It is the tenth year celebration of the first block of Bitcoin mined known as the genesis block. January 3rd of every year marks what is known as the “Proof of Keys celebration,” and Bitcoin investor, Trace Mayer, invites crypto investors all over the world to make this year’s celebration one of a kind.
The Proof Of Keys Celebration
Trace Mayer revealed in a YouTube video of recent on what he described as the appropriate way to celebrate the first block of Bitcoin to be mined, which holds every on the 3rd of January.
In Traces’ opinion, the celebration should be aimed at an intentional Cryptocurrency exchange run. The celebration in his opinion ought to take the form of crypto investors and traders to withdraw their Bitcoin and Cryptocurrencies from third-party Cryptocurrency exchange on every 3rd of January.
Trace noted that the reasons for this form of celebration are a way for people to prove that Cryptocurrency exists on a blockchain and that exchanges are really in possession of the user’s deposited Cryptocurrencies.
The celebration which is more of a philosophical undertaking is noted by Trace as a way for people to declare their “monetary sovereignty” and also achieve accountability from third-party platforms. He stated that it is more important for investors to declare and re-declare their monetary sovereignty on a regular basis.
Further, as argued in the video, the celebration is aimed at spurring people to take control of their private keys. This very important according to him because of the surge in crypto investment over the past years, which most of them may not be conversant with the Cryptocurrency investing best practices.
The act of prompting crypto users to withdraw their Cryptocurrencies and to hold their private keys will make crypto investors become what Trace described as ”first-class Bitcoin citizens” and also prove their monetary independence.
Participating in Proof of Keys Celebration early Withdrawal
The celebration could lead to the exposure of fraudulent Cryptocurrency exchanges that are not holding the number of digital currencies they claim to be holding, and this could backlash on the investors.
This means that to participate in it and avoid the havoc of fraudulent crypto exchanges they should make their withdrawal early. Trace noted this by stating that they should be ”at the front of the line, rather than the back of the line.”
Meanwhile, the essence of this according to trace is to achieve ”monetary sovereignty” and achieve maximum security in case of exchange crash or hack.