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RE: Bitfinex, Blockchain Hacks, and Replay Attacks Oh My - All Things that Steem’s Technology is designed to prevent.
Crypto currencies are supposed to offers us two things: security and freedom. security by using decentrelised blockchains and freedom by offering us instant payment all over the world. If we lose these advantages then the hole point of crypto is nonsense. Bitcoin and Etherum would have been more stable and secure if they followed to implement the features given above. Steem did it the right way and this is why I believe in the Steem technology.
Thank you for your time sharing this @dantheman
I think the bank analogy makes more sense when applied to the exchanges, not the Bitcon protocol itself. It's up to these services to implement the sort of security features Steem uses, and make sure they use cold storage which can't be accessed through hacking them. The hard fork issue is a direct fault of the protocol, however.
That's why Steemit is brilliant. It places the safe bank-like protocols within the cryptocurrency, so that an exchange may not even be needed.
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I believe in Steem, and I think Crypto is something more then money, it is the new type of social organization:
https://steemit.com/blockchain/@soomrack/bitcoin-blockchain-steem-middlesociety-and-math-management
nice post, @dantheman
upvote done