Source
r/nanocurrency•
ArPak

Question regarding adoptation of NANO

Hi guys,

I Love Nano as much as you guys but Ive got a question. Nano is the crypto that bitcoin was envisioned to be, imo. Fast, secure and feeless. But the thing about crypto is its volatility.

How can Nano become adopted by the masses if its so volatile? Say one day I buy something with Nano for 1k using 100 Nano then the next day Nano's price rises and it costs 80 Nano to buy the same thing for 1k. Why would businesses adopt Nano when its so volatile.

Are there future plans in place to address this issue? This is really my main concern with Nano. Everything else looks great

Posted Mar 9, 2018, 9:17 AM UTC

1117
ThatBriandude•
  1. Accept amount of NANO currently worth your required USD price.
  2. Convert received NANO to USD
  3. Automate both processes
  4. Let your users experience the ease of nano
9
ArPakOP•

That means we need a nano to fiat pairing somewhere along the way eh? I guess thay would work

1
VadimH•

Give it time.

1
_Kristijan_•

Give it time.

If we start to laze, 1548 other cryptocurrencies are ready to take over. As soon as we have the target in scope, we have to pull the trigger.

2
_Kristijan_•

Yes, fiat pairing are essential. The goal must be, that you can setup your mobile wallet, to convert X amount of fiat to NANO automatically. NANO usage must be as simple as credit card, but cheaper and globaly accepted.

1
ThatBriandude•

You could convert to btc an then usd automatically

1
Hard_Celery•

Not really a concern of NANO specifically, the burden rests on exchanges to move to fiat instead of btc,

1
ArPakOP•

It hurts real adoptation tho... Why would businesses accept nano if their money today would be worth less tmr?

1
Hard_Celery•

They wouldn't and that is the problem with most cryptos. Most business's operate on a thin margin, and crypto market fluctuations could easily put them in the red. Also why would I spend Nano, etc when my CC is offering me 3+% cashback and other benefits.

Crypto is in its infancy, no real reason to use crypto over fiat currently.

Also why I don't get twitch users accepting nano being upvoted. Of course they'll accept free money.

2
dontlikecomputers•

Businesses will if they are prepared to hold the Nano for some time, almost no businesses want to hold money so that counts most out, but for those that do, they can use it. The other benefits of using a credit card are inciting to customers, but retailers can offer bigger discounts overall because there are no transaction costs.

1
Hard_Celery•

Most businesses can't afford to hold something on the chance it will pay off, not to mention my employees want cold hard cash, not nano.

No transactions costs for what? Nano? Sure but not enough retailers offer it and those that do aren't offering any discounts to make it more attractive than a cc.

1
bytor•

Stop asking this question. Volatility is a function of adoption. They go together. It's not something you can address without a central planner.

1†
ArPakOP•

So I cant ask questions that Im concerned with when Im looking to invest in a crypto? Wouldnt fiat/nano pairing solve the issue?

3
narwhale111•

No, not really. It would just help solve it on the merchant side. Nano would still be volatile as customers aren't looking to spend 20 nano on something that could be worth 15 the next day.

High volatility will be present until crypto is adopted by the masses. There are tons of advantages on the merchant and consumer side to support it now, but most won't support it until when there is more demand. As demand increases, adoption increases, and volatility decreases.

Look at bitcoin. Bitcoin has fiat pairings. Bitcoin is volatile. Bitcoin gets less volatile as the market grows and people adopt it.

3
Krak3rjak3r•

Definitely ask questions. Nothing wrong with that.

0
Copernikaus•

I'm pretty sure the devs don't want to grow too big too fast. If they can't work out the kinks on scalability in a proper time frame the coin might die.

Ergo, they are pacing themselves and not looking at 'value' right now. Smart move.

1
selfmademen•

O good way is have some stores where the goods are announced with the Nano price and get the prices changed only once a week/month/year/never.

0