SegWit2x Futures Still Have Value
Here’s one indicator that all is not what it seems: HitBTC‘s SegWit2x Futures, or bets on the future value of a hypothetical S2X Bitcoin currency, still have value.
Sure that value plummeted from over $1,200 USD to $153, immediately after the official announcement that S2X would be postponed indefinitely. Since then, however, the value has actually climbed back and sits around $344 at press time. By rights, if S2x is dead, that value should be zero.
Wonder why #btc and segwit 2 futures are going up? Apparently, about 20% of #bitcoin mining power is going rogue and proceeding with the hard fork. I hope someday someone makes a movie about all of this. #cryptocurrency #blockchain #fintech $btc #Crypto #SegWit2x pic.twitter.com/fuEoOb8aQd
— Alex Melen (@amelen) November 9, 2017
It may be just wishful thinking, or echoes of denial from those who bought S2X Futures. There was outrage over at 4chan from some investors, who appeared not to understand that a futures contract is a speculative bet on an asset that may not even exist in the future.