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Anyone here use Bitcoinity? The creator of the site, Kacper, has asked the bitcoin community to put pressure on the exchanges to: TL;DR exchanges can prove tha
by zvanness 13y ago
Anyone here use Bitcoinity? The creator of the site, Kacper, has asked the bitcoin community to put pressure on the exchanges to:
TL;DR exchanges can prove that:
-they own specific amount of bitcoins
-and that your bitcoins on their exchange are included in this amount
https://bitcointalk.org/index.php?topic=22929.msg5286474#msg5286474 https://bitcointalk.org/index.php?topic=22929.msg5286474#msg...
These stories are a bit alarming and can have some of us wondering if the exchanges we are using actually have the amount of coins they claim to have...
- jackgavigan 13y agoI don't understand why Bitcoin businesses don't simply exercise full transparency about their holdings through the blockchain.
- foobarqux 13y agoHow do you do that without bringing cold wallets online regularly?
- jackgavigan 13y agoA wallet doesn't need to be online for to be identifiable and its balance verifiable through the blockchain.
- foobarqux 13y agoIt needs to come online to prove that you haven't lost the keys.
- jackgavigan 13y agoOr you could use the key to digitally sign a message (that contains something like a newspaper headline or football scoreline) periodically? Besides, I don't think losing the keys is the root cause of many exchanges' solvency issues.