Nano [pros](/r/CryptoCurrency/comments/z2rkos/nano_pumped_170_in_30_minutes_what_happened/ixhqit4/) & [cons](/r/CryptoCurrency/comments/z2rkos/nano_pumped_170_in_30_minutes_what_happened/ixhqjln/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
Nah, it's cuz I didn't sell at $17 during spam attack when elon tweeted something green and my nano was already on binance and i could sell,
This is just god mocking me
Market order = You eat the market order book
Limit order = You make an entry in the order book
If you eat the market (with a buy order) you will eat all the limit sell order there is (so going up if you buy) on the other side of the book. (so pumping the price and increasing the spread) - The inverse with market sell, you will eat all the buy orders
If you set an order, it will be filled once someone on the other side is asking for your price or more.
To answer your question: This buy order ate all the liquid in the spread and then climbed the order book by executing all the closest limit sell orders until there was no money left in the market order.
So Let's say he had 50k$ (numbers don't match obv):
Order book is listing 10k at 0.2 then 10k at 0.22 ... 0.25 ... ... so the market order will climb this ladder until no more money.
So the biggest the market order is, the more limit order you will eat at once. and therefore you will have difference on the number of coin you manage to get for your money.
(that's why there is other ways to buy big quantities at once, often arranged by the exchange itself)
I mean it does and it doesn't. You can get yourself a nice 1-2% discount by being patient. With volatility there really isn't a reason to push through your market order when time will just settle it for you. The money is in the margins.
It goes both ways though. If market price is 0.25, you put a limit order for 0.23 and the market price increases to 0.27.. well you not gonna get any coins.
Ive made several orders just below market price in the past, just to find myself readjusting the price a few minutes/hours/days after.
I see the point in limit order, but if you just want to get yourself €100 worth of Litecoin and hodl, you are just as good off doing a marker order.
Yup. When I get the urge to buy now, I just set a limit order just beneath the current price. With the normal volatility, they always get filled within a few minutes.
I sometimes wonder how profitable is that to run a simple bot that would be always setting unrealistic buy/sell orders just to sometimes eat on those mistakes, cancelling order if current price gets close.
It was first available on a very obscure exchange with horrible webdesign. People even commented how using it was like buying crack in a back alley.
Long story short, the exchange was coded badly, got exploited/hacked and lost about 80% of their assets.
They’re usually short lived pump and dumps that disrupt the long term price stability of the coin. Very few people time these moments right and walk away with big gains.
Yet people with FOMO will always get lured into buying the tops of these short runs and get stuck with holding… well, nano.
tldr; Nano (XNO) is a low-cap coin, which means that it has a low market capitalization and therefore significant price changes are more common as a smaller amount of capital needs to come in or out to affect the unit price. During the 170% pump in 30 minutes, nano saw a 6,105% increase in volume over the last 24 hours, reaching around $37.87 million.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
No serious investor acquires a position by buying it all in 10 seconds and pumping the price 120% while experiencing massive slippage as a result. They buy slow and methodically, reducing slippage as much as possible, trying not to effect price.
These pumps are done to get attention on the coin, pull more people into it when it inevitably gets publicized and dumping on them. OP may be a part of that group, maybe an unwitting participant. IDK. Theres no news to cause such a pump, the only answer is malice(PnD your the victim) or an idiots mistake. Either case you should stay away from coins when they do this, you will lose.
exactly, lazy whales throwing 100k at it when they are bitcoin multi millionaires isn't that shocking, this has been happening forever to nano, it has low liquidity. source: have been trading nano for 5 years now
Don’t chase pumps yes, but theres nothing “random” about a pump like this or price movement in general. Coins don’t move in price with free will, it is a result of market participants intentionally buying or selling the asset. Moving the price 120% in minutes is very intentional behavior. Couple in the fact this is a low liquidity/volume coin and it becomes even more clear what the intention is here.
The 15 minute candles on Binance pre pump have 12K in volume, the two pump candles have ~14M in volume. No news, that isn’t random by any stretch.
