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RE: From Scammer to Saint
Why would somebody move all of their money into a form that they could lose with no help for getting it back once it is gone.
That's probably 99.99% of the cryptospace currently, considering the marketcap is over $170 billion I'd say a lot of people. :P
All I'm saying is that comparing Steem to the others, here you have a better safety if you have your funds in SteemPower and have registered the account through @steem.
I can see insurance companies being needed in the future of blockchain security, though.
For sure, but the people who have money in crypto, they haven't moved all of there money into it. I am sure there are some people, but for the vast majority, everybody still has a bank account and a credit card.
Steem is definitely ahead of the curve. I just feel we have a lot further to go before people are able to utilize the block chain like we can utilize a bank or a credit card. And one of those, is the insurance I have for my funds if they are lost.
Thanks for the talk Acid!
Indeed @biasnarrative, we have a lot to go further to reach that target, so much that I have few hope that I will be still alive to see it, but this is the inevitable future. Blockchain technology is the inevitable future of the financial world.
@acidyo, I think you are right about the insurance company aspect but one alternative could be (shameless plug coming), a protocol like ours that resolves disputes through smart contracts, and manages escrow through the blockchain. I think this could one method of securing crypto investments across multiple platforms.