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Today, I have received an e-mail from GDAX that says:

We wanted to remind you that the upcoming Bitcoin Segwit2x hard fork is projected to take place on November 16 and will result in two bitcoin blockchains.

And especially interesting:

Any customer storing Bitcoin (BTC) on GDAX at the time of the fork will be credited with an equal amount of the Bitcoin2x (B2X) asset on the Bitcoin2x blockchain. GDAX will continue referring to the current bitcoin blockchain as Bitcoin with ticker BTC and the forked blockchain as Bitcoin2x with ticker B2X

Does this mean that I have the double amount of money after this fork? If yes, why should I not buy a lot of bitcoins before the fork and sell all Bitcoin/Bitcoin2x immediately after the fork?

closed as off-topic by remedcu, Highly Irregular, pebwindkraft, MCCCS, renlord Nov 5 '17 at 3:25

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  • "Questions on current or future market values, energy costs or service provider availability are off-topic as the answers are changing too frequently to be useful to others." – remedcu, Highly Irregular, pebwindkraft, MCCCS, renlord
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The "Segwit2x" fork is scheduled to activate at block height 494,784. After this block, there will possibly be 2 independent blockchains that grow independently of each other. If that happens, then any BTC you held before block 494,784, would also be available on the B2X fork.

This doesn't necessarily mean you would double your money. It's possible, but it depends on how the market prices both BTC and B2X. For example, if you held 10 BTC @ $5000 before the fork, and then the fork happens and exchanges come back online and the market prices BTC at $2000 and B2X at $2000, your 10 BTC + 10 B2X would be worth less than before the fork. It's impossible to know how the markets are going to react to the fork and how messy it's going to get.

  • It is possibly helpful to think of an extreme example. Forks are not magical; I can create thousands of Bitcoin forks in my basement if I want, just by making incompatible tweaks in the protocol. It would be absurd to think I can multiply my money thousandsfold in this way. What will happen is that nobody cares about any of my forks, so nobody will give me goods or services in exchange for the forked coins, and they effectively have zero value. Likewise, the value of the BTC and B2X coins after the fork will depend on what people are willing to pay to acquire them. – Nate Eldredge Nov 2 '17 at 16:55
  • Yes ok, makes sense. But after the Bitcoin Cash fork in August, Bitcoin prices didn't drop as well. So what do you think? What will happen now after the Segwit2x fork with the Bitcoin price? – Martin Ennemoser Nov 3 '17 at 9:01
  • The Bitcoin Cash hard fork and the 2x hard fork are shaping up to be quite different though. Bitcoin Cash was never trying to be the "official" Bitcoin, whereas the 2x folks are trying to make 2x the "official" Bitcoin. It changed the protocol more drastically than the 2x fork is proposing to do. And it implemented strong replay protection causing minimum disruption to the existing chain, whereas 2x is not (at the moment) implementing any replay protection. So this hard fork has the potential to be disruptive to the ecosystem. – Eric Allam Nov 3 '17 at 9:06
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If yes, why should I not buy a lot of bitcoins before the fork

Because of limited supply on markets :) You can not buy more than 21mln bitcoins because such quantity does not exist

This is the question of the year. I vote for it.

  • With "a lot" Bitcoins, I mean in the range of 1-10 or any other affordable quantity. – Martin Ennemoser Nov 2 '17 at 13:52
  • I think we can also make "fork of fork" in each fork to quadruple money. What about next steps? – amaclin Nov 2 '17 at 14:24

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