Bitcoin might disappear from the exchanges after the “Proof of Keys” 2020

After the annual event of “Proof of Keys”, to be held in 2020, Bitcoin could disappear from the exchanges. This is according to what is established by the organizer of the event, Trace Mayer. Mayer, the host of the podcast Bitcoin Kwoledge and organizer of the event Proof of Keys, chose to disseminate the information that I knew before the 3rd of January. In fact, it is in your tweet November 5, where it insinuates that Bitcoin might disappear from the exchanges. But, why is set this postulate? So on this second anniversary, Proof of Keys poses a challenge to the HODLers of Bitcoin. This is because you want to force them to take control of their cryptocurrencies and stop relying on external entities, such as exchanges, to do this. Mayer still stands out frequent implosions and seizures of currency as an argument for investors to control themselves access to the funds. Does all of this framed in their motto, “are not your keys; it is not your Bitcoin”. For the Proof of Keys 2019, during the promotional video, there was also an emphasis on these ideas. “A lot of people just don’t want others to have their own private keys and make your own consensus on the network”.

January 2020, the key date

It makes so much emphasis in January 2020, because then the 3 of this month, will block the genesis of Bitcoin. It is for this reason that it is recommended, at least in the opinion of Mayer, withdraw all of the funds of the exchange houses. This represents a major dilemma for all members of the community cryptography. Especially for newbies, who should decide what is the best way of storing your funds. The defenders of the postulates of Mayer ensure that even the houses of change most well-known continue to have risks of cyber-attacks. On the other hand, the purses of hardware or “portfolios cold”, they are still subject to various criticisms. The official website of Proof of Keys, also mentions this, explaining that: “This simple exercise costs little, perhaps just a few transaction fees, but proof of the possession and strengthens the consensus of the network. The companies and the exchanges should demonstrate their reliability and consensus.” Although the arguments of Mayer may seem justified, many have their reservations for the stance you are taking. This is because it can be considered a position somewhat extreme. In addition, are left without many alternatives to the members of the community cryptographic on where to store your assets. The following two tabs change content below. I am a student of International Studies, interested in new technologies and their impact on the world. A true believer that tenacity is the foundation of success.

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About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.