I never stick the loop around my wrist because I need to switch hands with my whip every time I change direction! I just tie the loop on my crop around the handle so it's out of the way.
One time, I decided to ride without a crop. Horse decided he was going to be lazy, so I had my instructor hand it to me. I took it, turned my attention to figuring out my reins, and accidentally threw the crop into the dirt xD
Then the first time I rode with my new dressage whip, I put it on the ground while I was lengthening my stirrups. Horse moved to stand over it, and proceeded to wee all over my nice new whip!
If you believe everything you read, better not read.