Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Apologies if this has been discussed before: Pomerantz Law Firm Announces the Filing of a Class Action Against Argo Blockchain plc and Certain Officers and Directors https://mail.google.com/mail/u/0/#trash/FMfcgzGrcPGDCJlVBVXLrJxspbMzxKMR
Not my idea of good news but not surprised!
The last 10 days seems like a lifetime! I’m still reading this board as I’m still interested in QBT. The BIG Q for me is did I sell out too soon? Possibly. I think it’s pretty well-nigh impossible to know how this will play out. Yes, there are some very different views with some being expressed constantly and some with well thought out reasons. Although I sold out and took, for me, a massive loss AND closed my ISA and trading account, I do wonder if I would re-enter, albeit on a much-reduced scale. I used my funds to help my wife and kids but nothing like the extent I’d hoped to and with no ISA, it is a very different playing field. So be it.
Recently it seems that there is less positivity here. FTX knocked the crypto world, and QBT, for six and ARB’s predicament today is not helping. Really ill-timed on ARB’s part as a major concern when I sold out was if QBT’s SP was below 1p on REPO day, what would Eufingest S.A./MC Strategy S.A. want to extend FG’s REPO? If they do great but equally, if not, that could be a red flag as they may prefer to go for their 1p switch - as unlikely as I think that is. One thing for a near certainty - as is possible, THEY will know what is going on. GLA holders, 600
Jambone, thank you for your polite response, so I will reply. I accept that I may have made a huge mistake in selling and closing my accounts. Basically, I see QBT has got some positives but some negatives - a lack of hard facts. Up to 30% is not as good as the specified 7% a year ago; It’s things like “up to” that I have a problem with. I won’t dwell on the negatives, that is not good for the believers here. There are many reasons to like QBT/FG, you listed a few.
In answer to your question, having taken a £20k+ loss, I keep looking because I can’t stop myself wondering if I should have continued holding. I did de-risk last April but was encouraged and bought more. With health, age etc I decided I could help my family for certain by closing my accounts and have more time with my family. I will leave it at that. I do not want to add to the problems on this board but equally, I believe peeps should dig deeper in case all is not as some posters would have you believe. ATB
Suthy, I take it that your post, “Non investors and people who have sold out posting at 7am in the morning, you have to laugh. If that is not FOMO I don’t know what is" is directed at me. Well, if so, it strikes me you are a hypocrite - check your own posts this morning.
I also recall you claimed to be a Chartered Accountant working in the crypto world. I cannot imagine how you have the time to post 232 times in the last 30 days. Similar stats to a troll? You don’t post facts, or anything checkable. How many QBT shares was it you claimed to have had 5 or 8 million and still buying?
You do seem to swing with the popular vote. You don’t like anything that could be considered negative but at the same time applaud anything positive - no consistent rational thinking with your posts. Period! I at least try to provide a balanced view.
Having sold AND closed my ISA, which I’ve added £20k each year for at least the last 12 years how on earth do you work out it’s FOMO? If I wanted to buy back in, I’d have kept my hard earned in my ISA!!
I tend to be an early riser: 7:30 is late for me but by then I have done a few hours writing, helping others less well placed and fighting legal battles.
Peeps need to see you for what you are, 600
Suthy, I did sell out as per my post ‘Pay attention’ yesterday. I think if certain people want to keep hammering their convictions that this is a sound investment and ignore the ‘red flags’ then I am within my rights to try and maintain a balanced view. What I posted this morning “is will Eufingest S.A./MC Strategy S.A. want to” extend FG’s REPO. If they do great but equally, if not that could be a red flag. Never liked ramping or de-ramping; I prefer a balanced view where peeps make up their own minds based on facts rather than supposition. For your information, I am still interested in QBT, in the main because I could have made a really bad decision by selling out at a substantial loss. Only time will tell. ATB
Q. Are these options, FG is trying to repurchase some of his shares he had by way of options he had previously taken. Again, is it down to FG, he may want to but will Eufingest S.A./MC Strategy S.A want to? If the SP is below 1p on 15th, maybe they will choose to convert to shares? A really big question as this will tell us if a major holder still has faith. GLA holders, 600
Magnum, my post at lunch time included "Eufingest SA, 86,254,733, (8.65%), Garth Webb, 43,200,000, (4.33%), 34,286,481, (3.44%), and Pegasus Pirouette Capital London Ltd., 26,932,277, (2.70%)" and then we also have FG's at just under 3% (+ his REPO?>). I would only really start to worry if we were seeing sells in the multi millions as that might wek=ll mean the 'sticky fingers' were selling. There have been very few 1m sells and few more around the 500,000; some around that and below were mine. IMO, no need to panic, I decided to play it safe. ATB
Thanks for the kind words. Let me be clear, I sold because for me, the risk/reward, has declined and dramatically. I’m in my 70’s with a few deteriorating health issues so I decided I’d better get out, take my money and run. I have a wife, 2 children, 4 grandkids that I adore. By doing this I can help them more, waiting is a risk. I went one stage further; I closed my ISA and trading account as I will not be investing anywhere again. I’ve thoroughly enjoyed the years I’ve been here, but health is more important than the fun, mind you it hasn’t all been fun!
