PROOF OF KEYS: Why It Matters for Bitcoin and Why You Should Care

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In this video, Mattie talks about the proof of keys movement which takes place today. He talks about why it's important and why you must know this!
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References:

Proof of Keys, What it is and Why it’s Important

Proof of Keys, What it is and Why it’s Important

Proof of Keys Countdown Clock
https://www.proofofkeys.com/

The American Dream – Understanding Money and the Banking System

The American Dream – Understanding Money and the Banking System

Annual January 3rd Proof of Keys Celebration of the Genesis Block: Declare Your Monetary Sovereignty

Annual January 3rd Proof of Keys Celebration of the Genesis Block: Declare Your Monetary Sovereignty

2019 Is Seeing More Support for Bitcoin Proof of Keys
https://blog.blockonomics.co/2019-is-seeing-more-support-for-bitcoin-proof-of-keys-906d2884801d

Bitcoin Exchange HitBTC Freezes Customers’ Accounts ahead of Proof of Keys Event
https://www.ccn.com/bitcoin-exchange-hitbtc-freezes-customers-accounts-ahead-of-proof-of-keys-event/

What Proof of Keys Celebration is and Why You Should Care
https://toshitimes.com/what-proof-of-keys-celebration-is-and-why-you-should-care/

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PROOF OF KEYS: Why It Matters for Bitcoin and Why You Should Care

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28 comments

  1. Thanks for the information I been hearing about that all day. Can’t wait to see what happens

  2. Most reputable exchanges keep 90 to 95% of funds in cold storage. So people claiming an exchange is insolvent because it’s taking longer than normal to get their funds just experiencing normal procedural delays.

  3. don’t have my crypto on an exchange for many reasons, 1st – I own the key, 2nd – away from possible hacking theft. 3rd – Holding for a long time so no need to be on an exchange.

  4. What a great idea
    And it appears the cockroaches are already coming in to the light.. hitbtcConnect is one

  5. every exchange manipulates the volume along with insider trading ad wash trading. and no one can prove it. can anyone prove the lottery government controlled is not rigged ? happy new year Matt

  6. “What good is digital scarcity if exchanges can hypothecate and re-hypothecate?” my cat just asked me. 
    I had no adequate response so I gave him a sardine.

  7. Can you clarify.. I have been attempting to withdrawal my various crypto from binance to my ledger nano s.. I literally have failed to complete.. I think this is because the ledger version is 1.0.6.. not the most up to date.. but I’m having problems upgrading.. as I am with binance are they good to hold portfolio or am I right to be worried about binance throwing out my portfolio or at least exposing.. I am confused and worried.. regards

  8. HitBTC is a shitty exchange anyway. I don’t get why anyone would use them in the first place. Especially with so many competing exchanges that are better in literally every way.

  9. Daved Daly Though maybe this event will at least help “stress test” the exchanges’ procedures. I mean if there’s an exchange out there that has a good balance between safe cold storage and huge withdrawal volume capacity, this event will surely help people find it.

  10. I’m not doing it. I usually keep all my BTC in my own wallets anyway. I just happen to have mine up on Coinbase Pro because I’ve been selling the highs and buying back in on lows just trying to improve my position. I’m gonna just keep doing my thing.

  11. The only reputation HitBTC has, or ever had, is bad. Now it is *very* bad. Between the exorbitant withdrawal fees “to ensure fast withdrawals” (that seem slower than small exchanges) to taking nearly a year to list coins they said they would list (ETN) to mysteriously freezing withdrawals right before PoF…what’s that saying? If it walks like a duck, quacks like a duck….it’s a fook’en duck. I have no idea why HitBTC is even still a thing. They are the worst exchange I have ever used.

  12. HitBTC is garbage they still owe me my XMV from the airdrop… STILL. They trade all your crypto on their own and lose it.

  13. Exactly. These efforts are only screwing ourselves and creating FUD… We don’t need to do that, there is plenty done for us already

  14. +DragonOfTheSkies You’re talking about the sort of people who need to be told not to store their cryptocurrency on the exchange in the first place. Most would be annoyed/confused about the delays. It’s a good idea in theory… but getting enough people to have an impact is unlikely… proving/testing little.

  15. +Daved Daly Regardless, I’m very interested to see how all this plays out, and what effect it has on the markets, if any.

  16. volume yes defo.
    price will only spike if enough (a lot) of people sell alts in order to withdraw on/off ramp coins.

  17. I get the point but this is plain stupid. An exchange not having the capability to let all people withdraw their coins at once does not necessarily give you proof of lack of funding. Very high liquidity would lead to exchanges being much more vulnerable for enormous hacks.

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