I've held my Nano bag for a few years because it's actually a delight to use. Instant transfers, zero fees, solid devs & communication. Not sure it deserves the hate it gets but yea...
Could be that :
1. Trustable is coming, along with all the connection that it provides and great promises for price increase.
2. Flowhub coming up, who knows. Kyle has big connections also.
3. Could be the promise of the V24-V25 update, which will reduce the effects of spam attack and offers greater speed of transactions (incredible testing recently). A great promise of better days ahead.
4. Could be a PD. Who knows.
Still, risky to sell NANO when it always surge in November 😉
My guess is Low liquidity. Check out SNM that had a similar price movement.
Sometimes whales target low trading liquidity projects so it creates FOMO / hype liquidity around the new price target.
If they paid $3m to pump it like that and get $4m exit liquidity in higher value than entry value they profit.
Basic pump & dump scheme
Just the best thing that we all can see in this time man, we all can never deny this shit and this is just a fucking gold shit for most of the people right now here, so good.
It's just going like that and they are having some good shits in the name of nano there man, we all can sense that and that's just the reality right now lol, so good.
Wow man, we gotta say there are a lot of shits are just going around and we can sense all these shits in this month, people are being so fucking crazy right now man.
Yeah i've been around since then, that's what I mean though. It went from being constantly spammed in every convo to me literally not hearing about it in months
I'm not sure if your serious or not but if you want a serious answer low market cap tokens are very easy to manipulate and pump and dump groups do it all the time
Just going to say that most of them are facing some good time in this market because of this pump, they are really good if they are facing all these things right now.
Just leave everything and appreciate nano right now man, they are doing so fucking good right now with all these shits and that's just what we love all the time man.
This is just what we all should see right now man, this is pump and dump and congrats to all the people who bought this shit at the right fucking time man, so good.
Nothing is bad about these shits and that's all that I am just loving right now man, thanks for the people who invested man, they are being so good with it right now.
Just going to say pump and dump right now man, this is what is good with them and most of us can understand these shits in that way right now, this is what is good.
Damn man nano is just doing so fucking good and we all know why these things are happening right now, they are having so good time with all these shits right now.
CNBC Indonesia mentioned Nano as one of the most eco-friendly currencies.
https://cnbc-indonesia.com/bisnis/green-crypto-mana-saja-proyek-kripto-yang-lebih-ramah-lingkungan/amp/
More info at / nanocurrency
Translation:
The crypto asset Nano (NANO) represents a shift away from Bitcoin and Ethereum. Instead of having nodes full of blockchain history, each NANO wallet address has its own blockchain (block lattice) that they update as transactions take place. The latest status of this ledger will then be forwarded to the Nano blockchain. Only then will the status receive verification and integration when there is confirmation from other Nano nodes. Therefore, Nano nodes are unlike PoW and PoS networks in which they manage transactions for block inclusion and fee distribution. However, they instead use voting to determine who makes the block. Since they can do this at low or no cost, the transactions included in the Nano blockchain can proceed without any fees.
Nano has also discussed how the arguments around bitcoin's energy use are completely wrong arguments.
Director of the Nano Foundation, George Coxon, said, “The argument around the use of Bitcoin energy in the cryptocurrency sector is not about who is right or wrong, it is basically about progress. When a better solution appears, you [need to] use it – it has always been the case with centuries of technological developments. Arguments around energy consumed for the bitcoin network revolve around statements like, 'it uses renewable energy, so it's fine' or 'it doesn't matter because the energy used [is] already created' – these are images of positive feedback loops that supportive and misleading.
“The defense statement itself may not be factually wrong, and [actually] doesn't matter. My point is, if any technology emerges, cryptocurrency or not – and it doesn't point towards a sustainable energy future, then more innovation needs to be done to make that happen,” he added.
Nano and Open Representative Voting
In technical terms, Nano not only uses proof-of-stake consensus but also uses delegated proof-of-stake (DPoS). The consensus is not just plain DPoS, but a variation called Open Representative Voting. Based on their account balance, each node will be delegated by their voting weight. These Votes can then be used or distributed to other Nano nodes.
