A private wallet like mycelium is fine and you are not subject to 3rd party risk. I believe that is summary of the warning.
I don't understand why are people dumping over BTC while they can have them invested in alts???
Even putting in alts wouldn't settle anything for us??? Putting alts on exchanges will also be dangerous???
Alt coin each have a separate blockchain. So this is news about bitcoin and does not change those other coins
Dear Lord, I still do not understand, Is it worth it to keep altcoin from stock exchanges or not. Or is it better to bring them out to their purses? The fact is that the situation with Bitcoin is almost clear, But I'm still interested in the dangers that await me with my alternative coins.
Holding the coin with one site relies on them to store it reliably. Alt coins are not changing at this point so the risk is unchanged for alt coin, this news only gives a heads up about bitcoin blockchain.
The best alt coins for holding I think personally is the Proof of Stake coins and they always encourage personal usage. Here you do not have miners collected into one place with power over the holders over the coins.
On proof of stake the blockchain is secured by the operators of each wallet which means value decides direction of the blockchain not a company with separate interests.
Bitcoin is proof of work, this blockchain is secured by workers or miners. It has become controlled by industry. Proof of stake is secured by value, you receive the fees if you hold the coins so its like a co-operative instead of a company. Thats the alt coin I've been using for three years now alongside bitcoin, I find it very easy and simple to operate.
This POS coin came out in 2014 and is extremely fast, instant I find most of the time and all these coins are very cheap to send with so ideal for the small personal user imo.
https://en.wikipedia.org/wiki/BlackCoinPeercoin came out August 2012 and is also proof of stake
https://en.wikipedia.org/wiki/PeercoinLitecoin was November 2011, use to be the largest alt coin. Again that blockchain is separate to bitcoin and it not involved in this announced change. Litecoin is proof of work .
https://en.wikipedia.org/wiki/LitecoinI prefer proof of stake also because it pays you to hold the coins. Remember when bank accounts gave you interest on your money ? The good old days, POS does that for holders and you dont pay fees to large companies in mining fees. To use the network just needs a wallet and all coins are returned back to all the people with just a simple wallet open.
A brief history of POS -
https://www.quora.com/What-are-the-most-popular-Proof-of-Stake-cryptocurrencies