Turns out nobody is actually interested in transacting with crypto otherwise Nano would have been a winner. I also love Banano, a Nano fork where you mine by folding proteins. Work that has actual value.
Because in practice services like TransferWise solved this problem using fiat currencies with fees low enough not to make it worth bothering with crypto.
I duno, I still can't make a payment on the net without Visa or Mastercard, still a problem to be solved to me
Looks like other people still trying to solve as well:
> Earlier this year, Coinbase changed online payments forever with a new protocol called x402. But could this technology really usher in a new age of 'machine to machine' payments? Let's run it...
For larger amounts it makes sense to use the bitcoin rails for international transfers. I'm doing bank to bank international transfers and using bitcoin saves around 3% compared to Wise and you get the money immediately (or within 1hr, depending on what you use).
Few years ago I needed to transfer a big sum from a Scandinavian country into Euro. The official bank exchange rate plus fees was worse than Wise’s. But I asked the bank and the bank gave me an exchange rate that was like 0.1% better than one from wise.
Depending on the direction, but there are ways to actually make a little extra on top of the middle exchange rate (e.g. on the USD to EUR path), since there are many people that want to buy no-KYC bitcoin in Europe and they are willing to pay a couple % extra.
Man they don't solve it for me. They charge much more for using a credit card vs a checking account, especially when going across currencies, and I consider it pretty dumb to share my checking account information around when I can control things much more easily with a credit card. And literally any fee they charge is more than what nano charges. It's just that nobody takes nano :(
Okay full disclosure, I believe in stablecoins only but what are your thoughts on nano. It has zero fees and I worked using its zero fees to store data/timestamps in it by nanotimestamps
Once again, I have no skin in the game at all and I do not own any nano.
Nano uses proof of work to counter scam from both sending and receiving side and it uses open representative voting.
Basically nano works from my understanding as like hey, we will host the servers for nano since its kinda cheap to do so but also that we can promote our services via the voting model, mostly done by exchanges like binance,kraken for free.
The model of nano lacks the idea of payment in the first place, its whole model is built around send/recieve proof of works and representative voting
I created a tool which did literally 10s of transactions on nano tokens I got from a faucet and they had 0 fees so I stored data like "hello world" lets say on the chains without losing a single coin (I had like 0.000001) or something
They still are sustainable and without spam by that much partially because of their proof of works and from what I know, it can get really hard to spam if one tries to do so.
Personally there is nanusd but its highly unregulated, just created by one guy, I wish if something like nano can be created at a stablecoin level but yea.
What are your thoughts now, I wish to not sell on nano (the coin) but ORV (the technology), I find it more interested than blockchain essentially, there are some minor differences like nano uses lattice structure etc.
Also please dont buy nano reading this, I find the coin still speculative and I wish if someone can create a more regulated version of a stablecoin combined with running basically a nano node internally, its all open source I guess.
I meant gas payments sorry, not payments itself...
Mistakes happen and I am human so sorry about the misclarifications I suppose.
But basically the coin's structure/data structure doesn't have a gas fees data in it and its always 0, the network might take some work function which can take some time to process and there have been some attempts at spamming it but the recent network from what I have heard is spam resistant and it can happen to any such coin but honestly I do like 0.0000001 faucet transactions and they happen for free and instantly the last time I tried it.
I am still not shilling nano coin, I think the technology is cool and something similar but with more stablecoin-esque asthetic could be built and I am kinda interested in building something like it just out of curiosity ngl and I am worried what can be the idea or is it even worth it but yea...
When throughput I create 9999999999 accounts each sending 99999999 transactions per second, something is going to prioritize which transactions to include in the chain. If you don't choose intentionally, you will choose unintentionally.
See personally I hate crypto, I am not even touching / do not even want to stablecoins too much now(I made a comment about it somewhere here) but basically I am getting rid of that too so yeah
I am saying that yes they choose intentionally by having buckets of higher value transactions earlier than later but the transactions happens instantly even lower amounts
That being said, there have been points in past where I have seen in its history where it got spammed and yea it can have an impact but even that, they say that they have mitigated it now
But even then, the premise is in all honesty you were mentioning how every crypto has fees but even if it may have spam which might delay an transaction from its default literally 1 second to lets say something like a minute...
Even then it will take 0 gas fees. So I think I still gave an solution to you no?
That being said, I think its tech is cool but the way its implemented in stablecoins whatever could've been nice but its all just regulatory gimmick. Personally I am not that interested in any of these things but still I feel like it was worth mentioning.
I think nano has more potential whatever that means than bitcoin but I am not gonna be foolish and invest in nano because I dont think its something like investing, it would still be speculation and the traders and everyone is irrational because its sort of gambling and I think that what nano can be good for is, instead is people working on it to create their own stablecoins or tokenomics but as I have said, I personally think most if not everything in crypto is kinda about regulations so I have mixed opinions honestly about crypto in general but the technology behind nano was cool tho which is what I wanted to share (still please do not invest in nano, I think its highly speculative and irrational market and tech literally doesnt matter and if you like the tech, build something similar but with which can have more financial sense I suppose and usecases etc. too I suppose)
https://nano.org/en
instant, fee's a fraction of a cent, I thought this was it, international payments that don't rely on visa/mastercard!
and then it just went no where :\