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RE: Steemit Power Down Proposal

in #steemit2 months ago

Here's my thoughts after a real horrible experiment that lasted over a year. First, that steem was stable and except for few when the wallet was comprised in places like poloniex, it worked very well, the steem/SBD wallet. Now that the wallet is separate it works even better.

Second, I took my steem about oh 3500 or so and bought various cryptocurrencies with it. In the end, my purchases totalled 1.6 btc.
I had 0.2 of that in nicehash.com mining. When btc was at $16,000 nicehash was hacked my 0.2 btc was stolen. Inside poloniex and other exchanges, including coinbase almost every trade resulted in a loss. The amount of the original steem left is 1024 + 338 sp..

Conclusion: were steem to increase in price like it was, who would care about anything else because all you get is robbed!!!!!

On the one hand, I have enough of my original crypto purchases to become a dolphin in an instant because of low price of steem. On the other hand, if everyone powers down and the price is forced lower then all proposals are counterproductive.

People who want to power down should plan there power downs because if a power down is used for nothing but a get rich quick trading scheme the regular will probably lose it or have it hacked anyway. Like I did.

The best solution is to do every last thing to make steem worth more in price!!! More secure!!! Security is everything in crypto. The lengthy power down time makes the wallet more secure - then a long power down time is good