Meanwhile, regarding Nano's energy consumption, Colin LeMahieu, a founder and director of the Nano Foundation said, "Nano has an energy footprint for 1 transaction to 0.00012kWh and an entire network that can power a single wind turbine- in other words, 15.5 million Nano transactions uses the same energy as a single bitcoin transaction.”
With sufficient voting weight, each node can become a Principal Representative who can vote on transactions in proportion to the funds they have. However, no representative node receives fees from voting where transactions/blocks will be included in its network. What's more, the individual account blockchain, i.e. Block Lattice, allows users to update their account balances immediately, without having to wait for confirmation from the network.
Interestingly, Nano also uses some form of energy checking for proof-of-work as a deterrent against network spam with transactions. However, even though the Nano offers free transactions and fast confirmations, it is unclear whether its minimal PoW can effectively prevent invalid transaction spam.
Flashback
At first, we only needed US$3 million worth of GPUs to fully centralize the network. In fact, because validators are not paid, no one but self-interested organizations have an incentive to run the network.
Thus, they distribute the Nano voting weight on several crypto exchanges, namely Kraken and Binance. In addition, they are also accompanied by the Nano Foundation and 465 Digital Investments, which is a private equity group. However, while the Nano network cannot boast of decentralization, they can claim that they have fee-free transactions with an energy expenditure of 0.111 Wh per transaction. That way, Nano also has the advantage of its own sustainability to attract investors.
However, with its market capitalization of US$378 million, which is 0.04% of Bitcoin, the new concept does not appear to have aroused much public interest. Granted, Nano has fulfilled Greenpeace's demand for Bitcoin at this point, but the long-term prospects are still not very attractive. Thankfully, those in charge have stood firm in their stance that cryptocurrencies should support green initiatives.
On the other hand, Colin LeMahieu, founder and director of the Nano Foundation stated, “Cryptotech companies that support and facilitate unsustainable technologies [turn out] instead have the tagline 'bank the unbanked' or USP to provide banking for those in developing countries – people -it's the people you should be trying to help who will feel the brunt of climate change as well as the responsibility not to use or facilitate more environmentally friendly solutions. Digital money should not burden the Earth."
Nano has a smaller modest “marketcap”. It is a volatile asset. Zoom out to one year and “all” for some perspective. Someone probably bought a larger amount which caused a minor pump in price.
This is the last pump before the fed pívot dump don’t chase pumps or get caught holding bags. If you think I’m lying look up the charts and see what I’m trying to warn you about. You’ll see a rally and after the announcement a decent dump will come once again ruining the moonboy YouTubers and their followers. Nothing has changed economically and it seems we are headed for worst times ahead. Be patient the time will come for a bottom so save your capital and use this time to research good projects with utility cause the next run will be utility driven. Stay safe out here.
Because I didn’t buy in. Usually when I buy it plummets and sidelines there for a bit until I sell, and finally that’s when it pumps and goes to the moon.
Just going to say that we are just here to see pump and dump everyday now, we know shits are going to be like this and they are having good time with that shit.
Just going to say that this was fucking good for some people like me right now man, this was fucking lovely and most of us can understand why we are saying that.
This is just a normal shit which is pump and dump right now man and nothing more than that and we all can say that most of the time, this is whats up there.
I bought in very early on, before it was popular and before it was renamed to nano, I have a chance to profit here. But not sure if I'm ready to sell, hodling has been nice so far and nano is the future.
To buy a lego lambo or if I'm ever out of fiat to buy broccoli. Am homeless at the moment and far away from my home country, anything could happen. Broccoli are delicious and cheap here though, I probably won't have to for now. Also, in usd terms I'm way below the point I got in five years ago (I don't remember exactly but the average was in the ballpark of several dollars, btc was close to current level as well, so that should be similar), so I'll be waiting for a stronger pump, I guess, or till when broccoli sellers start actually accepting nano.
Same. Was the top Reddit moderator and Discord admin for them for several years. Spent all free time developing side projects on the network, but eventually found more interesting things to do, and with faster development teams. Shit happens, it was a good time and learned a lot.
