Unfortunately, our world is fraught with dangerous thieves and thugs roaming the internet to see who to rob either by sending out phishing links (via emails, smart phones and wallets), scam deals and in extreme cases can result to kidnapping just to get money from the person. The conundrum, however, is: have we ever thought about the dangers of exposing our wealth online or has the pride of showing off taken over our common sense? Here are some few points:
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Steemit Wallet : Steemit is a decentralized platform (I get it) however the visible wallet has many disadvantages which include exposure to theft , scam, kidnapping and begging for upvotes and or money (for those with huge amount of steem power, steem and steem dollars). The solution will be for members to have the option to hide their wallet from preying eyes and for the said person to go anonymous with regard to his or her real identity as most members do here.
Social video sites/internets: Few months ago, a well know bitcoin miner did an interview on YouTube and bragged about his 500 bitcoins which he bought when it was under 5 USD . This caught the attention of professional hackers who got hold of his email and phone number and used the details to get his login details including pin of his coinbase account (bitcoin wallet) and subsequently robbed him all his bitcoins. Therefore if you are blessed with top coins/ tokens do not expose it to the world and try to install Google authenticator which will help you to secure your wallet. Moreover, do not click on any link sent to your smart phone and email address (unless you are sure of it) due to phishing software’s that can get hold of all your private key. Furthermore, try get an offline wallet (for big holders of top cryptos) , at least this will guarantee the safety of your investments.
Importantly, all these tips will not save you if criminals know your address and come to you armed –therefore best security (think of your family especially children) is to go anonymous online and if you will do an interview, do not brag/boast about how wealthy you are unless you are able to hire top presidential type securities 24/7.
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serious point. Every person on steemit need to understand their security risks. Awareness is necessary to avoid these kind of situations
Good point, thanks for your comment
Well explained, and really a needed point.
Because, I noticed many people share their success stories here and that's so good to share success, but need to be careful and don't show your earning and don't click on links you don't trust.
And recently I was checking this news about EXMO exchange manager and what happened to him:
https://cointelegraph.com/news/ft-exmo-director-released-from-kidnap-after-paying-1-mln-ransom
Attacks increase always as crypto go more popular, even exchanges are tracked online as happened with coincheck or offline as happened with EXMO exchange director.
So, Keep yourself, safe guys, as much as you can.
That's why also, I believe in 2018 we will see many decentralized exchanges appear and many effective security ways come up.
Thank you Charles for sharing this advice with us :)
Welcome and thanks for your comment
Security is so important in this dangerous world however , ignorance, showing off and pride have made most of our dear people forget that criminal are at work searching for whom to rob. Let us keep our money safe and stop showing the world our wealth ...as a young lady, I am proud of my dads safety measures...family safety comes first. Thanks for sharing...100% upvote
Always on point, thanks my dear young lady
Good point , thanks for your comment
Thanks for the topic, just my last post was about this same, I invite you to review it here: https://steemit.com/steemit/@entertainment123/dangerous-to-show-the-value-of-our-account-in-steemit
Point, upped.
I would like to slightly disagree with you on the point you raised about the steemit wallet. To minimize theft, If someone on steemit has some specific amount of SBD or STEEM in his or her steemit account wallet, the steem blockchain allows users to store their SBD and STEEM tokens in the savings account. When the funds are in the savings account, they may only be withdrawn after a 3 day waiting period. When it comes to steem power, the STEEM that is held in the 13 week vesting schedule can only be withdrawn at the rate of 1/13 per week, that is after a waiting period of 7 days or rather 1 week. The time-locks prevent the thief or attacker from having access to the full portion of a user's funds immediately. This way the account owner has time to retake/regain their account before all funds can be withdrawn. Unfortunately i noticed a few people use the savings account sections. I also think the openness in the steemit wallet encourages honesty and trust which discourages scamming . With the issue of asking for upvotes, the flag is just a few clicks away :)
Good point however you are out of point with regard to the post. The post is about exposing your wealth to the world. If all your friends and family members including neighbors are on steemit and knows your account, will you be happy for all to know how you withdraw money, how much you have or dont have? many people judge people here according to how heavy their wallet is so having option to hide it will be a good idea.
You don't understand the point. Anyone that wants to take money from a steemit wallet, must make that theft in broad daylight. You obviously do not understand the blockchain and should probably do some research regarding it. This transparency IS THE SECURITY of the platform.
Good point, I agree with you and know about the important aspect of the security. However my point lies on the ability to hide your account from preying eyes which is a valid point too.
No. No its not. You shouldn't really writing on this subject. You obviously don't understand how blockchain works and why.
