August 1, 2017: What happens to our bitcoins during a hard fork? [Explained]

I've seen a lot of questions and a lot of "GET YOUR COINS OUT OF EXCHANGES" comments. I've been looking around for some answers and stumbled upon this video (5 Min) from Andreas Antonopoulos, whom does a very good job of explaining what's going to happen and what choices you have. Hope it helps! šŸ™‚

TL;DW: what to do

1) If you directly control the private keys to your bitcoins, you're fine: your coins aren't being invalidated or going anywhere. When the hard fork happens, you can just decide which chain you want to continue with. just HODL until things clarify.

2) If you don't control the private keys to your bitcoins (ex. on an exchange), move them to address that you control. If you don't, whoever controls your bitcoins will be deciding for you, and not all exchanges/ wallets will be supporting both sides of the fork.

submitted by /u/ChanDroid_
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I once had a proposal for a flexible block size (I was still a noob) Gregory Maxwell explained in a friendly manner why it would not work. I learned something new, and for that Iā€™m grateful!

Why is it so difficult for people to handle this situation? Why is it so hard for people to accept that their solutions might have some flaws? Why do people get offended when they are given free information from someone who is a professional in the field of bitcoin?

Link to my proposal and the explanation from /u/nullc :

submitted by /u/ABrandsen
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