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..... boy these shares are cheap ...... *
*well cheap compared to where they were, however, cheap does not always equal value! Value is when you buy something 'cheap' in an upward trend, so you get value
BTW, were still in a downward trend!
9% down pre open
Yes, some of the other miners have insane bonus schemes, such as Mara, but that doesnt make it right and investors should challenge such behaviour - can you really see PW jumping ship to another miner, no me neither.
Ohhh at 8p a share I will also buy, at that point the risk and reward will be worth it (but at that point gosh other miners and KR1 will probably also be cheap)
But 100% if that 10% resolution gets through and all the directors remain, there is zero incentive for PW to get a independent chair, as they 'believe' in him and, since Sarah Gow basically worships the ground PW walks on, then it is helpful (to PW) to have her chairing the remuneration committee
I foresee Nov 2022 a 5% raise while PW is given 5p options which expire in 2025
Ohhhh wait, 75 point increase, but inflation still at 10%, so my mtge now going up but the price of my Freddo not going down!
What you mean my mtge is now worthless
Seriously the price of fuel not coming down too
But I am not getting a pay rise, please dont repo my house at this exact moment, I am in the middle of buying some bitcoin!
How will the Share Price be impacted if PW gets all of his request's:
* a nice share scheme for him to get his hands on cheap shares
* an ability for him (and the board of directors) to dilute up to 10% without further shareholder position
* all of the directors remain in post
* no resolution to the interim chair position
The final point is key, since it will allow him to keep Sarah Gow as chair of the remuneration committee..... not a bad place for PW, if he can do a 10% dilution without shareholder permission and since she is far from impartial when it comes to PW
So what you reckon, another -10% or a positive response?
Also, Bitcoin has never been tested during:
* a recession
* periods of high inflation
* increasing interest rates
* geo political conflicts
* when people literally have no spare cash
LA - Who exactly is AIG
Someone who has been round quite a while and someone who bought in the 30's previously - when it was on an upward trend though
But also some who sat back on Argo last Autumn and started to become bearish, highlighting the many flaws and that actually many, myself included, had actually been duped by PW - but still willing to sit on sidelines, wait for an appropriate risk/reward reentry, as I understand the company, but at same time trying to warn noobs on the true risk/reward
I also recall getting quite a bit of flack when I pointed out the huge governance issues at argo 12 months ago, when PW hand chose SG as a director, despite not demonstrating significant crypto experience (other than getting Argo cheap back then) and being far from an independent board member noting prior communications and pumping the share price on telegram
It was clear that PW was feathering his own nest egg, which many others realised, hence the share reward scheme being rejected out of hand - but here we are again
AB - Think you should stay away from it given what you've said about it
The issue what perma bulls have is that the comments I have put are actually very hard to dispute and have been there since 1.20 to 1.50
The risk/reward will come for new investors and wouldnt want to see new entrants lose out of what will potentially be a great entry point later this yr
all about risk and reward and with at least another 50% drop due the risk is to high, risk/reward is better place in low teens
leverage against BTC, which people seem to have forgotten, a leverage is a leverage on the upside as well as the downside
and also, there is the hope, with enough investor influence the governance issue will get sorted so some real scrutiny can be placed on the mgt team - then there is a good UK base of investors who 'may' come back, if PW hasnt diluted them to submission by then
AB - "Aig, sounds like a terrible share in your eyes, a sane person might ask why are you so interested in it?"
Punt at IPO price or below, been quite open about that past few weeks/months, predictions not been far off also
AB - "Aig, sounds like a terrible share in your eyes, a sane person might ask why are you so interested in it?"
