Not Your Keys, Not Your Coins

[TheDigitalMan]

Does anyone know the date for the "Not Your Keys, Not Your Coins" withdrawel of crypto from all exchanges?  I seem to remember this being a thing.  Once a year everyone withdrew all their crypto off the exchanges to prove that the exchanges were being honest or if they weren't to rat them out.  I have googled and googled and cannot find a thing on this.  But I know it WAS a thing at one time.  Maybe not so much anymore but I would love to document the historical event.  I know it was an annual thing.  I'd really like the actual date that was set and used.  I'm thinking it might have been Bitcoins birthday, January 3?  But I want to be sure I document it properly if I am going to document it.

[TravelMug]

Does anyone know the date for the "Not Your Keys, Not Your Coins" withdrawel of crypto from all exchanges?  I seem to remember this being a thing.  Once a year everyone withdrew all their crypto off the exchanges to prove that the exchanges were being honest or if they weren't to rat them out.  I have googled and googled and cannot find a thing on this.  But I know it WAS a thing at one time.  Maybe not so much anymore but I would love to document the historical event.  I know it was an annual thing.  I'd really like the actual date that was set and used.  I'm thinking it might have been Bitcoins birthday, January 3?  But I want to be sure I document it properly if I am going to document it.

It was called "Proof of Keys" days, started January 3, 2019,

Video: Trace Mayer on Proof of Keys, Sovereignty and Bitcoin Privacy.

But obviously we don't want to wait for this event to happen. As a Bitcoin enthusiast, we shouldn't put our crypto in a 3rd party exchange as we don't have total control. An in cases that exchange is hacked, or collapsed or whatever, say goodbye to your BTC.

https://www.proofofkeys.com/ - timer

[Pmalek]

Does anyone know the date for the "Not Your Keys, Not Your Coins" withdrawel of crypto from all exchanges?  I seem to remember this being a thing.  Once a year everyone withdrew all their crypto off the exchanges to prove that the exchanges were being honest or if they weren't to rat them out.

The idea was for as many people as possible to withdraw their coins from centralized exchanges to prove if they are solvent or not. Of course, only some people would do that and take part in the Proof of Keys day. But not everyone would be interested.

As a Bitcoin enthusiast, we shouldn't put our crypto in a 3rd party exchange as we don't have total control.

If you must use a centralized exchange, then use it only to swap between the assets you need. After that, withdraw your coins to a non custodial wallet. Exchanges shouldn't be used as wallets. That's what beginners don't realize and it can cause serious problems.

[Aanuoluwatofunmi]

OP i think with he two response gotten already, they should be able to meet up to the required information you needed on this aspect, i will advise now that you may lock the thread to avoid spamming from others who may be commenting later, since the two replies received were already on pint and satisfying enough in answering your question, lastly, sometimes, you may just have to make use of the forum search engine in seeking for other relevant information, because they might have been already discussed here instead of you creating another thread on them.

[SatoPrincess]

I’m relatively new to Bitcoin and I've not heard of a ‘Private key day’ since I joined the crypto space. Maybe it is no longer a thing. I did a quick search on the forum and found some threads on the topic.

• Annual January 3rd Proof of Keys Celebration of the Genesis Block
• Is there anything called 'private key day'

Apparently it is just as Pmalek and TravelMug said. I’m not surprised the movement is not popular because big investors know that exchanges do not hand out private keys to their users and as a consequence cannot be used as storage for bitcoins. Exchanges are only good for trading.

[Catenaccio]

Does anyone know the date for the "Not Your Keys, Not Your Coins" withdrawel of crypto from all exchanges?

Not your keys, not your coins is the always valuable and true advice but each person will have different risk taste and acceptance so that he will leave bitcoins on centralized exchanges, online platforms where there is no private key given to the user. Or he will decide carefully to withdraw bitcoin on centralized exchanges or online platforms to his own non custodial wallets with private keys.

[Part IV] GET YOUR COINS OUT OF CUSTODIAL WALLETS NOW

[Yamane_Keto]

This initiative is good but exchange can have a reserve, create bots to make traders aware that there is liquidity and requests that can be executed. when exchange decides to exit scam, it will choose the time with the most deposits and then delay the withdrawal to steal as much as possible of the clients’ money.

[BIT-BENDER]

This would probably be a thing back then when there wasn't much adoption of crypto. But now the space is quite large for this sort of events to happen. Also you should not use your finances to prove a point you can get at end of something you would regret

It's an obvious fact that when you leave your funds on an exchange those funds are at risk regardless of the fact that the exchange has been proven to withhold users funds or not. You should not risk it.

[PrivacyG]

Does anyone know the date for the "Not Your Keys, Not Your Coins" withdrawel of crypto from all exchanges?

Every day is the date everybody should be celebrating it.  Celebrating this once per year seems like a risky game to me.  This should be the Golden Rule for holding Cryptocurrency Assets Safely.  Never keep your Money under the Custody of some one else unless required.  For example, Depositing only to Exchange your Bitcoin and then to Withdraw it is a mandatory transfer of Custody from you to the Exchange and back.

[Abu-Naim]

Does anyone know the date for the "Not Your Keys, Not Your Coins" withdrawel of crypto from all exchanges?  I seem to remember this being a thing.  Once a year everyone withdrew all their crypto off the exchanges to prove that the exchanges were being honest or if they weren't to rat them out.  I have googled and googled and cannot find a thing on this.  But I know it WAS a thing at one time.  Maybe not so much anymore but I would love to document the historical event.  I know it was an annual thing.  I'd really like the actual date that was set and used.  I'm thinking it might have been Bitcoins birthday, January 3?  But I want to be sure I document it properly if I am going to document it.

