Cryptocurrency holders are planning to celebrate the 10th anniversary of the Bitcoin (BTC) genesis block by withdrawing all their cryptos from exchanges.
“On the 3rd of January 2019, 10 years on, let us all withdraw 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.” – reads the post on Reddit. – “We lose nothing, we risk nothing, those companies and exchanges that cannot be trusted will be exposed.”
Who is coordinating this isn’t very clear, with some dubbing it Proof of Solvency or Proof of Trust.
At press time, there are 25 comments on the post.
“If your plan is to send the funds back the next day, then don’t waste your time. This will not work and you will still lose your money eventually, regardless of whether the audit result is that the service was solvent or not,” – wrote one of commentators. Another Reddit user expressed his opinion, writing:
“Tons of withdrawals will probably seems suspicious and some of them (exchanges) will stop withdrawals for security reasons.”