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      "permlink": "steemitboard-notify-delfrigus-20200124t072356000z",
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      "body": "Congratulations @delfrigus! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@delfrigus/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@delfrigus) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=delfrigus)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "title": "Coinbase overthrown - Robinhood starts trading Cryptocurrencies",
      "body": "It is no surprise to me, that Robinhood has decided to launch its own Crypto-app, afterall, Cryptocurrency's are not only exponentially getting bigger- but also because it would be an easy way to make profit for them; see [Long Island Tea stocks](https://www.cnbc.com/2017/12/21/long-island-iced-tea-micro-cap-adds-blockchain-to-name-and-stock-soars.html).\n\nThis move by Robinhood, obviously is not because they actually believe in Cryptocurrency's future, but is to take advantage of the craze behind everything Blockchain, right now. There will be an influx of new money coming in, and the people who never invested in ETFs or stocks but put money into Crypto because they think it will make them a quick buck, will indeed begin using Robinhood over Coinbase. Why? Because unlike Coinbase which [made $1,000,000,000 in revenue last year](https://www.recode.net/2018/1/22/16911692/cryptocurrency-bitcoin-trading-coinbase-revenue-secondary) from charging incredibly high fees, Robinhood has zero fees. They make their money off of interest charged on money unspent. And with a wider variety of Crypto-selections, this has opened up the door for people looking to gamble in the Crypto-space to the stock market aswell.  Most of the people spending money on Cryptocurrencies are not Wallstreet businessmen, but rather the layman. People who think trading stocks is too complicated, when in reality it's not. So for Robinhood, trading Crypto is in fact a good thing, since regardless of whether Crypto is a boom or bust, they would still keep a lot of the people who comes to decides to stick around.\n\nhttp://blog.robinhood.com/news/2018/1/24/dont-sleep",
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      "body": "1. I think it would be possible for 2FA to be used with a blockchain, but who would be sending the code in a decentralized network like a blockchain? However, *multisignature* accounts on Steemit do exist, so you can make an account with several private keys if you wanted to.\n2. I think the centralization here is to prevent obvious spam from entering the network. Obviously a freshly created account dispenses little value in a vote, but if you can create thousands instantly, then you could exploit the rewards system pretty easily. However, I strongly agree the centralization should be avoided and I wish a different approach was used.\n3. Every witness on Steem runs a node that produces a block, so there is a decent amount of synced nodes, but yes, still not as decentralized as other blockchain networks.",
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      "body": "@@ -3904,8 +3904,161 @@\n correct?\n+%0A%0AOverall though, regardless of my concerns, I am very impressed with what I have seen of the website so far, and can't wait to use this site a lot more.\n",
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      "parent_author": "",
      "parent_permlink": "steemit",
      "author": "delfrigus",
      "permlink": "first-time-using-steemit-some-questions-security-and-centralization",
      "title": "First time using Steemit, some questions: Security and Centralization?",
      "body": "Hi there,  I am fairly new to Steemit and Cryptocurrency's in general, and I decided to create a Steemit account as I really liked the concept around it. However, upon creating an account, there were some minor concerns that crossed my mind- to which I decided to further research into this decentralized website. I did not really find much answers, and though **my concerns are fairly minor**, I still would like some answers, which is why I would like to consult this platform's users- hence why I am making this post.\n\n# <center>Concern 1: </center>\n## <center>Security</center>\nThis is probably the smallest problem which I think I will be mentioning in this post. One thing which this platform has that most doesn't, is a private posting key, which acts as your password.\nhttps://steemitimages.com/DQma7abVWAG7v3UjX1cMkdXdsKWPwNWAx2JZJ9cNVb6dx3n/image.png\nIf I am not wrong, this password is the private key to your wallet which is keeps your funds. This would mean that if someone somehow through bruteforce, guesses the password to your account, they would have access to all your funds immediately; though practically speaking this is nearly impossible, and as a counterargument it would be *harder* to get a computer to guess a randomized long password than a regular, 8 digit, 1 capital letter, 1 number, and 1 symbol, password- which would still compromise your funds if someone gets your regular password. *Which is why this is not my issue with Steemit.* My problem with Steemit is the lack of a 2FA.\nAs highlighted earlier, even if the private key to your wallet is not your acting password, the moment your account is compromised- like in most exchanges, so is your wallet. One way they try to mitigate this problem, is the implementation of a 2-Factor Authentication, which Steemit does not have. Whether it is simply email 2FA, SMS 2FA, or Google 2FA, none of these are options, so when I log in from a new computer or try to access my wallet, I am free to do so as I please with just the private key. So to ensure the utmost security of my account, am I supposed to memorize my private key, not leave it in a digital form, and to type it out slowly every single time I log in- and avoid logging in whilst connected to any public network? Or do I have to re-generate a new key every week, to ensure that my previous key will be made void of use, to protect the security of my account? \n**Neither of these solutions are too much of a hassle for me**, but it just seems odd that there is no added security of 2FA, and the need to log in with your private key.\n\n# <center>Concern 2: </center>\n## <center>Centralization</center>\n[Steemit is a privately held company.](https://en.wikipedia.org/wiki/Steemit) \nNow before you say in response that most Cryptocurrency's do have a company backing it, I don't really care about the private company part. What I care about is that this private company, is the one approving who does, or doesn't, join the website\nhttps://image.prntscr.com/image/mis4seM-RMeD99xqDUvrhQ.png\nEven in regular centralized social media platforms, there is literally no waiting period for when your account will be approved of by the company running the platform. All you have to do is create an account, verify your email, and that is it. **Yes, I am aware of the anarchist principles behind the website.** But why must a supposed censorship-free platform, require you to be approved to join said community? It literally doesn't make sense to me. Unless there is a reason behind the approval system, and it is completely transparent, I really don't understand why this is even necessary?\n\n# <center>Concern 2.5: </center>\n## <center>Centralization within the blockchain</center>\nFairly simple concern of mine: \n**3 second blocks + 2 GB sized blocks = not all nodes can sync with the blockchain = not so centralized or distributed**\nWhy or how is this assumption of mine incorrect?",
      "json_metadata": "{\"tags\":[\"steemit\",\"questions\",\"answers\",\"help\",\"solution\"],\"image\":[\"https://steemitimages.com/DQma7abVWAG7v3UjX1cMkdXdsKWPwNWAx2JZJ9cNVb6dx3n/image.png\",\"https://image.prntscr.com/image/mis4seM-RMeD99xqDUvrhQ.png\"],\"links\":[\"https://en.wikipedia.org/wiki/Steemit\"],\"app\":\"steemit/0.1\",\"format\":\"markdown\"}"
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