Good point, however in blockchain criminals are anonymous steal in broad day light, because they can be anonymous ie use a wallet address with any name ...Lol a scammer can even use your name and pic hahhaa and later abandon the account. Scammers have used Kingcrrown to scam me via steemit wallet however I noticed double r however the same scammer succeeded in scamming many people after seeing their wallets. Transparency is good however there is also downside to it.
Your wife in a trunk of a car is a flaw to this transparency.
The system slows the process down, but if you are forced to transfer your money to another, anonymous system, you will, and everyone will simply see your operation, not one of the criminal.
Okay, you guys clearly just don't understand it. Good day.
I don't understand what? In what way does the blockchain protect me and my close ones from being threatened by someone, who will do this on the basis of transparently visible information? In what way adding delays to resources withdrawal stops the good old fashioned blackmail that will force me to withdraw them out of scope of control? What am I missing here that would make it not look the way I'm seeing it?
Have you actually tried addressing my point or are you simply bragging about how awesome the algorithms are, when isolated from the real world application and people?
As their is Advantages there are many disadvantages over here...Security is what we are hunting in centralised and decentralised market and over here our wallet and every thing is open people can 24*7 hours see as what and how much SBD steemit power we have its so damn risky thanks for the great post anyway sir @charles1
Good point, I agree with you. There are 2 side of the issue....freedom and security.
WHAT RISK??? Are they going to steal from you in plain view, where their theft is clearly trackable on the blockchain? HOW??
It's a good thing that Steemit is decentralized and thus, the whole system is transparent and open.
I believe it would be much more greatly secured and fully safer if wallets value and account information could be hidden
Good point, I agree. Remember that friends and family members can see how rich you are and start asking you for money Lol
NO! The transparency makes it impossible for a thief to approach anyone secretly. If the manage to hack you, it's done in plain sight and trackable through the blockchain, the author knows nothing about what they are saying. If it was hidden, how could anyone know if you were stolen from?
yes...i think in today's world, cyber crime is in all over the world at very high parameters. so we should double secure our all digital accounts and violet.
Good point, thanks
Anyone can check everyone else’s account on Steemit. It was designed that way.
As for the rest of someone’s money, yes, never disclose.
That is the issue. Having options to hide or allow it will be good.
Wrong again, and again, and again. Transparency makes the wallet virtually theft proof. Who will steal in broad daylight, knowing their every move is tracked and recorded forever?
Good point, however in blockchain criminals are anonymous steal in broad day light, because they can be anonymous ie use a wallet address with any name ...Lol a scammer can even use your name and pic hahhaa and later abandon the account. Scammers have used Kingcrrown to scam me via steemit wallet however I noticed double r however the same scammer succeeded in scamming many people after seeing their wallets. Transparency is good however there is also downside to it.
I'm still a newcomer to steemit, but this is a situation I quickly got aware of. Just earlier today I wrote a post talking about how most whale accounts are basically faceless and give no clear signs on who is behind them.
I'm sure a lot of the times it would not be just one person behind a high value account, but still its interesting how no whale reveals its identity. Would this be a reason for famous people not to join the platform?
This is an issue that needs to be addressed somehow by the Steemit Team and @ned, otherwise this might considerably limit the growth of the platform.
It's something weird and contradicting about blockchain technology. It offers both transparency and privacy. Can we actually have both at the same time?
Good point indeed...thanks for your comment
Worrying about my vast wealth being visible to people is a problem I'd like to have someday.
Point
ahhh so scary... I don't ever want to get kidnapped. EKK hides
Hahahahah my dearest one. Who will dare kidnap you when my eyes are watching???? however, it wll be great to have options to hide your growing wealth isn´t it? I wish you more success
LOL! :) Not kidnap worthy yet :P
Yeah, someone did a post recently arguing the case for hidden wallet balances. I'm kind of on board with it.
Good point bud, at least we need some privacy
Good point bud, at least it will be good to have the option.
I'd like to disagree. The decentralized Wallet is impossible to hide since the entire existence of blockchain-based systems are these numbers, besides. they don't show your real world saving nor do they show who you are - that is up to your posts.
Also, it is to be considered that Bitcoin & Co. don't really have a PIN in the traditional sense, since it's really just a signature for your transaction, nor is it possible to steal Bitcoin & Co. since they are'nt existent anywhere physical. What you mean is transfer the Bitcoins to their accounts. Also, keeping the Key safe is possible - a physical place might actually be your best bet.
Also: Family seems the wrong tag here
Your comment is ok however fraught with errors. The article is based on those who expose themselves to the world without thinking of security -be it in steemit , internet or youtube. I , will prefer to have the option to hide my wallet informations especially when I have whale like power (an option is not a must!). Family tag is very relevant because it is an issue that relates to family, aka security - am long enough here to know
IF you could hide your wallet, then a thief would have the security of stealing from you privately, carrying away the stolen wealth and not being tracked.
