How I lost almost 300,000 USD in seconds

[Compr]

Bought 329 Segwit2x Futures on Bitfinex.
Sometime around the 6th.
Took a gamble yes I know, but after looking into it I believed Segwit2x would be the chain we all use as the real Bitcoin
News comes out that the fork is being called off, by the time i hear it about an hour later I check the futures price and it's trading at a whopping 90$ each
Moral of story :
Don't ever put almost half your portfolio in something risky like a forks futures

[altintarr]

I'm sad for you... But it is more than risky to buy a coin that has not been fully confirmed by their own devs.. 

[Compr]

I'm sad for you... But it is more than risky to buy a coin that has not been fully confirmed by their own devs.. 

Yeah, I learned a lesson.
Hard one.
Sold my futures at $160 each the next morning and took the L
Could of held on till 300, but no way to know if I would of timed that perfectly or not

[ahmad21]

I'm sad for you... But it is more than risky to buy a coin that has not been fully confirmed by their own devs.. 

Yeah, I learned a lesson.
Hard one.
Sold my futures at $160 each the next morning and took the L
Could of held on till 300, but no way to know if I would of timed that perfectly or not

I think you did not noticed that B2X went to around 500$ again on around 10th a bit of patience would have really reduced your loss a lot. It was just a temporary pumping by I think all.those who were holding it.

[CodyAlfaridzi]

Bought 329 Segwit2x Futures on Bitfinex.
Sometime around the 6th.
Took a gamble yes I know, but after looking into it I believed Segwit2x would be the chain we all use as the real Bitcoin
News comes out that the fork is being called off, by the time i hear it about an hour later I check the futures price and it's trading at a whopping 90$ each
Moral of story :
Don't ever put almost half your portfolio in something risky like a forks futures

Sorry for your loss, that's a huge amount. What convinced you that Segwit2X could be the main chain? Putting half of your portofolio - in a futures - of a shitty fork of Bitcoin. That's three big mistake.

I couldn't believe that there are actual people who thinks B2X/BCH/other fork could replace the original Bitcoin. These things has happened over and over again since 2014 by the same people/group (Bitcoin Classic, Bitcoin XT, Bitcoin Unlimited) yet people are still falling for it. Most people, including me, seeing those fork only as a way to make small gain by selling those coins immediately after the fork.

[diguyo]

Wow, unlucky mate...that sucks. That was a bold move, but it looked like it was nailed on. The whole thing was an absolute mess from start to finish, it looked certain to go ahead....something fishy happened there.

[Stedsm]

Bought 329 Segwit2x Futures on Bitfinex.
Sometime around the 6th.

Buying something that doesn't even exists is not just risky, but a gamble that consists of 100% chances of losing your entire capital that you put in.

Took a gamble yes I know, but after looking into it I believed Segwit2x would be the chain we all use as the real Bitcoin

What made you think that the community might go against the real Bitcoin and why? Don't say you never knew that the support they were trying to gain was not even 50% of the total mining volume.

News comes out that the fork is being called off, by the time i hear it about an hour later I check the futures price and it's trading at a whopping 90$ each

That was ought to happen, and it happened because the community wanted it. I was surprised to see it even at that price after it was called off, how it even traded after cancellation and why, that's still a mystery.

Moral of story :
Don't ever put almost half your portfolio in something risky like a forks futures

Learnt a lesson is a good thing, but you risked in 50% of your total portfolio on 2x? Really, man?

[webtricks]

Bought 329 Segwit2x Futures on Bitfinex.
Sometime around the 6th.
Took a gamble yes I know, but after looking into it I believed Segwit2x would be the chain we all use as the real Bitcoin
News comes out that the fork is being called off, by the time i hear it about an hour later I check the futures price and it's trading at a whopping 90$ each
Moral of story :
Don't ever put almost half your portfolio in something risky like a forks futures

While I would say whole crypto market is RISKY. If you wanna play trading in this market, you should always be ready to lose before thinking to gain.
However, this Futures thing is nothing but another way to make profits by Exchanges like HI-LO, Head-Tail, etc. How can you let users trade something which doesn't even exist! It remembers me of YoBit incident when DRACO coin was trading on YoBit but team never listed coin on Yobit. Funniest part is that you couldn't deposit or withdraw even TODAY.
So Exchanges keep playing such tactics, better be trade safe and only big coins.

[bit-freedom]

The risk is really high to invest in 2x, especially investing with half of your portfolio.

But this is how trading work, the higher the risk, the greater the profit. If you make it this time, you will be laughing your way to the Bitcoin Exchanges.

[crytomusica]

Bought 329 Segwit2x Futures on Bitfinex.
Sometime around the 6th.
Took a gamble yes I know, but after looking into it I believed Segwit2x would be the chain we all use as the real Bitcoin
News comes out that the fork is being called off, by the time i hear it about an hour later I check the futures price and it's trading at a whopping 90$ each
Moral of story :
Don't ever put almost half your portfolio in something risky like a forks futures

So sorry to hear that mate. Similar story happened to me few years ago when I was trading forex. After that I put myself really strict rule that I should never risk more thatn %5 percent of money in one position. Hope you recover soon!