Added to this was the last Jeremy Hunt’s mini budget with the tax advantages of CGT being slashed. If Mr Putin continues his stance, I am concerned the fantastic advantages of a Stocks & Shares ISA will be hit too.
Since CLP days, I’ve seen to potential and whilst bitty is in the doldrums, I do believe there is a massive potential for the technology being developed - I can’t figure out why FG is not looking at Web 3.0 and blockchain technology in the wider context.
The appointment of the two NED’s maybe early days but to date there is no evidence of any contribution from them. Potential yes. Likewise, the promotion of Dr. Rita Pizzi, to the Chief Research Officer is yet to have proven beneficial. My trust in FG has waned but more to do with the appalling ‘communications’.
I accept I may have made a colossal mistake but on balance I believe I’ve taken my best option. The thought of losing more is a recipe for disasters. I should subscribe to a HEALTH WARNING and neve check on QBT. GLA holders, 600
I sold out and even closed my ISA and trading account because I have no intention of any future investment. I was all in here but sold at a loss of £21,372.29. Obviously, I’m still checking in - out of curiosity. This is not in any way a de-ramp but I am concerned peeps are living with false hopes.
A few pointers for those interested but as always, DYOR and base your decisions on that:
• Today’s news is late - the cut-off date for any appeal was 7 days ago (25 November).
• The appointment of the new NED, the lawyer Mark Trafeli, was announced on 25 Nov.
• The previous announcement of the new NED, Peter Fuhrman was announced on 12 September and FG said, in effect, the selection of an NED took long and complicated negotiations. The all-important question won’t be answered, when was the appeal filed?
• The insurance companies have not, as yet, paid up. Who thinks they will before an appeal is heard?
• How much would a half decent accountant/lawyer etc get paid? Insolvency experts get paid more than £500 hour (check out the administrators on London Oil & Gas’s case & IOG). How much will QBT receive net? (remember, the 30% commission when we bought the debt, plus FG’s 10%.)
• I can’t see QBT getting anything before at least March 2023. Meanwhile how will FG fund our expenses?
• We can’t afford to pay for decent newswire service hence no show of news too often.
• QBT is heavily biases towards options instead of salary. How many of the team are getting paid a salary?
• We were fully funded to 31 Dec 2022. How will we stay afloat?
• Surely any licencing deal needs to be announced now (probably needs to follow a second patent application) and before the SECOND REPO date on 15 Dec.
• If no licencing deal, where is the income coming from to keep running?
• Are the results good enough to get a licencing deal - consider the history here.
• Consider too the number of companies FG has run and made a profit AND consider the number of times FG has formed a new coming (i.e. Brainspark, CLP).
• What will happen with the major shareholders with the REPO and sub 1p SP? Eufingest SA, 86,254,733, (8.65%), Garth Webb, 43,200,000, (4.33%), 34,286,481, (3.44%), and Pegasus Pirouette Capital London Ltd., 26,932,277, (2.70%).
For me, the risks outweighed the rewards here so I decided to get out and use the money I could salvage to the best effect. Sadly, not enough to do as much for my family as I hoped.
I sincerely hope holders here do make some money so GLA, 600
PAS14, Very intereting article, thank you.
I'm wondereing with the news we've had this week, whether FG and the team, have buried themselves in data as they have pushed the boundaries which in turn has made the vefirification more difficult. Maybe it has become too big a task? A JV with IBM is almost certainly not on the table but wouldn't some sort of 'working together' be someting to consider?Especially since you and I see blockchain technology far bigger than bitcoin mining without the current - dare I say 'collapse'. I do see bitty pulling back provided some miners continue to mine. Who knows, WTFDIK?