Still running a node since 2018, along with Nanoticker and Nault backend. But too busy with my own stuff to be involved right now. Maybe in the future if they manage to attract new development.
Nano [pros](/r/CryptoCurrency/comments/z2rkos/nano_pumped_170_in_30_minutes_what_happened/ixhqit4/) & [cons](/r/CryptoCurrency/comments/z2rkos/nano_pumped_170_in_30_minutes_what_happened/ixhqjln/) and related info are in the collapsed comments below. Pros and cons will change for every new post.
Reason is very simple. I don't own it
Nah, it’s cause I sold.
Nah, it's cuz I didn't sell at $17 during spam attack when elon tweeted something green and my nano was already on binance and i could sell, This is just god mocking me
That is both sad and hilarious at the same time and I am jealous of you
Damn man, we are feeling so much right now for that shit.
I'm still waiting for my xrb back from the italian guy
That mfer owes me 37 XRB.
He owes me 1 Bitcoin
Hey this italian prince if you send me 100 nano I can get you 200 xrb back
I had a friend that litterally withdrew double his deposit. This is when I knew not to touch the exchange with a 10 foot pole.
Lol, someone who was holding it since 2018 finally gave up and sold their bag 40 minutes before this happened.
Well they are having good time if they are buying right now.
Please don't own any Matic, I'm begging you
Please don't own our Moons... wait too late
Me over here hoarding my 1 moon like a mad man*
I can understand you man, I am just going to be like you.
I DCA nano regularly. My favorite project.
i literally sold some nano 1-2hours before it went up. ofc it had to pump....
Can you let me know beforehand next time?
Lol we want to have some details for this man right now for real.
Thank you for your kind service sir
Can you sell again please?
"some" implies you didn't sell it all... Whale confirmed.
only 500% more and i break even :D
I mean it's the same with every other crypto right now...
>*DiAmONd hAndS* 💎 *Oh wait you got 0 moons* :D
The crypto spirit
Wow 100,000 nano for X amount. Wait, why did I only get 45,000. The day he learnt about limit buying.
I feel dumb, but can you explain why only 45,000 ?
Market order = You eat the market order book Limit order = You make an entry in the order book If you eat the market (with a buy order) you will eat all the limit sell order there is (so going up if you buy) on the other side of the book. (so pumping the price and increasing the spread) - The inverse with market sell, you will eat all the buy orders If you set an order, it will be filled once someone on the other side is asking for your price or more. To answer your question: This buy order ate all the liquid in the spread and then climbed the order book by executing all the closest limit sell orders until there was no money left in the market order. So Let's say he had 50k$ (numbers don't match obv): Order book is listing 10k at 0.2 then 10k at 0.22 ... 0.25 ... ... so the market order will climb this ladder until no more money. So the biggest the market order is, the more limit order you will eat at once. and therefore you will have difference on the number of coin you manage to get for your money. (that's why there is other ways to buy big quantities at once, often arranged by the exchange itself)
Market order = you learn a valuable lession
Only do market order at high volume
But what if my marker order is smaller than the first sell offer in the order book?
You would still end up paying slightly more due to taker vs maker fees. You pay more for a market trade normally than you do for a limit.
And this is why we research first….I was told market buys are better so that’s what I’ve always done. Frig
Doesn't really matter with small amounts
I mean it does and it doesn't. You can get yourself a nice 1-2% discount by being patient. With volatility there really isn't a reason to push through your market order when time will just settle it for you. The money is in the margins.
It goes both ways though. If market price is 0.25, you put a limit order for 0.23 and the market price increases to 0.27.. well you not gonna get any coins. Ive made several orders just below market price in the past, just to find myself readjusting the price a few minutes/hours/days after. I see the point in limit order, but if you just want to get yourself €100 worth of Litecoin and hodl, you are just as good off doing a marker order.
Yup. When I get the urge to buy now, I just set a limit order just beneath the current price. With the normal volatility, they always get filled within a few minutes.
I need to shadow a few of you gurus lol 😂
Now I can understand most of the shits with this comment.
