You can never be too safe in crypto!
Peace,
dan-atstarlite
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Resteemed you made some great points here thanks for sharing
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Thanks!
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I don't see any reason to hold Steem, just Power Up!
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True... powering up gives you the most value as a hodler
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Thank you for you post @dan-atstarlite. But I have a question, I have bought 90 steems, didn't power up. But how do I know how much more do I get depending the amount of steems I power up.
That's something I wonder, how to know what it's more valuable, as SP is not so easy to take it out
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Dude, you always come out with the most relevant videos! Great methodical outline of information in this vlog too.
You've definitely got the talking skill bud, I could probably just listen to a video of you listing cat names and still be entertained and engaged lol
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Thanks man! Encouragement is always welcome and if you've got a list of cats you like I'll give it a try lol
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Well...
I think I can come up with a pretty extensive famous cat list :)
oh oh, we could make this a "Steembirds" song lol. A tune about all the internet cats..Sound like a lot of work tho. and upon re-reading this, a terrible song idea ~
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You had me at Penelope's Pussy..
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hahaha. Penelope is a hot name for sure !
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If I put it in my savings account dos it still go up as wen the steem token goes up ?
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Yes! They are still STEEM tokens... you're just locking them up in a smart contract that has a 3 day withdrawal delay. (Obvious Steem Dollars in Savings will not rise with the price of STEEM)
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Great thank you !
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Thank u so much for this post video :0) really helpfull and inportant. I havent thought about it but now I will. U made my day.
Resteemed upvoted
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@saffisara I found this because of you :D
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Really? I hope thats a good thing....lol
Im glad, I did what he said so now its in save acount. Have a great day
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I only have about 5 sbd, maybe 0 steem, (mostly SP) but this was a very good reminder!
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Mabye I should have spend all mine in sp instead? Is is easy to take them out of savings and put them back? Never done that before.
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I'm not an expert, but the SP is more secure (greater time delay in emptying out your account) and - as you know -gives you higher voting power. I haven't tried savings until today, so I will let you know when I find out about withdrawals XD I imagine it's easy enough.
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I think u right and like u said its good to power up...;0) I think I will do that.
Just dont know that withdraws means. I'll wait if u find out.
So I dont mess up compleatly...lol
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hey @dan-atstarlite i wanted to tell you about this too - https://notify.steemdata.com which is a tool i found that can send you notifications of 'activity' on your account which i think is cool, especially if your travelling around and not logging in daily to steem. great blog post bro, watch your videos all the time.
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Thanks man! will check it out!
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Thanks Dan for sharing this info... was very helpful... i guess best option to secure would be to invest all in steem power, hackers may not have patience to wait 13 weeks.
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lol, a 13 week hack undetected would be quite the feat
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Great job Dan! They are coming for sure. Great advice!
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Jeez.
Now I know why there is a svaings account.
Because wasn't going to use it at 0.0% APR for keeping anything in it in the first place! :-
But now it has a purpose against getting hacked like myetherwallet holders were!
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Yeah lol I can imagine the confusion... 0.0% APR in not a great rate
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Perfect timing, thank you! I was just looking through the whitepaper yesterday looking for the reason behind the savings. I tucked a little SD in there yesterday to watch and see what happened, but now I understand :)
Does it benefit Steemit as a whole more to have more in savings? I mean does this stay in the same pool as SP or is it a different pool?
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No, it doesn't really have benefit to Steemit, as far as I know it's just a security feature. I don't believe it's part of any pool. It's just a time-locked contract that you can transfer your STEEM into.
ps. keep in mind the white paper is totally outdated... still a good read though
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Ahh, okay thanks :) So I will keep most in SP to upvote and delegate, to share back some...and a little bit in the savings.
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Thank you @dan-atstarlite! This is great info. I personally take all of my liquid Steem and SBD off the platform. The savings system works great if used.
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Interesting... do you keep them in cold storage then? I know some people use paper wallets for STEEM but I haven't really come across any easy cold storage solutions
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Thanks Dan for the video... really good advice... I'm a mannequin, but the hackers are coming for me too :-(
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If I said "you look like a mannequin" would you take it as a compliment?
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Oh Dan it's a great compliment! Now I feel more human :-)
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Very informative. For now, I've been powering up mostly. But if I start making good SBD, I'll implement the savings account.
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Yeah powering up is great! The savings accounts are only for if you want to have access to secure funds in a much shorter timeframe
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Thanks, never knew it's a cool place to save steem. Will do that now. The thing with these guys (hackers) is that cryptocurrency is the best place to hack. Anonymous and decentralized.
That three days delay is super. Awesome video 👍
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Useful information, thanks a lot. Is there any way to keep steem dollars offline?
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It should be possible but I don't no of any application that could easily help you achieve that yet. hopefully SBD will be on Ledger some day.
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Great advice Dan. You can never be too careful especially with the latest hack on the Parity network. Although that was mainly due to a fairly obvious flaw in the code that everyone failed to notice.
I have never used the savings account before. What is "currently collecting 0% APR?" Annual interest rate?
Thanks!
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Yeah, currently there is no interest being paid. So the main reason for these accounts is security.
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Thanks man!
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If people started to use Steem/SBD to store crypto value this would be great for Steem and Steemit, but I don't think that's going to happen unless Steem is used more outside of Steemit.
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Yeah, I do believe that STEEM has a good chance too becoming a currency outside of Steemit because of transaction speed and no transaction fees... but it will take awhile for the crypto world to come around
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Yeah, for as a new as the crypto world is, it seems like it takes people a while to come around to new things.
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I have been talking with the payment management team on Etsy about accepting STEEM as a payment method. There are quite a few of us here who have Etsy shops, and would love to open steem payments.
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I'm at work but will watch later..the lack of 2FA is a concern to me
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2FA would be a nice option... and I imagine Steemit will have it eventually
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Followed you from youtube, awesome video... save it in SBD 😬🙌🏼
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@dan-atstarlite thanks for sharing this video, I agree. I guess that steem power is very safe as it takes even longer to cash out.
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Correct, SP is the safest but least liquid
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Point...it takes almost 3 months to cash out SP?
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Good Hacker warning. thanks for the info.
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Why not just power up? It helps the whole community!
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I agree, powering up is a great move... But there are lots of reasons why some users may want to keep some STEEM accessible... trading, spending, running a steem-based business etc.
Eventually if STEEM/SBD are to be used like currencies then everyone will need to have some liquid
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Great video man! Didnt know much on the savings aspect
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Nice post I am following you. thanks for sharing the info.
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Thank you for this post, very good to know.
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Agree, great advice Dude.
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Hacker Allegedly Steals $7.4 Million in Ethereum with Incredibly Simple Trick
https://motherboard.vice.com
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As a bit of a newbie to the world of crypto, this was a good discussion of the safety issues.
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Thanks for the info!
Great video.
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Thank you for this video. I have used the savings before, just to check it out, and I actually gained a few cents over the few days. Thank you.
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Cool
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Thx. Better safe than sorry.
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This was awesome advice which I would definitely apply. Thanks for sharing!
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do you earn anything for putting Steem in your savings account?
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Beautiful and suggestive post !
Thank you so much for your effort !!
Upvoted !
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Thank you, i didn't realize!
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thanks for your warning and very relevant video! resteemed it.
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Great video! Now I'm following you
Upvoted.
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