I think the reality is that a fair few peeps (not investors nor day traders) are attracted to AIM because they think they can make money quickly. They plunge in without much, if any, research but then start reading BB’s and maybe doing some proper research AND THEN REALISE there are risks. Enough said? GLA investors, 600
Thanks 22, it always helps to understand peeps thinking. I certainly can't blame anyone from pulling out if they think their hard earned is going to disappear. If I see that coming I'll be out too. I did reduce my holding substantially 3-4 months ago as I felt I was over-exposed - too much to lose! I have been buying back some and averaging down recently.
I do not want any wishy washy news as I think that would risk loads of peeps selling and if that volume was significant, I'm not sure how/if we would recover. At the end of the day, I believe we are onto a winner but we don't know if there is anyone else out there that could steal the prize. I trust FG and like his style. I just hope I'm right with this judgement! Please FG, give us some really good news - soon. For me, that is before the end of September with his new REPO date. ATB
22Starship22, Ok, you are only concerned about the testing results, I understand that and that others will be too. I'm interested in them but more so, where this might head after that becasue that is where I see the real growth. One thing I did dig out today is that the quantum side of this is nearer than I thought and that, IMO, will send us further north. We've had discussions here on when to sell. I know if I sold any to early, I'd be sick as a parrot. Anyway, keep the faith and ATB
For me, the key news has been, but please, DYOR: -
1) On 2 June 2021: The one-year service agreement with international cryptography expert and their 5p options which can be exercised between 15 February 2022 and 15 August 2022. Despite asking the company, I still do not know if the expert’s contract has been extended or whether their work is finished. IMO, it could be that this work is done, and we are awaiting progress on the testing. Any extension should have been announced.
2) On 6 July 21: Teamed up with D-Wave.
3) On 18 August 2021 FG said “Over the past few months we have resisted the temptation to mine for cryptocurrencies using ‘standard’ methods as it is not part of our current strategy. QBT is looking to be a highly disruptive influence ….”
4) On 11 March 2022 FG said, “We are also conducting internal and independent performance measures to help us assess mining speed and energy consumption within the ASIC line of research, which is now at the simulation stage….”. “All of the results will be verified before any cooling techniques are implemented which, if applied, could allow for a further increase in speed.” We were also told that the results would be verified by TWO INDEPENDENT AUTHORITIES. That tells me FG is making sure what we are working through will stand up to any legal challenges competitors may launch. How long will this verification add to the process and the release of the news we await or has it already been verified?
5) On 23 May 2022 FG said “QBT is addressing an opportunity which represents A STEP-CHANGE FOR THE BITCOIN MINING INDUSTRY….. , The results of our Bitcoin mining endeavours DURING THE NEXT FEW MONTHS will determine the real value of our approach.” “At the same time, we continue to improve the chip design of ASIC based traditional mining by optimising the SHA-256 algorithm and its silicon implementation. Our Quantum Computing team HAS NOW SUCCESSFULLY ACHIEVED ITS FIRST CORRECT QUANTUM COMPUTATION OF A REDUCED SIZE VERSION SHA-256 AND IS NOW SCALING UP TO THE FULL SHA-256.”
6) On 1 July 2022, “The term of FG’s REPO to repurchase 5,000,000 ordinary shares of 0.25p each in the Company (“Ordinary Shares”) has been extended to 30 September 2022”.
In May we were told the results of our Bitcoin mining endeavours during “the next FEW months” will determine the real value of our approach. Also, Our Quantum Computing team has now successfully achieved its first correct quantum computation of a reduced size version SHA-256 and “is NOW scaling up to the full SHA-256”. For me, the words ‘FEW’ and ‘NOW’ supersede the ‘TWO MONTHS’ some are fixated on.
Peeps have put a lot of weight on DURING THE NEXT TWO MONTHS viz. “During the next two months, the Company is aiming to get theoretical evidence of whether the number of Qubits available on the next generation of commercial quantum computers (expected to be released into the market in 2023), will be enough to sustain the Company’s full SHA-256 computation.”
Again “EXPECTED TO BE RELEASED INTO THE MARKET IN 2023” doesn’t get mentioned on this BB.
The above gives a synopsis of how I interpret our position. I’m often wrong so peeps need to go by their own research or gut feeling - I’m sure many PI’s don’t thoroughly research the company before parting with their hard earned.
