PSA: You don't own your coins unless you have the private keys

[Chillum]

That is why I use Electrum, offline wallet, and I have the private and public keys for all of my addresses. Thanks for sharing non the less.

[Academy Awards]

This may be me being dumb but does this mean that Coinbase is lying? Because if you take a look at the article below it says our funds are protected. And also says that only 2% of customer funds are held online the rest are on an offline storage.

https://suppor*****inbase.com/custome...nbase-insured-

Again, I may not know what I'm saying but I am confused.

[PhilDark]

So, On Blockchain its all safe?

Yes. It is one of the safest option. indeed the dev's are active on reddit and responded to my question about who holds the keys!

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This may be me being dumb but does this mean that Coinbase is lying? Because if you take a look at the article below it says our funds are protected. And also says that only 2% of customer funds are held online the rest are on an offline storage.

https://suppor*****inbase.com/custome...nbase-insured-

Again, I may not know what I'm saying but I am confused.

Safety is not the point here. Ofc a huge company like coinbase is safe but what I was talking about is the split. You do not have true control unless you have the private keys

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So where should i move my bitcoins before the fork on august 1st?

blockchain.info / mycelium

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Please list all safe self-controlled wallets.

any site that is NOT an exchange. I prefer blockchain.info and mycelium for now.

[Reum]

So where should i move my bitcoins before the fork on august 1st?

Blockchain.info or any hardware wallet.

[dmax1]

what about breadwallet?
mycelium is slow asf on app phone...

[SyndicateKool]

why it will affect if we do not have any "private" key ?

anyone can explaikn ?

[PhilDark]

what about breadwallet?
mycelium is slow asf on app phone...

yes. You can use it.

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why it will affect if we do not have any "private" key ?

anyone can explaikn ?

You wont have control over your coins. Lets assume bitcoin splits into btc and btu. You have your coins on coinbase and want them to be btu in future but coinbase decides to make all its customers use btc - you're fucked.

[SyndicateKool]

yes. You can use it.

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You wont have control over your coins. Lets assume bitcoin splits into btc and btu. You have your coins on coinbase and want them to be btu in future but coinbase decides to make all its customers use btc - you're fucked.

sorry i am quite new on this thing.
ok example (btc,btu)

coinbase decide force all user to use btc and i wanted to have btu instead of btc .. so i'm fucked because i can't have my btu instead i getting btc ?

[PhilDark]

sorry i am quite new on this thing.
ok example (btc,btu)

coinbase decide force all user to use btc and i wanted to have btu instead of btc .. so i'm fucked because i can't have my btu instead i getting btc ?

Yeah. You will have to go with whatever coinbase decides instead of what you want. (ofc you can convert it later but who knows how much you could lose/gain while converting)