By - NanoMod
Can anyone tell me pls as why we are trying get nano off Binance? I mean I have nano in Binance and that's where I trade them for USDT. So what's going on?
Having NANO within Binance means that your custodial wallets representative is Binance. So their power over the network is a representation of how much NANO people have purchased through Binance, and how much NANO reserve they have.
Once they reach 67% we have a real problem, which considering their holdings isn't outside the realm of possibility.
It's just important that we keep voting weight distributed between a wide number of nodes. That's all.
So I keep my nano in nault and only transfer to Binance only when I need some USDT? That should be fine right
That's what this community would recommend just to help the network, but if you need USDT often, it's probably not worth it for you to keep it outside of Binance.
But I will say this. If you don't own the keys to where your funds are located, you don't own the funds.
Nothing wrong with binance per se, just:
1) In general it's safer to keep crypto off of exchanges (you don't own the keys to your crypto wallet there, Binance does).
2) Nano transactions are voted on by representative nodes. If you have nano in binance, they will be counted towards whoever binance picks as its representative. If you have them in your own wallet you can assign it to a representative of your choosing. This helps decentralize nano's network and makes it more secure.
Most people here are probably talking about 2. In general it's good to not have a lot of nano concentrated in Binance.
so easy to earn nano with Counter Strike :DDDDD
Could we do another 'pay the fee to take your coins off Binance' giveaway? Where you show a transaction taking off Binance and we send 0.01 Nano to cover the fee?
Not your keys not your crypto!
Quick question - why do we tip 0.01337 instead of 0.01332?
I always tip .0133, rather than having an extra decimal place. Like this:
Efficient! thanks for the tip <3
^[Sent](https://nanocrawler.cc/explorer/block/5D6E2175B5678E5BEFA61579A72F1BC09D4F9306A832015E070EF88C30ECC00E) ^0.0133 ^Nano ^to ^(/u/BigBoi313) ^- [^(Nano Tipper)](https://github.com/danhitchcock/nano_tipper_z)
[*^(Nano)*](https://nano.org)*^( | )*
[*^(Nano Tipper)*](https://github.com/danhitchcock/nano_tipper_z)*^( | )*
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A good question for r/nanotrade since trade talk is not allowed here.
>is there any specific reason that it fell to some 4.8$?
oops, ill move my comment there, thanks!
On twitter the XNO logo is not sharp and looks unprofessional. I think the key is to resize the image before upload it as logo. I tried to test it as my profile picture and you can see there is a slight improvement.
Twitter compresses the shit out of it. There's an SVG logo here: https://xno.nano.org/images/xno-badge-blue.svg
As you can see it's functionally perfect. But converting and downscaling it compresses it so much it just ends up looking bad.
Coinmarketcap in 5th and nano.org in 6th position when I google "nano" in private with a new ip 👍
still, on Coinmarketcap you have to write "nano" to see it on the suggestion list. ["nan" is not enough](https://i.imgur.com/SVj0U8y.png)
I want to send a small amount of money to Montenegro from the Netherlands. Bank asks for 25 euros in fees. Absolutely insane.
nault says XNO now ?
US Dollar = USD = $
Nano = XNO = Ӿ
wallet address is still nano_
The NAME of the crypto has not changed. Just the way markets call it by ticker Ӿ/XNO.
coin marketcap showed a different currency , with different values
This change isn't automatic, and it's completely up to the services, like CoinMarketCap if they comply or not. Especially so with CMC, considering a coin _already_ has XNO as a ticker.
Yep, I'm trying to say that it's still Nano, just that the ticker symbol (for trading in foreign exchange markets) has changed to XNO.
You'd tell someone to pay you dollars, right, not ask them to give you USD?
yes , but have to be specific which country's dollar .
It's not owned by any country. Which is why it starts with X....
Read this; https://xno.nano.org
Is it weird that Elon Musks payment company, before merging with Peter Thiel's "Coinfinity" to become "Paypal", was called "**X**.com"?
And now Nano goes by the Ӿ symbol. Curious.
(Not to mention SpaceX, and his son's name 'X Æ A-12'). If anything, he really likes the letter X.
Also curious how he still completely ignores Nano despite constantly claiming that low latency and low fees are key for a cryptocurrency.
Ah, but he hasn't front run the market on Nano and bought up a ridiculous % of the supply... so there's nothing for him to game. Plus, no dogs.
FWIW I do think someone *like* Musk will step into Nano in a serious way in the not too distant future.
