Dangerous flaws and major problems with Nano

[Anonymous No.11202421]

>Nano has 756 TPS [1][2]. VISA can handle over 56,000 TPS [3]. Competitors work on 1 million TPS solutions [4]. Nano’s aim to be global currency is either delusional or a fraud.
>7,000 TPS was falsely boosted and promoted, causing the Nano price to skyrocket 97.7x in December 2016 alone. Real transactions per second (TPS) for Nano, however, was a meagre and pathetic 100-200 TPS [5].
>Nano falsely claim theoretical unlimited scalability, only constrained by hardware and bandwidth limitation [6]. This is as absurd as claiming that a car has unlimited speed theoretically, and the goal is to drive so fast that the car escapes earth’s gravitational field and park on the moon. Nano’s technical updates don’t bring it closer to the goal. It’s like saying the improvements on the engine of the car has brought us closer to driving to the moon.
>Nano advocates like to use average demand as benchmark for needed TPS. This is false. Who will use a currency that will crash at every emergency, at Christmas and other holidays?
>Nano (Raiblocks) was a dead amateur coin, worth less than 10 cents less than a year ago, until it was discovered and pumped hard by Italian scammers. Only after the pump did Nano full time dev. This amateur project has had a full-time dev for less than a year, with a horrific team and management picked among incompetent friends and supporters.
>Lead devs are leaving Nano. Insiders obviously know Nano is riddled with terminal flaws and structural problems. Insiders obviously know Nano is riddled with terminal flaws and structural problems.
>Devs are dumping Nano on the market [7]. Insiders obviously know Nano is riddled with terminal flaws and structural problems.

[Anonymous No.11202423]

>>11202421 (Cont.)
>Constant node issues. Withdrawals/deposits suspended on several exchanges due to security and stability issues, multiple times, every single month. All exchanges down less than 6 weeks ago [8]. Kucoin less than 3 weeks ago [9]. Another failed update and node crash this week [10][11]. This despite being miles behind having any sort of global currency traffic. Nano could be years away from even having the potential to be a well-functioning global currency.
>Coinbase will only use coins stable for multiple months. Nano is far away from that, see above and [8] [9] [10] [11]. Coinbase will also stay away from a coin riddled with legal problems [7] [12]. Best case scenario is having Nano on Coinbase late 2019, if at all, leaving Nano hopelessly behind other cryptocurrencies.
>One single miner can destroy the network via DDoS with 500 GPUs at no cost [13] [14]. A critical attack vector never seriously addressed by the Nano dev team. Having the problem highlighted to them, admitting to it, their response has been the usual -to promise and deflect -without providing any real technical solution. Nano is wide open for a massive spam attack crippling the network for a long time. This also scares the Coinbase experts; a total crash in Nano, via spam vulnerability and insane node issues, will reflect badly on Coinbase.
>Nano team seem like tech amateurs. Don’t understand the difference between Random (not cryptographically secure) and SecureRandom. Don’t even understand basic cryptography. A disaster in waiting.

[Anonymous No.11202425]

>>11202421
link is shit

[Anonymous No.11202429]

>>11202423 (Cont.)
>Former head of engineering at Facebook, Bryan Veloso: Nano "just a hype...no real use case" [16]. Currently NANO is only processing 0.15 transactions per second. Transactions have gone down in the last months. Extreme low usage combined with a very speculative 90x pump in just one month, causing a flash crash, are all indicators of a coin with pure hype and speculation, without any real value. Bryan Veloso’s claim that Nano is just hype with no real use cases is validated by empirical data.
>Charlie Lee, creator of Litecoin: “Nano will have a hard time being decentralized... It won't be as uncensorable as Bitcoin or Litecoin” [17]. “Nano is not without faults...it has a LONG way to go” [18].
>Millions of USD sold from the Nano Developer Wallet lately, at extremely low prices. Not a good sign that devs are dumping Nano in a fire sale [15].
>Nano team marketing strategy is to have no marketing strategy.
>Nano team adoption strategy is to have no adoption strategy.
>Nano’s essentially following same strategy as Betamax vs VHS and HD vs BluRay.
>First coin on Amazon, eBay, etc. will be the global currency. Nano’s avoiding partnership. Nano’s publicly stated “strategy” is to not seek strategic partnership, basis being that USD has no partnership as a currency, so why should Nano have one. Ridiculous.
>Dev fund is dangerously low, they may burn through it in a matter of 1-3 years [15]. Also, multiple pending and coming lawsuits against the Nano foundation.
>100 addresses hold 65% of all 133 million Nano. Initial distribution to friends of developers, nontransparent distribution method. Who solved the captchas? Where is the audit? Extreme centralization that only got worse with BitGrail, where large holders of Nano (including devs/friends of devs) managed illegally and unethically to get out of the insolvent exchange, leaving normal investors behind to take an 80% loss.

