The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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If PW told me it was Friday, the first thing I'd do is grab a calendar!
its a sociopathic move ! bank 5 mill and then tell shareholders and new
"quarters and years boys'
I admire his chutzpah!
PW composed his 'Quarters and years, not hours and days' tweet on April 13th 2021 with the share price at 225p. 5 quarters and 1.25 years later the share price is 32p.
Maybe he meant years and decades :D
HC it was debated again the rampers were hodl hodl hodl. A few posters here got shot down as usual for writing it would be a good idea to sell over 60k!
These same rampers now say its fine for argo to be selling at these levels and are 'ready' for the bear market. lol
Butterkist Butterkist Butterkist
ARB 8-12p
CHAE GLA
bitf btc strategy reversed in less than 3 months ! they took some big hits for that disaster, makes you really wonder why these firms dont have some sharp traders analysing trends, the energy hedge is also a hug way to maximise capital so again i hear this smart growth, quarters and years but all the actions indicate anything but!
If Argo had sold 20% of its HODL at $60k and bitcoin had then gone on to $100k I don't think the sensible amongst investors would have been critical - it's prudent risk management. All this talk of bear market preparation isn't true or the miners wouldn't be forced to dump as many as it looks like they now are (going by bitfarms leading the charge). They prepared for a downturn but not for one of this magnitude.
Sorry PI! x;)
no fp I was strong last year on sales of btc above 60k, unlike saylor etc i saw the bull run ending i was surprised it took this long! i still think figures of 500k 1 million per btc is ludicrous on any timescale, the financial world and the world we know would have to collapse for that to happen and good luck trying to protect crypto keys during an armageddon!
Miners make 95 percent of their income from btc or argo does and didnt think to sell any during the bull run, if you dont sell any what bull run did you have. The share dilutions have woken up investors in crypto or they should of!
Actually quite of few of us were saying they should sell some at the high levels last year but c'est la vie.
The question is not about whether BTC is going to zero (that's a different question). It's how long can miners survive at these prices and what happens if it falls further.
These are businesses. They don't have the luxury of just sitting it out for two or three years like they could if they were just holding BTC and nothing else. They have debts, they have running costs, they have (or had) growth plans and they have shareholders to satisfy (though usually they're at the end of the queue).
As you say: 'No one knows, where btc will be next month'. Nor next year for that matter. And therein lies the risk and at the current level of BTC those risks are that much higher.
Yeah well put PI, agreed totally, long term is the way!
Micheal Saylor, bought 10 million dollars worth of btc yesterday. And for days, we were hearing in the media “Margin Call” blah blah. I understand crypto for a lot of you lot, is a weekly or monthly deal. You need to zoom out, and see how the big miners or HODLers see it. They are looking, years ahead. If you believe btc is going to 0, you shouldn’t be investing in crypto. Crypto is a new phenomenon, no one, not even chaebol, knows what’s happening.
If arb had sold its hodl at $60,000 and a few months later, btc was $100,000, the same people on here, that are saying, hodl should be sold, would be saying, why oh why did they sell the hodl. No one knows, where btc will be next month. No one.
For me this debate has become pointless. No reasoning with some. Imho
The way miners advocated hodl last year, any sale below 60k is failure.
Here we are scraping 19k
3 bullets for a 3 chamber gun! im sure la will go for those odds.. and survive x;)
What does the lottery have to do with Argo?
Lottery ? holding these miner stocks right now feels more like Russian Roulette lol
I feel like the gun is loaded in three chambers ! (number of miners I'm holding)
I doubt any miners are selling because they think BTC is going much lower, those like Riot, CleanSpark, Corz did that earlier anticipating a drop. No, those selling now will be forced to and perhaps recognising that if BTC were to go even lower and they were then forced to sell they'd be in even deeper trouble.
I don't think many of us would have guessed how quickly it was going to get to this stage but focus has already turned to survival.
"The big miners know this, that’s why the hodl"
BITF sold nearly half its HODL recently and ARB sold around 15% of theirs last month. Others are also reported as selling. It seems they're not HODLing very tightly.
It will be interesting to see in the June updates who sold what last month.
The big miners knew not to sell at over 60k btc last year as well.
That worked out royally well x;) that strategy alone is going to see big miners fall.
PI: "The big miners know this, that’s why the hodl"; many of the "big" miners will be forced to sell their HODL to pay the bills. FIAT is king at the moment.
At these levels some miners won’t have ‘years’ - if it falls much further I doubt many will have.
Yes Hexam, short term it’s very painful this drop. However, when it comes to btc, you need to look at it in years not weeks. The big miners know this, that’s why the hodl.
I’m not sure what the logic is of small miners being more likely to go under than big ones. Could argue the bigger ones who have overextended themselves in the pursuit of growth are the most at risk.
As long as small miners can pay the electricity bill they should be ok as they probably have little else by way of outgo.
Also not sure the intel rigs will be any cheaper. Depends on how far into the contract ARB are.
and you may understand why its a curse.
Chaebol, In a year or two, you will understand why it is a blessing. The miners that can weather this storm, will come out bigger and stronger.
Pi,
What does the lottery have to do with Argo?
“this btc drop is a blessing for ARB”
yeh to even think that let alone write it, is fooking mental. but thats the hopium of overextended retail clients......Argo and many of the miners are in a death spiral right now and the only thing that can solve it, is a rapid increase in btc, the rest is all theatre.