The Nano Mindset
Objective: When this next Bitcoin bubble bursts. As it surely will.
Nano users should refuse to sell for fiat. And hold true to the vision that one day they will spend their Nano.
This is not just a HODL mentality, but a philosophical statement to the purpose and utility of our network and the community that surrounds it.
Let me explain:
Philosophy: Bitcoin has been anointed by experts and investors to be the digital currency of the 21st century. And is currently the leading cryptocurrency in the world. Bitcoin brought blockchain technology to the market and it disrupted many components of our financial system. But alongside this monumental rise of Bitcoin is a growing dissatisfaction within current state of cryptocurrency.
This dissatisfaction is born out of the reality that as of 2021, 12+ years into the crypto-experiment: Bitcoin is now being marketed as a decentralized system of digital scarcity (akin to gold) with little to no transferability for the average human. With transaction fees currently as high as $25 (and only expected to increase). And with energy costs exceeding the size of entire countries (and only expected to increase) and transaction times exceeding 1 hour (and only expected to increase). Many individuals are excluded from the Bitcoin network as result of the country they are born in and the disadvantaged economic systems they inhabit.
With 1/3 of the world making as little $2 dollars a day and primarily operating in a transactional sense, i.e. using that earned $2 for rent, food, etc. Bitcoin has little value to the majority of the planet in any utilitarian sense. Value storage has obvious utility of course, which Bitcoin accomplishes…
BUT combined value storage and transferability should be the defining feature of the leading digital currency.
It is becoming increasingly clear that Bitcoin’s main function is to not to move money in any economic sense, but to sequester the world’s wealth into speculative pockets of immobile and expensive jail cells for the 1%.
Systems like the lightning network promise to solve Bitcoin’s transactional issues, but it is becoming increasingly clear that Bitcoin’s scalability issues will not be solved by fine tuning a new “2nd layer”, but that these fundamental issues exist at the base layer of Bitcoin itself.
Finally, as direct result of bitcoin’s inefficiencies to act as transferable currency for everyday purchases. It exacerbates the generation of bubbles/crashes. This is because Bitcoins value is directly tied the utility of a legitimately transferable currency(USD,YEN,etc), meaning Bitcoin’s value is derived from its ability to be sold for fiat. In order for Bitcoin to have value, you must be able to escape from the network into a more transferable value system that people accept. So as a result, Bitcoin generates unstable bubbles that is a direct result of its inefficiencies in its protocol to function in transactional way. Additionally Bit-coiners no longer have the shared vision to make Bitcoin a currency , so now its simply a system of value storage.
If a system could function both in transactional and value storage sense, the need to “escape” the value network would decrease and a more vibrant ecosystem of commerce could feasible scale alongside it and within it. And while this new finite digital currency would still have deflationary properties, it could feasibly not have the “escape” mentality into fiat that currently plagues value systems like Bitcoin. Essentially if Bitcoin wasn’t limited by its own protocol by inherent flaws, it would be more stable as each item/service purchased with BTC instead of being sold for fiat, would be value that is preserved within the network. Leading to a more valuable and stable asset.
In summary: In the eyes of many crypto-enthusiasts Bitcoin’s vision of becoming a peer to peer cash system has demonstrably failed, leading to wide spread dissatisfaction.
Out of this dissatisfaction is the emergence of novel systems of decentralized blockchains called:
“Alt-coins”
These altcoins number in the 1000s, each offering their own unique selling point.
Yet, even in spite of these mounting problems, Bitcoin has still dominated the crypto market.
As result:
When Bitcoin rises. Altcoins rise.
When Bitcoin crashes. Altcoins fall.
This direct connection/correlation is born out of the idea that many of these altcoins seek to coexist alongside Bitcoin, therefore a declining Bitcoin market cap inhibits growth of the whole system. In addition, many altcoins do not seek to compete with Bitcoin directly as a value storage/transfer network, and exist to be new emergent mechanisms of decentralized finance in addition to many other unique coin specific use cases.
With that said, there are many other coins that seek to directly replace Bitcoin as the default method of value storage and transfer.
Nano is one of many such currencies that seeks to confront Bitcoin directly. Nano users aspire to create a system that prioritizes BOTH value storage and transfer while maintaining decentralization. Thus, Nano seeks to be a new global base layer of digital value that by design is as accessible/transferable as possible while minimizing energy costs in the process.
As a result, Nano is designed to be fee-less and fast as possible. Increasing accessibility and efficiency as a true currency.
Many Nano users believe that Bitcoin will ultimately fail, and by default there must be a new more efficient digital value consensus formed. Nano wants to build a transactional economy on top of the Nano protocol, and not be a merely be a lockbox of potential wealth (although Nano is also a lockbox of wealth as well). Nano seeks to release the potential of any invested wealth through transactions.
While the Nano community is currently in the early stages of establishing a transactional economy on top of itself. It is the communities shared vision that the dominating decentralized network of value should be both efficient at value transfer and value storage.
Because of this vision that is shared by both the developers of Nano and the community at large, I propose a simple strategy to achieve our goals: The Nano Mindset
Objective:
When this next Bitcoin bubble bursts. As it surely will
Nano users should refuse to sell for fiat.
