I was talking to a friend about Hive today. I explained how writing and earning work. I explained the keys and permission. I explained post payout. I explained voting power, voting weight, joining contests, and of course, engagement. He took some of these with a grain of sad, until, I mentioned he could actually join Hive as an investor, not as a writer.
Source
I could tell this part tickled his fancy because he suddenly had questions upon questions around how much ROI he will get, for how long, and how much he needed to start earning a reasonable amount. I worked the numbers for him, and of course, mentioned that market conditions have a lot to do with his expected ROI so he could have a margin of safety in mind. He seemed excited about the whole ideology and before I knew it, he asked the most important question.
He asked;
How safe is the money on my account? How safe is my wallet? I hope it's not something that I'll wake up in the morning and find out my account has been suspended.
This question made me smile. This is because we already know that when you remove earnings, writing, & investing from the conversation around Hive, we have the most valuable thing that WEB2 accounts and platforms do not have.
There is no such as censorship.
You see my friend already knows what it's like to have accounts suspended, or outrightly taken away as a result of one or two activities that may not have been his fault. For instance, I read acidyo's post today, and he was trying to point out how starting a YouTube channel would look like for a beginner and the various challenges they will face. It all boiled down to censorship.
The fact that YouTube would take down his account just because he did not want a negative comment as the first comment on his first post, so he had to delete it, is something that we see happen on WEB2 every single day. People go around punishing others for not doing what they feel they should be doing. Like the human who could have dropped the negative comment on his first YouTube post feels bad about being ignored and suddenly launches an attack on his account. This would definitely make YouTube take his account down.
Censorship has nothing on WEB3. No one will outrightly take it from you unless you misplace or expose your keys to the wrong person. No one burst accounts on WEB3. You have freedom of speech. You can speak vulgar language with a group of friends of yours in the comment section and no one suspends or flags your account.
This is something I explained to my friend. I told him there was no way in hell his account would be taken. So he could be sure that his money is safe and he won't lose it to the Mark Zuckerberg kind of situation where ad accounts get frozen or taken down with all the money in it. It doesn't happen here.
Your money is yours to do as you please. And you are sure nothing will happen to it unless your keys are compromised.
The best part is that the "not your keys, not your coins" isn't applicable because this is a wallet, not an exchange where some factors could lead to losing funds and rug pulls.
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