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