As stated previously Bitcoin bubbles burst because people know intuitively that their money likely has more utility in cash. This escape from the Bitcoin value network has cascading effects on all crypto’s. But Nano users are uniquely cohesive as a community and in our enthusiasm for what we seek to create and this simple adoption of a shared mindset could hold the key to creating an entirely new paradigm in crypto.
Nano users largely do not hold BTC. And due to the divergence in philosophical goals of the two networks, it no longer seems logical for systems like Nano to be dictated by the daily movements of a now outdated, immoral, & inefficient technology. Especially a technology that frequently seeks to escape into currencies that offer more real world utility, more efficient currencies potentially like Nano.
After witnessing the GameStop stock rebellion, Tesla stock skyrocketing in recent years, and the very emergence of systems like Bitcoin and Nano it is now my belief that:
Value itself largely comes from a shared vision of the future.
Value comes from the community forming consensus around an asset, and that new value consensus has the ability to break through the constraints of any market condition and can reshape the world. When you combine that shared vision with legitimate utility, it can create a feedback loop that is virtually unstoppable. The problem with the Gamestop phenomenon however was that the underlying utility was to initiate a short-squeeze/punish hedge funds, to gain cash. So the Gamestop asset (like Bitcoin) was purely a mechanism to achieve more fiat. You can’t pay for rent with Gamestop stock, so its value is tied into the underlying currency and Gamestop stock crashed. But with a viable transactional currency however, value can placed inside and if value can be maintained within the asset network (using crypto to buy things) it will stabilize according to it’s underlying utility.
But in order accomplish a shift in value, there must be first shared vision of the future which kickstarts everything.
Therefore, united by our shared vision of what a decentralized store of value should be:
1) efficient at storage
2) efficient at transactions
We must come together as a community around a new mindset of what is possible. As we build the Nano economic ecosystem we must first decouple from Bitcoin’s influence and adopt what I call the.
The Nano Mindset:
We don’t sell for fiat. We have more potential utility then fiat.
So essentially Nano adopters will refuse to sell if the Bitcoin declines significantly and initiates another “crypto recession” into fiat.
This would go against all crypto market logic, and would forever decouple Nano and other crypto-currencies from the weight of Bitcoin.
In order to establish our own value system. We will decouple from Bitcoin’s value system which is based on a speculative value storage for later distribution into fiat. Nano’s goal is not to be that. Bitcoiner’s say that is not their goal with BTC either, but the very nature of their inefficient protocol ensures a never ending flight of money between Bitcoin and fiat because BTC is unusable as currency. Our value system is based on creating a useable currency , not distributing profit into a more utilitarian/transferable currency, because Nano can more feasibly develop into that utilitarian/transferable currency (while also having equal store of value properties as Bitcoin). This reduces our need to sell, because unlike Bitcoin, each Nano unit has greater potential utility for transactional purchases in the future. With Nano a more transactional future is actual feasible, unlike Bitcoin in which each investment you make into BTC goes into a coin that will inevitably decease in utility over time(more fees, longer wait times, more energy costs etc).
We fully expect Bitcoin’s decline to some extent in the near future. Nano users know it is likely inevitable, its why many have joined this specific community. Bitcoin will reach it’s limit of utility or the limit of speculative interest. And as stated earlier: Bitcoin’s decline will be largely be because it lacks true transactional utility and lacks the potential usefulness as a currency at a protocol level.
It is our expectation that Nano with this new community driven mindset will seek to be a new safe haven of dissatisfied Bitcoin/Crypto users and for people who seek the most efficient systems of storage and transfer. And by joining and participating in the Nano economy, you will be joining a community that’s ultimate goal is to be a more stable useable currency. Not a speculative commodity that you will have to escape every 3-year cycle in order preserve transactional utility elsewhere. When you buy Nano, the ultimate goal is to one day use Nano to purchase. Therefore preserving the value within the network creating a stabilizing effect that Bitcoin cannot have.
Additionally, this community will not redefine itself halfway through the mission to justify its own existence. Instead the Nano community will continue to define itself by what it aspires to be: a currency. And the community will continue to help build on-top of Nano a mechanism that ensures Nano’s utility as a currency remains as efficient and as cheap as possible.
But as a community we will seek to be a what Bitcoin’s original white paper defined as a:
Peer-to-Peer Electronic Value System
So in summary, I call onto the Nano community to manifest their own value of Nano network that is completely and utterly independent of Bitcoin. Don’t pay attention to their price, dissociate from their influence completely.
Decouple from the mindset that Bitcoin’s success dictates our success. Or that Bitcoin’s failure dictates our failure.
So that when that moment comes when Bitcoin inevitably declines, and it’s users flock to something with more utility, and Nano keeps pushing forward. People will see, and understand immediately that Nano’s value is truly independent of the rest of the market.
And in that moment, with Nano continuing forward. People will realize again that value can be manifested by a shared vision around potential utility.
So at the end of the day why sell? Why turn Nano into fiat? Why sell when we actually have a shared vision that Nano has the utility and potential to accomplish what fiat does and more. While Bitcoin increasingly can’t say that, so let them sell BTC for currencies with utility.
We don’t do that.
Fuck that.
Sell Nano for currency with utility?
Nano already is a currency with utility.
At a certain point you must take a leap of faith and believe that this an actual currency and make a step in a new direction and do what other cryptocurrency projects fail to do.
This is the Nano Mindset.
That is how we win.
