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Great post this morning (0629) @tedoby. As always a good read thank you.
The higher expensive price is also coming for sure. I’m in this for the long term so not concerned with the day to day volatility. No panic selling is needed here, no one can say predict the SP. Steady the buffs!
That’s fine you was also spouting how come this is not £5 because btc was 65000 today 25% drop Argo way way way overvalued at £3.40 sold mine at £3.10 so don’t care just waiting for a cheap price today which is coming for sure
Those who are now coming on here and trying to cast doom and gloom because BTC ‘dipped’ overnight, wish to conveniently forget that at the height of the all time high when ARB reached 3.40 - BTC was trading circa $51k - we were also trading last week and this at one point 1.25/1.30 when BTC was $57k and 2.10 yesterday when BTC was circa 53/54k. Trying hard to exactly correlate ain’t going to work clowns.
What I can glean from BTC right now is it’s on a pattern of upward trend (it’s not straight obviously) and it does heavy old dips and then higher highs as it bounces off bottom line. It may take all weekend it may happen today to start climbing back up to attack 60k again and it will simply run fast when it does breakout. However nothing has changed here at ARB except we’ve been shown and praised to be heading towards being one of the leading greenest and efficient miners. We also mine other cryptos don’t forget -eg Zcash. All good.
Tranquillo gents and ignore the noise on here.
IMHO DYOR GLA
Hill18. -"Until recently" not currently.
Good morning all,with reference to heavy shorting of Argo the most up to date figures I can find indicate 0.25% of ARB.l being shorted ,unless ARBKF has massively different figures dont see how less than a million shares can have the effect you say.
@SABY16... this is crypto a week is a long time! :D
As I’m relatively young and the money I’ve got in here isn’t something I need access to at the moment I’m not planning on moving on any time soon. From the interviews I’ve seen I think Argo will diversify beyond BTC and with the facility in Texas have a very good home to establish themselves as one of the leading blockchain and mining companies in the world.
Obviously I could be completely wrong but it does mean I’m happy to wait at least 12-18 months to see how things play out (having bought in December) in Texas and see what those monthly operational updates are like when we’re properly cooking on gas (renewable of course).
Excellent post!!
Thank you Tedoby. Needed a reminder been here silently since getting into Argo in January.
Until recently Argo was going through a common end of month cycle of being heavily shorted on the back of Bitcoin going through the same. Shorting starts in earnest about the middle of each month and runs on to around three days or so before the options end. Then the SP's revert. So this month shorting BTC should end about next Wednesday given this months options are due to expire on Friday 30th
What's significant this month is that production rates in China have dropped and the outages of Bitcoin from the exchanges last weekend was huge. Something like $8bn was removed last Sunday alone.!These two things had a short term negative impact on BTC’s price. However the outage issue in China should make quite a difference to ATB's fundamentals to the good side.
If that wasn’t enough this month we wereI still going through the end of seller/s getting out and the hares from the recent placing shares being flipped. If Timis and any others aren’t aren't quite out yet they must be running on fumes by now. The Coinbase launch has been a disruption too I think although it's effect has not been as profound as I first thought.
Then perhaps there's been movement out of BTC due to the Attraction of Altcoins. But again I don't see that as being all that significant and the likes of Dogecoins influence will soon wane.
I see the fundamentals in ARB improving everyday. I also see the trend in BTC continuing upwards albeit with minor disruptions along a bumpy road as it finds its rightful place mainstream.
Very soon ARB will be mining very close to 3000 coins/annum. So with incredible margins and the price of Bitcoin set to continue and output growing what's not to like. Especially so when we enlist on NASDAQ which I’m confident will happen. There will be those that butt against because they don't like change and those that don't really understand it yet. We should accept that. But at best they're only minor issues that will be overcome in time.
Crypto's generally and Bitcoin in particular has become unstoppable now in my view. Mainly because Bitcoin with its uniqueness is firstly value creating and a store of wealth but secondly can also be used as a currency.ARB has become a highly profitable and attractive investment in my view even at these lowly BTC prices we're seeing today of around $50k and as I say the fundamentals are improving before our eyes. When valuing ARB the prices of Bitcoins cannot be cisidered alone especially when other metrics such as production rates and costs are improving daily. Not to mention that ARB’s value is not wholly reliant on Bitcoins prices.
Crypto miners enjoy relatively high price/earnings ratios and p/e ratios of between 30 and 40 is not uncommon. ARB's metrics are made known to the markets on a monthly basis so run a valuation on an earnings metric basis if you'd like to validate what I'm saying.
“ Similarly, I don’t understand why power outages at BTC miners in China brought the price down the other week”
It exposed one of the risks in a btc investment.
https://www.reuters.com/technology/fears-biden-tax-blow-leave-cryptocurrencies-ether-bitcoin-ropes-2021-04-23/
Analysts predicting fall will be temporary , institutions more bullish and will continue to buy the dip.
Panic really nothing g else.
People talking about long term hold. What the time of long term. For example 3/2016 I got spiked with 88e @3.50 and was able sell at profit last mont @4p more than 5 years of holding once was more than 90% down.
Question is would you sit here 5 years. For me anything under 1 year is short term.
As an advocate for “zooming out” on all things Argo and BTC I think it’s useful to remember that we last saw BTC at around this level last month (7th March) and at the time Argo was sat at £2.50
I’m sure we’ll see a lower opening price this morning and we’ll likely see some selling off before the weekend, plus perhaps some profit taking for those that bought in on the cheap.
For those that are looking at this as a long term hold this is just part and parcel of the share and not something (IMO) to be concerned about.
Have a good weekend!!
If it's bitcoin your mining then your bound to see a drop it will hit revenues. 20% incoming
Why is Bitcoin easier to mine at a lower price? Is that built into the algorithm or what? Similarly, I don’t understand why power outages at BTC miners in China brought the price down the other week. Surely this was good news for competitor miners elsewhere?
Biden and his war on anyone that has had any success in life has sparked a little sell off to avoid the tax hike, in BTC terms it’s soon time to buy the dip, in Argo terms we shouldn’t drop that much, imo.
Firstly, big buys after hours yesterday and not the sells that we’ve had for a long time. Timmins must be out which is great news for NASDAQ listing and SP stability. A bit of panic about BTC overnight - ok so it’s dropping but we are mining more and I believe it’s easier to mine at a lower value, am I right? So Argo will mine more than we expected and hodl them. That’s good for the long term, no? Also mining Zcash and exchanging for BTC at a great price recently. Just keep mining away and hodling Argo and we’ll do very well : )