Exactly. It's Hive being powered up, but permanently. Permanent staking.
Although, @yintercept did bring up a good point, it’s only as permanent as selling your account unless you program it in a way that you cannot do so.
If we reset the master password to the account, I believe that changes all of the public key/private key pairs of your other keys such as posting, active, owner, memo.
So, I wonder if it can be created in a way where you also have a burn key? If you reset the master password, it would destroy the public/private key pair of the burn key.
People sometimes change their passwords for security reasons.
For example, I changed the passwords for both my HIVE and SteemIt account after the Justin Sun fiasco.
I change my passwords anytime I feel that my password vault may have been compromised.
I would see any system that destroyed money in my account for engaging in routine security to be problematic.
BTW, if I sold my account; I would do so by simply giving the buyer the master keys along with the promise that I would never use the account again. When Ned sold out to Justin he did so simply by handing Justin the keys to the kingdom.
That is a flaw. If you had to change the PoW for security reasons, it would destroy access to the PHP. Hmmm. So that would probably not be a way to implement it.
I’m pretty sure though that anyone who receives a purchased account would change the master password. If you are storing value in the account, you’re not going to just trust they’ll never use it again. The only secure way would be changing the master pw.
That would be problematic if you destroyed the value simply by changing for security reasons.
Is there any more incentive to sell an account with permanent staking vs selling an account today loaded with HP or liquid Hive?
Quite frankly, I think that the ability to sell accounts is a good thing.
While individuals would prefer to power down and sell their accounts. Businesses are prone to think of their social media accounts as assets that they buy and sell as assets.
So, lets think about the entrepreneur Bob who likes to provide examples. He owns the company Example Inc which provides examples on domains like example.com, example.org, etc. Bob decides to hawk examples on Hive with the account @example .
When Bob decides to retire, he is likely to sell Example with all of its assets including example.com and the Hive account @example.
Okay, so maybe example.com is not a good example.
The basic point is that businesses tend to develop their social media accounts as assets. Business leaders buy and sell assets on a regular basis. This is what businesses do.
It seems to me that the HIVE community should encourage businesses to think of their account as an asset that they could buy and sell.
Quite frankly, I think that businesses would be more likely to buy HIVE and start using it as a currency than individuals.