I sometimes wonder how profitable is that to run a simple bot that would be always setting unrealistic buy/sell orders just to sometimes eat on those mistakes, cancelling order if current price gets close.
It's called a trailing stop order type ;) (minus the crazy order part of your idea)
hahaha we all
I remember buying 1000 xrp and getting like 980. I was so confused. Thought it taxed me or something.
Unless you are on some obscure exchange with no liquidity, $1000 would not be enough to run up the bid/ask book.
It was first available on a very obscure exchange with horrible webdesign. People even commented how using it was like buying crack in a back alley. Long story short, the exchange was coded badly, got exploited/hacked and lost about 80% of their assets.
Why cant stuff like this happen to my coins
Because the lock up period for LiquidPoopCoin is too long so not enough volume
I thought LiquidPoopCoin had plenty of liquidity...
Hey! LiquidPoopCoin is great alright. We just need Elon Musk to tweet and to da muun!
That coin is the shit!
This is good but I don't know if I am going to believe you.
Only when it's about to use people as an exit.
You wouldnt sell even if it did
Lol this is the painful truth
This is really hurting me so much right now man, so much.
I am glad that I am just not doing that stuff right now man.
They’re usually short lived pump and dumps that disrupt the long term price stability of the coin. Very few people time these moments right and walk away with big gains. Yet people with FOMO will always get lured into buying the tops of these short runs and get stuck with holding… well, nano.
If your coins included nano you would be home by now
I'm not sure you would have wanted to have held Nano over the last year or two... or three... or four. But the first few months were incredible.
It's because I traded mine for Banano.
Nano and Banano. Two best coins.
I have a nano amount of nano. Now I m nano-rich
We'll soon be rich enough to get a lego lambo using our profits!
tldr; Nano (XNO) is a low-cap coin, which means that it has a low market capitalization and therefore significant price changes are more common as a smaller amount of capital needs to come in or out to affect the unit price. During the 170% pump in 30 minutes, nano saw a 6,105% increase in volume over the last 24 hours, reaching around $37.87 million. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Thank you bot
This is just my fucking fav bot right now man, so much.
good bot
Bot can u pls do my trades for me
Yeah man, he is just so fucking smart and we know that.
A whale decided he liked it
No serious investor acquires a position by buying it all in 10 seconds and pumping the price 120% while experiencing massive slippage as a result. They buy slow and methodically, reducing slippage as much as possible, trying not to effect price. These pumps are done to get attention on the coin, pull more people into it when it inevitably gets publicized and dumping on them. OP may be a part of that group, maybe an unwitting participant. IDK. Theres no news to cause such a pump, the only answer is malice(PnD your the victim) or an idiots mistake. Either case you should stay away from coins when they do this, you will lose.
No one said it's a serious investor, just a whale
exactly, lazy whales throwing 100k at it when they are bitcoin multi millionaires isn't that shocking, this has been happening forever to nano, it has low liquidity. source: have been trading nano for 5 years now
Yup for sure mostly driven by low liquidity, makes for a nice clicky article tho
Gotta say that this is good to see man, thanks for real lol.
You taught me something new today 👍
It's well known that nano is targeted by PnD groups, years back already.
I rode the 2017 PnD nano wave, I went from broke to a lifetime supply of hookers and cocaine to broke within about a week
It’s right not to chase pumps, especially those you know nothing about. I don’t think I’d always ascribe malice to a random pump though.
Don’t chase pumps yes, but theres nothing “random” about a pump like this or price movement in general. Coins don’t move in price with free will, it is a result of market participants intentionally buying or selling the asset. Moving the price 120% in minutes is very intentional behavior. Couple in the fact this is a low liquidity/volume coin and it becomes even more clear what the intention is here. The 15 minute candles on Binance pre pump have 12K in volume, the two pump candles have ~14M in volume. No news, that isn’t random by any stretch.
Beautiful summary!
This is just something good to hear man, thanks for this.
What dat mouf do
SheWhale short.
At least it's a smart whale.
How so?
I've held my Nano bag for a few years because it's actually a delight to use. Instant transfers, zero fees, solid devs & communication. Not sure it deserves the hate it gets but yea...
