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The original was posted on /r/nanocurrency by /u/presuasion on 2024-01-29 21:24:44.

Near instant. Feeless.

These are some of the most common phrases people hear about Nano. Nothing is a lie or misleading with them. However, there are still many that seem to show no interest in a network with such features, yet favor networks that clearly are not instant and have fees.

I think some people are thinking “what’s the catch?”

An analogy came to mind recently using streaming services like Netflix to compare general fee costs for crypto:, let’s say you have Bitcoin Netflix, where you have to pay $20/month for it. It’s a bit slow, but overall works. The monthly subscription has already shown to increase over time. Also uses a lot of unnecessary energy to transmit the streaming service to people around the world. Then there’s crypto Xyz Netflix, which forked from Bitcoin Netflix and offers largely the same product, but for only $3 a month. Sounds like a good deal, in fact some people may be already thinking “what’s the catch” due to the price difference.

Then you have Nano Netflix, which is free, faster streaming, no ads and, while doesn’t have all the smart contract offerings that are largely solutions looking for problems today, is an overall better offering at the price of free. And on top of that, it doesn’t take the energy usage of small countries to “stream” out into the world.

But “what’s the catch”, many people may be thinking. It sounds too good to be true. In actual streaming services, you may think that customer service is abysmal and hence the drop in price, but of course that doesn’t apply to our crypto examples here. Or perhaps the product is false advertising, which again can be clearly checked by simply trying out the product. No credit card required.

Do people just not believe this is possible? Have we been conditioned to believe that when it comes to crypto, we must pay fees to a middle man, just like when going through the traditional banking sector? Yes cryptos like Bitcoin have shown to be much faster than legacy banking services, but there are still middle men making a cut off people in the form of fees, when the Nano network has already shown that this is not necessary to secure a decentralized crypto network.