusiastic about it, a lot of the things that I've read look like paid shilling.  Hell, my own post looks like that and I'm just asking whether others see it as something worth further "investment".  

Do you think that it can overcome the relative "late-comer" status? As it stands, there are already several viable cheap payment-centric coins that have already carved out strongholds in the space.  The ones that come to mind in particular are LiteCoin, Ripple and Stellar since they're all widely known at this point as well as cheap and relatively fast.  LiteCoin isn't as fast as the others, but it has been around a long time and now has a dedicated payment system that just came online and Ripple/Stellar are both insanely fast and cheap but don't have the "spirit" of Satoshi's vision in their implementations.

Edit:  I guess I should include BitcoinCash in that list as well, but I don't really see it going anywhere as long as they keep Bitcoin in their name.  In my mind, the name makes it look like a desperate knockoff.  And that's not even including the other negatives like not really solving scalability and slow transaction speeds.

In the long run, whether Nano keeps growing is largely due to its acceptance as a payment method in the future. The good news for buyers is that Nano users have gotten a reputation as devoted coin evangelists, and there’s no denying its status as one of the most efficient coins around. The bad news is that function isn’t everything. Sheer quantity of buying and price manipulation are much more important factors in currency prices. This is especially true of a token like XRB that’s designed to hold value and be transferred.

What do you all think of NANO?  Is it really as good as it seems?  I'm sure that most of you have heard the saying "Fast, good and cheap; pick 2" otherwise known as the iron triangle.  This seems to be true in most cases in software development as well as business in general.  In the world of cryptocurrency, it seems to have held true every single time.  However, everything I've read about NANO seems to indicate that it might actually be the first coin to encompass all three.  It's definitely fast.  I mean, it's ridiculously fast, as in, it takes a couple seconds to get from point A to point B and it's final as soon as it shows up at point B.  No waiting for confirmations or anything.  It's also cheap—actually, it's not just cheap, it's free.  There are no fees whatsoever since it's not dependent on miners or masternodes or any other sort of paid validators.  That just leaves good, and so far, I don't think that there have been any real flaws that have been found.  There are some potential issues, but they look to be easily fixable and/or improvable.  Even Charlie Lee (aka SatoshiLite, creator of LiteCoin) seems to be taking an interest in it in this reddit post.

So what do you guys and gals think?  I've got a small amount of it but I'm not sure if I should get more or if I should hold off.