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How I’ve found NANO while I wasn’t even interested in cryptocurrencies and my thoughts

Hello everyone! Three months ago, I wasn’t much interested in cryptocurrencies at all.

I’ve just wanted to add a crypto-payment option for an online store that I was developing thinking that it would increase the sales.

During that process, I’ve found out that fees were HUGE for many of the well-known cryptocurrencies. This whole crypto thing felt like a tulip-mania, why would a person want to use something that they would have to pay this kind of absurd transfer fees?!!

While searching for low fee crypto coins I’ve stumbled upon NANO. I was quite skeptical at first, but after some research and seeing the product at work (international instant transaction?!) and seeing how organized & devoted the community is I believed NANO had a great future ahead.

*Everything seemed perfect at first glance.*

Coming from the business side of things, there **really** is a demand for something like this. Especially in second-world countries where there is widespread access to technology & intermediates and banks are ripping people off with their fees on international transfers.

For example, we have no Paypal in my country for around 5 years as the government **banned** it as it didn’t want to host its servers in Turkey.

People literally have to pay around 20% to 35% for their freelance work as they need to use alternative methods.

As an example, my bank takes 20 dollars for every payment I get from outside the country!

For some time I was in love with NANO. But I still didn’t understand one thing, “This is amazing, why isn’t it much more popular?!”

*Then the spam attack came.*

And I understood at that moment why it wasn’t a top 10 coin.

NANO ***is not*** a finished product. Spam & ledger bloat are two real risks. Will the NANO foundation be able to solve these problems? That’s a great **risk** for an investor.

But still, I am very happy to know about NANO now.

Maybe NANO will never reach its goals and fail miserably, but what is important is that I see that chances of it succeeding it a lot higher than its failure. Why? I believe in what it tries to accomplish.

No money printing (which is essentially **stealing value** from all holders of a currency) and instant, and feeless transfer of value. I don’t believe in NANO just because it is NANO. I believe in the concept of making the money an independent entity and there wasn’t a project that had more development experience that tries to do this. (Notify me if there is one!)

*Feeless, instant, decentralized, green and inflationless store and transfer of value.*

*Sounds real nice.*

But to be real, there are great and real obstacles on the way of its success. But if these issues were fixed today NANO wouldn’t be a 5 USD coin. (And there is also a chance that they won’t ever be fixed, that’s why NANO is only 5% of my portfolio :P)

But I believe in developers’ CVs, 5 years of experience developing NANO, and their devotion to the concept.

And I believe that creating a spam-resistant feeless cryptocurrency is theoretically possible.

And also, the NANO community is ***super*** active relative to its size. They are hosting [free faucets](https://nano-faucet.org/) that you can get NANO, creating plugins for [Unity](https://github.com/wezrule/UnityNanoPlugin), [Unreal Engine](https://github.com/wezrule/UE4NanoPlugin) & [Javascript](https://github.com/numsu/nanocurrency-web-js) so that game developers can integrate Nano to their games. Creating faucet [games](https://nanoquakejs.com/) that you can earn [NANO](https://nanoroyale.com/), they are donating NANOs to people in need in Venezuela and [Nigeria](https://np.reddit.com/r/nanocurrency/comments/mikl7u/project_nanocity_has_started_lets_paint_lagos/) with a Pokemon Go-like app called WeNano.

Maybe even a bit too active as they have a cult-like status in here 😀

What do you guys think about NANO’s future? And also, thanks for reading my longish post!



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29 Comments

  1. Fellow NANO hodler here as well.

    It does have to mitigate the SPAM attacks in order to move forward. If it does with reasonable success, I think it has a decent shot at becoming a tool for instant and fee-less transactions that are OK as being public.

  2. I want nano to succeed because I want crypto as a cash replacement to succeed. I would rather something more private wins in the end like Monero but I don’t see it happening. Nano has some issues which I hope they fix. If there is a better project to be a cash replacement than nano I hope that succeeds. We need to be less tribally attached to our investments.

  3. >And I understood at that moment why it wasn’t a top 10 coin.
    >
    >NANO ***is not*** a finished product.

    So are Ethereum (Eth 2.0 is ongoing), Cardano and I don’t know enough about the other Top10. Regarding fees, BTC is also not finished. Litecoin is literally Bitcoin with another name and was basically the beta-network of Bitcoin.

    Blockchain and cryptocurrencies are really early “products” and none of them are truly finished. Most have their application and some work at the basic minimum to call it functional.

    The biggest question is: which has the best tech, that it can withstand the hate.

  4. people underestimate the Solving of a spam attack and bloating for a Feeles DAG lattice system… it’s the equivalent of Free Polio Vaccine , everything else will pale arround it on the tps niche. Maximizing profit is the Only general incentive arround the crypto and stock market so a feeles asset that runs without issues and scales up considerably compared to the best options atm (Visa caps at 1700 tps with steady flow, Nano has milions in scope per second) … Nano is a Must Watch Project … whoever’s saying nay to this is ignorant and uninformed.

  5. I wanted to share my nudes for money but then I came to know about Cryptocurrencies. I chose Nano as primary mode of payment because of its fast and feeless transfers. My timing was bad because my txns were stuck for a very long time. But the community was helpful & the project looks promising.

  6. I like NANO’s future. No smart contracts or gas fees, just money that is simple to use. It’s a shame it’s having spam problems, but I think they’ll be less of an issue in the future.

  7. I don’t know why but last few days something reminded me of Nanex. I liked that exchange so much and most importantly depositing and withdrawing Nano was free and then you trade to some other coins. Also I was mining garlic coin and was possible to trade them easily into Nano.
    I am with Nano since Raiblocks. Not a big bag holder but I like the activities I can do with Nano and Banano its pure fun.
    Nano poker, lucky Nano, Wenano etc etc.
    I just don’t want to see the price after every few minutes but involving many ways was fun 😀

  8. I think nano could have a bright future, that’s why I hold. I think the solution to the spam attacks could be simple. For example limit transactions to 1 transaction per 10 seconds. You never really need to make more transactions than that.. But i don’t know what problems the dev team is facing, maybe it’s more complex than that. I have faith anyway in nano and believe it will be top 20 at least in some time

  9. Nano has one of the biggest communities out there. Is a great coin, technically, one of the bests. The only problem they should address are spam transactions. As long as the proposed solutions are implemented, Nano will be better and stronger than ever, offering the best for p2p payments.

  10. I am also a big fan of Nano but I think you should take this sub’s opinions of it with a big grain of salt, as the hivemind (much to their cost financially) for a long time was completely addicted to the idea Nano was going to imminently moon.

    Always beware any coins this sub likes disproportionately.

  11. From my perspective there are two options when it comes to payment coins:

    a) Invest in “finished” but sub-standard projects (i.e. ones that have fees or comparably slow transaction times relative to current centralised alternatives), or

    b) Invest in working projects that need optimising but are working towards ***the*** goal of being feeless and fast.

    ​

    For option a, I really don’t see the point. Sure they’re spam-resistant as they stand, but if they’re no better than current alternatives then they don’t really have much value as a payment coin.

    For option b, it is definitely risky, but if you chose a project whose team has consistently met their goals, shown great ingenuity and skill, and are tackling the problems at hand, then you are investing in the future rather than just gambling. For me the only currency that fits in the category of option b is Nano, followed closely by IOTA should things go as planned in the near future.

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