Sitting out is a good call if you are not familiar with the technical background. On the 1st of August there will be some nodes on the main net which will change their protocol, the general test the proposing team did a couple of days ago was a complete mess (the test net split in 2 chains). If you think this can happen, then for sure it's better to sit it out. As an example you can look into the origin of ETH/ETC, much of the reasoning that were done back then can be applied also now.
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So, where is a good place to park your BTC? I don't have a cold storage device.