I challenge the Bitcointalk community to make 2020's Proof of Keys the most impactful one yet. But it will take you reposting the writeup and raising awareness. Protect your fellow cryptocurrency friends from HitBTC's fraud.
This is the longest-running and possibly largest scale fraud that has ever taken place in our industry. This deserves your time, at least to skim through the post and share. Price talk can wait. If you're "in it for the tech" speak with actions, not words.
And yet banks have been doing this for more than a century just fine, and no one cares. As time passes i think the temptation will only increase, and the shadier exchanges/online wallets will do fractional reserve in secret, just like bankers did before it was made legal by their own lobbying in the 19th century.
Last year no site failed because of the event. If anything they can be prepared for it, its kinda useless to tell them in advance. Its like they can simply borrow some money for a few days, not unlike a bank avoids bankruptcy when their central bank loans them the money needed to wait for things to "calm down".
Bitcoin day should be named as such, and sure you can celebrate it among other things by withdrawing all your money from any online wallets in advance, among other rituals you may have. But don't delude yourself thinking that because the site still operates after Jan 3 means its safe. Not in your wallet, means not in your control. You don't (and should not) wait for Jan 3 to find out.
Make sure you participate in the service discussion area for any specific claims against specific sites...
When you say 'banks have been doing this' what do you mean? Fractional reserve is one thing. Selective scamming ran by an anonymous team pretending to be conducting AML? Very weak analogy. I see the direction you're trying to go here, but it's apples and oranges -- and I'm critical of banks, too.
This year. we can make HitBTC fail. I concur such efforts should not be isolated to Proof of Keys, but how fitting would it be to have that be the time HitBTC is too insolvent to even pretend to function?