Punt at
Every one saying Bitcoin been in a capitulation sell off, where in fact the decline has actually been very slow and steady, a grind, like ARB
The capitulation has yet to happen and it will come, it will come once the market realises that the FED are indeed HAWKISH and if BoE do a 50point rise that could also trigger it too, as BoE were the early runner but more cautious with their increases, 50points would indicate they mean business
* directors moving to a paid package rather than one based on shares, raising question on value of shares moving forward
* RNS talks about share incentive scheme, where, like last year, PW is looking to feather own nest (this is despite it being rejected out of hand last year)
* a market which is on a downward trend trajectory (NASDAQ, S&P, FTSE)
* fundamental asset (Bitcoin) which is on a downward trend trajectory
* market which is considerably bearish (due to high levels of inflation and rate rises, which I don't believe a fully priced in yet)
* oil prices going to $200 - put fuel in car or pay for increasing value of good, or buy ARB shares?
* has clear admin issues (constant updates that need to be corrected)
* a board of directors who are two soft on PW, i.e, Sarah Gow being had chosen by PW, conveniently place on remuneration committee, this is despite her clearly not being independent - previously very active on telegram group, pumping prices, naming her boat argo and declaring admiration for PW at the time
* questionable financial performance issues (having to power down because a fundamental ingredient to operations has gone up due to heat - electric)
* terrible mining figures
* teething issues of new building, which still need to be proven
* appearing to have tied all cash & cash equivalents together, with a considerable amount of those equivalents committed to debt, so having no certainty as to the actual cash position of the company during a bearish market, where BTC mined is below expectations
* questions on scope of ability to raise capital/financing
* lack of trust in doing a raise, in 2021 investor presentation also stated "no 'intention' to do a market capital raise via issue of new shares"
* limited institutional interest, reliant on retail investment, which itself has limited liquidity (reducing number of argonaughts)
* working with influencers who are recognised pump and dumpers (questionable PR decisions)
* lack of transparency in terms of Argo Labs, how much was lost due to LUNA - yep made some on staking, but to make it on staking need to have had it locked for a period of time (Luna went down in a day!)
* Chair and CEO same person, questionable governance (THIS IS KEY TO ME)
* a COO & CFO who release market sensitive info when drunk (PW not dismissing them)
* reliance on Perry, who seems to have a lot more good will than even PW
* a terrible TA, which is clearly in a downward trend
* lack of transparency
Might get a hooker for free, but dont tell the wife how you got your STI, she will have the rest of your money
@GravyTrain
The whole user case of BTC is that it is an open ledger
So if you are saying the wallets are hidden, you have literally just FUDed what you are trying to PUMP
In any case what you have said is totally wrong, either misleading at worse or no clue at best, if the later I recommend you stop investing in BTC associated items
HarChris - agree, but their timescales are considerably more than retail - Q1/Q2 2023 IMO
AB - Good Question
Current UK Govt - nothing
A more progressive Govt - Something
However, would that something be sufficient to immediatly attract 'joe public' to invest in a highly volatile crypto market, after all the recent FUD - it would need some serious stimmy to do so as most people would probably be looking to go out and buy some new trainers for their kids or have a holiday
Issue with people investing, is those who are have spare cash, money to lose, the group who didnt have already left - there is no exit liquidity currently
IMO yes, and lower, it will test IPO price and probably lower - purely from a TA basis
From a fundemental basis ask yourself this:
1) are you skint, from gas and electric?
* no - you are lucky
* yes
2) If yes, with your limited food and clothes money are you going to go out and buy a highly volatile asset?
* yes - I like a punt
* no - me and the kids am hungry
3) if no, do you think other people will buy a highly volatile asset who are in same position as you
* yes - because only I am sane
* no - because they are skint
4) if No, do you think 'new' retail investors will come along and pump Bitcoin or Argo, not crypto degen's, btc maxi, or those who shout out DCA each day?
* yes - because they are nuts
* no - because people literally have no spare cash and if they were going to invest, the chances are they will look at the TA of Argo and think WTF! I am going to buy BP, since that is going to go up!
FUNDEMENTALS = people dont have spare cash to pump that BTC price to $60k currently!