I don't know a whole lot about Nano, which is why I'm asking you to change my view. I want to believe in instant, fee-less transactions with 0 inflation, but the problems seem to outweigh the benefits.Just 11 accounts own over one-third of the Nano stake, and two accounts have a third of the stake delegated to them. (source)This small group of people has no incentive to be honest. This supposedly decentralized network relies on just a few people to act in the best interests of the network with no incentive not to do the opposite.I don't think that a crypto should have to rely on people doing the right thing for it to work. Gold doesn't rely on people to do the right thing. Bitcoin doesn't rely on people to do the right thing (with the exception of 51% attacks, which at this point are practically impossible). A currency should be absolute, not dependent on a regulatory body (especially not one this small). I just can't see a system like this working on a large scale.Change my view.
Submitted August 23, 2020 at 12:38AM
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