A Call For Withdrawing Bitcoin From Exchanges Is Published
Reddit’s sotashi calls for withdrawing bitcoin from all the exchanges in honor of tenth anniversary of generation of genesis block:
“3/Jan/2019 Proof of Trust Event, 10yr Audit
The time has come for us to test what we have created. Trust in numbers yet we trust in exchanges, in people, in corporations.
On the 3rd of January 2019, 10 years on, let us all have withdrawn our BTC to wallets we control. Let’s see if it is all there, let us see who fails, let us see the network work.
We lose nothing, we risk nothing, those companies and exchanges that cannot be trusted will be exposed.
We must assert control, we must prove this is ours.
We need a time to coordinate, 16:00 UTC 03/Jan/2019 is as good as any other. By this hour let us have concluded our transactions and hold our coins in our wallets.
04/Jan/2019 we return to business as usual, with renewed confidence.”
Sotashi offered to withdraw bitcoins to wallets on January, 3rd, at 16:00 UTC. According to him, they will return to business the next day with renewed confidence.
Some of users commented it noting that the action would lead to chaos and would make people notice that it was not convenient to store the funds on the exchanges.
Note that most of exchanges store from 5% to 10% of the assets in hot wallets, the rest – in cold wallets. Thus, enthusiasts’ initiative may face considerable difficulties.
Bitfinex exchange’s cold wallet draws special attention: its balance has not changed for more than a month. But it is not excluded that the exchange has several cold wallets.