I am just the average Bitcoin buyer and seller but with all the posts and articles I have been reading is there anything I should do to protect myself if the hard fork does happen or if a chain-split occurs? I don't understand all the intricacies of what may or may not happen or how to trade to take advantage of the market. I just want to make sure the few BTC I worked so hard for will be secure. Even my 11 year old son is asking me questions about this. lol (he likes to make free btc on the faucets)
Can someone in a nutshell explain what the New York agreement is along with segwit being active and why would Bitcoin split into BitcoinAbc and if the 2mb HF gets blocked what happens to the coins?
In the end shouldn't the miners come together and do whats good for us? Is this all happening because of miners not agreeing on something? I thought the nodes defined consensus not the miners even though they play a big role?
Sorry for all the question and I know most will say 'who knows what will happen' but i have googled all the terms and i still don't get them.
Would these options below be fine?
I guess the most important thing is to control your own private keys. I have printed my private keys.
You can put your coins into cold storage/a paper wallet if you plan on holding them.
I own a 'Trezor' secure hardware wallet. I bought this because everyone raved about how secure it is.
I am not keeping any of my bitcoins in any exchange and I'm avoiding transactions the day before and after August 1st.
Others are putting their BTC in a different Altcoins. (i wouldn't even know which one)
Or
Will it be just another day where nothing happens like the Y2K scare lol and we should all just shut up and go about our business and stop talking about this?
Me personally, unless advised otherwise, I will hold and wait for all the hype if any to die down and then resume buying and selling! I wanted to hear from everyone else (basically anyone because I am far from an expert) about what the worst case scenario could be and just to be on the safe side which method is best to protect my bitcoins?
I know the majority will say nobody knows what’s going to happen but it doesn't hurt to get some advice and learn from people who know more about this topic than me.
I'm not a btc expert or even close to one, im just a hard working mother who wants to protect her bitcoins! Thats why I am asking all of these questions. Thank you :0)
Will it be just another day in paradise like this?
Or more like this?
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