Quote from: pooya87 on December 15, 2019, 05:56:43 AM

Quote from: raindropactual on December 14, 2019, 04:00:22 PM

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Nobody is saying to stop trading completely, or to disavow from all exchanges.

Proof of Keys suggests to withdraw from exchanges, sure -- but does not say to do so permanently, nor to stop trading.

The particular undertaking I'm advocating for is a lot more specific.

The fact "nobody cares" (which isn't true -- this has gotten a fair bit of traction, but perhaps you're remarking on the ratio of interest on this topic relative to moonlamboprice talk) is a problem in the industry.

Your analogy has zero foundation.

i am talking about the market disruption that such actions would cause and the fact that it will not solve anything at all. it is not about "moonlamboprice" but it is about price. lets take a look at the event.
what is it trying to prove? insolvency of exchanges. how many would participate? 1%? 5%? 10%? 100%? i'd say it is small around 5%. even the worst exchange at the brink of extinction could pay that many users and fool everyone that everything is OK! so what would be the result of the event? it proved that an insolvent exchange is not insolvent! all the while create some unnecessary transactions on the mainnet (ie. spam) twice, once when they withdraw and another time when they re-deposit.

now lets say bigger percentage like 80% participated. the result would be to prove a single particular exchange is insolvent but also it will create chaos in the market as now the remaining 20% control the price. they can easily push it in any direction they want, you can wake up and see price has gone up to $18k or has dropped to $3k because there is no support or resistance anymore as 80% of the market has abandoned it.
and not just that, every single exchange out there would start having problems as they can't pay all their users right away since they keep most of their coins in cold storage that takes time to retrieve.

that is why i don't see anything good coming out of this... but i guess we will see once again how the results of it are going to be in a month from now like last year Cheesy

The amount that participate depends upon the amount that care enough to spur such participation. If I had to guess, if 10% of the wider industry/cryptocurrency users were aware enough to participate, it'd be the end of HitBTC. It's totally achievable. This isn't isolated to Proof of Keys, either. If more people were warned about Bitconnect (and heeded those warnings earlier,) the fraud wouldn't have gone on as long and less people would've been burned.

It sounds like you disagree with some elements regarding Proof of Keys, which would be a whole other debate. However, if you can't get behind folks running the hell away from HitBTC, well... oof.