So, the day has actually come to pass (well, it came to pass a few days ago, but I only just got around to writing about it!). If you follow my blog, then you will know that I do the analyst thing for Cindicator, which was a nice way to keep abreast of the crypto universe as well as earning a bit of Ethereum on the side!
However, this last month (as per their roadmap), Cindicator has switched from payouts in ETH to paying out in their own ERC-20 token, CND. Initially, my first reaction was that I would just take the CND and dump it straight away, and I thought that many analysts would do the same. However, after waiting a bit, I saw that CND wasn't diving in price, which it would have been if analysts were just dumping the token. Instead, it had remained steady, which made me take a second look at their products that they had on offer, which requires that you hold CND in your Ethereum address to use.
It turns out that some of the higher level products would be of great use to people who would do high levels of trade, and there are planned roll-outs for more prediction tools. None of that is particularly useful to me (I don't have that much loose cash to splash around!), but when and if big money does arrive in the crypto space, then there will be people and institutions that will be interested in the hybrid AI/analyst market predictions that Cindicator is providing with relatively good accuracy!
In addition, there are tools that a being promised that will be more targeted at analysts like me, which seem to be only available with the coins that are earned by analysts. That sounds right up my alley...
...and so, for now, I hold my CND tokens instead of cashing out! After, the promise of something more is just too alluring!
Perhaps they will turn out to be nothing, but seeing as the CND tokens were earned via a short investment of time, then I find that to be an acceptable price for the promise of the future!
After all, it does seem like that they have big plans being thought about!
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Posted from my blog with SteemPress : http://www.gamerjokerbreadder.com/2018/10/03/change-in-cindicator-payouts/
sir bengy! I don't understand a word of this but wanted to show my support so I'm stopping by to say hi! lol.
I do understand Ledger though.
Ledger is a good thing to understand! Having a solid and secure place to store your crypto is really an important thing! In addition to not having a mess of wallets that need to be kept updated!
howdy again sir bengy! well what about our steem? I guess steemit is our wallet and I don't even know how secure it is, what's your opinion on that?
Well, I guess this would be the equivalent of a Web wallet and so it keeps all the hassle of updates and keeping up with forks out of the hands of the user. Basically, you dragged for the ride in that respect! But I think it is a good way to do it, seeing as most people barely keep any software updated in the best of circumstances anyway...
The idea of splitting out the keys into the 4 types is a really good idea, as long as the master remains safe and secure (big if...). The time delay on the powering down limits any potential loss to only what you have as liquid Steem and SBD, although, I suspect that is a side effect and the real reason is to lock people in and reduce volatility.
Other than that, the security is basically only as good as the user's own internet security.. Which is to say that it can be quite variable. If your computer secure? Your network? And all of these questions... In addition, the wallet is open to public view (like most blockchain) and often easily identifiable to a particular personal identity (unlike most blockchain, with the emphasis on Easily).
So, I would say that it is secure enough for day to day petty cash... But I sure as hell wouldn't have my life savings hanging around here!
hahaha well sir bengy that would be nice to have a huge pile in here to power down with though huh? And then put that into Ledger?
Thanks so much for your detailed and thoughtful reply, you sound like a professional security guy!
Haha... hardly! Just an interested amateur!
haha! ok then sir bengy but you do make most of us look like total amateurs and so you look like a professional. But we appreciate your knowledge.
You got voted by @votefun thanks to Bengy (also musicapoetica). To support development, check out Rishi556. Hosted on the @cryptowithincin discord.