CryptoCurrency

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Any opinions on NANO here? (lemmybefree.net)

submitted 6 months ago by Electricd@lemmybefree.net to c/cryptocurrency@lemmy.world

5 comments fedilink hide all child comments

cross-posted from: https://lemmybefree.net/post/1021813

Wanting to learn a bit more about it and discuss with people to know what they think about it

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[–] Electricd@lemmybefree.net 1 points 6 months ago* (last edited 6 months ago) (2 children)

I'm interested in the coin as well but don't really want to manage things around it. I just like to discuss about it, that's all

Regarding privacy: that's my biggest problem with it, but it's a nice thing we have Monero and similar

What we need is more swaps accepting NANO, and yea, more adoption, this will fix most problems

I'm not worried about node monetization. A lot of people run nodes for free, and they can accept donations if they ever want to

I'm just a bit afraid about spam. Everything with fee-less transactions will be abused, and the blockchain will increase in size by a lot

Creating a lot of wallets will also highly increase the pruned blockchain's size

I would be interested in a Nano community on the fediverse (preferably lemmy) however. The current ones are !nano@lemmy.ml (but I'm banned from lemmy.ml) and !nanocurrency@lemmit.online which just sends everything from reddit

[+] mlody@lemmy.world 2 points 6 months ago* (last edited 3 weeks ago) (1 children)

[deleted]

[–] Electricd@lemmybefree.net 1 points 6 months ago (1 children)

Is it bad that the blockchain will increase in size? What consequences do you have in mind specifically?

People will have more difficulty running nodes. Small servers use pruned nodes, but they won't help if the chains are attacked. They often run on VPS which have limited disk space.

If the blockchain(s)'s size increases too much, it won't be able to be stored on regular disks at some point, which will highly harm the performance of the chain (having to switch to HDDs) or kill nodes ran by individuals (centralization)

Do you think Nano has a chance to gain interest in the near future?

It could. It fixes most problems and critics people have about cryptocurrency, while being focused to have a real world use. The competition is harsh though, and it lacks privacy features.

I think it’s worth paying attention to Fediverse, where we can attract the attention of freedom-minded communities and open source communities. Currently, Nano only has social media accounts on commercial social media platforms, and even those accounts are not active. The only community is on Reddit, which I don’t use because I value my privacy.

I would agree, but I also believe Lemmy and the Fediverse is a bit niche, even for them. Most people will not find Nano through here.

I thought about promoting Nano myself, but I don’t know how much I can trust this technology or whether one day interest will drop to zero, and with it the entire value of the currency.

That's a sad possibility. It seems like the hype is dying, but things can change. I'll hold and use some when I can. I still prefer Monero over Nano because I prefer privacy. I would personally mention Nano if I heard cryptocurrency critics like "it kills the planet" or similar.

We can do our own community on another instance (lemmy.world for example) or we can try on communicators like Matrix, XMPP or IRC. I would like to have some NANO-focused active chat with more interesting people.

I believe Lemmy is the way right now. I don't use Matrix, XMPP or IRC. The only thing I could use somewhat frequently is SimpleX (not that surprising considering I come from the privacy community)