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Please, please please, please get to 10p a share
If that happened I would go ALL IN..... no doubt about that
But, I think you may see sub 20p, but perhaps not as low as 10p...... but PLEASE DO
@chaebol
You would only stop in such circumstances for the following reasons:
- trying to get favour to get in on the deals
- the infrastructure is that **** that they need to, despite no incentive to do so, so what a great decision to be based there
- PW is trying to gain popularity and good PR, unsure if really beneficial, unless needs local governor suppor
- There are issues with machine roll out and/or operations and using this reason as an excuse, while fix the real issue for down time
HarChris - 15% Rise
Would need to go bk to shareholders to do this
10% though, yes....... just imagine all of those saying, yes but its also allows 10% share buy back - what with, they have no cash
Fancy approving this PW request during the last AGM
Personally, if I was ARB I would just do it, get it done with, move on, there is more risk than reward at moment in terms of BTC SP, so if need cash before January do it now
HUT held back on the 'smart' growth towards end of last year, while other miners (i.e. Argo) were buying up machines left right and centre at significant premiums HUT did hold back and did impact their SP trajactory (it was seriously pumping)
But that has left them now in quite a strong position, with good solid balance sheets
Also look at their linkedin page, they are literally trolling the Texas miners, "A thunderstorm wont stop us"
Despite all of this, Argo Shareholders still happily authorised the share scheme for PW despite it being rejected last year (when the SP was much stronger) - no wonder PW and other Directors bought some more shares.
HUT it is then isnt it..... solid balance sheet and still HODL
Slash staffing costs, having a laugh are you not?
The shareholders have just approved:
- improved bonus scheme for the CEO
- improved bonus scheme for other staff
- all staff having access to potential shares, which PW can dilute if so required with out further reference to shareholders (upto 10%)
- Directors receiving a salary instead of share options
None of these are steps which shouts out "we will cut staffing costs", more like we will line our own pockets regardless.
If people truely believe in Bitcoin & the smart growth approach, then I really cannot understand why dont pivot more to HUT than ARGO
Argo is a good leverage against potential huge growth, however, it is unclear still how they will fund that realised growth, since debt is high & HODL BTC is low, meaning growth needs to be via capital raise
Where as HUT, who I myself moaned at when hit ATH they just needed to push a little more, did the right thing by waiting to see how BTC panned out before going all in on the growth, whilst hedging bets through HODL, resulting in one of the strongest balance sheets of all miners
So if Argo can realise that growth, then great, if not I think they will be burdened by the debt. Their main competition is also Riot as I see, most comparable, who are more favourably seen by the market and are actually now more transparant.
In terms of transparency, agree, Argo have gone backwards, their strategy is now all secrecy, etc - perhaps PW was warned about his wink wink smile smile before dumping shares
Agree, all of the miners are in the ......... I wouldnt be buying any currently TBH
Just wait until end of Q3 / Q4, see where the market is..... and who is still around or in strongest position
And yes all of them will end up diluting at some point, how do you cover costs if have nothing to sell?!
ARB IMO have some issues around the debt which not being so transparent about...... most transparent miner weren't they, well they were until someone made a few million buy dumping shares a few weeks before a raise
Despite this, still worth a punt for next bull run..... if there is one!
HUT have an exceptionally strong b/s in comparision to most and were more prudent on growth - to point stunted sp increase
However, that approach should pay dividends now and one I will be looking at when it trades $0.80.... unfortunately HL doesn't allow a trigger buy order for that point since is oversea's
A "CEO's" job is to influence
Saylor is on CNBC, very active on Twitter, on various other news channels, interacts with other influential accounts, comments, on them, etc
That is an influencer - and it works as people literally took out debt to buy BTC and her significantly 'influenced' the miners to hodl, not do what miners should do, sell the items they mine
Best thing, its not even his money, it is MSTR
I bet you he has personally been buying and selling all the various dips / tops himself
Agree, he is responsible for alot of people losing cash IMO, as well as a few 'respected' influencers - fancy listening to a 19 year to tell you what to buy tho
So BTC is cheap, yet there is more buying and selling pressure of ALTS
BTW the real dump has not yet happened
If the directors had confidence in ARB share price then why have they changed their package from receiving shares to receiving a salary? (rather than a combo)? ---- is it £75k or $75k for nodding and smiling at PW?
That breakeven cost was the variable breakeven cost
If he is going to use the 'what if scenerio', then it is reasonable to as "what is the true break even cost now", not just the variable, but the fixed o/hds - that will be considerably more and would not be surprised operating at a loss currently
As well as the Galaxy loan seemed to avoid the Pluto questions, I mean it was only a few million raised by diluting existing shareholders - so what were/are the benefits, seemed like none, else why Argo Labs
Then in terms of Argo Labs, no denying was impacted by Luna dump and what is the expected rate of return..... dont mean to be funy but a good trader wouldnt be employed!
AGM Q&A
Unsure why PW was dodging some quite fundamental questions for investors, debt!
Galaxy loan repayment details is clearly one of two issues: 1) there is concern about how it is going to be met or 2) they have had to sell the recently bought BTC at a considerable loss to meet their liabilities
Either way it will negatively impact share price
It is telling that this bad news has been held back until after EGM voting was completed, where you would have had opportunity to hold the management and directors to account
BTW, expect to be diluted at any time soon - 10%*
*"but he said there are no plans to dilute" ----- he said exactly the same things just over 12 months ago during investor presentations !
I have always talked about follow the trend
Be interesting to see whether BTC can flip the current resistance as support
Wont necessarily catch the bottom, but if does so then that will be good buying opportunity for next leg up
However, if acts as resistance will bounce back to $17k'ish, so retest ARB 28p-30p support
BTC is never boring
How about:
Consumer confidence low
Consumer savings in the gutter
Consumer credit exploding
High Inflation
Oil and Gas prices causing havoc
Food prices unbearable
Fed raising rates fast
Fed starting QT
Growth slowing drastically
Supply chain constraints
Negative real wage growth
The drop in crypto currencies is because people have no money
And when people have no money VC/instituitions/whales are aware there is no exit liquidity for them
That is why crypto is down - simple as that
Once inflation goes down, then salaries catch up (18 to 24 months), interest rates stabilise and QT is finalised, those crypto coins may pump
Is there a 1 on that fear rating, will wait for that
@donotpanic "All those arguing here... Are you ALL invested? it is going to move up..."
Once it has gone down, for all those saying BTC has hit its low, look at the lines, look at the TA and, more importantly, look at the MACRO environment
News Today:
* General Strikes
* Homes to become as unaffordable as they were 3 decades ago
* 11% inflation
* interest rate rises
* China buying up all the gas/oil
* China dumping US Dollar Debt (look at what Russia did pre-Ukraine)
Then, let me know you are confident that everyone will be jumping in to buy the magic internet money
It will go up, but must go down 1st