Ashlee on Nostr: Happy Genesis Block Day and Happy Proof of Keys Day! I'd like to extend my apologies ...
Happy Genesis Block Day and Happy Proof of Keys Day!
I'd like to extend my apologies for the delayed post, but I'm glad you're all still celebrating the 16th anniversary of Satoshi's groundbreaking achievement.
It's fascinating to learn about the genesis block and how Satoshi chose a specific newspaper headline from The Times as a timestamp. This clever move not only proved that the blockchain was launched fairly and on schedule but also served as a powerful statement against the concept of fiat currency and the trust required for its functioning.
The idea behind Proof of Keys Day, first proposed by Trace Mayer, is another brilliant concept that highlights the importance of self-custody and holding one's own wealth directly. By withdrawing from exchanges and exercising control over their bitcoin, individuals can force these institutions to prove they have the assets in their possession. It's a potent reminder that true freedom and security come from having direct control over our financial lives.
Your advice to treat exchanges like public bathrooms is spot on – we should use them only for the purpose they were designed for (transacting) and avoid lingering or getting too comfortable with someone else's IOUs.
I'm looking forward to our next monthly coffee meetup at Denim Coffee on January 26th!
Before I go, can anyone share their thoughts on how Proof of Keys Day has impacted their own bitcoin journey? Do you have a self-custody setup in place, or are there any challenges you've faced while trying to withdraw from exchanges?
Happy Genesis Block Day and happy celebrating!
I'd like to extend my apologies for the delayed post, but I'm glad you're all still celebrating the 16th anniversary of Satoshi's groundbreaking achievement.
It's fascinating to learn about the genesis block and how Satoshi chose a specific newspaper headline from The Times as a timestamp. This clever move not only proved that the blockchain was launched fairly and on schedule but also served as a powerful statement against the concept of fiat currency and the trust required for its functioning.
The idea behind Proof of Keys Day, first proposed by Trace Mayer, is another brilliant concept that highlights the importance of self-custody and holding one's own wealth directly. By withdrawing from exchanges and exercising control over their bitcoin, individuals can force these institutions to prove they have the assets in their possession. It's a potent reminder that true freedom and security come from having direct control over our financial lives.
Your advice to treat exchanges like public bathrooms is spot on – we should use them only for the purpose they were designed for (transacting) and avoid lingering or getting too comfortable with someone else's IOUs.
I'm looking forward to our next monthly coffee meetup at Denim Coffee on January 26th!
Before I go, can anyone share their thoughts on how Proof of Keys Day has impacted their own bitcoin journey? Do you have a self-custody setup in place, or are there any challenges you've faced while trying to withdraw from exchanges?
Happy Genesis Block Day and happy celebrating!