Member Info for allforprofit

Today's posts have left me feeling nostalgic for the good old days of swordfishing, high jinks behind the taverna, and even barnacle scraping.

Those posts may not all have been entirely credible (and some verged on the scurrilous), but they were more uplifting than arguments about how many shares a poster has to own in order to be entitled to an opinion about QBT's prospects. Doesn't the imposition of any such shareholding qualification also rather skew the debate if participation is confined to holders of QBT shares - by definition those who thought QBT a good investment when they bought and (not having sold out) still believe so, or as per OSD, believe in miracles?

I assume that most who hold /take an interest in QBT hold BTC directly, or indirectly through companies like Strategy. Rather than obsess over pointless textual interpretation of Gardin's latest ramblings and what they indicate for QBT's prospects - remember he can't release any price sensitive information in such interviews - you would do well to give some serious thought to your BTC positions.

Japan has signalled interest rate rises. That spells the end to the yen carry trade. Unsurprisingly, that has triggered BTC sales as yen borrowers scramble to raise cash to repay their yen loans. BTC is now down to $86k.

Those UK investors who bought Strategy as one of the few ways they could gain exposure to BTC without the faff of wallets etc now see the premium of the Strategy SP to its BTC holdings pretty well eliminated and the Strategy SP at a 14 month low. Since the Strategy business model depends upon a rising BTC price, and borrowing and share issues to buy more BTC , the outlook for Strategy looks to me to be pretty grim if that is no longer possible because the BTC price is falling. I regard Strategy as having much in common with the Ponzi model, reliant upon constant capital inflows. If it is forced to sell BTC at less than the prices it paid to meet its interest and administrative costs, its SP could fall pretty fast, with no certainty that a subsequent rise in the BTC will do much to repair the SP damage: trading losses suffered on the sale of BTC below purchase price wil not be reversed by a subsequent rise in the BTC price.

The considerations for those holding BTC directly are different. If you hold 1 btc, you still own 1 btc , whether the price rises or falls, just as with the ownership of 1 oz of gold or silver. Your decision whether to buy, hold or sell depends entirely upon where you think the price will go, and the constraints under which we as UK investors currently operate when it comes to buying BTC (save as direct holders) , which limit our ability to trade back in if we sell.

DISCLAIMER: before anyone accuses me of being an uninvested 'basher' of Strategy and BTC -

!. I have a modest exposure to BTC through a holding in Coinbase, which under present rules and Hargreaves Lansdown 'policy' I can sell but can't repurchase. I propose to hang on to that. If I could re-purchase I would be a seller, with a view to re-purchase lower. Even if the restrictions upon purchases are relaxed, one has to keep in mind that restrictions may be re-imposed, without prior warning.

2. I formerly held Strategy, but sold out completely (at a profit, I am relieved to say) some while ago while it still stood at a substantial premium to its BTC holdings, as soon as it became clear that BTC ETFs were soon going to become available on the USA market. I couldn't see how the premium was justifiable or sustainable after 'physical' BTC could be held 'clean', without enterprise risk, on the market through ETFs.

I think the answer to your question, OSD, is that some people have tested Gardin's expectations for QBT and its tech as stated in his many interviews over the years against what has subsequently happened, and have learned to discount his statements to adjust for the undue optimism he has consistently exhibited. Other folks, by contrast, assume that he must be a cautious fellow who will take care to underpromise and overdeliver. They accordingly adjust the literal meaning of his words (where a literal meaning can be divined from his words) to allow for that undue caution. [When, as so often, it is impossible to divine a literal or any meaning from his words, they put that down to Gardin thinking in Italian while speaking in English, and 'translate' his words to conform with their own hopes and expectations.]

It is unsurprising that Gardin's words are understood by different people as meaning very different things.

Personally, I consider it unwise to take much notice of his words at all. It seems to me to be more scientific and better analytical practice to assess QBT's achievements and profitability (which are remarkably consistent across a wide range of business ventures) over the years, and to assume (unless and until its statutory accounts show otherwise) that QBT will continue to deliver much the same rate of success and profitability in the future as ut is doing now and has done in the past.

I think there is some spiritual observation along the lines '... as was, is now, and ever shall be..' with which I am sure you are familiar, OSD. Perhaps you can quote it, and thereby express more clearly, authoritatively, and succinctly the point I have done my inadequate best to explain? Over to you.

Nah OSD, I shall not alter the recipe.This is an opportunity to introduce the Greeks to haute cuisine. Stand by for a petition from the locals to Greggs to open a branch in Kefalos.

Excellent sermon this week, OSD. It is a pleasure to see so much research and objective analysis on this board.

I have awarded you a thumbs up.

I shall make my sausage roll recipe available to Mrs OSD for her to circulate when the OSD branch of the Women's Institute next meets.

Not a bit of it OSD. I am just feeding you lines, as a good straight man should. I thought you would run with the joke, and deliver the punch line.

Actually, I am feeling particularly laid back and well disposed to everyone at present, as a couple of my more significant holdings have done unexpectedly well this week. 'Gather ye rosebuds while ye may' is my mantra.

I am surprised that you have not noticed and congratulated me upon my benign mood good natured posts. After all, I haven't mentioned skinned knuckles, drunken antics at the taverna, or even string vests all week. Lets all show the generosity of spirit to give each other credit where credit is due. Come to think of it, that would make quite a good theme for a sermon.

May the sun shine upon you, and all your barnacles have soft shells.

I wish everyone a very good weekend.

PS Taking a leaf from the bulls' book, (no nay-sayer I) I confidently predict that OSD will announce not only that his Ark will come in 30% bigger and 10% cheaper in energy costs than Noah's antediluvian model, but that through his army of well placed contacts he has sourced gopher wood for the below water-line hull. That will be reassuring, as spreadsheets dissolve, and optimism (of the QBT variety) is rather thin and porous.

