When Not Owning Your Keys Bites You in the ButtIn November, purchases of BCH (Bitcoin Cash) were through the roof; the overbought nature being associated with notion that BCH was going to fork, thus giving the holder of that coin an equivalent amount of the newly-created coin derived from the fork. Exchanges, like Binance and Coinbase, made claims that holders of BCH before the fork, on their respective exchanges, would indeed be given their newly created Bitcoin Cash SV (BCHSV) coins soon after the fork and market stabilization. While Binance soon offered the BCHSV to customers, Coinbase STILL has not made these coins available to their customers (and good luck getting any response from customer service). This is unfortunate as I cannot access these coins because I trusted the exchange, which owns the PRIVATE KEYS for those coins; the availability to take ownership of what's rightfully mine is lost. If I had kept my BCH in a non-custodial wallet (again, where I hold the private keys/recovery words), such as a desktop wallet (ElectronCash), or a mobile wallet from a reputable store (Google Play / App Store: Atomic Wallet), I could have gained access to the new coins right away, and then could make decisions with what to do with them at the time of my choosing. This is not meant to disparage Coinbase, as they generally offer a great service by making cashing out Bitcoin/cryptocurrencies transparent, simple and cheap. They also allow simpler access to being able to buy/sell/trade your crypto assets. However, your coins are at their mercy, and subject to loss from the centrally-located exchange being hacked, freezing of your account, or in my case, lame-duck refusal to pass ownership of new coins from a fork. Trace Mayer is behind the Proof of Keys celebration, of which the mission statement is, "Not Your Keys; Not Your Bitcoin". January 3rd marks this next 'celebration', and we also encourage everyone to do this, and exercise the fact the your cryptocurrency is YOURS. Beyond this, it's an exercise in ending our reliance on a 3rd party money transmitter, a concept which is highly important for cryptocurrency holders, but also a very new one. Finally, the movement to get HODlers to pull their funds from exchanges also functions as a stress test for the xchanges themselves. This exposes any exchanges untruthfulness regarding the amount of crypto they actually hold, and forces these exchanges to be held accountable for the liquidity of their users' funds. We hope you join the community in this, as it shows the real power the HODLers have, and that we cannot be controlled or manipulated by these centralized exchanges. Checks and balances are something we don't consider when we think of traditional banking, but this is cryptocurrency, and here we do have the power to enforce such checks. Below are quick tutorials on withdrawing cryptocurrency, specifically Bitcoin, from both Coinbase's exchange and from Square's Cash App. Best of luck, everyone; now let's exercise our rights, and the freedom to control our own assets!
*Always be sure to PASTE in an address, never enter manually*
*Coinbase uses a SEND MAX feature in the AMOUNT box, using this function on the BTC box works best*
*If you've already enable withdrawals, you will skip the first 2 parts of this step*
*Either scan a QR, or you'll need to paste in the address, then confirm by pasting again*