Warning: The Dangers of Exposing Your wealth on steemit , online and other Crypto platforms
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:
Pic Source
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.
What do you think? send in your comments, resteem and upvote in order to send in your support.
Click here and read my former post: Funny but serious: Crypto haters are like angry babies
An Advert for a top new crypto www.elyte.io
Competition: Our competition bounty is open- feel free to share this form and Join Elyte 1st Social Media Video Competition via this link : https://docs.google.com/forms/d/e/1FAIpQLSdOtRSqVYV48sIghmNUGG_pUNtoc-AneaDUzN8YBZhDPGPIzw/viewform
White List / Crowdsale: crowdsale is still open for those who want large quantities of Ethereum Lyte at good price. Take up the opportunity of cheap Eth now to change some fiat and buy cheap elyte tokens now before it is too late (see link https://main.elyte.biz/?page_id=433 )
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.