How much do you care about YOUR crypto?

LeoFinance
9 days ago
(edited)
3 Min Read
514 Words

Where is your backup?

In crypto world, the only one who is responsible for your crypto fund's safety & security - is YOURSELF.

This is very important to understand. In most (all?) coins, who ever holds the PRIVATE KEYS - is owning these crypto coins. NO exceptions.
If keys are not in your possession (like in all the exchanges) - all you have is nothing more but promises.
PROMISSES.
Which may be fulfilled, or may be NOT.

With Hive (Steem, Leo, DEC, SIM, BRO, Blurt) it is slightly different.
Coins are on the blockchain, and you control them with your ACTIVE key.

But "active key" is not the TOP level. If your account gets compromised, only the liquid coins can be stolen instantly.
Those which are staked - need some time to be unstaked (power-down). Time to take contra-measures.

If owner/master password is compromised, first thing hacker will do is changing all you private keys.

But is the GAME OVER then?

Not at all. We still have a clever solution. The recovery account.
With help of which you still can get your account back, so can get the unstaked coins.

The key thing here is - how much do you TRUST your recovery account?
Or... do you care at all?

doyourcare.jpg

Many of us, who started our journey back in Steemit, had their recovery account as "steem".

We all know, what happened to Steem/Steemit. We know, or at least have heard of Justin Sun.
So maybe you want to say, that you still trust all your Hive, LEO and other second layer tokens to Justin???

Seriously?

Well, it is you right, your decision. I can not force you to do anything.

But...
So is my right to decide, to whom I want to distribute the new LEO and HIVE coins in the curation process, coins from the reward pool.

And let me be here maximally clear:

I DO NOT WANT my curation reward coins be received by those authors, who do not care enough about their own crypto security.

So, starting from December-16, 30 days from now, - I will refuse to upvote those accounts, who will still have "steem" as their recovery account. I will better direct those rewards to somebody else, to those, who care more.
(I've set new start day, as transfer to new recovery takes 30 days to become valid)

How can you find your recovery account?
It's easy. Go to https://hiveblocks.com/@your_hive_name
On the left side column, around 1/3 from the top, you will see something like this:

doyousteem.png

I will not go into details now, how to change the recovery. This is not the subj of this post. In fact, I have seen numerous posts on this in the last 6 month. DYOR.

This morning I have made a quick check on the LEO rich-list holders.
Surprisingly, in the TOP-20 of this list I have found 4 (four!) accounts which still have "steem" as their recovery.

OK, good luck in trusting Justin.
But please please, do not expect support from me.

@onealfa

Posted Using LeoFinance Beta