[Anonymous No.11202432]

>>11202429 (Cont.)
> 51.27% voting weight, held in 6 addresses, opens vulnerability to devastating 51% attacks.
>Flawed structure, currently insane 92% of the voting power in the top 1% of the nodes only [19].
>No smart contracts. Masternode coins utilizing high capacity data contracts on their second layer are the future. Nano can't do any of this, it cannot compete with other coins.
>Must run expensive nodes for free. A borderline insane and untested business model that will most likely crash the network. Even if it worked, no matter how unlikely, with full adaption the cost of running a node would be astronomical, leading to extreme centralization. Having again the elites controlling our money must be avoided. No financial incentives for DPOS representatives to keep securing the network.
>Same whales that pumped and dumped Nano first time (-98% from ATH), pumped again. Failing to pump further, will result in a dump again, very soon. The delusional Nano hodlers will be stripped of their money again.
>70% centralization of all Nano, due to Nano original developers setting default node to their own.
>The code hasn't even been audited by an established software security company.
>Nano is permissioned and non-trustless [20]
>Going from UDP to TCP too late and too slowly [21]
>90% of github commits by only one person (Colin) in the whole “team”.
>Hired pretty girl, G. Coxton, who’s done nothing. Why’s she not on YouTube pushing Nano?
>Nano team are business amateurs. Pushed BitGrail when clearly a dangerous exchange. Guaranteed bomber as a good guy. Rebranded to Nano right before BitGrail exploded. Retarded decision. Marketing disaster.

[Anonymous No.11202437]

>>11202432 (Cont.)
>Nano has no ‘human face’ for people to connect with, it’s just an empty logo. Unlike other top 10 coins – e.g. Ethereum has Vitalik, Tron has Justin Sun, Litecoin had Charlie Lee. NEO has Da Hong Fei. EOS has Dan L. etc.
>Nano has post Bitgrail probably the worst community in crypto [22][23], much of it due to the Nano teams catastrophic handling of the Bitgrail crash.>There are many other coins that are far better than Nano, with instant transactions, zero fees, near infinite scalability, near infinite decentralization, permissionlessness and trustlessness, 1 millionth the energy usage of Bitcoin [24][25][26]. Nano is an extremely risky investment [27]
>Posted some of the above questions on Nano subreddit. Got banned.
>Multiple pending and coming lawsuits against Nano devs personally and Nano foundation. Ugly truths about the Nano team, Nano devs and Bitgrail will come out [12][7]. It could lead to bankruptcy and a total shut down of the project.
>Anyone investing in this documented shitcoin deserves to lose their money. Nano is Bitconnect 2.0

FOOTNOTES:
[1] https://www.reddit.com/r/nanocurrency/comments/982bq9/stress_test_beta_network_v15_results_in_here/
[2] https://www.reddit.com/r/nanocurrency/comments/98alqy/why_isnt_stress_test_result_published_as_5700_tps/
[3] https://www.accenture.com/no-en/success-visa-connected-commerce-car
[4] https://www.ccn.com/vitalik-buterin-ethereum-will-eventually-achieve-1-million-transactions-per-second/
[5] http://archive.is/iq9fP
[6] https://nano.org/en/whitepaper
[7] http://archive.is/lDoCW
[8] http://archive.fo/v2noA
[9] https://news.kucoin.com/en/nano-deposits-and-withdrawals-are-now-enabled/
[10] https://medium.com/nanocurrency/weekly-nano-update-9-17-18-834f3a493994
[11] https://www.reddit.com/r/BinanceExchange/comments/9flnx5/is_nano_deposit_broken_someone_also_having/
[12] http://archive.is/dOMVA
[13] https://www.reddit.com/r/nanotrade/comments/7vwl86/what_are_the_faults_of_nano/dtvpymd/

