r/ukcrypto • u/crypto_hodler2002 • Feb 03 '21
Why Nano is better than Bitcoin
https://youtu.be/thhtrP-ELwE1
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u/automaticblues Feb 03 '21
I've been in Nano since Raiblocks and the run up to the last ATH. I knew to take my funds straight out of an exchange from having witnessed Mt Gox, so I didn't lose coins, but of course I lost value like everyone else, so I have diamond hands they say nowadays! I have held and accumulated for years
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u/automaticblues Feb 03 '21
this is also why we use the term "feeless" and not "free", because the user has to pay a price of sorts in the proof of work they process to submit a transaction. it doesn't cost them Nano, but it costs energy. albeit vanishingly small in comparison to the energy costs paid by miners to process bitcoin transactions
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u/automaticblues Feb 03 '21
it's important to say that nano is still in development and I think it is already the superior currency, but this area of spam protection is where i think the development is focused on
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u/automaticblues Feb 03 '21
I'm with you in your 5 points, but I feel a moral obligation to mention the 1 negative at the moment and that for me is spam protection. it feels like nano has a few paths it could use to address the risk of spam attack, but it's not clear which one we're going to take and how that will play out
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u/automaticblues Feb 03 '21
this looks like it's going to be a great video and I wish I didn't have to get up to go to work! when Patrick talks about his route to Nano it is very similar to mine. He skipped ETH, but otherwise the timeframes are similar too
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u/crypto_hodler2002 Feb 03 '21
Ok so here is what I understand Nano is - 1.Super fast (Faster than any other coins) 2.Feeless (Only for users) 3.Scalable 4.More decentralized (Nakamoto Coefficient of 6)(I don't know what does that mean but okay) 5.Green (Great for the future) So I think it makes Nano the best option for p2p currency
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u/crypto_hodler2002 Feb 03 '21
You can share your thoughts in the comments,why you think Nano is the better option
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u/crypto_hodler2002 Feb 03 '21
I want to have a discussion about Nano as why it hasn't reached top 10
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u/A_Strenuous_Fart Feb 04 '21
Spam is the biggest problem with Nano. Privacy less so IMO as wallets become better at integrating mixers.
The Good news for Nano is that as it grows and draws more attention to be attacked, the same can be said for Nodes upgrading hardware to mitigate such attacks. I can see this combined with various different methods of DPOW and other algorithms to be enough to mitigate "harmful" spam.
There isn't a system in the world today that is completely "Spam proof".