#proofofkeys

🇨🇳☠️ In China, users of #crypto-exchanges launched a campaign to withdraw funds from exchanges after difficulties with withdrawal. There were calls to withdraw coins on the balance sheet and close accounts. A more radical analogue of #Proofofkeys. #Like. (Shanghai, China) https://www.instagram.com/p/CE1gDSTgyz2/?igshid=2s06hido1lcs

Proof of Keys? Do you hold your own keys? @bitintro explains - Bitcoin is a bearer asset - meaning it is not an IOU (debt) and can therefore be fully owned without any counter-party risk. - However, if you leave your coins on exchanges, you risk losing them! You trust the exchange with your funds by giving them the control of the private keys which are needed to access your bitcoin. - Compare it to a receipt of a gold bar stored in some warehouse. If the warehouse sold your gold bc it‘s dishonest, has to shut down, is robbed (hacked in the case of btc), etc. you will lose your gold even if you have the receipt. The same applies to bitcoin stored on third parties. - Be sure to withdraw your funds regularly! This is called proof of keys and is collectively celebrated by Bitcoiners on 3rd of January as an reference to the inception of the Bitcoin network on 3rd January 2009. - Do you hold your own keys or do you trust the exchanges? 🧐 - ❤️ Double tap if you find this post valuable ⭐️ Save the post for later ✅ Follow us for real Bitcoin knowledge @bitintro . . . #bitintro #proofofkeys #bitcoin #bitcoineducation #privatekey #crypto #hodl #stacksats #krypto #kryptowährungen (at Vienna, Austria) https://www.instagram.com/p/B_DFe6MAPcr/?igshid=1dybi7d8e2wls

The campaign #ProofofKeys, which took place on January 3, showed that the #exchanges "know their customer", but the customers do not own their exchanges. https://www.instagram.com/p/BsgOLcMg6PD/?utm_source=ig_tumblr_share&igshid=ysdu19mmloof

#proofofkeys #Pok https://www.instagram.com/p/BsPvwaTgFVT/?utm_source=ig_tumblr_share&igshid=ynuhgz46br2f