[Anonymous No.11202445]

>>11202437 (Cont.)
[14] https://www.reddit.com/r/nanocurrency/comments/90wu2v/what_are_the_negative_things_with_nano/e2tskr8/
[15] https://www.nanode.co/account/xrb_1ipx847tk8o46pwxt5qjdbncjqcbwcc1rrmqnkztrfjy5k7z4imsrata9est
[16] https://www.quora.com/Is-the-NANO-crypto-coin-a-working-product-If-so-what-advantage-does-it-have-over-on-other-crypto-coins
[17] http://archive.is/e7oVV
[18] http://archive.is/GvyPd
[19] https://www.nanode.co/representatives
[20] https://www.reddit.com/r/nanocurrency/comments/92b1at/how_does_nanos_dpos_compare_to_other_dpos_such_as/
[21] https://www.reddit.com/r/nanocurrency/comments/8kt2ed/universal_block_canary_has_been_released/dzakb0a/
[22] >>11104923 →
[23] http://archive.is/DlNyk
[24] https://www.quora.com/What-are-crypto-currencies-you-are-bullish-on-for-the-next-bull-run/answer/Marius-Kramer
[25] https://www.quora.com/Which-is-the-best-crypto-currency-to-buy-in-September-2018/answer/Marius-Kramer
[26] https://www.quora.com/What-makes-a-bad-crypto-currency/answer/Marius-Kramer
[27] https://youtu.be/JS9tJgbFTUA?t=27m27s

[Anonymous No.11202468]

>>11202425
Potential Nano investors, please pay attention. The fanatic Nano supporters are here on /biz/ 24/7 to mess up the flow in any multi-message documented criticism of Nano. However, they will never address any of the points in the criticism with facts and logic. Instead they will use ad hominem, smear, doxing and spamming. Not once will they even attempt to debunk the criticism, because they can't and they don't care.

Nano is Bitconnect 2.0

[Anonymous No.11202481]

>>11202421
First point is still incorrect. Its 700+ tps PER user

[Anonymous No.11202554]

Seems best post ever, someone check the info alreqdy?

[Anonymous No.11202592]

>>11202421
Wow who would have thought.

[Anonymous No.11202676]

Nice copy paste job.
Point 6 you fucked up.

Nano has a bounty program, go earn some cash if its so riddled with bugs.
Face of nano is Colin LeMahieu, sure he isn't Vitalik level - but why talk about Tron after that?Justin Sun? pfft

[Anonymous No.11202677]

>>11202481
YEAH, Nano bro! While stupid Vitalik Buterin and his Russian SCAM COIN are working on one million tps, WE in NANO ALREADY HAVE IT!! If ONE BILLION Nano users would do transactions, WE COULD EASILY HAVE 700 TPS PER USER X ONE BILLION USERS = 700 BILLION TRANSACTIONS PER SECOND!!! BEAT THAT YOU FUCKING NANO FUDDERS!!!!

[Anonymous No.11202687]

It’s raiblocks you absolute fucking mongoloid

[Anonymous No.11202814]

>>11202468
I was in bitconnect and lost a ton of money, BUT NANO IS NOT BITCONNECT! After that I learned technical analysis and the how technical nano is and much more than rest of cryptos and how magnificent the community is! YOU UNDERSTAND NOTHING OF THAT AND YOUR FUD IS JUST A FUCKING BIG BUY SIGNAL!!!

[Anonymous No.11202866]

>>11202421
I was in bitconnect and lost a ton of money, BUT NANO IS NOT BITCONNECT! After that I learned technical analysis and the how technical nano is and much more than rest of cryptos and how magnificent the community is! YOU UNDERSTAND NOTHING OF THAT AND YOUR FUD IS JUST A FUCKING BIG BUY SIGNAL!!!

[Anonymous No.11202923]

>>11202421
Save it for the CROSS BURNING, ADOLF!! Are you the NAZI FAGGOT that made THESE FUCKING THREADS??
>>11194543
>>11194689

[Anonymous No.11203040]

>>11202421
ANSWER MY FUCKING QUESTION FAGGOT.

HOW MUCH DID YOU LOSE?

[Anonymous No.11203055]

OP lost money on bitconnect. Shows earlier or later hes losing in nano when i'm gonna dump it, ALL IN = Always losing.
Wake up. Nano is just another shitcoin. SIA rules the world soon!

