Are steem wallets still safe? Likely YES!

in #steem6 years ago (edited)

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There is FUD spreading as steemit inc is powering down their SP and saying that they are moving it to a safe wallet. This implies that steem wallets are not safe anymore.

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This is very likely not true at all. Steem wallets are still safe as always. Please read this article by @krnel for more details:

https://steemit.com/steem/@krnel/steemit-inc-powerdown-due-to-fears-of-having-accounts-stake-stolen-in-future-hardfork

Long story short: Somebody on github (not a steem developer) made a proposal for a hardfork that would confiscate steemit INCs steem accounts (all of them) and their stake with it (by changing their owner keys).

This is not a hack but a hardfork proposal and such a hardfork will never happen because 17+ of the top witnesses (according to @ats-david) would have to approve this hardfork. They would never approve this!

So why is steemit inc powering down?

Well, now it is theoretically possible to STEAL all steem from steemit inc, if the witnesses would unite against them. Of course, Steemit inc is taking the necessary precautions as a company to assure 100%, that this will never happen. Likely this is the only reason why they are powering down.

No other user accounts are affected by this github hardfork proposal, so everyones steem wallets are very likely as safe as always.

Everything is fine, calm down.

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Glad to know that STEEM is safe, I've been out of the site for a while now (I'll probably explain why in a post soon) and I just heard about this from your post.

I keep seeing people say “19 witnesses” are needed. That number is incorrect. There are 20+1 consensus witnesses. You need 17+ for a hard fork.

Krnelol should know this but apparently does not know the Steem protocols, which is sad, considering his time as a Steem witness.

Thank you for the clarification!

I agree with you, steem wallets are safe!

This post has been included in the latest edition of SOS Daily News - a digest of all you need to know about the State of Steem.



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