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RE: Account Ownership: Undervalued Aspect To Hive

in LeoFinance3 years ago

People overlooked the control they have on their finance. I made the same mistake looking at my Hive wallet during the early days. My account may not earn through posts due to disagreement of rewards but there are other mechanisms that could keep me earning through the platform. And the integration of decentralized exchanges gives me more options not to tie my investments on traditional institutions.

I'm sure majority of people don't entertain the possibility of their banks and other centralized institutions ever conning them at some point. It's just unthinkable for now until it hits them one day. They can't appreciate this until their accounts are frozen.

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Ironically, banks do offer a form of protection that is not evident in social media. Banks tend not to cancel or freeze accounts without court order, at least in the US. Yes they will steal from them through fees (bankers are crooks after all) but they tend to provide a barrier to the government.

In this instance, there is no government (not a bad thing) or any entity standing between the individual and Facebook.

That is the risk that people are running.

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True. On a case to case basis crypto is still relatively not a thing from where I'm living. Last 2017, accounts associated with crypto from Banks got frozen just cause of the influx of money and unregulated terrain. Just the government and banks joining forces. The media hasn't brought it up ever since and crypto has been hushed or not the focus right now due to the pandemic here.

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Banks and crypto are not friendly to each other. That is for sure. We will see crypto eliminating many of the banks around the world.

The point is we need crypto to be protected and that is only done through true account ownership. If it is through a Facebook, it is not going to protect anyone. FB can just do what they want.

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I would've remained uninformed to this day if I didn't ride the Steemit hype back in 2017. Grateful for the people that introduced me to crypto even if they abandoned this place for other tokens. The things I've learned from here are truly enlightening and the worst feeling is knowing something but surrounded by the uninformed. I hope more people will wake up to the power the blockchain can do. And thank you for contributing to my cryptofinance learning. :D

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It is not something that is learned overnight and we all arrive at different paces. We also follow different paths.

We know it is vital to get people into this and embrace what is going on. This is the race that is taking place.

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