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Topic: Check if your exchange is fractional reserve day ? - page 2. (Read 288 times)

legendary
Activity: 3276
Merit: 2442
Trace Mayer has already come up with it, it is called: Proof of Keys, happens on the every 3rd of January

Every January 3rd the Bitcoin community HODLers of Last Resort participate in a Proof of Keys celebration by demanding and taking possession of all bitcoins held by trusted third parties on their behalf.

You can read more about it here:
https://www.tracemayer.net/
https://www.proofofkeys.com/

Or watch him:
https://www.youtube.com/watch?v=hquWmLCoCNI

hero member
Activity: 1680
Merit: 583
xUSD - The PRIVATE stable coin - Haven Protocol
no way
this scenario can bee seen if all bank users will try to withdraw all the cash they have in their accounts, but the BTC is on the blockchain, so you know every penny that is available
they can stop the withdraw, but cannot show fake numbers on their wallets, cause the blockchain cannot be faked
member
Activity: 224
Merit: 62
What if one day of the year, we got everyone to withdraw from the exchanges to see what exchanges are legit? and casinos.
I bet 80-90% of them would not have the btc to cover everyone.
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