Nano which was formerly Raiblocks made an unbelievable parabolic ascent back in Dec 2017. It caught my attention and I did take a position at the time because I was impressed with the white paper and the tech. It is a Directed Acyclic Graph (DAG) coin. Transactions are free and instant.
A very interesting fact about Nano is the entire supply is already in existence. There are no miners collecting rewards who have to sell to recoup expenses. So there is essentially no new inflation making this situation intriguing.
I'm not big on chart technicals especially on a short term but when I see a long term chart that has completed it's death spiral that is something I take note of.
There will still likely be a long drawn out period with Nano where it flat lines for awhile unless the whole crypto market pumps hard. I bought into Digibyte when I spotted this same high level pattern last winter at $0.012 and it pumped to around $0.10 which was nice.
Bitcoin on the other hand still hasn't completed it's decent if it is going to follow the normal sell off pattern we saw with these two situations. I'm not saying I hope it does. It would be great if it stabilized and everything kicked back to life and we saw some great increases heading into the second half of the year.
Personally I feel it is 50/50 that Bitcoin stabilized here and hopefully starts to go up again or it gets crushed and goes down to something stupid like $3,500 or $2,000 or something completing the cookie cutter boom / bust pattern.
Again guys I don't want to see things get crushed further than it has been now but it could get nastier for sure. It won't be fun at all.
In the typical pattern we will see volumes go down, people get pressed out, and things flat line.
Positives of Nano
- New mobile, desktop, and web wallets. https://nano.org
- Free and Instant transactions.
- No inflation or additional coins minted into existence.
- Completed it's death spiral crash
- Listed on Binance which is the largest exchange in the world.
Negatives of Nano
- Mainly on Altcoin exchanges that don't have fiat parings.
- Potentially just another coin with the rest of the coins that are mainly just speculation.
- Main function is just a transactional currency. Tough to gain adoption amount the rest out there.
- 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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