Where should I put my Bitcoin for the fork?

As I mentioned in my last post, there is a possible hard fork in Bitcoin coming up on August 1st. So where should you keep your bitcoin during this fork? Coinbase and many, if not most, exchanges will not honor btcc or bcc or alternative chains. Well, not btcpop they believe the market will determine the best chain and they will credit their users with bcc. Some other services like Xapo are doing something similar. However, due to their invasive privacy questions, I can’t recommend them.

It seems people have caught onto this trend as there is a huge shorting demand for Bitcoin right now on Polo. Polo has margin trading where you can sell bitcoin you don’t own or, more likely in this case, hold it in your wallet during the fork and get BTC and BCC.

I also have two small things I discovered this week. One is a new exchange opening up that is offering tokens to new users, check them out here.

And the other is a game where you can earn dogecoin. Despite my best efforts, I wasn’t able to actually earn any dogecoin… Other players kept eating me and taking it. So it's an interesting idea and game, maybe check it out. It's a bit like a mutliplayer pac-man.

Bitcoin and the Fed, Plus Possible Fork?

On the 12th, while Janet Yellen was testifying to congress, a bitcoin enthusiast held up a sign saying “buy bitcoin.”

In another post, we can see he included a bitcoin address. I don’t know why he did this. It seems like a cheap trick to make a little money. Regardless, someone has taken this to the next level and created a downright scam. Here on Reddit, someone photoshopped the bitcoin address, and replaced it with what we can only assume is their own bitcoin address.

Also, there are some interesting things happening with a possible fork, here is one of the bitcoin blogs I follow for more. Read my past article on this topic here. The gist is that a fork may happen on August 1st, but probably not. Either way, I would make sure you have your bitcoin in your wallet in time for the fork. If the fork goes through, to my understanding, you will basically have those coins in two blockchains. Now, this doesn’t mean the value of your BTC and alternative chain BTC will double, but it would be like having two different cryptocurrencies.

Video: Mt. Gox Memories

Kind of cute little video I found on youtube, enjoy!













To end, George Santayana once said,  "Those who cannot remember the past are condemned to repeat it."

Short update: Reddit News

I haven’t had much time to report on Cryptocurrency news lately (and I probably won’t for another month or so), but here are some interesting things I have found lately. Apparently Bithumb, a large cryptocurrency exchange, was hacked. Here is a Reddit link to learn more.

Also on the subject of Reddit, here is a list of the top cryptocurrency subreddits.  You might notice number 1 and number 6 are both Bitcoin related. This is due to a raging battle between two ideologies. /R/Bitcoin is known to censor opposing points of view, they don’t allow people to discuss Segwit or Bitcoin unlimited (read more on this here). /R/BTC doesn’t seem to censor differing opinions. The BTC community also complains about the hostility found on /R/Bitcoin. I personally have experienced that too (As well as people who think they understand economics, but really don't).   

Lastly, here is a link to an interesting thread in Reddit about which coins people don’t own and why. Sometimes is difficult to get real criticism and this might be a good place to get some.