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RE: Bittrex News, Volumes, Coins Review and Opinion

in #bitcoin7 years ago

hell yeah! I got my nanoledger too and Im about to start REALy filling it up! But I also will keep my coins spread across multiple devices just in case, and also I realize the SAFEST place to keep your coins is on Steempower where it is time locked and no one can get to them without a power down first! So a hacker would need to stay in my account for 1 whole week just to get 1/13th of my steempower which wont happen since steemit's hacked account recovery process will allow me to get my account back within a day or two as long as I have my last private key that i would use even fi a hacker changes it... cant do that with Bitcoin! Another reason why Steemit is more advanced than Bitcoin! We have a network of witness nodes who can do things like that while Bitcoin doesn't have hacked wallet recovery procedures but maybe should i the future, who knows, I think steemits DPOS service is the best for storing large amounts of money safely! just keep your steemit keys safe and I recommend keeping them on a external solid state hard drive and only plugging them in when you have to use your wallet key, use use your Posting key when you're normally just using steemit to post and upvote... plug in the external hard drive to get your active key to send or receive payments and post....

See it took me a while but now I see it makes sense to just never keep your master password anywhere but offline, and have steemit logged in with your Active Key because the Active Key is all you need to make post, upvote, and to send steem or SBD and power down... but not to change the password! So someone can get this key and use it to empty your SBD and Steem, but they would need to wait 1 week to poer down any steempower and so you can get back in before rthen! BUT they wiold never be able to change your password and lock you ut! So only use the Active Key on your computer so if you get hacked someone canonly get THAt key and not the master one!

soon we will be able togety our Master or Posting keys onto a nano Ledger S and plug it in everytiem we want to make a transaction or something it will be cool for extra security!! They put ARK on sledger nano S and its DPOS like steemit is!

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Mate, you have opened my eyes to the power of Steem as a form of storage and some very useful information on the ledger nano. It be a great feature for the extra security thanks man for a great reply :D