1/8 Forcing fees on the base layer eventually prices out network participants. I'm a big fan of #nano's self-sovereign PoW. Either I can perform it myself or pay someone to do it for me. When I send nano to someone, it's the same value when received. No middlemen #btc $btc $nano
2/8 Said another way: Gold doesn't have fees if I hand my gold coin to you. It's not until we need a custodian that fees and second layer technologies start to play in. And those are due to inefficiencies of gold (It's weight and poor divisibility) $btc $nano #nano #btc
3/8 With that said, feeless does not mean free. There's still a PoW cost to send a transaction on the #nano network. Fees can be built as a second layer solution when necessary (i.e. the cost of PoW is too expensive for me) For example: reddit.com/r/nanocurrency…
4/8 Regarding dilution. If we could mine all of the gold to ensure no inflation and hence no dilution of your wealth, that'd be preferable. Bitcoin mining isn't necessary, it's a byproduct of the technical architecture. Security can be achieved without it. #nano does this. #btc
5/8 With that said, Nano is still incredibly young compared to bitcoin, so it would be a bad bet right now to go against the tailwinds feeding #bitcoin. But we need to keep our minds open to understanding the ideals of money. #nano provides another order of magnitude improvement.
6/8 One thing the #nano community is missing is that nano first needs to become a store of wealth before it's used as a medium of exchange, like bitcoin is going through right now with its gold 2.0 narrative. Let's achieve that first. #bitcoin $btc $nano
7/8 And finally, It'll be extremely difficult to unseat the incumbent, but if it does (and I believe it will given a long enough time frame), then it provides a more equitable and efficient form of money than even #bitcoin. Free-market darwinism will play a role. $btc $nano #nano
8/8 In the mean time, let's ride the waves of #bitcoin's halving. We can utilize that as a viral loop to draw new users, savers, and businesses in to the ecosystem. I've followed #nano since 2017. Thank you @nano and @ColinLeMahieufor your incredible work! $btc $nano
bleh, meant @ColinLeMahieu #LearningHowTotweet
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