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The event Test of Keys is promoted by Trace Mayer, who invites us not to rely on third parties.Encourages bitcoiners to run their own nodes and manage their own keys.This 3 of January, when the block genesis of Bitcoin fulfills its eleventh anniversary, takes place on the second annual event called “Test Keys”. The activity, which is the result of a proposal by the investor and youtuber Trace Mayer, focuses on the idea of encouraging bitcoiners to check out the houses change all the balance that they have in bitcoins and store it in a wallet without custody.With this initiative, participants attempt to rescue the monetary sovereignty that offers the criptomoneda, as well as the solvency of the exchange platforms. We celebrate the publication of the first client program open source and the mining of the first bitcoins that occurred on 3 January 2009.De according to what is stated in the web site of “Test Key” (PoK, for its acronym in English), launched by Mayer, the event will help identify what exchange houses are operating with sufficient liquidity, which essentially means that it allows to know which ones have enough bitcoins on hand to cover 100% of the balances of the users.It also emphasizes the educational component of the event, since it not only encourages new bitcoiners to run their own nodes, but also to learn and to manage their own keys, to the time they inherit the philosophical ideals themselves of the sovereignty of Bitcoin.All the people that have bitcoins stored on an exchange platform can participate in the “Test Keys”. To do so, you simply have to download a wallet of cryptocurrencies, open-source and non-custodial. Then, this January 3, should transfer all your balance to the portfolio and at least maintain it there throughout the day. When you do this, “you officially are an owner of bitcoin, as it possesses the private key of your belongings and does not require the permission of a third party to mobilize funds,” notes the web site.
An event with philosophy
By putting the emphasis on the sovereignty, the “Test-Keys” it will also serve to remember the cases in which the exchange houses were hacked, in addition to other problems that have led users to lose their funds in an irreversible way. It is for this reason that Mayer invited to make this event forms part of the culture of the community Bitcoin.In the video that was used in December of 2018 to promote the activity, Mayer qualified for the bitcoiners in three classes: first, those who have in their possession the private key of its assets; and the second class, who are the property of the third-class citizens, who are not owners of anything. “If you are a citizen bitcoin of third class, there is something that the history of this space has taught us, and that is that one of these days, you can be shipwrecked”, he said referring to the users who have lost their funds in the hands of third parties.Mayer also speaks of the need for users to educate themselves and know the ecosystem. In your opinion, someone who has small amounts of bitcoin you should download and run Bitcoin Core, as it is one of the pieces of software to be audited and tested. While for more advanced users, who want greater security, mentioned the cold storage.Last year, during the celebration of the first “Test-Keys”, there were no major complications in the market. Although there was an increase in the volume of transactions during the day, there was a substantial increase in the commissions of the network.