How I lost almost 300,000 USD in seconds

[sirkings0003]

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 is really a big gamble dear. However,it is a big lesson for all of us. If you must gamble as such, then your has to be open 24hrs or contract it to professionals.

[castiel0504]

I see few people already said that... But i am interested in that part as well "What made you think that S2X is going to be next main chain" ? Awaiting OPs responses with huge suspense

[DARKANGEL6415]

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.  

Now that is spot on i  say. I myself have had greed blindside my logic and put all my eggs into one basket. Back in the day spain coin seemed like it might do something so i bought my $10,000. I had saved up and ended up loosing about 40%.

[w5pn73]

So you're futures are worthless now? I know the fork got cancelled but there will be another fork surely, can't these be used for the next fork?

[nextel]

Ouch! that's the saddest story I ever heard. Wish you could've get it back but price already dropped and we cannot do anything.
The moral story is the best advice you can give to people who almost do the same as yours.

[nextel]

I see few people already said that... But i am interested in that part as well "What made you think that S2X is going to be next main chain" ? Awaiting OPs responses with huge suspense

That would be his ultimate luck if ever Segwit2x is accepted by majority of investors and Bitcoin enthusiasts but sometimes we predicted too much out of our emotions and excitement for the hard fork. If happened that Segwit2x is rocking since the fork until today, He is one of the luckiest investor of cyrpto-currency if you know what I mean. But, that's life. A sad life sometimes..

[JohnHero]

But if you were right? How would your profit be? Big wins require big risks, and sadly, the risks were against you as you lost here. :|

[ChainSmoker]

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

I know how you feel.That wasn't a good decision.You should have waited till the actual fork.Many companies and people were against segwit2x.That reason was enough to not invest such big amount in segwit2x futures.Don't lose hope and learn from this incident and don't do same mistake again

[moooonu]

Always stay updated with the news and don't forget to put a stop loss limit to save your money from going to hero to zero.

[kr105]

Actually I am sad for your loss.  But what you have based on this data to invest such money in this way. I use a little amount of money in this type of investment. I am a person who likes to take risks, but I need to be crazy to make such a risky investment. I hope you will soon regain what you lost.

[miyaka26]

That's really a huge loss and I'm sorry for that, this will be a lesson mostly for the newbie readers who are hype into investing to crypto currency that is why never gonna trade most of your bucks as anything can happen to the digital coins. Always mind that there is a risk for everything the bigger you bet the chances for wins and loss will also big.

But for the fork that is not released yet is very big gamble, it is like 75% is the loss and 15% is the chance to profit from this strategy a very risky move, you should ride the boat of btc as the price is skyrocketing again.

[EtihadBitcoin]

Samething I heard about these bitcoin futures.
One guy lost $900,000usd from what I heard as he put all his life savings into it.

That is madness.

It is like gambling you life away with putting into something that is not definite.

[The One]

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

Moral of story:
Repeat this 100 times - "I am an idiot and should not get involved in something i don't understand."

[Shiertwo99]

This is a very sad story but why would you even do something like this if i had that kind of money i would not risk it to maybe get more out of it or even to double it that is not possible there are no shortcuts in life you need to understand that.

[iamTom123]

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.

It was a big gamble that never paid off because of events beyond the control of anyone who bought SegWit2X futures. Sadly, when the hard fork was cancelled the futures look so dim literally and figuratively. Yes, the big lesson here is we have to be careful of what we got into. Bitcoin has proven itself to be too resilient in the face of many hard forks and even if many would insists that Bitcoin can soon be replaced, it won't be happening soon. Bitcoin was not nailed by the barrage of bad news from China in September and just recently the attack from BitCoinCash proved to be unsuccessful. Bitcoin is now back in the game.

[Bonanzacoin]

Damn dude... well i guess u still have more money then most people. So view it in that perspective.

[tunctioncloud]

That is really saddening, I do not like when people are ripped of that way. But that is part of the futures market : they are by definition very risky. However as you did, I would have naturally thought it would be activated.

[djsugar]

Man! You bought a risky coin that too at pumped price. How more can you go wrong. Regarding not having half of your portfolio in one coin stands good for altcoins but not for bitcoin. I always prefer 50-50 division between bitcoin and altcoins in my portfolio. This way you keep the dollar value of your portfolio somewhat stable. Never make a hasty choice in cryptocurrencies and that too with such a huge amount. Think sensibly! Altcoin trading seems easy but is way tougher because it is highly unpredictable.

[flippener]

If in doubt... hold bitcoin. It works 99% of the time.

[saedasda]

lesson learned dont put all money in one investment and learn how to use money management.