I get the security aspect but the openness of this platform is refreshing. If security is the risk here just transfer to another currency like monero. In different wallet you should be secure there.
Good poont, however there should be option of hiding wallets , as it will be good for some people. Too much openness has its limitations too
I follow you, please follw back..thanks
Everything comes at a cost, nice post bro
welcome
I guess the best way is to always be humble and don't brag about how much we really have. At this point, I need not worry as I am still a tiny little fish swimming in steemit ocean. I am not even visible to most whales. lol.. Thanks for the good warning for everyone!
Welcome and one day you will be visible, so take note.
Yes, it's really dangerous. I think I was raped today because someon knew that I have 5.3 steem.
(joke)
Hahaha its possible for some scammers to send you chat voting scams for such ammount, it happened to me before Lol
Good raising of awareness. But I think if people brag about their wealth they bring unwanted attention to themselves and it's their fault. People need to be humble and not brag.
Good point, that is the reason for the post.
Indeed :)
I think in the next fork the steemit team should consider giving investors some privacy. They should add an option in which a user can choose to hide his identity, SP, STEEM and SBD owned.
Good point indeed..I agree.
Publicly flaunting money, jewelry etc. always attract people with bad intentions. There is no way around that. Honestly there is no need for anybody to see what is in our wallets on steem except for contest winnings verification. There can be ways to prove the contest winner was in fact paid without exposing all Steemers wallet details to sttangers.
Good point indeed, I agree.
The transparency of Steemit is the only way it will work There are virtually no rules here, being able to see what you do is how your fellow steemers can know whether or not to do business with you. The upside far outweighs any downside. Not to mention, the transparency also means that every single tip request, comment, and tag are also visible, where would a thief hide their take? No, transparency is not a threat to security, it is a boon to it.
Very good comment, I agree with you..your comment shows the other side of the story which I did not touch ie transparency . Thanks for your comment.
dear @charles1 your very well post...
& great post..
i love this post..
thanks for sharing..
You will destroy your reputation with useless spammy comments...not funny
Is downvoting even possible?
Yes, I did it to the above post...
sorry sir..
Will not be..Forgive me.
Flagged removed, next time read and comment wisely. See your rep is so low due to people flagging you....will be difficult to succeed here if you do not change
ok,thank you sir
Nice,I like post you @charles1
what is nice about the post?
for the information, so we can now know because many people who play cheats or steal. Sorry if my komemtar is less weighty, be aware of just learning. success is always for you @charles1
Ok, pls read posts and comment accordingly. Success
Thanks bro for your kind information. Thinkfull matter of us. Great job and respect to you and your awerness post.
what is good about the post?
This post has received gratitude of 6.23% from @appreciator courtesy of @charles1!
Hai @charles1.. We've follow each other.. And i've vote your article. Would you like to vote me back??
Get your @charles1, thanks for your post. it remain me something. but however I cannot see other comments. is that because you hide it, if it is, how to do so??
Thank in advance
what do you like about the post?
good thinking.we need to care about it.
Good work best wishes for you I have 1 post maybe you like and it is not so good like your work
what do you like about the post?
I like a nice and interesting photograph to produce a beautiful post but I do not know how to work properly I am now learning to produce a beautiful masterpiece beautiful sdr tmenarik attention steemian how your comment about my post
I want you to give a little way to produce a good post I am very happy to meet you
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regards know me @ anwar12 newcomer in steemit please help and guidance her, please follow and upvote me.
People fail here by begging...read my older posts for tips on how to succeed and learn. Stop begging
sorry and thank you for your advice. I'm not begging you, I'm just looking for friends who want to share.
Educating people is the only way to reduce these attacks. Most of the people I know in crypto are there because of the rising in price of bitcoins, they have zero knowledge in technology. This saddens me.
thanks for the information you provide today
Regards
@mulyadibaloy
Nice post! I will follow you from now on.
Thanks for the awareness @charles1. Most of us are ignorant of this.
muy bueno hermano
All bad aspects apart isn't it fascinating that the greatest theft is a digital one? We're forming society of the future
Glad I'm not the bragging type, nor overly obsessed with money. If the time comes I get to make a decent pay from here someday, well I would deal with it like the lottery, fortunate and hide! 😉
Good point
My explorations today in taking macro images are droplets and I realize it is not easy because a little touching then the dew will fall and this dew I take with Samsung Galaxy S7 Edge camera and additional macro lens.
Excellent point. There is something to be said for transparency but there is nothing wrong with honest opaqueness. Peace.
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