RE: Warning: The Dangers of Exposing Your wealth on steemit , online and other Crypto platforms
I would like to slightly disagree with you on the point you raised about the steemit wallet. To minimize theft, If someone on steemit has some specific amount of SBD or STEEM in his or her steemit account wallet, the steem blockchain allows users to store their SBD and STEEM tokens in the savings account. When the funds are in the savings account, they may only be withdrawn after a 3 day waiting period. When it comes to steem power, the STEEM that is held in the 13 week vesting schedule can only be withdrawn at the rate of 1/13 per week, that is after a waiting period of 7 days or rather 1 week. The time-locks prevent the thief or attacker from having access to the full portion of a user's funds immediately. This way the account owner has time to retake/regain their account before all funds can be withdrawn. Unfortunately i noticed a few people use the savings account sections. I also think the openness in the steemit wallet encourages honesty and trust which discourages scamming . With the issue of asking for upvotes, the flag is just a few clicks away :)
Good point however you are out of point with regard to the post. The post is about exposing your wealth to the world. If all your friends and family members including neighbors are on steemit and knows your account, will you be happy for all to know how you withdraw money, how much you have or dont have? many people judge people here according to how heavy their wallet is so having option to hide it will be a good idea.
You don't understand the point. Anyone that wants to take money from a steemit wallet, must make that theft in broad daylight. You obviously do not understand the blockchain and should probably do some research regarding it. This transparency IS THE SECURITY of the platform.
Good point, I agree with you and know about the important aspect of the security. However my point lies on the ability to hide your account from preying eyes which is a valid point too.
No. No its not. You shouldn't really writing on this subject. You obviously don't understand how blockchain works and why.
Good point, however in blockchain criminals are anonymous steal in broad day light, because they can be anonymous ie use a wallet address with any name ...Lol a scammer can even use your name and pic hahhaa and later abandon the account. Scammers have used Kingcrrown to scam me via steemit wallet however I noticed double r however the same scammer succeeded in scamming many people after seeing their wallets. Transparency is good however there is also downside to it.
Your wife in a trunk of a car is a flaw to this transparency.
The system slows the process down, but if you are forced to transfer your money to another, anonymous system, you will, and everyone will simply see your operation, not one of the criminal.
Okay, you guys clearly just don't understand it. Good day.
I don't understand what? In what way does the blockchain protect me and my close ones from being threatened by someone, who will do this on the basis of transparently visible information? In what way adding delays to resources withdrawal stops the good old fashioned blackmail that will force me to withdraw them out of scope of control? What am I missing here that would make it not look the way I'm seeing it?
Have you actually tried addressing my point or are you simply bragging about how awesome the algorithms are, when isolated from the real world application and people?