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RE: HEREIN, CONTRIBUTION = REWARDS. Which Bitcoin Wallet Are YOU Storing Your Bitcoin In When August 1st, 2017 Strikes?! LETS TALK WALLETS, SECURITY, AND PREPARATION! DISCUSS!

in #bitcoin7 years ago

I put all my Bitcoin on a KeepKey hardware wallet months ago after I got uncomfortable holding it on a phone hot wallet.
If you keep your Bitcoin on an exchange, stop doing that, it's one of the first things any Bitcoin savvy person will tell you.
Hold your own private keys/seed phrase, hold your own wallet, control your own coins.

KeepKey have stated (on Reddit oddly) they are going to support both BTC and BCH and enable exchanging one for the other through their secure Shapeshift integration, though that might not be ready on day one of the fork yet.
Reddit link:

For the first few days after August 1st I'm not doing any transactions.
I'm sure I will keep my BTC, I'm not sure yet if I'll sell my BCH when that becomes possible.
There is a very small chance BTC could die and BCH becomes "true" Bitcoin, just in case, I'm holding my BCH until I can see which way the wind is blowing.

I'm not a trader and am not that interested in quick profits here and there.
I consider my Bitcoin as savings together with my gold and silver.

The fork itself I'm not that happy with, it creates uncertainty and the entire Bitcoin community now has to know about one extra thing and consider their actions because of it.

On the other hand, you can't stop people from forking, there might be more forks in the future, and the more they happen, the more we can all get used to them and improve our game plans and software to cope.
It's a learning experience.
It's just something the community will have to deal with, might as well get good at it.

Maybe if the next fork isn't announced only 2 bloody weeks in advance it won't be so much of a hassle.
We will know what to do, what not to do, how to protect our holdings, and maybe how to profit, because the last fork (this one) let us learn all these things.
If after this fork you read horror stories of people losing coins, spending coins they didn't want to spend, LEARN from their mistakes, and never make them yourselves.

Smart people learn from the mistakes of others.
Normal people learn from their own mistakes.
Dumb people never learn.