[Anonymous No.11203107]

>>11202481
All your nodes is desync

[Anonymous No.11203197]

>>11203055

#>11203093

sia having trouble

[Anonymous No.11203247]

FUD

[Anonymous No.11203250]

>>11202421
Nano is a total disaster, the tech is garbage, made by one single mediocre guy that worked on the project part time, until a gang of Italian scammers did a bitconnect and later exit scammed with the nano devs, with tens of millions of dollars in their pockets.

The project never functions, this is the latest fo their usual node crashes, just a week ago: https://medium.com/nanocurrency/weekly-nano-update-9-17-18-834f3a493994

Former head of engineering at Facebook, Bryan Veloso: Nano "just a hype...no real use case"
https://www.quora.com/Is-the-NANO-crypto-coin-a-working-product-If-so-what-advantage-does-it-have-over-on-other-crypto-coins

They have insane legal problems:
>>11194543
>>11194689

As OP points out, tech, marketing, management is a trainwreck.

The Nano death cult, as always, has nothing but mudslinging and and lies. So pathetic and so predictable. Just have a look:

>>11202481
>First point is still incorrect. Its 700+ tps PER user
Your statement is completely insane and totally debunked by OPs documentation, most of it coming from Nano primary sources.

>>11202676
>Point 6 you fucked up. Nano has a bounty program, go earn some cash if its so riddled with bugs.
If you had read the post, you would have known that OP got banned from Nano subreddit, just for pointing out technical flaws and asking a few questions. What are the odds of him collecting the bounty?

>>11203055
>OP lost money on bitconnect
No, he has stated many times that he warned against Bitconnect as well as Nano.

Pic, Nano hodler getting assraped since January 2018, buying some more, while screaming "2 da MooOOOooon!!"

[Anonymous No.11203258]

another 5x soon it seems.

[Anonymous No.11203337]

This is a good comment:
you cant just create value out of nothing, the users make bitcoin worth something, all nano has is fleeting tech. there are hundreds of coins with tech better than nanos, and every new coin that comes out after it can have tech just as good if not better too.

the alt cycle is killing alts like nano every day, alts that never get traction because theres 20 new alts coming out every month, the speculators have no allegiance to alts like nano, and users just don't exist for temporary platforms like it.

and if that wasnt bad enough, nano has its own set of problems like a complete broken distribution abused by pajeets farming captchas getting millions of coins. nobody is going to treat nano as being a valuable coin, its just yet another play alt to pump and dump and then move onto the next thing.

there's no scarcity in these temporary alts, so long term their value is literally zero.
>>11203303

[Anonymous No.11203351]

This is a good comment:
you cant just create value out of nothing, the users make bitcoin worth something, all nano has is fleeting tech. there are hundreds of coins with tech better than nanos, and every new coin that comes out after it can have tech just as good if not better too.

the alt cycle is killing alts like nano every day, alts that never get traction because theres 20 new alts coming out every month, the speculators have no allegiance to alts like nano, and users just don't exist for temporary platforms like it.

and if that wasnt bad enough, nano has its own set of problems like a complete broken distribution abused by pajeets farming captchas getting millions of coins. nobody is going to treat nano as being a valuable coin, its just yet another play alt to pump and dump and then move onto the next thing.

there's no scarcity in these temporary alts, so long term their value is literally zero.
>>11203303

[Anonymous No.11203472]

>>11202421
Hello there, I am Zack Shapiro. Hope you Nano fans enjoyed me dumping my million heavy bags on your heads, while Nano was crashing, the very bags I got out from Bitgrail while you were stuck and tried to get your "KYC" from Bomber (lol). Take that as a lesson schmucks, don't listen to guys on the internet, like me, when doing financial decisions. Pic is me before you gave me my millions of $$. Aaaah, life is gooOOooOod. L'chaim!

[Anonymous No.11203512]

>>11203472
You can trust us Nano devs. lol. This is me 4 days before BitGrail exploded. Enough time for us Devs and our buddies to get all our own stuff out. We managed to move millions of our sexy Nannis out when BitGrail was down for "maintenance" and closed for you "normal" people, Bombers KYC bullshit, etc, i.e. idiots who are not insiders. Sucks to be you. lol. Peace out to all fellow Naniites!

