EOS can Freeze your Money, This Suck Really!
Having money sitting on EOS is the same shit of letting money in a bank account trusted by your security number!
Source: https://twitter.com/NickSzabo4/status/1008974899690463232
Check out my previous posts on my crypto blog
- BISQ DEX - The Awesome Bitcoin Fiat Gateway - https://chesatochi.com/bisq-dex-bitcoin-fiat-gateway/
- BitUSD - From Steemit to Bitshares - Preserve your Crypto Wealth - https://chesatochi.com/bitusd-steemit-bitshares-preserving-crypto-wealth/
- HODL & Spend your Crypto to Enhance your Life - https://chesatochi.com/hodl-spend-crypto-enhance-your-life/
- Changelly - An Awesome Crypto Swap Exchange Review - https://chesatochi.com/changelly-swap-exchange-review/
- Crypto Passive Income Series - Steem Power Delegation - https://chesatochi.com/crypto-passive-income-series-steem-power-delegation/
- Cent - Get Pay in Ether for Answering Questions - https://chesatochi.com/cent-get-pays-ether-answering-questions/
My Crypto Blog
Crypto Blog: https://chesatochi.com
Crypto Resources: https://chesatochi.com/resources/
Crypto Millionaire App
Check my review of the crypto millionaire app
https://chesatochi.com/crypto-millionaire-app-etf-strategy/
Follow the creator on Steemit @CryptoEagle
Next goals on Steemit
- Reputation 59 (Steemit-Samurai)
- Increase my position to Dolphin
This really is not correct.
The recent decision made was due to comprised keys during the registration process and executed to save individual's money. If block producers take this action without due diligence, they will be outed by the community as votes will be removed.
The real essence you don't have control of your money and this centralized entity can freeze your asset without any notice!
It is not the philosophy of a decentralized world!
But you do, EOS is the only chain that includes an arbitration system to which you can reach out too all with there own opinions on a given matter.
EOS is not centralized, we have 21 active and separate block producers with many other standby producers. They must have consensus to take actions like this.
The other option is that people lose a considerable amount of money as we have seen multiple times with our currencies. I wonder how you would feel if one of these accounts belonged to you?
Agreed it is not the true definition of decentralization but if you want mainstream apodization, you need to add a level of security. Joe Blogs are not tech savvy and will be terrified of investing or holding money in a system that has no recourse for nefarious activities.
Oh, this sounds really setback for the Crypto Enthusiasts and just imagine if we put so much effort to hold the EOS and to make effective portfolio of EOS and then tokens are freeze it will give real heartbreak.
I believe EOS is a suck project afterward, unfortunately!
Sounds like that only.
This centralized "security" defeats the philosophy of the block chain. If you can trust people acting on what is "good" for you and doing so with the "consensus" of the people, keep your money in fiat. everything will be fine...