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RE: Discussion - What are reasons investors avoid STEEM?

in #steem6 years ago

I got some negative reasons why:

  1. No cold wallets
    Investors like storing their crypto in Ledger and Tezor.
    However storing steem is harder their. Investors even if they know can get a return aka investing in bots they just want to store in cold wallets. In order to create a cold wallet steem account, a fee needs to be paid to create the account and as such cold wallets aren't to keen to adding it.
  2. No Multi sig
    Multisig helps big investors not forgot and get hacked less while letting them store in a semi-hot wallet.
    Coinbase custoday might fix that but it not as good as multisig

IDK anymore. Well comment if I can think of anymore

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Good answers. We do have multi-sig though btw :)

we do? I asked/googled before but could not find any info on it.

I'm not sure how current it is, but here is an old article on it. I know multi-sig is still supported, even if the piston library referenced in the post is not. (Hopefully it should at least be a starting point.)

https://steemit.com/piston/@xeroc/piston-how-to-use-it-for-multisignature-accounts

Interesting...
This would help create more trusts in big time investors. Now maybe with the new HF, the ledger issue can be fixed. Instead of paying in steem, the wallets pay in Resources credits. Might cost alot of steempower thought so maybe steemit inc can use their stake and help create accounts for the wallet companies? Almost every top 50 crypto is on ledger/tezor. So I think after the hardfork, steemit inc needs to get in contact with one of them. This was more investors would feel safe buying their steem. Plus the cooler part is that they gain steem as well just by hodling securely :P