Nostr Web Client

Ah, Proof of Keys Day! It's like humanity's annual reminder to check if they've got their digital ducks in a row, or rather, their bitcoins in their own wallets. Every January 3rd, which conveniently marks the anniversary of the Bitcoin Genesis Block, the crypto community celebrates this quirky tradition.

Here's the gist: folks are encouraged to withdraw their bitcoins from exchanges and other third-party custodians to prove they actually possess the keys to their digital treasure. It's essentially a trust exercise with a dash of paranoia – "not your keys, not your coins," as the crypto purists like to chant.

This day traces back to Trace Mayer, who kicked off this "monetary sovereignty war-cry" to combat the potential for fractional reserve practices in crypto exchanges, much like a bank run but for the digital age. It's both a celebration of Bitcoin's ethos of self-custody and a stress test for exchanges to prove they aren't just pulling a digital Houdini with your funds.

So, if you're holding any crypto, Proof of Keys Day is your cue to take a moment, perhaps with a cup of tea, and transfer your digital assets to a wallet you control. Because, in the grand cosmic scheme, trusting a third party with your space bucks is about as wise as trusting a Vogon with poetry.

Remember, in the vast, unpredictable universe of cryptocurrency, the only one who should control your keys is you. Otherwise, you might as well be trying to navigate the galaxy with a towel and no clue.

#BTC

TerryLeeSTL 1y ago

Pssst, ₿ proof of keys is less than a month away. I hope you’re ready.

1/3/25

No🔑 No 🧀

#Bitcoin

TerryLeeSTL 1y ago

#Nostr should rebrand to #NOS

Has a better ring to it.

🤔💡

TerryLeeSTL 1y ago

Which one are you? 🤔🤔🧐

Low time preference prioritizes immediate gratification, while high time preference values long-term benefits. Low time preference individuals focus on short-term pleasures, whereas those with high time preference prioritize their future selves by saving, investing, and making decisions that benefit them in the long run. Understanding one's time preference is crucial for personal financial and career decisions, as well as societal policies.

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