Volome is still pretty insignificant IMO. A handful of 1m+ sells but nothing to worry about id 998m in issue. Pretty sure some of the selling has been to get away from the trash invasion. Have a great w/e
Waynesmith, off topic but yes, the official inflation figure is deceptive. Different peeps buy different things. Food is one of the basic needs for all of us. My son is a blacksmith and the price of steel has gone through the roof but that is a luxury item. The stupidity is that he's busier than ever! ATB
Suthy, yes I thought it was a good budget - given the circumstances. I have to say that the reduction in CGT is a blow as I tend to love the tax free allowance as a pensioner. Makes me think FG needs to get is finger out.
Hivering around 1p is worryiing as Eufingest SA can convert the loan to shares at 1p and with the REPO date of 15th next month, we need news. ATB
Following Chancellor Jeremy Hunt’s reform on “unearned income”, the tax-free capital gains tax allowance will be reduced from £12,300 to £6,000 from April 2023 and then to £3,000 from April 2024.
Investors with capital gains over these thresholds pay 20%, or 10% if this amount is within the basic income tax band.
Find out more: SIPPs explained | SIPP calculator | SIPP drawdown
Hunt also announces that the tax-free allowances on dividends would drop from £2,000 today to £1,000 next spring, and then to £500 from April 2024.
Dividend tax is charged at 8.75% for basic rate payers, 33.75% for higher rate payers and 39.35% for additional rate payers.
Private investors therefore could face greater tax bills if they do not take action before the new tax year.
The first point of action is to make the most of pensions and ISAs to minimise tax.
Jambone, I think you will find that whilst PRN's do save money, that when you check the RNS 'SOURCE' here the PRN's do get through. They must have found an even cheaper source that doesn't. I agree, it is a really bad move. ATB
There are several factors to consider with the costs of mining bitcoin. Purchase of hardware, software, staff, accommodation, and electricity to name a few. The following link might interest some here. Kuwait is the cheapest at $1,393.95 and Venezuela tops the list at $246,530.74. The Table near the bottom provides what I take as a reasonable attempt at providing the profit.
United States is $21,088.53 per bitcoin with a loss of -$1,332.00. Cheers, 600
https://www.visualcapitalist.com/cp/the-cost-of-mining-bitcoin-in-198-different-countries/
I’m amazed that peeps are being taken in by this 30%! In the highlights “Preliminary results of Machine Learning Method “B” indicating 30% improvement over commercially available ASIC chip-based miners” I read PRELIMINARY - NOT VERIFIED, INDICATING - NOT ACTUAL, and COMMERCIALLY AVAILABLE - WHY SAY COMMERCIALLY?
Also, under Highlights “Appointment of Dr. Rita Pizzi as Chief Research Officer, why is that a highlight, we were given this news ages ago.
“indicating a statistical improvement of up to 30% over existing commercially available ASIC chip-based BTC miners.” STATISTICAL IMPROVEMENT OF UP TO 30% - KEY WORDS - UP TO and STATISTICAL.
FG’s comment “could provide a tactical shortcut to generate revenues.” COULD!!! And what is a tactical shortcut?
No mention of ‘THE TEAM’ securing any money from the Sipiem Court case where bankruptcy means we might only get €283,500. (Only one of the insurers involved in the litigation was held responsible for damages (with a liability capped at approximately €450,000). Maybe this will be after 25 November if they appeal? (The Company reminds shareholders that, as announced on 10 September 2019, the Sipiem Claim was acquired by CL17 for a consideration of €50,000 plus 30% of any funds recovered) and FG’s 10%. SO how much will this ‘TEAM’ get paid IF they secure any payment?
Of the 18 company directorships I looked at where FG was a director, only two made money. Funded to the end of the year so what next? QBT morph into something new?
To sum up: Up to 30% is a far cry from 10, 100, 1,000% faster let alone the fastest on the planet and at that, in MAYBE 2 to 3 years. Sold this month BUT GL to any brave enough to hold/buy, 600
Can now buy at 1.1p, I’ll wait
Bought another 439,842 this morning but wondering if I bought too early again - price might drop later today? Time will tell. GLA, 600
As anticipated, the Bank of England has raised interest rates by 0.75 percentage points to 3%. It is the biggest single rise in the cost of borrowing since 1989. Maybe the markets will settle a bit now?