SAVINGS - new addition to the Steemit Wallet
I just noticed the Savings option in my Steemit wallet.
Of course I always think the concept of saving is a great idea, but I'm confused by its inclusion here. Generally savings accounts pay interest. But we receive 10% interest on steem dollars that are held in a different area of the wallet.
So far as I can tell, the only distinguishing feature to the savings account aspect of the wallet is that it requires a three-day waiting period for withdrawal. Wouldn't it make more sense, then, to apply interest to monies held in the savings area of the wallet?
Also, I can't find any information on why this update was done. Is it to provide a saving incentive? Steem power already provides incentive to "hold" steem rather than power down or transfer it out into USD. So what is the purpose of an additional savings area of the wallet? If anybody out there knows the reasoning behind it, please share in the comments!
I have been searching the site looking for information, there's nothing. Hoping someone updates about this soon
Not positive but I think i read something about it being a security feature if your account is stolen. it gives you 3 days to get it back before all the funds can be taken.
Yeah it's all here
https://steemit.com/steemit/@steemitguide/ready-for-steem-update-0-14-0-everything-you-need-to-know-about-the-upcoming-hardfork
Nice one, thanks for the link!
Your welcome :)
Me too! It's bizarre that these things occur without any announcement or explanation.
It shouldn't be happening, we should be fore warned before they do anything
I think it was proposed in White Paper
Ah ok thank you :)
I lose 2 sbd in saving wallet
Still confuse how to use it