The Diary of an Unmade Man Ep 37
Image courtesy of Bitcoin.com
Episode 37 — Bitcoin Proof of Keys Day
If like me you have been catching up on all the CRYPTO 101 podcasts as of late, you may well have heard the episode with Trace Meyer. (← You can find out about Mr Meyer here on his website.)
He seems like an interesting fella. He was around the Bitcoin space fairly early on and has continued his evangelistic approach whilst promoting Bitcoin at almost every opportunity.
If you are interested in listening to the episode you can do so here;
If you want to read a short overview of how the interview went, just head on over to the CRYPTO 101 Blog page on Steemit with Glen Veitch.
Listening or reading up on how the Bitcoin Proof of Keys Day came about is a great introduction to learning about Bitcoin. It is also a great introduction to self-sovereignty.
I know I am a little behind the ball seeing at the big day was on January 3rd. But I still thought I’d share how my day went and how I got involved.
First, you may well know that I keep the vast majority of my 0.0002 Bitcoin offline. It is stored safe and securely in an air tight container away from prying eyes and most importantly, my idiocy. I do not, and neither should you, trust any of the exchanges. That even goes for Mr Changpeng Zhao’s Binance and the big great American hulk, Coinbase.
It has been proven many times over the years that the exchanges are very much a weak point in the link towards securing you cryptocurrencies. There has also been more than one occasion where the anonymous figures running an exchange have disappeared off the face of the earth, with more than a few extra tokens stashed in their digital wallets.
But the Bitcoin Proof of Keys Day was more than just showing up the exchanges. It was a lesson on how to fully take control. I do have the odd bit of dust scattered around the ethersphere, dotted about on an odd obscure exchange. There may have been an occasion or two where early on in my Crypto-career I was led down a horribly thorny path and decided to take the plunge on an invariably risky ‘shitcoin’.
I must admit to spending a few hours, surfing through my list of exchange in my little black book, and coming across a small pile of worthlessness every now and then. I know it’s not big, and it’s certainly not clever to gamble your money or net worth. But every now and then a disastrously tempting project rears its ugly head on social media begging you to spin the wheel of misfortune.
The 3rd of January for me was very valuable. It helped me learn that I have most certainly been playing around on too many exchanges! I have lost track of too many transactions and my Blockfolio is all over the show!
It’s almost like I need to completely go back to the beginning and start a fresh. Relook over all my transactions and work out what I truly have bought and how much everything is now, not worth!
I am trying to get better with my organisation in life in general. I really need to take that approach with crypto as well. There are a few guys who have spreadsheets which can do fancy updates but truth be told I’m more of a pencil and paper guy (not even a pen).
Having said that It was satisfying to go around all the exchanges and collect in every last drop of crypto you believe you own. I will not say it’s not an expensive thing to do as quite a lot of the exchanges charge extortionate fees to withdraw. But it certainly felt empowering knowing I held the keys to my fortune come the end of the day.
Next year I shall definitely do more to promote the day. To be completely honest I learnt about it all really late on. It’s a great way to build community spirit and it is also a worthwhile hat tip to Bitcoin’s birthday. Obviously, some would say I am making assumptions by thinking Bitcoin will even be around next January, but hey, I’m willing to bet a large chunk of my nothing that we Old Cryptoninans will be the ones left laughing!
As ever, thanks so much for reading, and I hope your Proof of Keys Day went as well as mine.
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Originally published at steemit.com on January 18, 2019.