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Speaking from a nursing perspective I would advise against this method. Although beeswax does not contain harmful chemicals it is not digestible. In a person with a young healthy colon this would probably not cause a problem but as you get older it's just not that easy. I could easily see this aggravating or possibly even causing diverticulitis or an intestinal blockage.
Let’s think about this. From the mid 1800’s to the mid 1900’s, cast iron’s heyday, did your ancestors use beeswax to create seasoning? Of course not. Animal fats created the seasoning and they worked wonderfully with normal cooking. The CI skillet lived on the stove, was used at least two times a day and never saw beeswax.
If a piece of cast iron was to be stored for an extended period of time, due to lack of usage or a long trip through hot and humid conditions then beeswax was applied as the perfect protector. Much better than fuel oil when it was time to cook in it again, and no rust.
I have found that CI cooks that camp and use fire or charcoal to cook, as well as beeswax, talk about reseasoning way too much. Not so from those that cook with animal or vegetable fats.
This may have been a victim of information being passed along too many generations without the correct details, and those who now believe work to justify the concept.
Hilditch