[Anonymous No.11203529]

>>11203512
We were on the phones the whole day with bomber to get those 1.5 million Nano out, right before the "hack" and BitGrail was officially insolvent.
https://www.reddit.com/r/nanocurrency/comments/7xqxqu/500_thousand_nano_was_moved_today_out_of_one_of/duaj73z/

In addition I had to tweet like crazy to the small people, the ungrateful Nano "investors" that were pestering us all the time with their, *whiny voice* "I have 8.3 Nano and I am so worried Zack, please help me". Worst part living in America is dealing with white people. They will never be winners. And they lost. lol. Nano's lawyer, Josh Kleiman, pic, helped me a lot, to reach a deal with Bomber and later Espen Enger, the king of the bitgrail victim group (or sheep as we call them). Ha,ha,ha, they will never know what hit them...he..he..he..he.

[Anonymous No.11203531]

>>11203472
L'chaim! :)

[Anonymous No.11203536]

>>11203529
Too bad that the sheep found one of our 50 million dolllar wallets. Well, well, who cares, we reached a deal with Espen Enger that anything related to us Devs are OFF LIMIT, no matter how criminal and/or unethical.

[Anonymous No.11203557]

>>11203529
Too bad that the sheep found one of our 50 million dollar wallets. Well, well, who cares, we reached a deal with Espen Enger, the king of the bitgrail victims, that anything related to us Devs is OFF LIMIT, no matter how unethical or criminal.

[Anonymous No.11203566]

>>11203557
Don't be surprised if Espen Enger, pic, suddenly gets a really good and cushy job at Nano, as a big thank you for hiding all our inside trading, dirty deals with Bitgrail, close relationship with Bomber, and our immoral ability to get all our tens of millions the hell out off Bitgrail, while it was closed for everyone else, before Bitgrail was declared insolvent. Ha, ha, ha, life is GOOOOD!!

[Anonymous No.11203574]

>>11203566
You can trust us devs, lol.

[Anonymous No.11203598]

>>11203574
Please congratulate me and share my joy, I got married to a girl that you Nano loser goyim can't afford, so I and my friends dumped some of heavy bags on you schmucks one more time. Luckily we managed to pump the price real hard from 0.8 to 3.5 so we could scam..eh..advice... you schmucks one more time. Aaaah, life is gooOOooOod. L'chaim

[Anonymous No.11203614]

>>11203598
THANK YOU, Mr. Enger.

[Anonymous No.11203667]

>>11202468
so nano supporters are libtards essentially

[Anonymous No.11203841]

Nano post Bitgrail is THE worst and most nasty community in crypto.

Nano is Bitconnect 2.0

[Anonymous No.11204161]

>>11202421
TO ANYONE HATING NANO AND SPREADING FUD:
Sorry I don't jerk off to screen caps of rando crypto threads.
Believe whatever the fuck you want , when nano turns bullish again I am buying. This shit just works right now and we have the best fucking community in crypto and we got rid of ALL the bitgrail NORMIES that was just bitter and dragging us down for months.

[Anonymous No.11204315]

Pic, typical insane nano rumour, Bitconnect style.

[Anonymous No.11204357]

>>11202421
Nano marketing is the worst, Gary Coxxxon does not even get nude on YouTube, wtf!

[Anonymous No.11204470]

>>11203472
That's why I bought a german coin (Nimiq) instead of an israeli scam (Nano).

[Anonymous No.11204798]

no

[Anonymous No.11204829]

>>11202421
TO ANYONE HATING NANO AND SPREADING FUD:
Sorry I don't jerk off to screen caps of rando crypto threads.
Believe whatever the fuck you want , when nano turns bullish again I am buying. This shit just works right now and we have the best fucking community in crypto and we got rid of ALL the bitgrail NORMIES that was just bitter and dragging us down for months.