[soham]

Bought 329 Segwit2x Futures on Bitfinex.
Sometime around the 6th.
Took a gamble yes I know, but after looking into it I believed Segwit2x would be the chain we all use as the real Bitcoin
News comes out that the fork is being called off, by the time i hear it about an hour later I check the futures price and it's trading at a whopping 90$ each
Moral of story :
Don't ever put almost half your portfolio in something risky like a forks futures

It's strange to know that bitfinex offered a futures contract on an underlying asset which doesn't actually exist and people are actually betting on it!! The futures contract is based on imaginary asset which was planned but not executed that time. How Silly!

I am sorry but such kind of betting is risky and I hope you took an informed risk on that. But sadly your plan didn't work well for you. Instead of loosing half of your portfolio to an already rich exchange owner, you could have done some charity to poor people.

Jokes apart! But I think you have learnt a lesson. Hope it will serve you better in future.

[Kprawn]

People can quickly get hoodwinked by scammers when they are greedy. You took a huge risk on something that was not

guaranteed, thinking that you would make a killing {greed}  and it did not pan out. You are lucky that you had the

opportunity to recover some of your investment, because you could have EASILY been out of pocket on this.   Next time,

re-think your strategy, before you invest in something that risky. We all learn through our mistakes, some are just more

costly than other.  

[patt0]

That was a huge loss, and I'm sorry to say this to you, but how could you be so sure about seg2x? I don't know how you manage your risks, but I do think that when someone bets half of his portfolio must really have a high degree of certainty on what he is doing. There were so many news coming out, voting against 2x, that I just don't understand how you could have been so certain that it would probably become the main chain.

I'm just saying this, because if you were miss leaded by news, then you shouldn't really trust those sources of information again, so you can protect yourself from future losses.

[btcprospecter]

That you is a massive loss, sorry to hear that. This could of been a success story it just shows how risky this business is.

[bribed]

Oh my god... I am really sorry for you. Of course this was a big gamble in the first place, but still, the way it went down is just not fair. I have huge respect for the calmness that you still seem to have. Do you think that the cancellation of the fork was planned beforehand or do you think that this was all legit?

[ravedien]

Its you can still earn what is lost. We learn our lesson, be greedy but do the math. If everything fails youcan still buy a rope. Kidding.

[azhariejaya]

Bought 329 Segwit2x Futures on Bitfinex.
Sometime around the 6th.
Took a gamble yes I know, but after looking into it I believed Segwit2x would be the chain we all use as the real Bitcoin
News comes out that the fork is being called off, by the time i hear it about an hour later I check the futures price and it's trading at a whopping 90$ each
Moral of story :
Don't ever put almost half your portfolio in something risky like a forks futures

really not a small loss, the things you experience become a learning for us that never take a big risks for things that are not sure, but everyone have experienced failure and take lessons from it to achieve success, let bygone be bygone, life is very interesting, in the end, some of your greatest pains become your greatest strengths 

[jc89]

Bought 329 Segwit2x Futures on Bitfinex.
Sometime around the 6th.
Took a gamble yes I know, but after looking into it I believed Segwit2x would be the chain we all use as the real Bitcoin
News comes out that the fork is being called off, by the time i hear it about an hour later I check the futures price and it's trading at a whopping 90$ each
Moral of story :
Don't ever put almost half your portfolio in something risky like a forks futures

Sorry for your loss, that's a huge amount. What convinced you that Segwit2X could be the main chain? Putting half of your portofolio - in a futures - of a shitty fork of Bitcoin. That's three big mistake.

I couldn't believe that there are actual people who thinks B2X/BCH/other fork could replace the original Bitcoin. These things has happened over and over again since 2014 by the same people/group (Bitcoin Classic, Bitcoin XT, Bitcoin Unlimited) yet people are still falling for it. Most people, including me, seeing those fork only as a way to make small gain by selling those coins immediately after the fork.

Yeah I agree with CodyAlfaridzi here. You just made the biggest mistake of your life when you gambled that huge amount into something that's not sure. You are one hella big risk taker I've known so far. 300K isn't a joke and I'm sorry for your loss. I'm also wondering why you're certain that segwit2x will be the main chain because for me I never believed in any of those fork coins.

[dasdo]

A very strange decision to invest in futures. I think you are to blame for this. The crypto-currency market is very unpredictable. Here you clearly need to understand and understand what you are doing. Otherwise, you can stay on the street.

[Xavofat]

was not even 50% of the total mining volume.

I don't know what you mean by "mining volume", but if you mean hashrate you're incorrect.  They had between about 80-90% hashrate for the couple of months that miners were signalling for it.

This is not the only indicator of consensus, and it's likely that miners would switch to whichever chain was most profitable a little while after the fork, but they certainly did have that support.
With forks, I've personally taken the stance of just ignoring them.  I'm holding both chains and watching how it turns out if there are any more contentious forks going on.  Best not to make a judgement when it can change so easily.