Apathy rules, OK? No, Mrhanji. QBT is flat on the week, and everyone is giggling with relief that they are no poorer on Friday evening than they were on Monday morning.

That has given OSD a week with no SP distractions to make progress with building his financial lifeboat. OSD is no Gardin (the bearded exponent of complete radio silence).. I have every confidence that we can rely upon OSD to provide a comprehensive progress report on Sunday morning.

I have not looked in here for a a day or so as my attention has been on AAZ where I have a significant shareholding.

I think OSD is right, that most shareholders here are resigned to the probability that if QBT is successful that success probably won't come soon, and won't be life changing for shareholders, and that the longer QBT meanders on without any of Gardin's optimistic predictions comu=ing to commercial fruition, the more likely it is that they never will.

Realistically, the holders should should stick their QBT shares in the sock drawer and stop wasting time over endless speculation, and those on the sidelines should remain there until there is something concrete upon which to make a decision whether to buy or pass, and also stop wasting time and energy over pointless guesswork and speculation.

So yes, OSD is right: get out and enjoy the great outdoors, whether the temperature be 20 degrees or 6. Time is priceless. It is tge one commodity we can't replace, so it should not be wasted. Apathy in relation to QBT avoids waste of priceless time.

If the theory is sound and has been demonstrably sound for at least two years (as QBT has asserted) one would have expected either

(a) commercial roll out to have occurred by now if the product is 'oven ready' (as QBT has also asserted), or

(b) a partnership /JV deal to have been struck by now with a rig maker or a miner if more industry expertise and /or CAPEX is required to turn theory into practice and get it up and running on a rig maker's product or a miner's existing kit.

If you put aside QBT's predictions regarding commercial roll out (none of which have come to fruition) and look simply at known tangible progress, this still looks like early stage research which may or made not be the basis for a commercial application. That has been the position now for at leas two, arguably three, years. The pot of gold has receded as fast or faster than QBT has advanced toward it.

Two /three years ago it was credible that QBT did not want a partnership or JV (or indeed simply to sell out) because that would be to give away a large chunk of the profit of their work and expenditure just as the work was complete and all that remained was to watch the revenue and profit flow in.

It is very difficult to regard that as credible now.

It would be easy to conclude that QBT have reached the end f a cul de sac, and that there is no path forward to commercial application of the theory.

'Pucker'. Hmmm. Have I now been guilty of a spelling mistake myself?

Come on OSD, deny that you and I are the same poster. That is the post Micky is waiting for to prove that in fact we are. A pucker conspiracy theorist never believes anything until it is denied.

Micky, I am really miffed. Tag team? Coordinated posts? Not true at all. I was the ONLY poster OSD asked for help with his spelling and syntax 'challenges' and the ONLY one to respond with assistance. You are denying me the credit I deserve - a typical ramper's dirty trick !!!

Or should OSD have been named in your tag team as well? I dubbed him Noah, ad he responded with an 'Ark' sermon.I guess that shows about as clear a case of coordinated posting between us s anyone can imagine. Indeed, on the strength of evidence like that I am surprised that you have not concluded that we must be the same poster using two handles.

OSD, I see that you still find 'to' and 'too' a challenge. It seems too [note] early in the morning to [note] attribute the problem to drink. Back to skule?

Might I humbly suggest a notice at the gang plank: 'Take courage, Dutch courage, all who enter here'.

OSD Noah's QBT Ark, 'built of spreadsheets, whisky and blind optimism'.

Pretty much what one might expect, given that OSD tells us that he, his family and friends are all three sheets in the wind.

Many a true word spoken in jest.

Market response to QBT's latest RNS: the SP is down 5.5% this week.

You are a strange fellow OSD. You ask me for help with your grammar and spelling and then post abuse when I provide it. And what is the lengthy explanation of your boat bits sourcing methods all about? You asked for help obtaining an item, complained thatI had not responded, and I explained why I was unable to assist. Are you familiar with the expression 'too much information'?

I am sorry to hear about the fat fingers. The joints are probably becoming arthritic and the blood circulation deteriorating. Ailments to which the elderly are prone I am afraid, gramps.

OSD, since you invite me to continue to show an interest in your continuing challenges with spelling and syntax:-

1. 'too' 'to' (and 'two') all have different meanings. Your first sentence should read '..choose to'

2.In your second paragraph the grammar has gone awry in the passage. '.. as shown ... is beyond me'.

Unfortunately I can't provide any similar assistance to you in your quest for secondhand brass clip backs, though of course I follow your boatbuilding endeavours with a keen and kindly interest and would help you if I could. Sad to say, I have no knowledge at all of the boat jumble sale and maritime fittings reclamation markets of Greece.

A4P - always willing to provide guidance and assistance whenever he can.

OSD, are you one of the 'bashers', identifiable from their spelling and syntax?

Or is LP indeed more than one vessel? Is 'their ' name an example of your wit, or a mis-spelling? What are the 'trussells' they [or do you mean it /she?] is supported on?

I am not sure whether to congratulate you on anti-fouling your dinghy at a cost of only gloves and sudacreme. If you coated the boat with sudacreme, that will not be effective to prevent marine growth. If you used a regular anti-fouling coating without cost, I hope it was a genuine gift and not something you 'liberated' from its owner. Anything remotely effective costs £40 or more a litre over here, and is more expensive and less effective with every passing year as more of the effective active ingredients are banned. The good old days of TBT [tri-butyl tin] are gone for the leisure market, and my hoarded stock is long used up. Sudacreme will be no satisfactory substitute.