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That's because the largest exchange for it in the world stole hundreds of million of dollars from people and the value of it totally collapsed.

capableweb 5y ago
Haven't heard about that. Yet, the entire market is moving upwards, doesn't that prove the opposite? That the market can afford loosing smaller coins without impacting the larger market? When did this "steal" you mention happened anyway? Seems the price of nano been stable since this year, hovering around $4, unless you go all the way back to 2017.
- beebmam 5y ago
  It's not hard to find; check Wikipedia for the coin
  - capableweb 5y ago
    Since you're too lazy to actually contribute to the discussion, here is the part (I think) you're talking about: > On 9 February 2018, the Italian cryptocurrency exchange BitGrail announced its shutdown after being hacked. Where is the reference pointing to that the they stole it? The exchange had poor security, which is what they got sued for. The 2nd of January, the price of Nano was ~$33, by the 9th of February, the price had already dropped to ~$10. After that, the lowest price it went to was about ~$1. The price of Nano started to increase again and is now ~$6. I again fail to see how Nano is an example of being a "building block" (what is even built on Nano that is relatively popular?), how it is "outright fraud" or how this "collapse of Nano" (which again, seems to never have happened in the first place) caused a "crypto apocalypse".
    - EdwardDiego 5y ago
      https://www.coindesk.com/markets/2020/12/21/bitgrail-operator-may-have-hacked-own-exchange-to-steal-120m-police-allege/ https://www.coindesk.com/markets/2020/12/21/bitgrail-operato...
      - capableweb 5y ago
        Why do you people keep arguing against yourself? That very article says: > “It is not yet clear whether he participated actively in the theft or if he simply decided not to increase security measures after discovering it,” Ivano Gabrielli, director of the national centre for cyber crimes, said in Reuters' report. How does that prove anything? What's happening with HN users making baseless accusations? What happened with providing hard evidence to what you're stating?
        EdwardDiego 5y ago
        True, he probably didn't hack his own exchange. https://medium.com/@bitgrailvictims/the-bitgrail-exchange-ruling-a-win-for-cryptocurrency-exchange-users-50df6c383571 https://medium.com/@bitgrailvictims/the-bitgrail-exchange-ru...
  - Kiro 5y ago
    How is that a fault of Nano/Raiblocks and not BitGrail itself?

capableweb 5y ago

Haven't heard about that. Yet, the entire market is moving upwards, doesn't that prove the opposite? That the market can afford loosing smaller coins without impacting the larger market? When did this "steal" you mention happened anyway? Seems the price of nano been stable since this year, hovering around $4, unless you go all the way back to 2017.

beebmam 5y ago
It's not hard to find; check Wikipedia for the coin
- capableweb 5y ago
  Since you're too lazy to actually contribute to the discussion, here is the part (I think) you're talking about: > On 9 February 2018, the Italian cryptocurrency exchange BitGrail announced its shutdown after being hacked. Where is the reference pointing to that the they stole it? The exchange had poor security, which is what they got sued for. The 2nd of January, the price of Nano was ~$33, by the 9th of February, the price had already dropped to ~$10. After that, the lowest price it went to was about ~$1. The price of Nano started to increase again and is now ~$6. I again fail to see how Nano is an example of being a "building block" (what is even built on Nano that is relatively popular?), how it is "outright fraud" or how this "collapse of Nano" (which again, seems to never have happened in the first place) caused a "crypto apocalypse".
  - EdwardDiego 5y ago
    https://www.coindesk.com/markets/2020/12/21/bitgrail-operator-may-have-hacked-own-exchange-to-steal-120m-police-allege/ https://www.coindesk.com/markets/2020/12/21/bitgrail-operato...
    - capableweb 5y ago
      Why do you people keep arguing against yourself? That very article says: > “It is not yet clear whether he participated actively in the theft or if he simply decided not to increase security measures after discovering it,” Ivano Gabrielli, director of the national centre for cyber crimes, said in Reuters' report. How does that prove anything? What's happening with HN users making baseless accusations? What happened with providing hard evidence to what you're stating?
      - EdwardDiego 5y ago
        True, he probably didn't hack his own exchange. https://medium.com/@bitgrailvictims/the-bitgrail-exchange-ruling-a-win-for-cryptocurrency-exchange-users-50df6c383571 https://medium.com/@bitgrailvictims/the-bitgrail-exchange-ru...
- Kiro 5y ago
  How is that a fault of Nano/Raiblocks and not BitGrail itself?