02-10-2021, 03:27 AM
Why you should pay more attention to NANO
<!-- SC_OFF --><div class="md"><p>Full disclosure: I own Nano. Have been in it since 2017.</p> <p>While Bitcoin, Dogecoin and ETH are getting all the hype right now, it is important to learn about other players in the market with potentially better tech.</p> <p>NANO is a direct competitor to LTC and Bitcoin. Nano was created in order to be used in transactions and make them free and instantaneous.</p> <p>There are multiple advantages to NANO when compared to other competitors:</p> <ol> <li>Fee-less</li> </ol> <p>Unlike many other cryptos, nano is fee-less. This is a major advantage to other crypto’s, especially since Bitcoin can get really expensive really fast. In 2017, a Bitcoin transaction could cost over $40 and take 2 hours to complete. This is a major drawback for small everyday transactions. It could be argued that Bitcoin is a store of value, and should not be used for small transactions but it does go against the original thesis of Satoshi.</p> <ol> <li>Instant</li> </ol> <p>Nano is essentially instantaneous and that is extremely important for small every day transactions. I recommend opening two nano wallets and sending money back and worth to truly appreciate the speed of the network. </p> <ol> <li>Eco-friendly</li> </ol> <p>I think this is a huge point that many people overlook. With the rise of Bitcoin, more and more power is dedicated to mining/processing transactions, and at a certain point the cost of doing so will be insane. With Nano, thousands of transactions can happen at the same time without the insane energy consumption that we are all used to seeing. </p> <p>Conclusion:</p> <p>These are just a few advantages that new people should know about NANO. If the goal is to truly make a convenient crypto that lets people to freely transact, there is a strong argument for Nano technology. Additionally, the team is fairly experienced and has been around for over 4 years now. Good luck, and happy investing.</p> <p>EDIT: A few people asked, but NANO is a fully built out network. It has been available for use since 2015 (called raiblocks), and has gone through multiple stress tests.</p> <p>EDIT 2: There is a lot of healthy discussion going on, but also a few people think I am shilling for the coin. To be honest, I will be holding this crypto for a long time. I did not expect this post to take off, if I did, I would make it more detailed. Anyway, this is obviously just an opinion, and there can be disagreements on whether the technology makes sense or not.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/MichKOG"> /u/MichKOG </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lg8uom/why_you_should_pay_more_attention_to_nano/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lg8uom/why_you_should_pay_more_attention_to_nano/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>Full disclosure: I own Nano. Have been in it since 2017.</p> <p>While Bitcoin, Dogecoin and ETH are getting all the hype right now, it is important to learn about other players in the market with potentially better tech.</p> <p>NANO is a direct competitor to LTC and Bitcoin. Nano was created in order to be used in transactions and make them free and instantaneous.</p> <p>There are multiple advantages to NANO when compared to other competitors:</p> <ol> <li>Fee-less</li> </ol> <p>Unlike many other cryptos, nano is fee-less. This is a major advantage to other crypto’s, especially since Bitcoin can get really expensive really fast. In 2017, a Bitcoin transaction could cost over $40 and take 2 hours to complete. This is a major drawback for small everyday transactions. It could be argued that Bitcoin is a store of value, and should not be used for small transactions but it does go against the original thesis of Satoshi.</p> <ol> <li>Instant</li> </ol> <p>Nano is essentially instantaneous and that is extremely important for small every day transactions. I recommend opening two nano wallets and sending money back and worth to truly appreciate the speed of the network. </p> <ol> <li>Eco-friendly</li> </ol> <p>I think this is a huge point that many people overlook. With the rise of Bitcoin, more and more power is dedicated to mining/processing transactions, and at a certain point the cost of doing so will be insane. With Nano, thousands of transactions can happen at the same time without the insane energy consumption that we are all used to seeing. </p> <p>Conclusion:</p> <p>These are just a few advantages that new people should know about NANO. If the goal is to truly make a convenient crypto that lets people to freely transact, there is a strong argument for Nano technology. Additionally, the team is fairly experienced and has been around for over 4 years now. Good luck, and happy investing.</p> <p>EDIT: A few people asked, but NANO is a fully built out network. It has been available for use since 2015 (called raiblocks), and has gone through multiple stress tests.</p> <p>EDIT 2: There is a lot of healthy discussion going on, but also a few people think I am shilling for the coin. To be honest, I will be holding this crypto for a long time. I did not expect this post to take off, if I did, I would make it more detailed. Anyway, this is obviously just an opinion, and there can be disagreements on whether the technology makes sense or not.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/MichKOG"> /u/MichKOG </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lg8uom/why_you_should_pay_more_attention_to_nano/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/lg8uom/why_you_should_pay_more_attention_to_nano/">[comments]</a></span>Kind Regards R