04-15-2023, 09:01 AM
Monerun will take place on 18th of April. Let this be a moment for all crypto projec
<!-- SC_OFF --><div class="md"><h2>Joint community action</h2> <p>After years of observed malpractice, mysterious withdrawal halts and manipulation tactics by many of the big CEX, the Monero community was simply fed up with the lies. So they initiated the first Monerun in April 2022, a quasi bank run on centralized exchanges. And just as assumed, many of the big CEX had to halt withdrawals for days or even weeks.</p> <p>This years <a href="https://np.reddit.com/r/CryptoCurrency/comments/12kpj7n/the_monerun_anniversary/">Monerun will take place on 18th April</a> again.</p> <p>But why not make this a bigger community event, that all crypto projects can take part in. Since at least the downfall of FTX, the concepts of NYKNYC (not your keys, not your coins) and self-custody got widely popular. Unfortunately only within the circles of the well informed investors that are coming to subs like this. It's time to join forces and create a wider public awareness for the importance of.</p> <ul> <li>Self-sovereignity</li> <li>Self custody</li> <li>Not your keys not your coins.</li> <li>Manipulation by CEX insiders</li> <li>Fractional reserve schemes, naked shorting</li> </ul> <hr/> <ul> <li>Audited, fully backed exchanges (custodians) where self-custody is not an option.</li> </ul> <p>Let's make the 18th of April the day for self-custody, examining the solvency of CEX.</p> <p>I don't want us to rally against CEX. As much as I love DEX and P2P markets CEX (for now) are necessary to onboard new people to crypto. But they should be fully backed and not trade against their own customers. And as their proof-of-reserves can be easily faked it's on us to check if they are actually backed.</p> <p>Having a proof-of-reserves day helps wed out the good actors from the bad actors and leads to a more healthy ecosystem.</p> <h2>How to join?</h2> <ol> <li><p>If you still have coins on a CEX withdraw to a self-custodial wallet you control.</p></li> <li><p>If you already follow community best practices, buy a small amount, withdraw and take part in the community action.</p></li> </ol> <hr/> <p><strong>Update</strong>: The <a href="/r/btc">r/btc</a> community stickied the post <em>(would love to see more communities join forces)</em></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/gr8ful4"> /u/gr8ful4 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12lzz8k/monerun_will_take_place_on_18th_of_april_let_this/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12lzz8k/monerun_will_take_place_on_18th_of_april_let_this/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><h2>Joint community action</h2> <p>After years of observed malpractice, mysterious withdrawal halts and manipulation tactics by many of the big CEX, the Monero community was simply fed up with the lies. So they initiated the first Monerun in April 2022, a quasi bank run on centralized exchanges. And just as assumed, many of the big CEX had to halt withdrawals for days or even weeks.</p> <p>This years <a href="https://np.reddit.com/r/CryptoCurrency/comments/12kpj7n/the_monerun_anniversary/">Monerun will take place on 18th April</a> again.</p> <p>But why not make this a bigger community event, that all crypto projects can take part in. Since at least the downfall of FTX, the concepts of NYKNYC (not your keys, not your coins) and self-custody got widely popular. Unfortunately only within the circles of the well informed investors that are coming to subs like this. It's time to join forces and create a wider public awareness for the importance of.</p> <ul> <li>Self-sovereignity</li> <li>Self custody</li> <li>Not your keys not your coins.</li> <li>Manipulation by CEX insiders</li> <li>Fractional reserve schemes, naked shorting</li> </ul> <hr/> <ul> <li>Audited, fully backed exchanges (custodians) where self-custody is not an option.</li> </ul> <p>Let's make the 18th of April the day for self-custody, examining the solvency of CEX.</p> <p>I don't want us to rally against CEX. As much as I love DEX and P2P markets CEX (for now) are necessary to onboard new people to crypto. But they should be fully backed and not trade against their own customers. And as their proof-of-reserves can be easily faked it's on us to check if they are actually backed.</p> <p>Having a proof-of-reserves day helps wed out the good actors from the bad actors and leads to a more healthy ecosystem.</p> <h2>How to join?</h2> <ol> <li><p>If you still have coins on a CEX withdraw to a self-custodial wallet you control.</p></li> <li><p>If you already follow community best practices, buy a small amount, withdraw and take part in the community action.</p></li> </ol> <hr/> <p><strong>Update</strong>: The <a href="/r/btc">r/btc</a> community stickied the post <em>(would love to see more communities join forces)</em></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/gr8ful4"> /u/gr8ful4 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12lzz8k/monerun_will_take_place_on_18th_of_april_let_this/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/12lzz8k/monerun_will_take_place_on_18th_of_april_let_this/">[comments]</a></span>