Trace Mayer on Why You Must Own Your Bitcoin Private Keys

In this episode, I talk with Bitcoin OG Trace Mayer. We discuss why Bitcoin is important, Austrian Economics, The 7 Networks Effects of Bitcoin and his campaign Proof of Keys where he is encouraging Bitcoin hodlers to take their Bitcoin off exchanges.

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*****

“Bitcoin is for all of humanity, it is the greatest technical innovation when it comes to sound money.”
— Trace Mayer

Interview location: Skype
Interview date: Monday 17th Dec, 2018
Company: Premier Ark LLC
Role: Manager

Own your private keys! OWN YOUR PRIVATE KEYS!

How many times are people told to make sure they own their private keys and not risk holding their Bitcoin on an exchange but they still do? Bitcoin offers people the chance of financial self-sovereignty but yet too many leave their Bitcoin on an exchange, exposing themselves to the risk of hacks, confiscation and exit scams.

Trace Mayer is attacking this problem head-on with his campaign Proof of Keys, where he is encouraging everyone to take their Bitcoin off-exchange on January 3rd, the 10-year anniversary of the launch of the Bitcoin protocol.

Trace rightly points out that there are many new entrants to Bitcoin who aren’t aware of what happened with Mt. Gox as well as the other countless exchange hacks. In this interview, we discuss the campaign, but we also discuss why Bitcoin is important, Austrian Economics and The 7 Network Effects of Bitcoin.

*****

00.03.49: Intro and welcome
00.05.04: What is Bitcoin and who is it for?
00.06.01: The 7 Network Effects of Bitcoin
00.22.59: Introduction to Austrian Economics
00.37.30: Interest Trace has in crypto outside of Bitcoin
00.44.34: Bitcoin being ahead of target
00.49.55: Thoughts on KYC/AML in reference to Tim May article
00.53.16: Proof of Keys
01.07.05: Why you should run your own full node
01.09.57: How to stay in touch with Trace

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