I cannot tell you how irresponsibly long I am on nano - it ticks ALL the boxes.
I can't agree more on your statement and predictions.
Many will be shocked by what will happen in a not so distant future.
Everything lays there in front of our eyes; I mean the tech and practical use cases.
Nano has no inflation, no fees, decentralized, and near instant transactions. Energy efficiency is a plus as well.
EDIT : no beg
And yet it is ignored by larger businesses that say they want the best for their costumers and the environment.
Hard to off-ramp to FIAT. Once it's easy to exchange FIAT 1:1 with NANO, with very little fees, and you can off-ramp to whatever crypto you want, NANO will explode.
You would be surprised how much those two things alone are holding people back.
Having a fast and feeless crypto is cool, but if it's difficult to get the FIAT you use every day, then what's the point? Ya'know?
I think if NANO ever hits the FX market, it's going to be a total gamechanger. Pretty sure almost overnight NANO will explode to ATH. People on the FX markets will be using NANO as a medium of exchange to cut out heavy fees between currencies, or as a way to combat inflation over time.
Purchasing USD/XNO and letting it sit until next fiscal year could save you between 2-5% inflation, depending on how the next year goes. Pretty damn good investment from there onwards.
I'm still wondering how they would go about the heavy volatility that is sure to follow a scenario you describe. Also curious to how they plan to get enough liquidity for such large volumes. Hmm dealing with Binance the best option? Unlikely the best option yet, desirable. It would be good for Binance to lose that weight. What if Binance wants to hold on to their stack and is reluctant to sell or only for a premium?
Im thinking the FX usecase will increase the volume gradually and in tandem with other large adopting services. It wont be a 0 to 100 thing thats for sure.
Everyone is __TERRIFIED__ of volatility in this space, and it's crazy. BTC settles in __10 minutes__. NANO settles in __3/10th's of a second__. Volatility doesn't mean as much, depending on how you complete your transactions. Additionally, with wide adoption NANO will reach stability.
Stop being so scared. You can literally send 5000000 NANO around the world before the ticker even updates the price...
> Also curious to how they plan to get enough liquidity for such large volumes
By accepting deposits.
> Hmm dealing with Binance the best option?
No. I hate dealing with Binance. I purchase XLM via Coinbase and eat the $2 fee just to avoid Binance, and use a CoinSwap to exchange XLM/NANO. Easiest way to get it, IMO.
> What if Binance wants to hold on to their stack and is reluctant to sell or only for a premium?
That's the risk you take with an exchange and a pretty big reason why everyone here hates them.
> Im thinking the FX usecase will increase the volume gradually and in tandem with other large adopting services. It wont be a 0 to 100 thing thats for sure.
I really think you're really underestimating NANO here. Assuming the FX exchanges offer a competitive fee structure, inserting NANO into FX transactions can save thousands in currency to currency transactions. It also gives you another way to complete transactions. For example, if you wanted to purchase a currency that the USA has poor relations with, you'll probably get a poor exchange rate. But by offering NANO instead of USD, you'll get a much better exchange value. Especially so if NANO is popular in that country and there is high demand for that exchange pair.
Oh you misunderstand. To me personally the volatility would be very good. I'm not scared lol I'm counting on it to happen wich it will regardless of my emotions. For businesses volatility is less interesting.
Look FX is an institutionalised market. They probably work with minimums and this likely will be catered to big businesses/volume. Your 10k$ isnt moving the needle and is neglegible. Big volume only.
Where can big volume players get nano? Ideally you would go to the biggest nano market(Binance) and buy offchain from there. Now that would be good. If Binance is willing to play ball that way. If they dont well it will be a blow to decentralisation.
Have you read my post history? I'm not underestimating nano at all. I'm trying to share my thoughts on what would be the most efficient way to get adoption. Not only trough the lens of a nanofan, but also trough the lens of a business trying to adopt nano.
It would be naieve to assume nano will be 0-100 the whole FX industry. The change will be fast yes, but probably over more than a few years. In the meanwhile heavy volatility is on the menu.
Think man. I'm a big european real estate company and I want to start multiple real estate projects in China. What do I need? Yens. How do I go from Euros to Yens using nano if I need to 400million euros to Yen? Theres no entity on the planet that can provide that liquidity. Now I want Nano to succeed to, and it will but these are questions big players will ask themselves no?
you should write those kind of post on nanotrade...
you would be pretty popular over there haha