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Power of Blockchains! $50K transferred in less than a second, zero fees, no middlemen.

Power of Blockchains! $50K transferred in less than a second, zero fees, no middlemen.




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  1. Id love to see a version, split screen, of say sending money from NZ to the UK. I know it would be effectively as fast but the impact would be easy to comprehend at a human level

    Or Africa to Asia.

  2. Some key aspects that make a successful store of wealth demonstrated here: (1) permissionless transfers p2p, uncensorable and non-custodial per original bitcoin vision. (2) no fee drag removing wealth from the system. 1 nano = 1 nano = 1 nano forever. 3) instant settlement to avoid sweating bullets for an hour wondering whether the transaction went through aka lowest latency / least error per Elon tweets. (4) not shown here but fully issued and no inflation makes v hard money.

  3. Nano is one of the most impressive cryptocurrencies out there, but still remains extremely undervalued. I can’t say I’m complaining, though. More opportunities for me to buy before it explodes.

  4. I don’t own any NANO myself. Sold out a while ago, but would still be really cool to use this stuff in the future. I wish we adopted cryptocurrencies faster. Seems like most people need a lot of time before a big change like this can happen.

  5. Excellent demonstration of the original bitcoin whitepaper with this video.

    https://bitcoin.org/bitcoin.pdf

    My thoughts on the war for global store of value:

    Bull case for bitcoin: first mover advantage and global name recognition, along with deep liquidity, derivatives, first wave of institutional and large corporate treasury buyers that focus mostly on bitcoin for now as an inflation hedge mean at the very least a great deal of momentum, and at best a replacement for gold and other major asset classes as a store of value that would send it 10x at least from here. Total value stored and transacted daily on the network eclipses other cryptos. The liquidity and infrastructure is hard or impossible to replicate so no other challenger will be able to unseat it. Lightning network implementations like Strike eliminate pain points associated with high fees and long transaction times, leading to hyperbitcoinization and tendies. If you believe that others believe btc will win, then you should invest accordingly because that’s where the crowd will be.

    Bear case for bitcoin: bitcoin is riding momentum but has deeply flawed fundamentals and significant geopolitical and environmental risk, it will get beat by a better protocol that solves the same problem with an order of magnitude better fundamentals and UX (see Ray Dalio’s recent article on bitcoin for more on that). Read the white paper and see that bitcoin has deviated so far from its original purpose as to become unrecognizable.

    What was supposed to be a peer to peer electronic cash system allowing you to become your own bank without needing central intermediaries and custodial control has morphed into a high fee, low speed network that is potentially a better store of value than gold but none of those other things for all except the very wealthy. With high fees, people will likely leave their coins on exchanges or custodial solutions.

    Price drag from upside damping is real, because bitcoin has forced sellers (because miners have opex/capex to pay in dollars or RMB). The daily inflows required to sustain a given price also increase with price (ie the further we push the rock up the hill the bigger it gets) and there are secure alternatives that have no inflation / fully issued supply that eliminate this dynamic.

    Lightning network (including Strike) is meant to solve this but is custodial, censorable, and insecure, or expensive to open your own channels on. So what was meant to protect you from governments printing money is highly vulnerable to seizure or forfeiture.

    Geopolitical risk is high because ASIC manufacturing is concentrated in China, as are the largest mining pools securing the network, which you would be foolish to think Xi doesn’t wield power over. This creates a massive centralization risk that maxis will paper over, in the hands of a party that has the objective of (1) destroying USD as global reserve currency and (2) replacing with RMB. Hard to imagine a better strategy than how this is currently playing out. Sure you want to trust the Chinese networks to store your personal and institutional wealth?

    Bitcoin is also unnecessarily an energy hog that while better than gold mining still consumes more electricity than New Zealand this year and will grow rapidly with price (direct correlation between price and energy consumption via mining difficulty), and what matters isn’t whether btc is mined by renewable resources but the fact that fossil fuel companies now have buyers of last resort (bitcoiners via mining) for dirty fuels they may have otherwise stopped burning. CO2 remissions matter, and greener solutions with better security already exist. Even Hal Finney tweeted about his concern for the climate impact of bitcoin but didn’t solve it and sadly passed away.

    The battle is waged 24/7. Btc bulls are up big this year. Who will win? Who knows? I have my opinion, but am trying to lay out both side of the argument fairly here. Let’s help each other get to the right answer so we can protect ourselves, our families, and each other from the central bankers.

    P.S. start working on a good explanation of the value you’re getting out of all the hours you spend on Twitter and Reddit for your spouse.

  6. One friend of mine asked me once what are other cryptocurrencys that he/she can use to transfer fast and anonymously cash from some shaddy business… like when you do with paper fiat when, for example, trading cocaine and others… nano seems a good option but doesn’t known if it is anonymous or if it uses one of those annoying kyc exchanges…

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