[Anonymous No.11204898]

>>11204315
you can check his twitter. he doesn't even carry USD anymore it's all in nano

[Anonymous No.11204925]

>>11204898
That is GREAT NEWS!! Where in twitter did he say that he has all in Nano?? Do you have the link or a screenshot!! We need it against those fucking FUDDERS that are saying we are lying all the time! THIS WILL SHOW THEM!! NANO NANO NANO NANO NANO NANO NANO NANO NANO

[Anonymous No.11205014]

Thanks. Just bought 100k nano

[Anonymous No.11205292]

>>11204898
Hey DUDE, when all the fudders calll us scammers and liars ALL the FUCKING TIME, then give us something REAL man, a screenshot, link or whatever, DON'T LET ME HANGING LIKE THIS MAN, not fair to us nanoboys!!! I am fighting full time for Nano after I lost my job and have heavy AND expensive bags in nano!! WE MUST FIGHT THE FUDDERS NANO BRO!! KEEP IT REAL AND GIVE US THE PICS OR LINKS!!!

[Anonymous No.11205622]

>>11202421
FAGGOT thats what u get for leaving money in shady exchanges tf wrong with u!! I really hope that some of you bitgrail FUDDERS really DID commit suicide to weed out all you weak stupid people!! NANO DOESNT NEED U!! all u do is harming the price of nano and attacking the MAGNIFICENT NANO DEV TEAM!! FUCK U BITGRAIL BITCHES!!! STAY THE HELL AWAY FROM NANO!!

[Anonymous No.11206131]

>>11202421
I could answer ALL UR FUD if I wanted to, but I DONT have any time to FUCKING WASTE ON U FUDDERS!!! I HAVE BETTER THINGS 2 DO!!

[Anonymous No.11206280]

Anyone with any sense knows that Nano is garbage. This thread is pointless.

[Anonymous No.11206742]

>>11202421
>>11206280
Please keep crying this pasta fud is getting funnier every day as nano leaves you and your shit coins in the dust. Actually being too retarded to spot a 95% dip , not buy it and then get autistically mad to the point of writing my angry projections onto the internet. LMFAO KEEP MISSING OUT BIZ LOL

[Anonymous No.11207430]

>>11203247
Typical member of the Nano community, rather than debunking or addressing the points in the OP all you have to say is 'FUD'

[Anonymous No.11207456]

>>11203258
this
/thread

[Anonymous No.11207900]

>>11202421
DIDN'T BOTHER TO READ ALL THE FUD BULLSHIT! This is going to be $100 EOY!! Guaranteed!! I am going to use some of the future gains and fuck some hookers and make them say NANO when I cum. I will be so high!! NANO NANO NANO!! NAAAAAANOOOOOOO!!!!

[Anonymous No.11208461]

>>11207900
Ugh, another retarded Nano community member, actually admitting to what we all know, you don't bother to read what has been written and don't debunk anything, just screaming 'FUD!' -_-

>>11203258
>>11207456

[Anonymous No.11208996]

>>11202421
Fuck you OP! Just bought a ton, waiting for all my gains at $100 EOY!!

[Anonymous No.11209373]

>>11208461
>missed btc
>missed eth
>missed neo

you're not gonna miss nano too right?

[Anonymous No.11209685]

>>11206280
All the FUCKING FUD against Nano lately is easy to understand, like they all want cheap Nanos lul

[Anonymous No.11210409]

>>11202421
Thanks OP, strong buy signal. Just bought another 100K. Sucks to be a bitgrail loser as you, while I am stacking up my heavy bags ready for the gains and I am comfy AF!! The rest of the community can't fucking stand you bitgrail whiners. Hope all of you commit suicide so we can finally have some peace in the community and focus on our future massive gains!!

[Anonymous No.11210927]

>>11202421
Oh look it's this guy again. Sorry you lost on bitgrail bud, just fomo in and cut your losses

[Anonymous No.11210938]

>>11207900
Checked

[Anonymous No.11210971]

There's only 5 or 6 project in the cryptosphere that aren't complete shit. How you mongoloids fall for obvious long-term scams is beyond me. You people are so fucking dumb. None of you have any technical knowledge. You literally buy things based on thread frequency on /biz/ and how much the memes make you laugh.

Fucking NPCs have taken over this board.

[Anonymous No.11211250]

>>11202421
>>11202423
>>11202429
>>11202432
>>11202437
>>11202445
>>11202468
>>11202677
>>11203250
>>11203351
>>11203472
>>11203512
>>11203529
>>11203557
>>11203566
>>11203574
>>11203598
>>11203614
>>11203841
>>11205292
>>11205622
>>11207900
imagine being one guy with multiple personality disorder so monumentally ass puckered about an imaginary internet coin