A Decade of Being Your Own Bank

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Zack Voell - January 3, 2019

Thoughts on Bitcoin’s birthday, from our resident Bitcoin Mostimalist

Today marks the 10th anniversary of the generation of Bitcoin’s Genesis Block and the subsequent minting of the world’s first 50 BTC.

That’s sparked all sorts of celebrations from those eager to commemorate the milestone, yet one in particular stands out from the rest.

Investor Trace Mayer recently introduced an accompanying “test of trust” event aimed at testing the solvency of the industry’s major exchanges, whereby users would remove their funds en masse and ensure the industry’s largest centralized custodians were fully reserved. Not only would this drive accountability, according to Trace, but it would help individuals “learn real fast” about private keys vs. trusted third parties.

You can follow the “Proof of Keys” (PoK) event discussion here, and there’s a commemorative hat you can buy, (because of course there is).