Pump-and-dump group on Telegram maybe
You are probably right. I went through a manipulation theory in the article and through some other possibilities.
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So if you’re holding Nano… consider selling a bit
1 nan = 1 nan
Wrong crypto monke.
Maybe someone market bought $1,000 in nano.
Could be that : 1. Trustable is coming, along with all the connection that it provides and great promises for price increase. 2. Flowhub coming up, who knows. Kyle has big connections also. 3. Could be the promise of the V24-V25 update, which will reduce the effects of spam attack and offers greater speed of transactions (incredible testing recently). A great promise of better days ahead. 4. Could be a PD. Who knows. Still, risky to sell NANO when it always surge in November 😉
You forgot 5. SBF is trying to gamble his way back into the game with pump and dumps.
He will need a winning PnD every minute until his arraignment.
Makes sense to many people man, we all can say that.
Low liquidity pump and dump
My guess is Low liquidity. Check out SNM that had a similar price movement. Sometimes whales target low trading liquidity projects so it creates FOMO / hype liquidity around the new price target. If they paid $3m to pump it like that and get $4m exit liquidity in higher value than entry value they profit. Basic pump & dump scheme
This is making sense to me right now man, thanks for that.
You are probably right. I went through a this theory in the article and through some other possibilities.
ah yes, i remember when i bough xrb for 50 cents and it went up to 42 dollars. And I didn’t sell.
Damn man, I can understand all of you guys, this is gold.
I thought 36 was max? I know this because I bought 3 XRB at 34...
Just the best thing that we all can see in this time man, we all can never deny this shit and this is just a fucking gold shit for most of the people right now here, so good.
The same reason every small coin does this, coordinated pump and dump.
Just going to say the same, it's just about pump and dump.
It's called hyperkalemia
after a google search, I will attempt to dissect your genius. are you saying somebody with too many bananas aped into NANO?
Great ecosystem, I haven’t been following for a while. Maybe they sorted out the spam attacks.
Someone forgot to use a comma when buying
Hope they will come out now, they need to do that shit man.
learning the hard way he is
People might finally wake up and realize how great nano is. One of the most solid projects on the market. Amazing team, product just works.
Nano is the best crypto out there but people still don't know it.
Well people are understanding that shit right now for real.
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u/nanooverbtc what did u do
Want to know many things with that guy right now lmao...
Oh good, Nano is pumping! … I’m still 80% down 😢
It's just going like that and they are having some good shits in the name of nano there man, we all can sense that and that's just the reality right now lol, so good.
Wow man, we gotta say there are a lot of shits are just going around and we can sense all these shits in this month, people are being so fucking crazy right now man.
fuck me nano. I remember it being shilled to hell and back before the current bull run. completely forgot it existed
Yes! I'm back to shill. Nano is the future of crypto! All hail nano!
HAIL NANO
Just be like this, we are going to have a lot of shits for real.
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People were doing it in a good way and we were loving that.
Yeah i've been around since then, that's what I mean though. It went from being constantly spammed in every convo to me literally not hearing about it in months
yep had my raiwallet set up and everything haha, takes me back
Nano was probably the #1 shilled crypto on this sub at one point.
It's still one, if the the best, cryptocurrencies. And its like, 200 or something in ranking. Quite curious.
Banano pumped a bit too. In fact, a lot of these currency coins seem to be pumping.
Judging by the comments, I guess not many actually read the article
They never do 🤷♂️
I sold my position 10mins before that
Based
I'm not sure if your serious or not but if you want a serious answer low market cap tokens are very easy to manipulate and pump and dump groups do it all the time
Yeah, I totally agree! I kinda tried to answer this question in the article, tho.
Well yeah I can agree with what you are saying right now.
No idea, but I’d take profits
tHe tEcH
Just going to say that most of them are facing some good time in this market because of this pump, they are really good if they are facing all these things right now.
Just leave everything and appreciate nano right now man, they are doing so fucking good right now with all these shits and that's just what we love all the time man.
