October 30, 2020

Trace Mayer Calls for Repeat Proof of Keys in 2020

Trace Mayer Calls for Repeat Proof of Keys in 2020

The organizer of the Proof of Keys campaign, Trace Meyer, once again urged the community to abandon cryptocurrency storage for third-party services.

Bitcoin Knowledge's lead podcast, Trace Meyer, on his Twitter account, has called for the Proof of Keys event to be held annually and repeat the event on January 3, 2020.

Mayer launched an information campaign calling for howmore traders can withdraw all crypto assets from exchanges to wallets that are controlled by users themselves. The action should be held under the slogan "Not your keys - not your bitcoins"

According to Mayer, such a coordinated conclusionuser funds from exchanges will prove the reliability of the network and conduct an audit of crypto exchanges. Such an audit will cost users "a few additional transaction fees."

The Proof of Keys campaign, which started on January 3 this year, showed that exchanges still have problems with the withdrawal of funds and falsify their trading volume for advertising purposes.

Supporting my determination to host an eventProof of Keys after 60 days, Trace Meyer indicated several exchanges that have lost user funds or have problems due to various factors, including questionable business practices, etc. QuadrigaCX, Mt. Gox and Bitfinex.