Man Bought $85,000 of B2X Futures (then lost it all)
November 8th, 2017
On October 28th 2017, a user from Medium.com wrote:
I just spent about $85.000 on buying B2X futures. This just means that once SegWit2x goes live, I’ll already have 90 coins. But why did I spent nearly a $1000/coin for coins that everyone will get for “free”?
Simply because I think that the SegWit2x coin will become “Bitcoin” and the current Bitcoin will become Bitcoin Classic.
Now if you were reading this article yesterday it may have just passed you by as a non-important or trivial post. I mean, who cares right? Everyone was energized for and getting ready for the Segwit2x hard fork. Bitcoin zoomed up in price while the altcoins bled, and you could say there was chaos and panic in the altcoin streets.
Today however, the team that planned the hard fork recently announced that it had been cancelled. This means that all B2X futures suddenly became worthless because no B2X coins would ever be created. This is what happened to the price as soon as people heard the news:
The user's $85,000 investment for 90 B2X coins have just vanished into thin air. On October 28th however, no one would have been able to guess that this was coming. The user closed his article with:
So if SegWit2X becomes the needed upgrade to Bitcoin it’s trying to be, I walk away with a cool half mil. If not I take maybe a $40k hit. I think my odds are pretty good here, but time will tell.
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