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RE: Bitcoin $17,000 Target Update & SegWit2x Returns
Great video as always.
Just one question, since this version of segwit2x isn't even remotely the same as the previous one, isn't the futures market for the old segwit2x coin not applicable for this particular coin?
The real "free money" is being made by the miners in transaction fees everytime one of these hard forks occurs. I wonder how much collusion is going on behind the scenes. Be sure of this: they will spam the BTC mempool when the hardfork occurs to reap a guaranteed bonanza
If I understand correctly, people are irrational and are currently looking to make money fast. Even if this new 'bitcoin' has no future people are going to get in any way. Even if the name is just for show, there is still going to be people who are coming in with little to no knowledge who believe it will be worth something.
They want their free money. and if bitcoin gold has shown anything, some will get it.
I thought the same, and I haven't looked into this too much so I can't say for certain, but it sounds / seems like the guys behind this version of Segwit2x (which again, really isn't S2X) set up futures on the 19th (which so happens to be when prices spiked). I don't bother with those futures though and they usually aren't that useful. Just interesting to look at, but tend to overinflate prices.
Cheers. I couldn't even wrap my head around why people were still trading futures after the cancellation, so this latest development is basically making less and less sense to me.