Sunny Decree(To all BTC holders, Proof of Keys):

Proof of Keys Event on 1/3/2019

-1/3/2019 – 10 year anniversary of BTC genesis block.
-An event started by Trace Mayer where everyone will withdraw their BTC from the exchanges and put them in their private wallets.  The purpose is to prove the existence of all the BTC’s that the exchanges claim to have.

-Trace wants to make it an annual event.

-This event is to prevent the exchanges from doing what the banks are doing called “fractional reserve banking” in which only a fraction of bank deposits are backed by actual cash on hand and are available for withdrawal. 

-(Wendy)According to Bitcoin Ben, he heard from the CEO of HODLit, only Kraken has all the coins that they claim to have.  The other ones all are operating under the fractional reserve banking system more or less.

-The reason that the CEO of HODLIT knew this is because they are planning to have their own exchange; therefore they are doing in-depth research on it.  What they found is most exchanges don’t have the coins that they claim to have.

-Risk of the event - BTC trading volume will be low – opportunity for market manipulation.

Comments

Post a Comment

Popular posts from this blog

20181210-Paradise Fire-Centaurians

Edge of Wonder – Interviewed with David Wilcock on Paradise Fire : - Heard from his insider source- Henry Deacon from Project Camelot since 2007 -Paradise, CA – the most important small town in the US that provide safe haven for human like ET race, Centaurians.    There are many 500 – David guessed.    -There are only 2 cities like this in the US.   One is Paradise and the other one is in Neveda, but David doesn’t know where. -David had pictures where you can see laser beam came down from the sky to ignite the fire.   (DEW)?     -The fire spread so fast.   People didn’t even have enough time to get to their cars. -They can’t live above the ground for too long.   So they have elevator inside their house that goes deep down to the underground base.   Centaurians:               -they are from Alpha Centauri -buffed, tall, very pale, white hair, dark blue/violet eyes,...
Read more

20191007-New Russian Payment System to Avoid USD

Jim Rickard（ New Russian Payment System Avoids U.S. Dollar ）: -There is a new secure payments channel between Russia and Iran. This channel does not use dollars and allows Russia to sell weapons to Iran and for Iran to hide reserves in Russia, free of U.S. sanctions and U.S. interdiction. -Now Russia has unveiled an even more ambitious payments system.   This new system will provide services similar to SWIFT (the Society for Worldwide Interbank Financial Telecommunication), which is the leading bank message traffic facility in the world today for funds transfers. -In recent years, SWIFT has become politicized. Iran was banned from using SWIFT from 2012–16. Certain Iranian banks were banned from SWIFT again in 2018. -Russia has never been banned from SWIFT, but the mere possibility gives Russia a large incentive to create an alternative payments system not subject to U.S. control. With this announcement, Russia is getting closer to that goal. -The new Russian system may quickly be ...
Read more

20190114-Bitmain-BTC goes down to $1800?

Crypto Cowboy: Problem with BTC space – centralization of the BTC.       The 6 biggest mining companies in the world are calling the shots and they are mostly Chinese.   Also big banks are entering the space.    Right now it looks like Bitmain is going down. Bitmain – has gone through a lot changes due to price volatility, political pressure, regulations 。。。 -Two CEO/founders are going to step down. -closing its 500 million project in Austin, Texas -closing its Israeli research and development office  -cutting up to 50 percent of its staff  Probably because of it, there are a lot of big dormant wallets (50 – 100+ BTC) that are becoming active and more on the selling side.    However, a lot of these wallets are active in the OTC market not retail but their activity might still affect the prices in the retail markets.   So in the short-term, BTC price might even go down to $1800 .   If it does, Crypto Cowboy thinks it’s a go...
Read more