Where Would be the Best place to put Bitcoin prior to 1st August ? ANSWERS
Genuine question
this might help a lot of people and although I'm a keen coin analyst, a back room boy I am not & I'm not the most qualified to advise on this matter. If you wanted to get your bitcoin off exchange prior to 1st August so you could take advantage of the free bitcoin cash given out when next week's fork basically duplicates the bitcoin ledger / (& which may or may not be worth anything in a couple of weeks)
Where would you put your bitcoins ?
what's the best, most accessible and secure wallet / online or locally hosted ?
Answers on a Postcard please
That's a comment in this post !
Thank You
if you know a good or / the answer
I might be wrong, I closed my 2 trades I had today in a positive, but all trades closed, waiting to see what will happen.
trades will close until 29th July I think on most exchanges but it looks like there's a drop to convert coin into BTC to put in private wallets.. baiting the nets, so to speak
THE BIG TEST OF THE WHOLE SYSTEM
This could end up a big test for the whole ecosystem and the likes of coinbase, localbitcoins and the exchanges, bittrex, poloniex, yobit, etc ! how will they respond to splitting coins or will they just ignore a fork ?
EXODUS
The exhanges could empty out this week as people go a bit MAD & transfer coins back into local wallets to take advantage of the* bitcoin cash* windfall, which could actually amount to a nice bonus for btc holders or zilch.. because everyone will immediately try to sell them for real bitcoins, rendering them cheap as tallow (that's animal fat & pretty cheap, I think.)
###NEW KID ON THE BLOCK ?
potentially causing a close to zero price.. in which case, bitcoin cash might be worth scooping up as the new $0.1 replacement for the previous ETHEREUM rush.
Ethereum is still sky high
Anyone who bought Ethereum at $10 won't be too bothered it's hobbling around the $150 mark.. those who bought in at $275 will be crying into their hats and those who were thinking of getting involved have probably shat themselves and bought shares in an electricity company instead !! the new kid of bitcoin cash could potentially magic up billions of new virtual cash overnight. I'm kind of excited to see what happens ! it's all a bit bonkers
someone has to start an electronic dance music art called BIP91 !
There are two Bitcoin Cash wallets at the moment.
https://www.bitcoinabc.org/
http://www.electrumcash.org/
However, the most important thing - if you do not want to lose access to Bitcoin Cash tokens - is to control the private keys to the Bitcoin you currently own. Which essentially means, make sure you take them off of an exchange before August 1st.
thanks for your contribution @goofygrapes that's really useful to know ! It seems the consensus is that any wallet you own the private keys to should automatically duplicate the ledger so you will see bitcoin cash added.
My guess is the price of all coins is going to fall through the floor this week as people scramble to offload dipping coins from exchanges into private key held wallets !
In your pocket.
good answer !