7 ms·

Yep, that's what I thought nano had done: https://nano.org/en https://nano.org/en instant, fee's a fraction of a cent, I thought this was it, international pa

by ikt 9mo ago

Yep, that's what I thought nano had done: https://nano.org/en https://nano.org/en instant, fee's a fraction of a cent, I thought this was it, international payments that don't rely on visa/mastercard! and then it just went no where :\

Nextgrid 9mo ago
Because in practice services like TransferWise solved this problem using fiat currencies with fees low enough not to make it worth bothering with crypto.
- nout 9mo ago
  For larger amounts it makes sense to use the bitcoin rails for international transfers. I'm doing bank to bank international transfers and using bitcoin saves around 3% compared to Wise and you get the money immediately (or within 1hr, depending on what you use).
  - fpoling 9mo ago
    Few years ago I needed to transfer a big sum from a Scandinavian country into Euro. The official bank exchange rate plus fees was worse than Wise’s. But I asked the bank and the bank gave me an exchange rate that was like 0.1% better than one from wise.
    - nout 9mo ago
      Depending on the direction, but there are ways to actually make a little extra on top of the middle exchange rate (e.g. on the USD to EUR path), since there are many people that want to buy no-KYC bitcoin in Europe and they are willing to pay a couple % extra.
- ikt 9mo ago
  I duno, I still can't make a payment on the net without Visa or Mastercard, still a problem to be solved to me Looks like other people still trying to solve as well: > Earlier this year, Coinbase changed online payments forever with a new protocol called x402. But could this technology really usher in a new age of 'machine to machine' payments? Let's run it... https://www.youtube.com/watch?v=S6wc6yvoZLY https://www.youtube.com/watch?v=S6wc6yvoZLY
  - lmm 9mo ago
    > I still can't make a payment on the net without Visa or Mastercard Let me introduce you to the wonders of Discover.
- rjdj377dhabsn 9mo ago
  Every time I try to use TramsferWise, I end up jumping through KYC hoops for hours - days. Sending crypto is much simpler and faster.
- troyvit 9mo ago
  Man they don't solve it for me. They charge much more for using a credit card vs a checking account, especially when going across currencies, and I consider it pretty dumb to share my checking account information around when I can control things much more easily with a credit card. And literally any fee they charge is more than what nano charges. It's just that nobody takes nano :(
BLKNSLVR 9mo ago
Nano is pretty amazing, but, yeah, the interest is in profit not the technology, so it's fading into the background. Pity.
dimensional_dan 9mo ago
Turns out nobody is actually interested in transacting with crypto otherwise Nano would have been a winner. I also love Banano, a Nano fork where you mine by folding proteins. Work that has actual value.
immibis 9mo ago
Almost every cryptocurrency starts out with low fees and then fees increase when it gets popular and runs into processing limits.
- Imustaskforhelp 9mo ago
  Okay full disclosure, I believe in stablecoins only but what are your thoughts on nano. It has zero fees and I worked using its zero fees to store data/timestamps in it by nanotimestamps Personally I prefer usdc on polygon
  - immibis 9mo ago
    > what are your thought on nano. It has zero fees I repeat: > Almost every cryptocurrency starts out with low fees and then fees increase when it gets popular and runs into processing limits.
    - Imustaskforhelp 9mo ago
      Once again, I have no skin in the game at all and I do not own any nano. Nano uses proof of work to counter scam from both sending and receiving side and it uses open representative voting. Basically nano works from my understanding as like hey, we will host the servers for nano since its kinda cheap to do so but also that we can promote our services via the voting model, mostly done by exchanges like binance,kraken for free. The model of nano lacks the idea of payment in the first place, its whole model is built around send/recieve proof of works and representative voting I created a tool which did literally 10s of transactions on nano tokens I got from a faucet and they had 0 fees so I stored data like "hello world" lets say on the chains without losing a single coin (I had like 0.000001) or something They still are sustainable and without spam by that much partially because of their proof of works and from what I know, it can get really hard to spam if one tries to do so. Personally there is nanusd but its highly unregulated, just created by one guy, I wish if something like nano can be created at a stablecoin level but yea. What are your thoughts now, I wish to not sell on nano (the coin) but ORV (the technology), I find it more interested than blockchain essentially, there are some minor differences like nano uses lattice structure etc. Also please dont buy nano reading this, I find the coin still speculative and I wish if someone can create a more regulated version of a stablecoin combined with running basically a nano node internally, its all open source I guess.

