How I’ve found NANO while I wasn’t even interested in cryptocurrencies and my thoughts
Hello everyone! Three months ago, I wasn't much interested in cryptocurrencies at all.
I've just wanted to add a crypto-payment option for an online store that I was developing thinking that it would increase the sales.
During that process, I've found out that fees were HUGE for many of the well-known cryptocurrencies. This whole crypto thing felt like a tulip-mania, why would a person want to use something that they would have to pay this kind of absurd transfer fees?!!
While searching for low fee crypto coins I've stumbled upon NANO. I was quite skeptical at first, but after some research and seeing the product at work (international instant transaction?!) and seeing how organized & devoted the community is I believed NANO had a great future ahead.
Everything seemed perfect at first glance.
Coming from the business side of things, there really is a demand for something like this. Especially in second-world countries where there is widespread access to technology & intermediates and banks are ripping people off with their fees on international transfers.
For example, we have no Paypal in my country for around 5 years as the government banned it as it didn't want to host its servers in Turkey.
People literally have to pay around 20% to 35% for their freelance work as they need to use alternative methods.
As an example, my bank takes 20 dollars for every payment I get from outside the country!
For some time I was in love with NANO. But I still didn't understand one thing, "This is amazing, why isn't it much more popular?!"
Then the spam attack came.
And I understood at that moment why it wasn't a top 10 coin.
NANO is not a finished product. Spam & ledger bloat are two real risks. Will the NANO foundation be able to solve these problems? That's a great risk for an investor.
But still, I am very happy to know about NANO now.
Maybe NANO will never reach its goals and fail miserably, but what is important is that I see that chances of it succeeding it a lot higher than its failure. Why? I believe in what it tries to accomplish.
No money printing (which is essentially stealing value from all holders of a currency) and instant, and feeless transfer of value. I don't believe in NANO just because it is NANO. I believe in the concept of making the money an independent entity and there wasn't a project that had more development experience that tries to do this. (Notify me if there is one!)
Feeless, instant, decentralized, green and inflationless store and transfer of value.
Sounds real nice.
But to be real, there are great and real obstacles on the way of its success. But if these issues were fixed today NANO wouldn't be a 5 USD coin. (And there is also a chance that they won't ever be fixed, that's why NANO is only 5% of my portfolio :P)
But I believe in developers' CVs, 5 years of experience developing NANO, and their devotion to the concept.
And I believe that creating a spam-resistant feeless cryptocurrency is theoretically possible.
Maybe even a bit too active as they have a cult-like status in here 😀
What do you guys think about NANO's future? And also, thanks for reading my longish post!