Just to clarify that I also further clarified after my quoted post, that the application constitutes an expression of speech, and the omission of explicit consent, is fraud. Lies by omission. No matter how well intentioned, and as I have been informed, this arrangement is to my detriment as my accounts are too big to qualify for the reward posts.

So I stand by what I said, and I laugh at the flag that was pinned to it, especially after I already qualified this.

Beneficiaries are a great idea, and I see many potential applications for them. However, I will drop a meme in here to express my frustration with Steemit, Inc., whose 'omissions' and lack of followthrough on everything (this means you @ned after your skype chat with me 13 months ago, and still no action on the subject of that conversation):

Also, since I know very well the architecture of these node.js based applications, which includes almost every interface to the steem blockchain, they all depend on a security model in which, mostly using steem.js, the keys are not ever sent over the wire, but used by the app locally to sign transactions before sending them through a websocket. It is good of you to explain this. The security model puts all these sites and apps square above even Gooogle for protection against wiresniffing attacks (such as malwares altering firewalls to catch the cleartext before the SSL tunnel, modified hosts files, etc).

Also, the steem blockchain has better protection against elliptic curve signature malleability, which can be used for replay attacks on bitcoin and others, though I have not personally read of documented cases of this - I recall reading a post by Dan about how the algorithm in Steem works.