by ikt 9mo ago

Nextgrid 9mo ago

Because in practice services like TransferWise solved this problem using fiat currencies with fees low enough not to make it worth bothering with crypto.

nout 9mo ago
For larger amounts it makes sense to use the bitcoin rails for international transfers. I'm doing bank to bank international transfers and using bitcoin saves around 3% compared to Wise and you get the money immediately (or within 1hr, depending on what you use).
- fpoling 9mo ago
  Few years ago I needed to transfer a big sum from a Scandinavian country into Euro. The official bank exchange rate plus fees was worse than Wise’s. But I asked the bank and the bank gave me an exchange rate that was like 0.1% better than one from wise.
  - nout 9mo ago
    Depending on the direction, but there are ways to actually make a little extra on top of the middle exchange rate (e.g. on the USD to EUR path), since there are many people that want to buy no-KYC bitcoin in Europe and they are willing to pay a couple % extra.
ikt 9mo ago
I duno, I still can't make a payment on the net without Visa or Mastercard, still a problem to be solved to me Looks like other people still trying to solve as well: > Earlier this year, Coinbase changed online payments forever with a new protocol called x402. But could this technology really usher in a new age of 'machine to machine' payments? Let's run it... https://www.youtube.com/watch?v=S6wc6yvoZLY https://www.youtube.com/watch?v=S6wc6yvoZLY
- lmm 9mo ago
  > I still can't make a payment on the net without Visa or Mastercard Let me introduce you to the wonders of Discover.
rjdj377dhabsn 9mo ago
Every time I try to use TramsferWise, I end up jumping through KYC hoops for hours - days. Sending crypto is much simpler and faster.
troyvit 9mo ago
Man they don't solve it for me. They charge much more for using a credit card vs a checking account, especially when going across currencies, and I consider it pretty dumb to share my checking account information around when I can control things much more easily with a credit card. And literally any fee they charge is more than what nano charges. It's just that nobody takes nano :(

BLKNSLVR 9mo ago

Nano is pretty amazing, but, yeah, the interest is in profit not the technology, so it's fading into the background. Pity.

dimensional_dan 9mo ago

Turns out nobody is actually interested in transacting with crypto otherwise Nano would have been a winner. I also love Banano, a Nano fork where you mine by folding proteins. Work that has actual value.

immibis 9mo ago

Almost every cryptocurrency starts out with low fees and then fees increase when it gets popular and runs into processing limits.

Imustaskforhelp 9mo ago
Okay full disclosure, I believe in stablecoins only but what are your thoughts on nano. It has zero fees and I worked using its zero fees to store data/timestamps in it by nanotimestamps Personally I prefer usdc on polygon
- immibis 9mo ago
  > what are your thought on nano. It has zero fees I repeat: > Almost every cryptocurrency starts out with low fees and then fees increase when it gets popular and runs into processing limits.
  - Imustaskforhelp 9mo ago
    Once again, I have no skin in the game at all and I do not own any nano. Nano uses proof of work to counter scam from both sending and receiving side and it uses open representative voting. Basically nano works from my understanding as like hey, we will host the servers for nano since its kinda cheap to do so but also that we can promote our services via the voting model, mostly done by exchanges like binance,kraken for free. The model of nano lacks the idea of payment in the first place, its whole model is built around send/recieve proof of works and representative voting I created a tool which did literally 10s of transactions on nano tokens I got from a faucet and they had 0 fees so I stored data like "hello world" lets say on the chains without losing a single coin (I had like 0.000001) or something They still are sustainable and without spam by that much partially because of their proof of works and from what I know, it can get really hard to spam if one tries to do so. Personally there is nanusd but its highly unregulated, just created by one guy, I wish if something like nano can be created at a stablecoin level but yea. What are your thoughts now, I wish to not sell on nano (the coin) but ORV (the technology), I find it more interested than blockchain essentially, there are some minor differences like nano uses lattice structure etc. Also please dont buy nano reading this, I find the coin still speculative and I wish if someone can create a more regulated version of a stablecoin combined with running basically a nano node internally, its all open source I guess.