Proof of Keys Day celebrates Bitcoin’s Genesis block and financial sovereignty

By December 29, 2019Bitcoin Business
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  • To celebrate the Genesis Block of Bitcoin on January 3, Trace Mayer has proposed an annual celebration called Proof of Keys Day.
  • The event encourages Bitcoin owners to withdraw their funds from exchanges and transfer them to external wallets.

In a few days the “Proof of Keys” day will be held again. This day will be celebrated on January 3rd and is an initiative of Trace Mayer, the founder of the podcast “The Bitcoin Knowledge”. The date was chosen by Mayer to celebrate the Genesis block of Bitcoin when the first BTC block was mined. The goal of the event is to raise awareness for financial sovereignty within the crypto community.

Not your keys, not your Bitcoin

Perhaps one of the most famous phrases in the crypto sphere is the phrase, “Not your keys, not your Bitcoin”. This is also the slogan of the event created by Trace Mayers. The podcaster explained that he wants to start a new tradition to draw attention to the importance of financial independence:

Where we declare and re-declare our financial sovereignty every January 3rd, as a celebration of the genesis block. (…) there are many interested in people not having their private keys and running their network consensus.

Mayer outlined the goal of the event, saying that the purpose is to encourage investors to withdraw their money from exchanges. The participants of the event are supposed to transfer their funds to a Bitcoin wallet and thus take control of their private keys.

The event is technically simple, but it is important because it promotes the education of Bitcoiners. It is especially important for newcomers to talk about this fundamental aspect, as Mayer emphasizes in one of his videos about the Prook-of-Keys day. Many people are not aware that the Bitcoins belong only to the person who has access to the key to the wallet in which they are stored.

The event also aims to familiarize users with the different types of Bitcoin wallets and the topic of money sovereignty. In particular, a debate on the role of exchanges in the crypto-scene is intended to be initiated.

Less than 60 days until #ProofOfKeys. Who is participating in 2020? Change your handle yet? [Jan/3➞₿

The event encourages Bitcoin owners to […]

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