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Read all about it at the above link. There’s way too much to process here. This is going to be wild.
I’m partial to Nano as the most practical currency implementation. Feeless, instant, decentralized. But only in theory, I’m not actually invested or anything. Monero seems relatively cool too.
It sounds cool but seems to suffer from bitcoin’s flaws? Namely fungibility and all your financial records are in the clear. With monero nobody knows how much you hold or what your transactions are. With Morero coins can’t be “tainted”.
Yeah the privacy aspect of Monero is definitely superior.
I think the fungibility of Nano is actually great, I believe the coins can be divided to 12 decimal places or something. Unless I’m misunderstanding what fungibility means.
The Nano use case is similar to cash, it’s easy and fast, but I agree that it’s not really useful for major financial transactions. More like buying a cup of coffee for someone across the world with no fees and instant transaction time.
Bitcoin always promised something like that, but in reality there are massive fees and transactions take forever to complete, so it’s just not fit for purpose.
I more mean that you can tell a coin is tainted, it’s not fully fungible. If a coin has ever been used in illicit trade, it can be known and some institutions won’t accept them. That makes some coins worth more than others. It’s not a nice property of a currency to know the full history of a unit of currency.
I’m partial to Nano as the most practical currency implementation. Feeless, instant, decentralized. But only in theory, I’m not actually invested or anything. Monero seems relatively cool too.
It sounds cool but seems to suffer from bitcoin’s flaws? Namely fungibility and all your financial records are in the clear. With monero nobody knows how much you hold or what your transactions are. With Morero coins can’t be “tainted”.
Yeah the privacy aspect of Monero is definitely superior.
I think the fungibility of Nano is actually great, I believe the coins can be divided to 12 decimal places or something. Unless I’m misunderstanding what fungibility means.
The Nano use case is similar to cash, it’s easy and fast, but I agree that it’s not really useful for major financial transactions. More like buying a cup of coffee for someone across the world with no fees and instant transaction time.
Bitcoin always promised something like that, but in reality there are massive fees and transactions take forever to complete, so it’s just not fit for purpose.
I more mean that you can tell a coin is tainted, it’s not fully fungible. If a coin has ever been used in illicit trade, it can be known and some institutions won’t accept them. That makes some coins worth more than others. It’s not a nice property of a currency to know the full history of a unit of currency.
I see. Thanks for the explanation