Pato99

How to make the most profit out of BITCOIN FORK

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
12690 views
42
This is how you should behave during the forks coming within the next 2 months.

1. Bitcoin Gold fork

This one is not supported by any big exchanges currently.
The only way to get Bitcoin Gold is move all your BTC to your private BTC wallet. After the Fork you can move them back and wait for an exchange to support Bitcoin Gold .
After that you can dump them or what ever you want. its free money

2. Bitcoin 2x fork

Here is the timer
http://bashco.github.io/2x_Countdown/

the date can change. The fork block will be 494784.
This is everything you need to know.

Now here is what you do:

Bitfinex:
1. Hold BTC before the fork.
2. Go Margin all in on Bitfinex BTCUSD pair
3. sell your Margin position after the fork kicks in (at best you should be in profit a few bucks)
4. Get your Bitcoin chain split coins + those you held on margin
5. profit


If you use Kraken:
If Kraken announces support on chain split tokens you can use leverage 5x on USD and EUR pair (T3 verification 25k EUR + 25k USD / T4 verification 100k EUR + 100k USD)
Use the highest leverage available for you to get as many free coins as possible
If your account is big enough you could also go SHORT on ETHBTC, ETCBTC ( google kraken margin limits)

3. sell/buy your Margin position after the fork kicks in (at best you should be in profit a few bucks)
4. Get your Bitcoin chain split coins + those you held on margin
5. profit






Comment: https://twitter.com/bitfinex

FINEX ANNOUNCES BTG SUPPORT 6H TILL FORK YOU KNOW WHAT THAT MEANS?
Comment:
as of today 1th Nov the hardfork will come earlier then expected.
We are in a extended wave which is dangerous to trade.
Exposure should be reduced to protect profits.

the first potential top is less then 20% away. Risk/Reward is not good any longer. If you are long like me from much cheaper levels then you can chillax as your profits are protected by 6200 USD support
Comment: this is what i was talking about. massive topping pattern.
Comment: segwit 2x will not come!

im out

Comments

There is a risk to holding massive crypto positions on margin of course and I would not underestimate it. So while you are able to do this trade and get free coins, this may be fine, as long as the pric of BTC doesn't drop more than what you will be able to sell BTG for.

In my opinion, there is a better way to profit on Forks ... I won't mention it here but I'll give you a hint. The key here is not to look for an exchange that participates in the fork but to look for one that definitely won't participate in it. So what you do is you go all out margin LONG on the one participating in the fork and then short the same amount (also on margin) on the exchange that doesn't participate. In this case your BTC LONG is hedged and you'll get the coins, and the other exchange which doesn't participate in it will not make you owe new coins, so you essentially don't need to worry about the BTC price after the fork, but you get free coins :) Anyhow, I did this with the last fork and will do it the same way with this one. Good Luck....
+3 Reply
kenny8254 Stockholic
@Stockholic, Why don't you just simply use derivatives instead spending time on finding the exchange not supporting the fork? That seems easier.
Reply
This happened very suddenly..I am out.
Reply
If i understand right

i go Margin long with 1 BTC at 15 November and after the fork i get 1BTC+- profit and 3,3 B2X (3,3 is my leverage)
and for my safety i go Margin short with another 1 BTC, if the market goes against my long position to protect me from losses (no must have)

And i dont have to worrie about anything???
Reply
Pato99 Gert76
@Gert76, if you go short you owe b2x to the lender so this is pointless
Reply
Well, just a whale realized some profit..keep going up..HUGE buy walls on polo..8k easily from here but 10k also reachable in Dec.
Reply
Pato99 CoinDreamer
@CoinDreamer, yeah 8k+ still in play
Reply
when will bitcoin start its next leg up for the fork
Reply
Pato99 yianni
@yianni, should turn now for the next 2-3 week uptrend
Reply
@Pato99 do you get split coins during segwit2x? Are you taking part in the same routine?
Reply
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