As many of our readers may already know, there is currently a large-scale campaign underway that aims to see bitcoin “withdrawn its support” from third-party wallets so as to move exclusively towards private wallets. In relation to the matter, it is worth noting that over the course of the past few days many prominent crypto personalities (such as Nick Szabo) have have added the “[Jan/3 🔑]” logo their their Twitter handles— so as to show support for the above mentioned campaign.
More On The Matter
A few days back, respected altcoin proponent and financial analyst Trace Mayer launched a campaign to celebrate something he refers to as ‘Genesis Block Day’ by withdrawing cryptocurrency to non-custodial wallets.
On the subject, Mayer was noted as saying:
“I want to start a new cultural tradition where we declare and re-declare our monetary sovereignty every Jan. 3 as a celebration of the Genesis Block”.
Lastly, Mayer’s Genesis Block Day in many ways signals a homecoming for BTC— since the movement aims to bring Bitcoin back to its original roots (where users can only store their funds in the noncustodial Bitcoin-qt client, and not on some external wallet service).
What’s Causing All This Hoopla?
As things stand, a large number of cryptocurrency owners do not even realize that they are not really in control of their funds (since many of them still store their digital assets in wallets owned by an exchange or some other third-party entity). Thus, in order for investors to really take charge of their funds, they need to secure their alt-assets in a private wallet.
Proof of Keys Movement Continues To Gain Support
As mentioned earlier, a large number of prominent figures from within the Bitcoin community have recently added the “[Jan/3 🔑]” icon to their official Twitter profiles as a way of showing support for this grassroots movement. Some notable personalities include:
- Max Keiser
- Caitlin Long
- Giacomo Zucco.
As a result of all of this, it now appears as though Jan. 3, 2019, is shaping out to be quite a monumental day for the Bitcoin community at large. If successful, the scheme will see a large number of onchain transactions recorded that day. This is because a sizeable upswell in the number of of BTC and BCH transactions can be used as a proof that the aforementioned Genesis Block Day campaign was able to resonate with the BTC/BCH community at large.
Whether or not this campaign is able to flourish and spread all over the globe still remains to be seen, however, it now appears as though the PoK (Proof of Keys) protocol will become a regular feature of the Bitcoin calender for many years to come.