The bottom line for me is that what we are seeking to achieve is hellishly complicated, but FG has worked out his plan. I always prefer to allow some slippage to avoid disappointments. 15 August, and 30 September may be premature unless we are going to get news piecemeal and that would, IMO, be less influential with our SP. 2023 (365 days of it!) could be the blockbuster news according to the RNS on 23 May but I would jump with joy (figuratively speaking - jump) if we were to see the SP leap in the next few weeks.
GLA, and enjoy your w/e, 600
WillIwontI, I’m not desperate. I would say that with 998m shares in issue and hundreds, or probably thousands, of PI's owning some, there might be a few who are desperate. Also, I don't think most PIs post here on a regular basis.
Desperate or not, QBT to me has the greatest chance of anything I have ever bought in multi-bagging. The exciting part is the unknown, could be a flop, could multi-bag 10x, 100x or what? Now I bet some will say I’m ramping but all I’m saying is QBT’s potential is, to date, an unknown but from what I see it has MASSIVE potential. But we are in a race so peeps need to DYOR.
Unlike some, I see the news arriving a little later than they would like. We seem to have different interpretations of the historical news. No matter, we need to respect the genuine posters views, but ignore/block the trolls. They will get out of bed when we have any decent daily volume due to news. I notice today’s NEWS (PRN) was not released here or on the company’s website so peeps might do well to sign up for an email alert from the London Stock Exchange. Use https://www.londonstockexchange.com/personal-investing/tools/email-alerts to register and request the email alerts.
Enjoy your weekend, 600
Seems that peeps are preoccupied with BTC and/or the AGM. Firstly, the AGM; we know what the agenda is and almost certainly the 998m votes have already been cast. Nothing, IMO, here that will have any impact on the SP, so I don’t understand the ‘chatter’. BTC is another matter but until we announce the results telling us how quickly/slowly we are mining them, it will not matter what bitty does. Personally, I think bitty is over the worst and hope we see $35k to $40k within 6 to 12 months from now. One thing for sure, bitty is volatile. So, unless you are trading BTC, why worry?
The thing that will have an impact on our SP is the news on mining and so any news on the various avenues of development. Again, for me, this news will some step by step as each development achieves a reportable result. Until then, nowt. I don’t need to second guess the results, nor the SP. I am relaxed and fairly confident FG, and the teams, will make progress and WHEN they do, we and the market will know and then we will see some volume here which will dictate our SP. GLA, 600
I’m pretty sure the only news this week will be the results of the voting. I agree the company is at a crucial time (hitthebigtime). I do ask why/how FG got the timing for his REPO wrong and can’t understand with that, how he got the ending of the expert’s 5p options next month wrong. I say that because Se the options are at a higher price to his REPO. Doesn’t add up to me! Would love to be wrong. GLA, 600
HtotheK, can we hold you responsible for the drop from $23303 @ 03:16 to $22717 @ 04:06 this morning? "if it holds 23k". Bitty is nothing but volatile - maybe over $23k by 08:00? Regardless of bitty, QBT has interesting, and exciting times ahead. ATB
Obelix, I accept that the market values us more on our assets than our potential. Assets to me, amount to one patent application, one court hearing going well but a load of debts. Our potential .....? I wouldn't be able to put a figure on that at present - What I hope for doesn't count. ATB
Obelix, I understnd your thinking but surely Bitcoin's apparent recovery is secondary to our own news, linked yes but our news could/should send thus on it's way? IMO, it's not the same with bitty. ATB
Addisonshare, I think Suthy maybe confused ARB's monthly operational updates. We had PRN (RNS equivalents) headed "Update on Bitcoin Mining R&D" on 23 May 2022 and on 11 March 2022 headed "Bitcoin Mining R&D Update". They are not the same as ARB's as we aere not officially mining - apparently. ATB
I will be surprised if we do not get news on Friday but I am expecting this to merely advise on the voting - as per the Agenda. The next news is, IMO, going to contain the first of a batch of RNS's on how things are progressing. Could land anyday but I think it will be a few weeks away - sadly. GLA, 600
DSFLAT, great find and thanks for posting the link. New to Mark Moss and found him to be balanced and very informative. Possibly the best and most informative presentation I have seen in 10 plus years investing. A great insight into bitcoin. ATB
What a blunder! There are no sells without buys. Bye bye.
