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7433571 No.7433571 [Reply] [Original]

Why NANO haters are wrong:

>It's just fast & free, it doesn't do anything

https://qz.com/775159/theres-a-500-billion-remittance-market-and-bitcoin-startups-want-in-on-it/

Remittances, or immigrants sending money back home, involve $500b annually. Things like Western Union are ripping you off w/ their exorbitant fees, but it also takes a long time to send.You may not care about fast & free, but pajeet who wants to send all his funds home to pay his mothers emergency medical funds cares about a currency that can instantaneously transfer wallet-to-wallet for free.

>but network security, man in the middle 51% attacks

When a minimum of 51% of voting is required for a tx, a mitm attacker cannot control 51% of the representatives. a receiver will wait for confirmation from the majority of the representatives before they add the block to their history. representative nodes will sign blocks as they propagate through the network & a node will refrain from committing the block into their local database unless a high threshold of representatives have signed off on the block.

This can be solved at a wallet level, & protocol level implementation is also possible. Bitcoin offers protocol level solution for this, but at the cost of centralization by miners, lack of scalability/transaction fees. Nano offers no fees so a trade off must be made & this form of attack can be solved by the paranoid mode protocol

https://github.com/clemahieu/raiblocks/pull/362

>exchange issues

To be expected. The tech is new, & centralized exchanges are shit, but the dev team keeps the community updated DAILY & works tirelessly to fix them. It's a good thing that exchange issues are currently the biggest problem w/ something that mainly exists to be a transfer of value between personal wallets


>no incentive to run nodes

Merchants who run nodes for cheap will save money by avoiding debit/credit card tx fees with anyone pays in nano. This is amplified the larger the business is.

>> No.7433750

>>7433571
The devteam gangraped a dog in the asshole!
>That is wrong on so many levels dude.

>> No.7433767

The founders also only like 5% of the total supply. Compare that to XLM, one of its biggest competitors. If Nano gets fiat pairing it will take the fuck off. Good post OP, actual logic is rare on biz these days.

>> No.7433942

>>7433571
Yup. EOY gonna be wild for this coin.

>> No.7434384
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7434384

>>7433571
All will see soon

>> No.7434405

What is a Nano?

>> No.7434473

>>7433571
way to many coins in circulation though why is this not an issue. also devs hold a shit ton why is this not an issue?

>> No.7434516

>>7433767
are you trolling bc devs hold an absolute mammoth supply of nano....

>> No.7434520

>>7434405
An old ipod that no one talks about anymore

>> No.7434621

>>7433571
What? Remittance is going to be cornered by ripple. Moneygram anyone? More to follow.

Nano is barely functional and has no history showing it can run at extreme loads.

>> No.7434789

It's too volatile to use as a currency and you have to pay exchange fees for the merchant to change to fiat, and for the consumer to change to xrb.

It's also not anonymous, nor can it right now handle VISA level scaling (100k+ tx/s) although it's the best of crypto.

Neither can it handle refunds or subscriptions. It's years to go before it can be used seriously for payments.

Take a look at https://taler.net/en/index.html
Anonymous, taxable, fast and in any currency.

>> No.7435013

Whoever's bankrolling this >>7434473 >>7434516 is wasting their money. Hit me up if you need someone to script some decent FUD that doesn't sound like it was written by a 10 year old

>> No.7435077

I got NANO but TELCOIN is going after this problem. And they are doing ti through SMS. These people sending money through phones aren't using smartphones so TELCOIN seems super promising. Still got a fat stack of XRB but they are completely different use cases.

>> No.7435268

whats the point of fast transaction, when it takes days to withdraw to fiat?

>> No.7435311
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7435311

>>7435268
Holy shit anon......

>> No.7435368

the absolute desperation in this thread.

shitcoin handed out for free and massively abused by people farming captchas, pumped like crazy like most shitcoins do, and now it's going back to its rightful value well under a dollar.

if you haven't sold yet you should get out of this "trading" business as soon as possible.

>> No.7435466

>>7433750
Damn.. Wasn't aware of this.
Just dumped 100k

>> No.7435474

>>7435311
explain me, please

>> No.7435512

>>7435077
That's true, but Telcoin isn't ready before 1-2 years at least, they've got nothing ready right now.

>> No.7435546

>>7435474
dont' talk to him, he's a bagholder

nano is shit, nobody will ever use it

>> No.7435584

>>7434516
5%

>> No.7435593

only tron fags hate nano

>> No.7435859

>>7435546
I hold a very small amount to a point where even if it hits $0 I wouldn't feel a scratch. But at this point I feel like bitgrail guy is paying people to FUD it so those people stuck on bitgrail will finally sell low.

>> No.7435893

garbage shitcoin get ready to be exit scammed niggers

>> No.7435955

of course it needs to be fast and free, thats absolutely essential. But what everyone is saying that being fast and free does not bring your shitty coin any closer to adoption because it has not been tested with a large network and years of use. Showing how fast your network is... its meaningless if nobody trusts your software

That is why, at best, it will be a slow grower, maybe a good investment in 1-2 years.

>> No.7435958

>>7434789
>>7435268
JFC, the absolute state of Nano FUD...

>> No.7435989

>>7435546
Seems like a pretty effective FUD campaign for now since new people or people who haven't done research think this coin is actually shit when the problem it faces at the moment is adoption and not the tech.

>> No.7436027

>>7435955
Bitcoin was never tested either... what a non-argument.

>> No.7436044

>>7435989
the problem it faces is shit owners who have 50% of the market and are desperate to cash any minute, almost cashed at 10 and caused a major dip

>> No.7436592

Bags getting heavy huh?

>> No.7436888

>>7435989
cant even say its adoption or the tech because its so fucking new. heres the truth if the vision succeeds it will be big "maybe" because there could other coins that might do its job along with having other favorable characteristics. you can not sit here and tell me the tech is flawless you fucking havent done one ounce of research. not to mention its so new it hasnt even had a chance to defend itself from major attacks to prove itself. right now 100% speculation that i can tell you. unlike king bitcoin whos network is secured by a significant amount of hashpower and blockchain so deep the oldest tx's are trapped so far into the web. you see bitcoin incentives but also protects people against the person who doesnt give a fuck and is out to spend resources to just fuckwith the network. we shall see how nano withstands someone/a fucking country/a powerful entity attacking it just because they fucking have unlimited resources to do so.

>> No.7436912

>>7433571
Bitgrail new bitcoin holy grail