Nano: A Sh*tcoin? Micro Value, Big Bear

Nano: A Sh*tcoin? Micro Value, Big Bear

By jedryccc | Crypto Reviews! | 23 Jun 2020


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A very short Medium article by The Test sums up Nano as

a low security sh*tcoin with constant network and security issues. Disappearing transfers, coins that never arrive at their destination, and a completely centralized network are just some of its many problems. The author clearly bought at the all time high and is doing everything he can to try and boost the price for this complete failure of a coin.

RaiBlocks: Distribute By Captcha

29836ee6436a2cd57ee10ca4f278e6cc912dc2354247c5d4dcecc8e8fea8f0c5.jpegec43af25d091909599cd9b1d7f0646edeedae894640210266906eeaae6a0eb1f.jpeg Nano, initially named RaiBlocks was distributed to people by a Captcha faucet. This would mean the only people that would actually do them would be those who had faith in the project but at the same time this would attract a few Indian Captcha shops and with the right bots you'd get a few nanos to yourself.

Has Little to Close to No Value

a94d6004f1d3ae1a922a67b269bf55851227e423ff154ec165a50dbdc2a6d1b6.jpeg As of the time of writing, a Nano is worth around a dollar. if you try to use a nano faucet you'd just get a fraction of a fraction of it. Who'd want to repeatedly claim a fraction of a penny? Nano peaked at around $35 but its value just keeps on depreciating. Would you want to hold a bearish asset? Nano's golden days have passed.

Fee-less with a cost

Nano is supposedly fee-less but this just doesn't give any people to verify transactions on its blockchain. Transfers are actually verified by the sender and reciever and there would be delegates chosen to counter-check but who would want to be a delegate when you don't get anything from it? Nano is very unsafe and you could lose your nano in the network. Nano is not secure and not like Bitcoin. 

The Holy BitGrail is Gone!

  Bitgrail.jpg In February 2018, Bitgrail, an Italian cryptocurrency exchange closed its doors suddenly barring people from more than 17 million Nano from their wallets. The good news is that the Nano Foundation filed a class-action lawsuit and the Court of Florence found Francesco Firano liable for the losses. 

The Bear Growls Against the Bull

Brown Bear

Nano's value will continue to fall in its miserable bearish nature. Do not invest in Nano unless you think it will magically rise up in value or if somehow you really think it has hope, in which case please inform me because I would be very happy to be proven wrong. Unless Nano innovates and gets out of its old-school ways, the cryptocurrency will just continue to go down in value.  Nano illustrates a pipe dream of a fee-less, eco-friendly, magical, amazing, omnipotent cryptocurrency. Still, let us hope someday the true fee-less crypto will arrive. In the meantime we have our good old Bitcoin and its altcoins to rescue us from Nano.

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jedryccc
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