I think it is impossible to put a price on where this might go. £1.00 has often figured in posts here but in all honesty, I think that is a ‘NICE ROUND NUMBER’ and has no tangible calculation behind it. Great if it did! I think peeps choosing a figure is complete guesswork. There is nothing comparable (industry wise), so the next best thing is companies like ARB (6.5p to £2.82 in four months). Pretty much based on their mining. As peeps are beginning to realise, QBT has far reaching applications. Add to that the current predicament with bitty and the uncertainty there. Maybe somebody has a theory in which case I’d like to hear it but at the risk of being called a ramper. I prefer to think I am a realist. GLA, 600
Good morning fellow investors. While we await news, it is important to understand what is happening with bitcoin. To this end, a couple of links to articles I found are: -
https://www.cnbc.com/2022/07/18/crypto-miners-moved-over-300-million-of-bitcoin-in-one-day.html
https://www.cnbc.com/2022/07/17/how-the-fall-of-celsius-dragged-down-crypto-investors.html
In essence, bitcoin miners just moved $300 million of BTC out of wallets belonging to miners in a single day - and in the last few weeks, miners have offloaded the largest amount of bitcoin since January 2021. That’s because miners are preparing to sell their previously mined coins to cover ongoing mining expenses.
Also, in recent weeks, three lending platforms, Celsius, Voyager Digital, and Three Arrows Capital have filed for bankruptcy. Others may follow – see: https://www.cryptovantage.com/news/after-voyager-and-3ac-which-firms-will-the-crypto-crash-bankrupt-next/ The net result is confidence in crypto has taken a bashing.
Against that is the fact that El Salvador and Central African Republic have already adopted bitcoin as legal tender. In November 2021, there were 103 other countries looking to adopt bitcoin. https://www.finsmes.com/2022/03/which-countries-have-legalized-the-use-of-bitcoin.html#:~:text=In%20November%202021%2C%20they%20found,allow%20people%20to%20use%20Bitcoin. One key aspect for adoption is the run away rate of inflation.
Core Scientific, which is one of the largest publicly traded crypto mining companies in the U.S., sold nearly all its bitcoin in June.
Their CEO Mike Levitt, said it’s still profitable to mine bitcoin with around 50% margins across the industry. That’s down from 80% margins at its peak. He also said they invested some of the proceeds into growth-oriented activities, including new ASIC servers.
Long-term, Levitt is optimistic because there’s tremendous positive operating leverage in the business. Over certain levels, every dollar increase in the price of bitcoin is 100% operating income to bitcoin miners. “We would all be cheering loudly if bitcoin were to get back to $35,000, $40,000”.
Productivity per unit of electricity also matters, and when prices are low, large-scale miners like Core Scientific tend to face less competition from hobbyists and small operations. The less efficient miners are no longer viable. For me, that is the key point. The smaller boys are out/on the way out. The selling will stop and bitty should climb back up. At that point if QBT has developed the right software/hardware, these solvent miners will want what we aim to produce. BINGO!
For some here, I recognise that patience is wearing thin, but I think we have a while before bitcoin stabilizes. In the meantime, lets at least have some news on our own bitcoin mining. IMO, things will keep improving. GLA, 600
PAS14, great find. The 24-fold increase is exactly what I have been banging on about - the applications for this technology is ginormous, mining bitcoin is merely the start. ATB
WillIwontI, I'm not surprised you didn't get a reply three times. When you dig into them, Leander's team is a one-man band. The snippet from the website "INTELLIGENT THINKING Gained from years of experience, we know how to craft the
right message and ensure it reaches the key influencers." sends the message to me god help us. Judging by the reply Addisonshare got last week, I am concerned that QBT has appointed them (him) as our PR Consultant. ATB
Got this reply:
Many thanks for your email.
I am afraid we cannot provide individual shareholders with information that is not in the public space as this would make you an insider and is against AIM Rules.
The company is working on various projects to enter the Bitcoin mining space and it will provide a general update in due course on its activities, including the items you have mentioned below.
So, make of that what you will - I'm not a happy bunny given the questions asked last Friday!