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I believe FG also stated whether the new Intel chip could cope.The thing is until we get actual facts and figures,then this is all pure conjecture and that must be how the market sees it.
600- you have raised a good point. The breadth of the research is staggering and this research takes a while. I am taking a steer from the last RNS (which states two months of testing). I really do believe that FG is going for something very speacial here and is aiming to mine in a much more efficient manner. The use of the word "step change" is incredible when you are talking about a sector worth hundreds of $billions (was valued at $1 trillion before drop in BTC). Most LTH's are fully committed here now and understand that this type of research is hard to quantify. However, in saying that i agree with your point on not making statements that shareholders will latch onto.
FG does also comment on been faster than Intel and that he wasn't worried.
Good morning, Swerve, I can add to the frustration of FG’s saying soon. On 3 December last year he said, “We are APPROACHING the goal of mining faster and cheaper than anyone else on the planet”. Listen from 1:12: https://www.youtube.com/watch?v=Uyx67cydEMI. I think comments like this and 10x, 100x, 1,000x faster have been taken as gospel by many who bought here. Approaching and soon are, for me, sales talk, not fact.
Let’s not forget Intel saying they have a chip that is 1,000 times faster - see the headline on 17 May 2020 “Intel unveils latest AI chip capable of processing data 1,000 times faster than normal ones” https://technologymagazine.com/ai-and-machine-learning/intel-unveils-latest-ai-chip-capable-processing-data-1000-times-faster-normal-ones
If it were not for the likes of the above, I would have been clicking “Strong Buy” here. So why am I here? Quite simply, it is the breadth of the R&D. This is also why I think we will be getting news in stages. As I posted at the start of this thread, I think we will get news on the testing first.
I am also hoping, the timing of this will keep us ahead in this rat race. Advances with technology is here to stay so timing is critical. ATB, 600
Admittedly this statement is annoying, surly they should have made a decision by now on the patent application, I wonder if the patent has already been applied for however they wish to release this along with the testing results therefore it will not show up on the patent website untill such a time that they are ready?
The filing of the second patent for the SHA-256 optimisation has been put temporarily on hold. This is pending results of the performance of potential improvements which the Company believes are an alternative to an existing patent, and within a similar speed and energy consumption order of magnitude. An update on this patent will be released once a decision has been reached.
Iget your point 600 but twice now he has said soon and we are many months down the line. He should not have stated that because on both occasions the mm's have taken the price down and is still declining. All because what he stated to the market given that we know and he knows that its almost impossible to state a timeline as do the market. The msrket works on what its told.
Keep the faith
Would by nice if it does drop this week or next, finally got a date for exchange on my new house :) July 15th, and it's my bday on the 14th ;) would definitely come in handy
The truth is nobody knows when news will next drop. Dare I say, including FG. For me, part of being patient is accepting news will come when the R&D has reached the next stage. I do not think anyone could have provided a timetable for these ground-breaking developments. Whether we get some news in the next 4 weeks, during August or, September is not something we control so I am not worried BUT the clock is ticking and someone else may steal our plunder. I do think next week is wishful thinking but only time will tell. Exciting times ahead, GLA. 600
Well we will see. As long as the news is good I am
not too concerned about when it comes out. Although
I still feel we will get some news in back end of July .
I have been saying that for a few weeks . Let’s see what happens
August is normally a very quiet time as most company take a break so can't see much news coming out now till September,which makes a bit of a sick joke about news soon for the second time.
I was actually ok with the results as £ 2.635m of the loss is due to share options .
There were also some hints of good progress being made. We knew we are not revenue generating so it was to be expected and still in the research phase , hopefully mining at some point soon.
Small steps Addison, just like qbt. It will take time but IMHO will come good.
In my earlier post 1.60p is I believe the bottom, may go slightly lower but I think around that price is the lowest we will go. On poor news last week about results and btc still struggling we still held steady imo.
That's why I believe the only way is up ( can feel a song coming on.)
Keep the faith, probably a little turbulence on the way but buy on the dip and reap the rewards later.
Hopefully one day I can join the club of owning 100k shares or 1million shares in a half decent company, with QBT being my only investment (started collecting in November) with just £200 then most weeks just putting aside £50 and buying more QBT I'm now up to 46,000 shares, which for a new investor could be enough to get me on the ladder of making wise investment decisions and take a nice chunk of ££ should we be successful, if we fail I think this will probably be my last investment. My average is sitting around 2.2p looking forward to each been worth 10p so I can take out all the money I have put in and leave the rest in a free money :) until 50p where I get my workshop and happy days
Steve- to be fair I accept that the current price of BTC is a large factor
in this situation and as a potential miner it is only to
be expected that we track BTC which is pants right now.