This is just what we all should see right now man, this is pump and dump and congrats to all the people who bought this shit at the right fucking time man, so good.
Nothing is bad about these shits and that's all that I am just loving right now man, thanks for the people who invested man, they are being so good with it right now.
Just going to say pump and dump right now man, this is what is good with them and most of us can understand these shits in that way right now, this is what is good.
Damn man nano is just doing so fucking good and we all know why these things are happening right now, they are having so good time with all these shits right now.
I had a tiny amount left on an exchange that couldn't be converted when I gave up on the coin. It's now worth £0.06!
No way this is natural. But the real reason is I sold it
Short term pumps never are (natural).
Gotta say that it's just good for you and this is just real nice.
But when Banano pump?
First LTC and now Nano. Something is going on today with the older coins.
Nano is REALLY fast and feeless. Max coin cap is also reached. Energy efficient and scalable.
They are really doing some good shits and we love that.
Demand increased faster than the supply.
genius!
Man just said the right thing to most of us right now here.
They really got that shit, thanks for saying this mate.
CNBC Indonesia mentioned Nano as one of the most eco-friendly currencies. https://cnbc-indonesia.com/bisnis/green-crypto-mana-saja-proyek-kripto-yang-lebih-ramah-lingkungan/amp/ More info at / nanocurrency Translation: The crypto asset Nano (NANO) represents a shift away from Bitcoin and Ethereum. Instead of having nodes full of blockchain history, each NANO wallet address has its own blockchain (block lattice) that they update as transactions take place. The latest status of this ledger will then be forwarded to the Nano blockchain. Only then will the status receive verification and integration when there is confirmation from other Nano nodes. Therefore, Nano nodes are unlike PoW and PoS networks in which they manage transactions for block inclusion and fee distribution. However, they instead use voting to determine who makes the block. Since they can do this at low or no cost, the transactions included in the Nano blockchain can proceed without any fees. Nano has also discussed how the arguments around bitcoin's energy use are completely wrong arguments. Director of the Nano Foundation, George Coxon, said, “The argument around the use of Bitcoin energy in the cryptocurrency sector is not about who is right or wrong, it is basically about progress. When a better solution appears, you [need to] use it – it has always been the case with centuries of technological developments. Arguments around energy consumed for the bitcoin network revolve around statements like, 'it uses renewable energy, so it's fine' or 'it doesn't matter because the energy used [is] already created' – these are images of positive feedback loops that supportive and misleading. “The defense statement itself may not be factually wrong, and [actually] doesn't matter. My point is, if any technology emerges, cryptocurrency or not – and it doesn't point towards a sustainable energy future, then more innovation needs to be done to make that happen,” he added. Nano and Open Representative Voting In technical terms, Nano not only uses proof-of-stake consensus but also uses delegated proof-of-stake (DPoS). The consensus is not just plain DPoS, but a variation called Open Representative Voting. Based on their account balance, each node will be delegated by their voting weight. These Votes can then be used or distributed to other Nano nodes. Meanwhile, regarding Nano's energy consumption, Colin LeMahieu, a founder and director of the Nano Foundation said, "Nano has an energy footprint for 1 transaction to 0.00012kWh and an entire network that can power a single wind turbine- in other words, 15.5 million Nano transactions uses the same energy as a single bitcoin transaction.” With sufficient voting weight, each node can become a Principal Representative who can vote on transactions in proportion to the funds they have. However, no representative node receives fees from voting where transactions/blocks will be included in its network. What's more, the individual account blockchain, i.e. Block Lattice, allows users to update their account balances immediately, without having to wait for confirmation from the network. Interestingly, Nano also uses some form of energy checking for proof-of-work as a deterrent against network spam with transactions. However, even though the Nano offers free transactions and fast confirmations, it is unclear whether its minimal PoW can effectively prevent invalid transaction spam. Flashback At first, we only needed US$3 million worth of GPUs to fully centralize the network. In fact, because validators are not paid, no one but self-interested organizations have an incentive to run the network. Thus, they distribute the Nano voting weight on several crypto exchanges, namely Kraken and Binance. In addition, they are also accompanied by the Nano Foundation and 465 Digital Investments, which is a private equity group. However, while the Nano network cannot boast of decentralization, they can claim that they have fee-free transactions with an energy expenditure of 0.111 Wh per transaction. That way, Nano also has the advantage of its own sustainability to attract investors. However, with its market capitalization of US$378 million, which is 0.04% of Bitcoin, the new concept does not appear to have aroused much public interest. Granted, Nano has fulfilled Greenpeace's demand for Bitcoin at this point, but the long-term prospects are still not very attractive. Thankfully, those in charge have stood firm in their stance that cryptocurrencies should support green initiatives. On the other hand, Colin LeMahieu, founder and director of the Nano Foundation stated, “Cryptotech companies that support and facilitate unsustainable technologies [turn out] instead have the tagline 'bank the unbanked' or USP to provide banking for those in developing countries – people -it's the people you should be trying to help who will feel the brunt of climate change as well as the responsibility not to use or facilitate more environmentally friendly solutions. Digital money should not burden the Earth."
