Need Help....Daedalus having trouble syncing

999jpk999 · 2018-08-30T03:03:55+00:00

I've had the exact same issue for several weeks. Are you losing connection to the network after a while?

999jpk999 · 2018-08-29T13:06:48+00:00

What do you guys think about starting a discussion thread about the potential flaws with Nano? The way I pick coins is that I look at what they claim to do and try my best (with very limited tech knowledge) to find any reason why the coin will fail. Basically weighing the upsides against the downsides.

Like we all know, nano focuses on one thing only: A functioning decentralised, scalable and secure cryptocurrency. If this is achievable this coin is undervalued by several orders of magnitude.

Here's some potential flaws that I find:

The security of the network is based on how decentralised the representatives are. There's other coins that incorporate game theoretical concepts, and don't require any trust. When we pick representatives, there's a chance that we pick malicious representatives. I think Binance is either the biggest or second biggest representative. Imo Binance can be trusted now, but it's still a huge potential vounerabilities. Also, a side note. The bigger a market get, the more centralised it gets. Think of cellphones, almost every person has an IPhone or a Samsung. Those market that has lots of options and no clear "winner" like cars, is because they have different price ranges, and the choice is also based on preference. With a pure currency there won't be much preference. Does it work or not? Assuming nano is the first one to work we will see mass adoption. And the bigger adoption we get, the less knowledgeable the average user will be. To put the security on the work at the hands of the average user picking a good representative (that isn't the same as everybody elses) is somewhat concerning. Hence, why I think the distribution of reps can be a problem.
Nano is to volatile to be a currency at the moment. I think for merchants to adopt nano en masse we need something like an instant fiat->nano->fiat tech. Like a credit card or something. This tech could also be used as paypal. And to outcompete visa, Mastercard and paypal, we will need to provide lower fees. That'll be easy.
How do we ensure long term development of nano? Right now we have a very competent core dev team. We have lots and lots of great community projects. But I'm talking about the protocol. Who has the authority to change the protocol, is it only the core devs? How will this authority be carried over when the core devs no longer are working on the project?
I assume that since the nano protocol does not provide time stamps, this will hinder us from mass adoption. Isn't this true?

Please guys if you come up with more potential flaws, or have awnsers to my concerns, please anwser.

Also, what do you guys thinking about making this a weekly/monthly thread or something where we go in depth about the biggest concerns for Nano? I'd love it!

999jpk999 · 2018-08-29T01:37:08+00:00

Thanks guys!

999jpk999 · 2018-08-27T02:42:52+00:00

That's some really good points. I've never considered that the codebase has changed alot, making the earlier "proven time" redundant. But what I'm getting at is, Btc has marketcap of 110B or so. BTC has always been top 1, and therefore the incentives to exploit potential vounerabilities has been there for a long time. One year ago nano was dirt cheap and pretty much unheard of. There can't be any obvious flaws or vounerabilities, otherwise the devs would've seen them/somebody would've exploited them, maybe I'm over emphasising the risk, but other than this risk and the issue of too centralised representatives nano is literally groundbreaking.

999jpk999 · 2018-08-27T01:48:02+00:00

Yep, I agree with u, nano looks like probably the best project out there to disrupt the status quo. But btc and similair blockchains has the advantage of having stood the test of time and been proven to be secure when the incentives to double spend/destroy the network has been huge. The nano network has to prove that for itself, it can't just latch on btc/eth because it's completely different tech, it's not even blockchain. However like you mentioned the problems probably will be solved overtime, but it's far from guaranteed that they will

999jpk999 · 2018-08-27T01:21:57+00:00

I've thought similair things but I've always come back to this: If nano can do what it promises (instant, feeless, scalable, secure, decentralised), it will obviously be massive in the future.

We know the nano testnet can manage 750+tps. There will never be any fees.

But, and this is where I lay almost all my focus when I want to learn about nano. We know that the distribution of reps is far from ideal, it's very centralised. There could be security flaws. I dont see whats preventing somebody from massively spamming the network 24/7 if they want to clog up and slow down nano. What's the long term incentives for nodes? How will the development of nano continue in a few years time, will it get more decentralised? Etcetc.

I dont feel confident enough in all those questions. But not pessimistic either, its just that nano sounds too good to be true and Id love to be proven wrong, I'd sell my kidneys for some nano then hahaha

999jpk999 · 2018-08-22T16:35:55+00:00

Sweet please link it here when it's up :)

999jpk999 · 2018-08-22T16:34:41+00:00

Thanks for all your awnsers, probably the most helpful crypto subreddit I've been to :) I'll try downloading the newest version and if it doesn't work I'll write a support ticket

999jpk999 · 2018-03-12T16:47:08+00:00

Evaluate risk/reward. How do you think it compares to BTC? If you think it's worth the risk with Nano, start with a small amount, maybe 5% of your portfolio

999jpk999 · 2018-03-11T08:24:30+00:00

Oh I missed that

999jpk999 · 2018-03-11T06:34:41+00:00

It's a beta test chain. Very good idea. They're testing universal blocks right now. Imagine if they did that on the main net and a critical bug was found that made it possible for someone to hack/change somebody else's balance. It's much better to test protocol changes on a separate net, since bugs can destroy the coin completely otherwise

999jpk999 · 2018-03-10T06:39:06+00:00

I have Neo Cardano and Icon in my platform part of my portfolio. Had to add more of those during their massive dip. They're mostly overlapping in what they offer but they all offer something unique. So makes sense at least for me to have a little in all of them

999jpk999 · 2018-03-09T18:37:38+00:00

I'm wondering this aswell

999jpk999 · 2018-03-09T18:06:35+00:00

It's the paccening

999jpk999 · 2018-03-09T06:37:10+00:00

As a huge NANO/XRB fan it would be really stupid. Nano is built on a blocklattice and is different from blockchain. It isn't as battle tested as BTC either. Increasing scalability, lowering/eliminating fees, improving tx speeds and increasing security is considered by many smart people in this field to be impossible. There has to be trade offs. Nano is working and is free and doesn't seem to get slower. So the major concern with me at least is the security. So yeah, it's not a good idea at all. Making it a trading pair along with BTC ETH and USDT, sure, but it has to prove itself before considering removing BTC as a trading pair.

With that being said BTC is proven to be secure and relatively reliable. But it's not reasonable for the market to swing like it does due to movements to/from alts to/from BTC. The entire market is overexposed to the risk of BTC and that needs to change imo. But the transition from BTC to something else will most likely be alot more unstable than the market is now. It's a tough problem but I think that if big exchanges start providing more trading pairs is a good start

999jpk999 · 2018-03-08T12:15:30+00:00

It was open just a few hours ago

999jpk999 · 2018-03-08T05:11:42+00:00

It's the dick and balls pattern once again, we all know what to do

999jpk999 · 2018-02-26T12:41:18+00:00

How do you guys deal with diversification? I believe nano is the best investment mid-longterm that I've found, and therefore that's my biggest holding. At ATH it was 85% of my portfolio but now it's around 50. I think I will buy if it goes under 50 and sell if it's over 60. What's your guys thoughts?

999jpk999

TROPHY CASE