The last RNS (accounts) talked about consistency and
leader in the market so obviously they must still be
quite confident. The closed period is now done as you say so I am expecting
some key news now over the next few weeks. The operation update RNS asked
for two months as I mentioned before and it is barely
6 weeks. The next update I believe will be a very interesting one and
if successful could set the share price on its way. It’s still remains
one of those shares I do not want to be out of or even consider de-risking at
this stage. There is just too much news on the horizon and quantum computing is
up and coming now
few not fee lol
RhHh, many are undewater here and I am one of them, my average is 3.2p so 50% down on this investment alone and it doesn't look good when you look at your balance sheet.
A fee weeks ago as you know qbt was trading around 1.5p without any news, the markets in general are very poor, inflation, war, strikes etc etc. What I am trying to say is qbt is now trading at 1.6 with the news about poor results which all lthd knew was going to be poor. Qbt is in experimental stages so income was always going to be poor but look at the fundamentals and what you invested for.
This to me is a very exciting company and I believe I am in at the early stage even though I'm 50% down, once news drops regarding patents, mining btc, being quickest to mine etc then this sp price will be history.
Everyone has reasons to do what's best for them in these situations but IMHO this will come good but everything is a risk in life and everyone has to do what's best in their own interests.
Also like Steve888 said is great advice.
Thanks, Steve. I am frustrated but have no intention of selling for a big loss. I'm so far underwater that I'm expecting to meet Captain Nemo soon!
I was in a paper loss 4 years ago during the clp era.
My 20k investment was worth nearly 6k. This was all the cash I had at the time and wasn't good for me.
Just before we changed to QBT I was talked out of selling up by a former holder.
Last April during the rise up towards 4p I sold chunks of my 2.6 Mill shares to initially get back my stake, probably too early but was happy.
I sold some more and took 16k profit to become mortgage free.
I currently have 400k shares left and my dream now is early retirement.
If you can stay and not needing what is left of your investment, hang in, it does hurt when you look at your "paper" loss but the elation when you see it rising before your eyes is worth it, I believe it will happen.
Whoops - BIG ERROR - I meant to say I AM NOT A FAN OF ANY CRYPTOCURRENCIES. Apologies.
RhHh, I hear you. I don't know if anyone is a totally happy bunny here. At the risk of coming over as too pro, I will say three things. 1) With the final results due 30 June at the latest, there was a closed period for TWO months so no announcements could be made then. I doubt when FG set up the REPO, he thought about that. 2) In extending the deal, he got a reduction in the interest rate payable to MCS and for me, that is a huge vote of confidence in QBT. 3) Who would have thought the crypto world would crash? Bitty has gone from $69k to $19 since 10/11/21? Like it or not, we are linked with bitty. I'll say it again, I am a fan of BTC and have never bought any cryptocurrency, miners yes. I don't feel I can blame FG. I do like the risk/reward ratio and really hope they pull their fingers out - and before anyone else. I'm over £20k down at present and it will hurt if we don't pull this off. ATB
RhHh, I feel your pain. I could say so much in favour of this enterprise and so much against (based on how it appears to be panning out). I'm on the fence, having spent nearly 40 years in the electronics development industry, I have seen more failures than successes. That coupled with the track record of FG makes me very cautious to big this up currently.
I will say, we're nearly at the bottom of how bad this could be. So the positive straw is that things don't have to change much to become positive. Along with the chance that things could become massively positive.
Seriously peeved (being polite here) with the Repo. Should have been communicated last month when it fell due. Meanwhile the staff share options have about as much value as Izal. FG needs to up his game re comms here. I am badly underwater here so please don't call me a troll or block me. If you are seriously happy with the goings on here then please feel free to share.
PAS14, no need for an apology! In the ten years I’ve used these LSE boards, I have never seen a reply. In fact, I can only recall one who has something resembling a brain. I’ve learnt the hard way that it’s a waste of time asking them anything. ATB
My apologies 600 .... i got entangled with SSonic ..... just that sometimes i feel the need to call them out , the negative posters ... and ask for the facts upon which their comments are based ... and invariably they dont reply ..... and in partic when they make idiotic comments about ' the mad prof fleecing us all ' ... ridiculous !
ATB to all here
600- as a key employee who has performed it is
probably in FG’s interests not to extend. Although
to get to 5p by the second week of August 22 is a tall order
the way the markets are.