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RE: Steem's ecosystem needs to take the lesson of Bitfinex to heart. Bittrex and Poloniex NEED cold wallets!
We are working on a solution where exchanges can set daily rate limits on withdraw activity from their account. Their "warm storage account" could be online allowing them to withdraw X% per day to their "hot storage account".
The downside from a user's perspective is that attempts to withdraw your funds would be rate limited by the same algorithm. But at least it would be transparent why there is a delay in withdrawal.
A possible solution would be to add 2 factor authorization. This would be great for users and exchanges could move a majority of funds to an account secured by a secondary hardware PIN.
As long as the default is hot storage and people have to opt in for warm storage (much like Coinbase does there vault), I think this would be a great feature to add.
I agree with your opinion @lukestokes
Maybe the limit could be increased substantially for people that have 2fa?
Still 2FA is better. This makes very little sense. Security should come first.