Hello folks, today I was thinking about how unsure is to make the user, hold the private key of the password so it is never stored in the Steemit database. I mean for me this method dosn't make sense because yeah if you lose it you lose the access to your account, and if someone takes it there is no 2fa for steemit.
So whats the point? we have to store this key without encryption in the worst posible enviorment.
Hopefully someone knows the answer for this.
Yeah it doeant make me feel good
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It works well if you don't use your owner/master key if you're not hacked, because you can put your money on savings, protecting it for 3 days, which should be enough time to change your password.
People are not ready for crypto because they are not able not retain a password. Some people would need an online service that stores passwords for them and offers a recovery option providing a proof of identity.
No need to store the password in clear text, one can encrypt the file or use a password manager. It still remains a master password to memorize!
I wrote Cryptnote for Android and for Desktop. Keep your password files synchronized using e.g. Dropbox.