![]() All nano can do is transact value from A to B, free and cheap. Why is this you may ask? The answer is obvious: anyone would immediatly notice that other altcoins can do what nano can and have much better functionality, use cases and backing. > What I find interesting about nano proponant is that they never, NEVER compare nano to other altcoins in their "bull case for nano". This would make the use of smart contracts very easy on bitcoin and pave the way for DEFI similar to the scale of ETH and others. > We also have important updates coming to the bitcoin network such as Schorr Signatures, RGB and possibly Eltoo. > Decentralised finance (lending & borrowing bitcoin specifically) > Call someone without anyone ever knowing through LN and even send money over if you wish so > Use atomic multipad payments (AMP) to send FILES through nodes in LN (e.g. > It is possible to send messages (app like or email) through LN, completely private and encrypted > Aside from this, there are also many other things you can do with LN which I will only briefly touch but link to here: You could also do something like 'pay for what you watch' as opposed to having a subscription of 10 dollar/month even if you don't use it. But now it is possible to listen to podcasts through LN, making 0.001 dollar payment per minute, which is nothing for the listener, but can amount to a significant sum for the podcast creator. For example, right now all podcast makers have to find "sponsers" to earn money with the podcast. paying equivalanet of 0.001 dollar) opens the way to revolutionazing finance and how companies operate. For one, the micropayments possible with LN (e.g. In contrast, bitcoin DOES hold competitive advantages over nano. > So the conclusion we can draw from here is that nano holds no competitive advantage over bitcoin. I suspect consciously because they always claim bitcoin is not scalable when this is obviously false and they know that too. What the nano proponant either don't know, or as I would expect from them, consciously omit is that we already have a sort of "firewall" for this attack and this problem has been fixed. > The nano proponant proceeds with more FUD: "Ya but LN has many security issues, there is the famous flood & loot attack, you should google it". They are not yet in use, as LN has not reached it's capacity yet. This is false, I dare say even FUD, as we have something called the lightning channel factories which can scale LN to support the entire world. > However, when you mention this to a nano proponant, they always come back with the same boring argument: "Ya but there is only 7 TPS in the main chain layer, therefore, L2 is not scalable, as you would need on-chain transactions to open and close LN channels". By now, anyone in the space knows of the L2 solution for bitcoin, the lightning network, which does exactly the same as nano does: giving instant and practically free transactions. What I always find interesting, is that nano proponants always claim that bitcoin "is not scalable", knowing full well that this is not the truth. > Now let's dive deeper into the arguments provided by nano proponants. Aside from perhaps ethereum, I don't think there is any crypto which has transaction volumes of over billions of USD's. I dare say that bitcoin is the most secured blockchain in the world. What they forget to mention is that it is exactly this high electricity cost which provides the security of bitcoin. Nano proponants have entire graphs of electricity use and metaphors to "strenghten" their case. > The arguments I have seen in this subreddit are always the same boring arguments: It is fast, free and compared with bitcoin it takes less energy. > Update: today nano has fallen out of top 200 coin! > Disclaimer: This argument has been used by myself in the last round. > # A bearish case for Nano: a discussion about bitcoin's scalability and a comparison of Nano with other altcoins. Below is an argument written by pashtun92 which won 1st place in the Nano Con-Arguments topic for a prior (/r/CointestOfficial/wiki/cointest_policy) round.
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