Nano Deep Dive Update - Should You Buy Now? (Death Spiral Complete?)

in nano •  3 months ago

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A week ago I wrote about how the Nano chart was looking delicious. Since this we have had a pretty strong pump. Other coins are pumping hard today including fellow DAG coin IOTA.

Positives of Nano

  1. New mobile, desktop, and web wallets. https://nano.org
  2. Free and Instant transactions.
  3. No inflation or additional coins minted into existence.
  4. Completed it's death spiral crash
  5. Listed on Binance which is the largest exchange in the world.

Negatives of Nano

  1. Mainly on Altcoin exchanges that don't have fiat parings.
  2. Potentially just another coin with the rest of the coins that are mainly just speculation.
  3. Main function is just a transactional currency. Tough to gain adoption amount the rest out there.
  4. No financial incentive for someone to run a full node to support the network since there is no mining or additional coins being minted.

Conclusion

It is an interesting project and coin to look at. It could potentially be a buying opportunity if you believe it could even rise to even a fraction of what it was formerly trading for. It could take awhile until we finally see any real positive movement though. There is no way of telling but something like this could flatline for 6 months or more. So make your own decision if this is something you want to invest in.

Here is the video I did when I first found out about it. It mainly all still plays true even though the name rebraded to Nano from Raiblocks.

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Nice vid, interesting to compare the graph to Monero, Litecoin and Bitcoin.

What prompted me to double down on NANO a few weeks ago was it had dropped to about 50th of Coinmarketcap. Now it is more or less back to where it has "belonged" since December between 20-30 I think the price will move sideways in short term.

I actually sold a small amount around $3.50 to buy some EOS at $5 which turned out to be a nice little trade so far.

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Nice! Yeah I also think it will move sideways for a little bit as well.

it's a good choice friend thanks for sharing

interesting project friend, I'll think about it