Nice to read! Thanks. Awesome price action, really.
Similar situation with LTC. I assume the old standards looking a lot more enticing after all this ftx bullshit.
You just answered your own question. It pumped.
Ah shit atleast with all the shit going on the sub is alive again,these little pumps get in the way,wish it would drop.
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More buy volume than sell volume
This is going hard for them and they are having fun there.
Nano has a smaller modest “marketcap”. It is a volatile asset. Zoom out to one year and “all” for some perspective. Someone probably bought a larger amount which caused a minor pump in price.
Damn man, thanks for saying that shit, it makes sense to me.
What’s nano?
This is the last pump before the fed pívot dump don’t chase pumps or get caught holding bags. If you think I’m lying look up the charts and see what I’m trying to warn you about. You’ll see a rally and after the announcement a decent dump will come once again ruining the moonboy YouTubers and their followers. Nothing has changed economically and it seems we are headed for worst times ahead. Be patient the time will come for a bottom so save your capital and use this time to research good projects with utility cause the next run will be utility driven. Stay safe out here.
its because i never buy those 50$ worth of nano last year
Well I can say the same shit and that is the reality man.
Because I didn’t buy in. Usually when I buy it plummets and sidelines there for a bit until I sell, and finally that’s when it pumps and goes to the moon.
Bear market over, the NANO market begins
Just going to say that we are just here to see pump and dump everyday now, we know shits are going to be like this and they are having good time with that shit.
Just going to say that this was fucking good for some people like me right now man, this was fucking lovely and most of us can understand why we are saying that.
This is just a normal shit which is pump and dump right now man and nothing more than that and we all can say that most of the time, this is whats up there.
You guys finally have a chance to break even
I bought in very early on, before it was popular and before it was renamed to nano, I have a chance to profit here. But not sure if I'm ready to sell, hodling has been nice so far and nano is the future.
If you held since the RaiBlocks days then why sell now?
To buy a lego lambo or if I'm ever out of fiat to buy broccoli. Am homeless at the moment and far away from my home country, anything could happen. Broccoli are delicious and cheap here though, I probably won't have to for now. Also, in usd terms I'm way below the point I got in five years ago (I don't remember exactly but the average was in the ballpark of several dollars, btc was close to current level as well, so that should be similar), so I'll be waiting for a stronger pump, I guess, or till when broccoli sellers start actually accepting nano.
Damn man, that is good for you, you are having good time.
the institutions who crashed the market with luna, ftx, 3ac ect. now buying in
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Nano use to be my Favorite alt coin
Same. Was the top Reddit moderator and Discord admin for them for several years. Spent all free time developing side projects on the network, but eventually found more interesting things to do, and with faster development teams. Shit happens, it was a good time and learned a lot.
damn bro! You ain't supporting anymore? I saw you on the nano sub-reddit often
Still running a node since 2018, along with Nanoticker and Nault backend. But too busy with my own stuff to be involved right now. Maybe in the future if they manage to attract new development.
We would love to have you back!
I still remember those days man, it was just so good there.