I think users should not leave BTC at exchanges. In such cases, you will have control over both coins in case a hard fork occurs. You also minimize the risk of losing money if exchanges get hacked.
I would say the same when it comes to saving your coins in other exchanges but when it comes to coinsecure if Benson Samuel says so i trust him.
Will do a blog post or mailer over the next few days explaining our stance.
Good to hear from your buddy,hope to hear the official stance from coinsecure in the coming week. What is your general opinion regarding the scaling issues,what is your suggestion to overcome the network issues.
Dont keep your coins in exchanges and web wallets, even if I say so
This has been proven to be a bad idea time and again.
The problems that occur on centralised services is not a direct loss of coins, but a clear temptation to the service operator to invest customer funds in alternative ventures. Losses on these ventures are what impact customers more than hacks, and runaways.
Store small amounts on web services, amounts needed to spend/ offchain transactions, keep everything else offline.
My general opinion is that BTU is a good implementation to scale the network.
At the same time, the current investment in the BTC brand is huge and may be able to retain the network effect over BTU.
Even if more than 50% of the network switches to BTU, a fraction of that percentage understands/ will be able to move seamlessly into either fork. This directly causes short term financial losses to a majority of users, even if the network is safe.
Just as we saw in ETC and ETH, one of them retained abut 5-10% value of the former. This is very likely in the case of BTC/ BTU as well since a large portion of hashing power will switch sides.
My biggest concern is that the block increase will encourage people to use the Bitcoin network in its current state for large chunks of garb that will eventually get back to the same problems that we are facing.
Not sure how it will work out, but am going to keep the BTC version running till we have a clearer idea on the spread/ moves that happen as the chain forks.
We have a 2nd version ready if needed, that does BTU to INR, so we can switch over/ start a new exchange instance whenever it clicks.