https://www.youtube.com/watch?v=LefOI4bGRMc
EDIT: I don't understand why you can trade BT1 to BTC, so I'm probably totally wrong in my explanation. Well I'd like to understand how it works too.
Here's how I understand it, correct me if I'm wrong:
1. if you do nothing, you will get "free" B2X's for each BTC, at the time of the fork, like for other platforms that support it
2. you can convert, right now, your 1 BTC into 1 BT1 & 1 BT2. Let's call BT1 "BTC, post-fork" and BT2 "B2x, post-fork".
You can now trade each.
It apprently allows for nice strategies, like:
1. you don't wanna lose money in the process. You can pre-sell right now your BTCs for 6000USD (of course it has already decreased), and your B2X for 940. Which means the same as selling right now, pretty much, but if you had pre-sold each separately at different times, you could have made a nice profit.
2. you don't care for B2X, you wanna convert it to BTC's after the fork, you can already do that. Right now each will grant you 0.13BTC, well it's not bad (edit: actually that doesn't sound too good).
3. you can pre-buy post-fork BTC's at 6000usd
etc..
It's pretty much allowing every choice you can make after the fork, but you can do it now & speculate, instead of waiting & rushing at the second of the fork, knowing the uncertainity of all this.
Which also means that the BTC is already speculated to lose 13%.
If someone has pre-sold his post-fork B2X and BTC's at different time, he might have made a nice profit.
If you think the BTC will go down more than 13%, you can pre-sell your post-fork BTCs for a good price.
If you think the BTC will go down less than 13%, you can pre-buy post-fork BTCs for a good price.
So yeah, you basically bet on the BTC dip and the value of the B2X.
NOW here's why I'm not quite sure of what I'm saying. This speculation has been going on for over a month, and I see trades made when the BTC was around 3000USD. There's not much volume, like up to 10, but yeah, that means that some lucky guy (well not really, he could already have bought BTC's at that price at that time) is gonna get post-fork BTC's for 3000USD, and some unlucky guy is gonna bargain his (that sucks for him).
ALSO, where I have doubts, it's where their contract says it runs up to end of December. I don't think that means that BTC's or USD's will be credited end of December (which would make it a bad deal), because in another place it also states that the accounts will be credited at the moment of the split. But I'm not sure.
Topic: Bitfinex With Segwit2x (Read 248 times)
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Please can anyone answer?
Please can anyone answer?
Hi I am confused about Bitfinex policy with segwit2x.
I can understand( Announcement https://www.bitfinex.com/posts/221) that we can now split our bitcoins to BT1 AND BT2 with the help of coin split manager.
And this BT2 will later become B2X at the time of split.
But here my question is if i donot want to split my coin like this and if i have
1btc in my bitfinex account at the time of fork.
Will i get the equal amount of B2X after the fork?
Or only if I Split my BTC before the fork like BT1 and BT2 then only I am getting B2X coin after the fork.
Their T&C for segwit2x https://www.bitfinex.com/legal/cst/segwit2x
I can understand( Announcement https://www.bitfinex.com/posts/221) that we can now split our bitcoins to BT1 AND BT2 with the help of coin split manager.
And this BT2 will later become B2X at the time of split.
Quote
Users will be able to create or destroy these new CSTs in any amount using the Token Manager located in the Order Type drop down menu of the sidebar order ticket. Upon creation, the BTC will be debited from your account and an equivalent amount of BT1 and BT2 will be credited. Users will also be able to reverse this process at any time, trading in equal numbers of BT1 and BT2 to extract BTC.
But here my question is if i donot want to split my coin like this and if i have
1btc in my bitfinex account at the time of fork.
Will i get the equal amount of B2X after the fork?
Or only if I Split my BTC before the fork like BT1 and BT2 then only I am getting B2X coin after the fork.
Their T&C for segwit2x https://www.bitfinex.com/legal/cst/segwit2x
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