Warning: longread. A sort of tl;dr at the bottom.
In this post I’ll outline why I think that Nano (a cryptocurrency), rather than Bitcoin or gold, might be the “final” store of value, because it approaches the theoretical limit of perfect store of value/reserve currency characteristics. Much of this is based on Ray Dalio’s “The Changing World Order” which is a very long read but is recommended reading for anyone interested in the future of fiat money, reserve currencies and stores of value. …
As most are well aware by now, Bitcoin is killing the planet. Tesla is widely derided for their Bitcoin purchase, while whataboutisms from Bitcoin holders are repeatedly shared on Twitter. Despite the whataboutisms claiming Bitcoin incentivises green energy, multiple coal plants reopening for Bitcoin mining (1)(2) seem to disagree with this statement. Bitcoin mining is helping slow down the transition to green alternatives by increasing revenue on gas mining (3)(4). In other countries, miners are getting access to cheap, clean energy, funded by the EU. Great news for the miners, bad news for the locals, the plant was supposed to…
In this article I describe Nano’s latest innovation — a prioritization method which leads to a feeless, yet spam-resistant network. If you’d like the full background, I highly recommend the original proposal: Rob’s (Reddit user u/ — orb) brilliant Time-as-a-Currency & PoS4QoS — PoS-based Anti-spam via Timestamping and Nano’s practical implementation of this through the Election Scheduler and Prioritization Revamp.
Spam (or DoS — Denial of Service) attacks have been a part of the crypto world since the beginning. Bitcoin was spam attacked, repeatedly, Ethereum was attacked, and more recently Nano was attacked. An uncensored system that is open, accessible…
Nano enthusiasts will often tell you to take your Nano off of exchanges, and into your own wallet. This article aims to explain why you should do so. Not because you’re altruistically trying to help the network, but for your own security, to improve the decentralisation of the network, and to increase the value of your Nano.
When you buy Nano on an exchange such as Binance, Kraken or Bitvavo, the exchange shuffles around some numbers in their internal ledger. Person A had 1000 Nano and $0, while you had 0 Nano and $5000. …
In earlier articles, I’ve talked about how Nano is the future of money, amongst other reasons because it is instant, has zero fees and has no inflation. After this article was published, I got some questions about how Nano can have no fees and yet still incentivize people or businesses to run nodes (representatives, those that confirm transactions). In this article, I’ll explain how Nano’s zero-fee proposition provides plenty of incentives in theory and practice, and why having zero fees makes Nano more secure than other cryptocurrencies.
With the recent increase in fees for both Bitcoin and Ethereum, this is a question coming by more recently. So let’s dive right in.
To first cross off the top cryptocurrencies — Bitcoin’s average transaction fee is $25.47 as of writing, with a “near finality time” of 58 minutes before your transaction is considered fully confirmed. Ethereum fares slightly better with a $24.48 average transaction fee, and a 6 minute near finality time.
So with these two out of the running, let’s look at what the actual lowest fee cryptocurrencies are.
My aim in writing this article is to convince you that even if you do not care about cryptocurrency, you should care about Nano. Because while you might not be part of the crypto world, crypto is part of our collective world, and the environmental impact Bitcoin has is not something to be ignored. In fact, Bitcoin’s emissions alone might push #GlobalWarming above 2°C, without you ever getting interested in it.
Let me start off by saying that I understand that I am making a bold claim. Bitcoin was the first cryptocurrency, has a $700 billion market cap, and has its own personal chadlike cheerleader.
Extraordinary claims require extraordinary evidence. So let me lay out my thesis.
I believe scarcity, decentralisation, immutability, security and predictability over time to be the primary determinants in what makes #Bitcoin a store of value that can justifiably compete with gold. Aside from scarcity, all these factors ultimately boil down to the primary innovation in Bitcoin — the PoW consensus method.
Competition for rewards in mining…
Using Nano (a cryptocurrency) it’s possible to instantly, feelessly send from any country in the world to any other country in the world, using a decentralised network, and have the transaction confirmed in the other person’s wallet before your text about it will arrive. Using Nano is the way money is used in science fiction movies — effortless, instant and feeless. Hard to believe, even after watching the video?
You can try it for free, within 2 minutes.