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@RaoulGMI @RealVision – Raoul, this is a Tweetstorm directed solely at you. The other day, you asked your Twitter followers for altcoin recommendations, and (to nobody’s surprise) you were deluged with thousands of low-value shills. (1/33)
I decided to wait a few days before posting this, on the off chance that you might actually see this and read it. I am a nobody on Twitter, but in real life I’m a very successful crypto investor/trader, a Real Vision Plus subscriber, and a huge fan of yours. (2/33)
Without further ado, I would like to humbly offer you my investment thesis for $NANO. To begin, what is NANO? NANO is a cryptocurrency in the purest sense – NANO was designed to function as money. Money to pay for things and money to preserve the value of your labor. (3/33)
NANO’s mission statement is identical to what Satoshi originally intended for Bitcoin (peer to peer electronic cash) except NANO represents a leap forward in just about every important metric. Let’s break down what I mean by that. (4/33)
NANO is fast. Incredibly fast. Have you ever sent a Bitcoin transaction? How about Ethereum or Litecoin? Even on a good day, you will be waiting around for multiple minutes before you can visibly see that the transaction has arrived. (5/33)
On a bad day, a Bitcoin transaction can take hours to confirm. NANO, on the other hand, confirms transactions almost instantly. This is because NANO was designed as a block lattice instead of a traditional blockchain. Each user essentially has their own blockchain. (6/33)
There are no miners for NANO and there is no inflation. There are no wasteful proof-of-work farms consuming electricity to generate coins. All of the coins are fully distributed. When NANO was created back in 2015, it was freely given away to people via a captcha faucet. (7/33)
Over the long run, this lack of persistent sell pressure from miners will improve NANO’s function as a store of value. NANO will make everyone (rightfully) question why we need miners or inflation in the first place. (8/33)
There are no fees on NANO. Instead of requiring a fee, the NANO network requires a small amount of proof of work in order to approve the transaction. It’s not even noticeable and merely functions as a mechanism for preventing spam attacks. (9/33)
For any cryptocurrency to truly dominate and compete against Venmo/Paypal/etc, users will not want to deal with fees. Over the long run, high fees will push people away from using crypto networks, while nonexistent fees will draw them in. It’s all about user experience… (10/33)
NANO has multiple fantastic wallets available for Android and iPhone, all designed by 3rd party developers from the community. Natrium is a fantastic wallet that allows you to store your friends’ addresses, scan or send QR codes, all with lightning fast and free transactions /11
As a crypto user with over seven years of experience, I can tell you I have never seen a crypto-related user experience that can compete with using Natrium to send and receive NANO. (12/33)
WeNano is a newer app that functions as a wallet and also allows users to create “hotspots” that can grant free NANO to others based on geographic location. Think of geocaching or Pokemon Go but with crypto. (13/33)
WeNano has already exploded in use worldwide and is especially popular in 3rd world countries where alternative currencies are needed most. (14/33)
Just a few days ago yet another NANO wallet was announced called Kaiak. It’s designed to use KaiOS, which is the second largest mobile phone operating system in India (after Android). (15/33)
Yet again, another innovative piece of software developed by a third party from the community. How many other coins outside of the top 10 are attracting this sort of development? How many of them are actually usable for commerce right now? (16/33)
OK, enough about wallets. Let’s talk dollars. NANO experienced a blistering bull run at the end of 2017, surging from under $1 to about $35 within a month. I was there for the entire ordeal. (17/33)
Everyone just learned about NANO for the first time and said “Holy shit, if this is the next Bitcoin I don’t want to miss it.” The bull market ended shortly thereafter, and NANO experienced a massive decline of nearly 99% over the next couple of years. (18/33)
But things have begun to change. NANO bottomed out with the rest of the crypto space, went through a healthy accumulation phase, and has since begun showing signs of life yet again. (19/33)
After reaching a low of under 40 cents in March 2020 and finding stable support around $1, the price launched higher earlier this month briefly touching $5. (20/33)
The price is currently stabilizing around the $3 level. To reach its previous all time high would imply a 10x move from here. If it were to reach price discovery…well, use your imagination. There is significant upside. (21/33)
Many luminaries in the crypto space are aware of NANO due to the 15 minutes of fame it had in 2017, when its spectacular run captured everyone’s attention. (22/33)
But if you ask our industry’s so-called “thought leaders” what they think of NANO, most will tell you it’s another shitcoin undeserving of your time. “Nobody uses it. It’s just a bunch of bots on Twitter.” (23/33)
Maybe the reason they won’t even look at NANO is because they don’t have a VC allocation, so there’s nothing in it for them. Maybe they are just cynical and tired from all the crypto scams out there. (24/33)
“You call it a shitcoin, I want to know about it.” For the investor who is willing to think for him/herself, I would implore you to take a close look at NANO. Download Natrium onto your iPhone and check it out for yourself. (25/33)
DM me and I’ll send you free NANO for you to try sending around to your friends. Stop by the Reddit (r/nanocurrency) and see the active discussion that happens there every day. (26/33)
I believe NANO is following the same adoption curve that many other coins have followed in the past. You eloquently illustrated this by comparing the ETH price chart to the BTC price chart set back a few years. “They are all the same.” (27/33)
NANO has an enthusiastic user base that grows by the day, all NANO needs to succeed is time. NANO’s technology and user experience represents a leap forward over the current incumbents. Will Bitcoin’s first mover advantage be enough? (28/33)
Maybe, but NANO doesn’t need to beat Bitcoin to deliver value. It just needs to beat Litecoin, Bitcoin Cash, and the other clones that add very little value. (29/33)
To recap, my investment thesis for NANO… 1) great user experience, good enough to make people say “wow” after they give it a try. 2) Enthusiastic (almost cult-like) community of supporters with a rapidly growing user base. (30/33)
Coins with a “cult” following tend to perform best. 3) Significant price upside, it’s still very early days. Price would need to 10x to reach previous USD all time high. I believe it will exceed those levels in due time. (31/33)
NANO could also use someone like you, Raoul, who has a lot of visibility. You can look people in the face and say “I’ve tried NANO, it’s pretty neat. It’s actually not a shitcoin.” (32/33)
With or without you along for the ride, I submit that NANO will eventually find its rightful place in the ecosystem. If you have read this far, thank you for your time, and thank you for everything you do for the Real Vision investor community.! /end
CC: @moonshilla @TheCryptoDog @WeNanoApp @notsofast @SatoshiLite @NatriumIO @jespow @cz_binance @kevinrose Just adding a few others that may have interest