Nobody knows when the betrayal will be that is why the caption “Not your keys, not your coins” Is very vital and important for everyone in the cryptocurrency space to have in mind especially if they are using centralized exchanges or some closed source wallets.
Leaving your crypto assets on centralized exchanges don’t worth it because almost all the incidence of centralized exchanges bankruptcy don’t come with any sign, they just go with customers money with no refund.
To be completely safe in cryptocurrency space with your funds, make sure you move them out of exchanges to an open source wallets that you will have the private key in your possession so as to access it at anytime you want.

[Odusko]

OP i think with he two response gotten already, they should be able to meet up to the required information you needed on this aspect, i will advise now that you may lock the thread to avoid spamming from others who may be commenting later, since the two replies received were already on pint and satisfying enough in answering your question, lastly, sometimes, you may just have to make use of the forum search engine in seeking for other relevant information, because they might have been already discussed here instead of you creating another thread on them.

You are wrong to advice the ops to lock the thread, since his Questions was not a direct questions but somewhat a discussion topics that opens up alot of other item's aside from the proof of key day that the ops mentioned in the topic title, so let give ourselves sometimes to enjoy others comments and contributions,, for someone like me, I was not aware of such a day for celebrating and demanding that bitcoin holders who's coins are held on centralised excahges are ask to withdraw to their own wallet.
But from this topic, i have read alot on this topic and now have much information on the off exchange bitcoin day celebration, which give priority to custodial holding against non custodial excahge wallets.

[ranochigo]

Every day is the date everybody should be celebrating it.  Celebrating this once per year seems like a risky game to me.  This should be the Golden Rule for holding Cryptocurrency Assets Safely.  Never keep your Money under the Custody of some one else unless required.  For example, Depositing only to Exchange your Bitcoin and then to Withdraw it is a mandatory transfer of Custody from you to the Exchange and back.

It's not a celebration. It's an event where people are encouraged to withdraw their funds from the exchange to prove solvency.

There are better ways to prove solvency; ie. known cold storage address and regular proof of solvency conducted by the exchange. This movement doesn't mean much because the amount of coins withdrawn and the number of people that are participating in it is minuscule and is by no means a good way to prove the solvency of an exchange.

[Pmalek]

But from this topic, i have read alot on this topic and now have much information on the off exchange bitcoin day celebration, which give priority to custodial holding against non custodial excahge wallets.

You used the wrong terminology here. Centralized exchanges are custodial because you keep your coins in their custody. They have control of the signing keys for your bitcoin, effectively making it their bitcoin. When you create a wallet whose private keys and seed is exclusively in your control, that's called non-custodial. Electrum, Bitcoin Core, and many others are non-custodial. Binance is custodial. Don't let the "non" part of the term create negative connotations in your mind, where you believe it's associated with something that isn't good.

[Upgrade00]

This movement doesn't mean much because the amount of coins withdrawn and the number of people that are participating in it is minuscule and is by no means a good way to prove the solvency of an exchange.

It doesn help either if the date the withdrawal will happen is already known and the exchange can act to buffer its effects. Why panic withdrawals due to price drop or increase affects exchanges some of the times is cause they were unprecedented and the exchange will need to take some time to process transactions by first suspending withdrawals for a period of time.

Actual proof of reserves should be done by independent bodies with full transparency of the results and also access given to users to check the status of cold wallets

[Kelward]

Does anyone know the date for the "Not Your Keys, Not Your Coins" withdrawel of crypto from all exchanges?  I seem to remember this being a thing.  Once a year everyone withdrew all their crypto off the exchanges to prove that the exchanges were being honest or if they weren't to rat them out.  I have googled and googled and cannot find a thing on this.  But I know it WAS a thing at one time.  Maybe not so much anymore but I would love to document the historical event.  I know it was an annual thing.  I'd really like the actual date that was set and used.  I'm thinking it might have been Bitcoins birthday, January 3?  But I want to be sure I document it properly if I am going to document it.

I'm hearing of this event for the first time in this thread and I'm guessing that it's no longer relevant, if not it'll be popular and many crypto holders will be doing it. I don't think that there's any need to have a date for everybody to withdraw their funds from exchanges to proof a point because any exchange can be hacked or go bankrupt before or after everybody deposits their coins back inside them. The important thing is to have increased awareness about the importance of not leaving your funds in exchanges because of the obvious fact that if it's not your keys it's not your coins. I think that the phrase is the first lesson that I learnt in this forum, followed by keeping your coins in a none custodial wallet.

[TheDigitalMan]

It was called "Proof of Keys" days, started January 3, 2019,

Video: Trace Mayer on Proof of Keys, Sovereignty and Bitcoin Privacy.

But obviously we don't want to wait for this event to happen. As a Bitcoin enthusiast, we shouldn't put our crypto in a 3rd party exchange as we don't have total control. An in cases that exchange is hacked, or collapsed or whatever, say goodbye to your BTC.

https://www.proofofkeys.com/ - timer

Thank You TravelMug for confirming the date of the event for me.  I am working on a specific project and wanted to accurately include that event.  I remember it being a big deal back in the early days. While it may not be talked about as much or even done as much I absolutely agree that you must self custody your own crypto.  Otherwise you just don't own any.  But I'm preaching to the choir here.  I was surprised that there were people who hadn't heard of it.

Kresp.