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On August 1st there are some things that might happen and worst is your Bitcoin would get lost if you try to move it. So it will be better or recommended to try to get your Bitcoins from exchanges or online wallets and send them to a paper or hardware wallet so that you can also take hold of the private keys or those bitcoin funds.

The purpose of putting your bitcoins into a paper or hardware wallets as I told earlier is that if you hold the keys for those Bitcoins, it means you own those bitcoins, you are entitled to whatever you do with them and in case of a Bitcoin chain split, you can also get two or three versions or tokens of bitcoins. In the case of the paper wallet, you can put them into an online wallet that will support in giving you two coins if another one or two coins would emerge, then you can have two or three versions of Bitcoin.

Most online exchangers or wallets will stop operating temporarily a few hours before and maybe days after August 1st so you may have to do all your transactions before the said date so that you can protect yourself from a possible Bitcoin loss if something uneventful happens. In my opinion we cannot do anything but to ride this one out so just be prepared for a Bitcoin price dip and getting another token if you did stored your Bitcoins in a secure place where you have the keys for those coins as well.

I am more of an excited than worried because Bitcoin price will shoot up afterwards and we can also get another coin that will be called Bitcoin Cash or BCC. It may get accepted or get so devalued or just die depending on how exchangers and people accepts it with factors such as mining profitability for it as well as the software behind the Bitcoin Cash so it remains to be seen and experienced.