I feel that as a community it is very important to come together and creating awareness to have our concerns heard. We have this amazing community that we can use as a tool to benefit us! Yes, there will always be shills but in reality most of us on here are on the same boat. We have money and/or passion invested in cryptocurrencies. Why not use this to protect ourselves in ways that could improve the future of cryptocurrencies. I want to bring everyone's attention to Exchanges Responsibility For Cold-Wallet Transparency.
I know many of you will argue that it might hinder the security of the exchange. I'm not an expert in the cyber-security field, but I find it hard to believe that this a dead-end with no alternatives. Considering the company's financials are set effectively; these exchanges are bringing in revenue in both bull and bear markets. With such a profitable business, the advantage of having such capital should gives them a wide amount of resources. When budgeting for exchange security, they should also be considerate of investors and tragic events. For those of you that use decentralized exchanges or P2P exchanges, this call to action may seem useless; but just viewing the high amounts of volume of regular cryptocurrency exchanges they clearly dominate this market. We are all human and in the case of a hack or lost funds we react with questions demanding answers. Having the ability to view the activity of cold-wallets (besides Monero), we can at least be able to verify information in the future and also feel comfortable in the present. If you take a look at the top 100 richest bitcoin addresses, you'll notice about 7 exchanges that are transparent with their cold-wallet addresses. This is a great step already, but more exchanges need to follow these protocols, and the ones that are currently transparent should even take a step to add this type of information straight on their website.
Basically, instead of waiting for something to happen in the future to post on this sub or use this sub to shill, we should all start using exchanges that offer this type of transparency. Always use a cold-wallet for the majority (or all of) your own cryptocurrencies. If you are still going to put your keys in the hands of exchanges, at least make sure to only use one that are transparent with their cold-wallet addresses. It may sound useless to some of you, but this will allow us to open source the activities that occur on their addresses. There are many benefits to using a public blockchain, one benefit is the transparency of records, so there is no reason for it to stop there. Lets come together as a community to make this concern worth something. A few exchanges might be more influential than some of us, but no exchange is more influential than all of us.
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