Proof of Keys

Hello, friends! In honour of 10th anniversary of genesis-block generation Trace Mayer suggested that users start a tradition of annual withdrawal of their BTCs from the 3rd-parties to prove that we do have access to the keys and these Bitcoins are ours, not of somebody else who uses our account, and that exchanges actually have our funds.

This withdrawal is safe. The only money that the users will lose is the transaction fee. It is not a significant amount, especially if you think of it as a way to make sure you still have control over your BTC. Proof of Keys will easily reveal companies and exchanges that are not trustworthy if there are any troubles with funds withdrawal. Many companies and influential crypto experts supported this idea and posted their thoughts and results of their withdrawal on their social media.

The key to the success of this movement is that all users need to do it at the same time. The time for the withdrawal was set on 16:00 UTC 03/Jan/2019. And even though many people did it a few days earlier or later than the chosen time, there were some issues on many exchanges.
Proof of Keys has its own site and recently another page called Failures was added. All the issues that users have already encountered are published there. And many big and popular companies are believed to have failed PoK. For example, HitBTC froze accounts of its users before the PoK time. Bitfinex, Poloniex, Coinbase Pro, Purse, and Robinhood were also reported with multiple users posting their issues with screenshots as proofs.

Most companies stated that they are now aware of the problems in their systems and would solve them as soon as possible. They also said that there is no need to worry, everyone`s funds are secure. We hope that the issues will be gone soon and the systems will keep working properly.

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