I think "Proof of Keys" is an unnecessary burden to the Bitcoin & exchange networks... I don't like the idea of shooting myself in the foot. I understand the idea of not letting exchanges use our coins in a fractional reserve setting, but I don't think it will make a difference for just one day... If they want to do it, they will, since they will always have some of our coins in their wallets. The good qualities of Bitcoin (decentralized, distributed, immutable, fungible, borderless, permissionless, rare, capped, non-inflationary), as compared to fiat, are guaranteed by its design, not by what exchanges do or don't do.
Why not do the opposite: withdraw all of our fiat from the banks! That would put a stress to their network...
Why not do the opposite: withdraw all of our fiat from the banks! That would put a stress to their network...
It would cause a lot of stress for nearly everyone since loans exceed savings by a very large margin. In Canada, there is no reserve requirement so theoretically we have an indeterminate (possibly infinite) money supply based on the formula for money multiplier (m) given the Reserve requirement (R):
m=1/R
That being said, I went into the bank a couple of years ago to withdraw more than I was able to withdraw in one day from an ATM (which is $2000) - seems to me I was looking to get around 6k. First, they wanted to know why I needed "so much" money and if a bank draft or check wouldn't be a better option. They chastised me for not calling ahead and I had to sit and wait for the money to be ready. Oh, I was also required to withdraw my maximum from their ATM first (I don't pay a fee if I use theirs so that didn't bother me too much). When the cashier called me back to the counter, she had a manila envelope she was digging her hand into that I could see had at least two wrapped stacks of $100 dollar bills. I tried to keep the conversation light-hearted saying "You have plenty of cash there! Why did you make me take money from the ATM?" and she told me they had been directed to discourage large cash withdrawals.
Fast forward a couple of years to the present and just before Christmas I went to the same branch because it was on my route and I needed some cash. While they still have people working inside, they don't do physical cash withdrawals. The only option is to use their ATMs. They have been popping up everywhere since about the middle of 2018 in this area and I believe one bank calls them "Advice-based Centers" where the bank employees are directed to show you how to use an ATM if you request cash and they don't have tellers anymore.
So really, the only thing a bank run will cause is line-ups at the ATMS and stress for those with savings accounts.


Buy Bitcoin.
That queue is a cue to really go with the trend or the future of money. I may be a newbie with this industry but Bitcoin, blockchain and cryptocurrencies really has future to create massive change especially in finance, economy, government etc.,
Sorry, there are two queues actually. I didn't provide enough separation.
The left is in India and on the right, Greece.
Well for those who don't want to be hassle on that same queues, that's the cue to go with bitcoin instead.
I know there is but queues like that to get fiat, nahhh! I want to capitulate or walk-out at the very moment if I will saw it.