Steemit board crash a lesson to learn from...
I don't know how many people tried to log into the Steemit board over the last couple days only to find out it was crashed, but I'm sure that more than a few wondered if it was a fatal crash with all the Steem and SBD flushed down the toilet for good. Things are working again, for now, but the events of the last day show what happens when people's "investments" or "earnings" are just electrons on the internet -- you could wake up one day and POOF! All gone.
I'm sure the apologists will say there was never any danger and the blockchain was super secure regardless of what happened to the website; however, I would like to point out that if people invest in things like physical silver and gold, then they don't have to contemplate the instantaneous disappearance of their assets.
No matter how much you like or support cryptocurrency, there is no denying that it is just random electrons with no intrinsic value. You may be able to use these crytocurrencies at the moment but don't be too surprised if some day there is a permanent fail.
Silver and gold may be boring and old school, but they are real and have intrinsic value that crypto coins can never duplicate.
Completely agree. In case of catastrophic failure in existing social or technological infrastructures, which would you rather have: some electronic "funds" or a pile of silver coins squirreled away?
Diversification is so important. People love to chase the fast gains--nothing wrong with that--but easy come, easy go. It's a good idea to have some stable long-term physical holdings too, just in case.
img credz: pixabay.com
Nice, you got a $8.12 @minnowbooster upgoat, thanks to @swingsleuth
Want a boost? Minnowbooster's got your back!
The @OriginalWorks bot has determined this post by @swingsleuth to be original material and upvoted it!
To call @OriginalWorks, simply reply to any post with @originalworks or !originalworks in your message!
To enter this post into the daily RESTEEM contest, upvote this comment! The user with the most upvotes on their @OriginalWorks comment will win!
For more information, Click Here! || Click here to participate in the @OriginalWorks sponsored writing contest!
Special thanks to @reggaemuffin for being a supporter! Vote him as a witness to help make Steemit a better place!
img credz: pixabay.com
Nice, you got a $8.12 @minnowbooster upgoat, thanks to @swingsleuth
Want a boost? Minnowbooster's got your back!
Great post thank you for the insight. I'm looking forward to this event great!!!
https://steemit.com/@rakib331332
Follow me plz
Congratulations @swingsleuth! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
That is so great. I am very grateful for that! Love it.