Member Info for bigbadbob79

Yes. I spoke to iweb yesterday, they said it might take a couple of working days for shares to appear in trading account...

Yep, £1.6m. Not all for bitcoin mining equipment. But even if it all went into bitcoin mining it would still be a puny operation. The whales are adding multiples of that capacity. If you mine gold, other people adding capacity doesn't make your mine harder to work. With BTC, other people adding capacity makes your mine harder to work. It's a never ending arms race and CLP isn't even at the starting blocks yet.
BTC mining is hard to scale, all of the miners are massively overvalued at the moment which is why I'm extremely bearish on the sector and moreso with alleged miners who don't even have a mine.

I'm with iweb who I believe are a rebadged Halifax. They told me yesterday it might take a couple of working days.

The portacabin in Serbia isn't even a minor crypto operation. It was switched off in early 2019, and the company's own RNS release in September 2018 revealed it had mined a grand total of 0.2 bitcoins since commissioning. It was a Tomy "My first bitcoin mine" 4 years ago and is even more laughably puny now.

Enoyou55 - I always listen to a range of views when weighing up a potential investment. No point living in an echo chamber, but if that's hoe you'd rather live feel free to simply not read views that dissent from your own. It's your money at stake and no skin off my nose.
Weathergeek, by the time CLP get any mining operation up and running (if indeed they do), 500 petahash will be insufficient to achieve 60BTC per month. All of the big miners are adding more capacity all of the time - ARB essentially doubling capacity for example. That will cause the block difficulty to increase and reduce returns per petahash installed capacity.
This is one of the fundamental issues with the BTC mining industry. If you have a gold mine, someone else opening a gold mine somewhere else, or expanding their mining capacity doesn't make your gold mine more difficult to work. With BTC, someone adding capacity to their mine results in your mine becoming more difficult to work. So you add capacity, which makes your competitors mines more difficult to work, so they add capacity, which... and on and on in a never ending arms race that nobody can win - certainly not a badly run company that's done nothing but fund the boards lifestyles for the past few years.

Absolutely agree Pictland. You'll get a load of abuse from the rampers like I did the other day. Amazing that people will chase a rise in a no-hoper rubbish company like this, and justify it to themselves by comparing it with a well-run business that is actually operating in the sector and is itself ridiculously overvalued by the market

Personally I think the helium could be very significant. There is a global shortage of helium and it's essential for things like MRI scanners.

6% down across my portfolio today, and it wasn't much better yesterday. Brutal times at the moment, hopefully things pick up for the rest of the week.

Given it has no intrinsic value, and is worth only what people are willing to pay for some relatively illiquid digital tokens, the price floor is zero. If people lose confidence they won't keep paying into the ponzi scheme.

Hahahahahaha!
The only position I have with IG is a long on BMN. I don't think you can even short CLP on IG (I wouldn't anyway with all the rainbow chasers piling in).

I seem to have rather more knowledge than people flinging cheap insults and telling me to sod off!
I'll check back in a few months, see how many bitcoin CLP has mined...

I've already said I do not have a position in CLP, and nor do I intend to take one.
It may well reach 5p on hot air in the current market, but people need to be aware that conversation topics like "10-20 Bitcoins per month!" are highly, highly misleading. You need about 120 petahash capacity at present to generate that kind of mining return. That's going to cost you something like £6m for the mining hardware (at list price, and companies pay way over list price for faster delivery). That's before you install it somewhere, get it set up, pay people to run it etc etc.
By the time CLP does all this (even if they had the cash), difficulty will have increased because more capacity is being added all the time. The whole industry is in an arms race and CLP cannot possibly compete.
People investing now to make a fast buck, congrats. People investing now intending to hold long, think very very carefully. Someone is going to be left holding the baby.

£3.7m isn't even enough to buy 1,000 mining machines at list price. And most miners are paying way above list price to secure machines ahead of others.
Then you've got to install them in a datacentre. A proper one, not a portacabin in the middle of some Slovakian field
£3.7m is absolute peanuts in the scheme of BTC mining. And it won't be £3.7m because the company is spending money on other projects, litigation etc as per RNS. It's going to take many months to get up and running by which time whatever capacity they manage to put together will be even more puny in the face of the established players.

If you're happy investing at a MCap of £20m in a company with total assets of a fraction of that and a pretty uninspiring track record, best of luck.

Alans55 not sure who you are talking to here. I am in Eve but I don't think I made any price predictions on the Eve board (in fact I never make public predictions beyond "higher" or "lower".
There's some absolutely absurd ramping on this board. I would have invested a little for the prospect of a positive outcome to the various litigations, but I'm not investing off the back of a rainbow chasing multibag due to the merest mention of a phantom cryptocurrency mine. 10-20 bitcoins per month, would require about 40% of the installed computing power of ARB. At present CLP has zero. £1m isn't anywhere near enough to get it off the ground. IF the legal cases resolve with payments that is going to be a very long way down the line, then there's the lead time for equipment and everyone else is adding more capacity too, so the mining difficulty goes up, which means less return on any investment.

A portion of £1m is nowhee near enough to get into BTC mining.

iceman, check the company's own RNS from September 2018. That tells you exactly what he capability of the "datacentre" is.

10-20BTC per month? Really? How is the company going to do that? Their current mining rig manage 0.2BTC TOTAL before being switched off. And that was years ago when difficulty was a lot lower and block reward double what it is now.

I haven't got a position, have no intention of taking a position. I'd suggest it's the rampers who people need to be wary of...

You're right. What probably matters more is that even 3 years ago when mining was far easier and the block reward double what it is now, that set-up managed to mine less than 0.2 BTC (total) according to the company.
Seriously, all these folk "investing" today based on nothing but FOMO....

Doubling the output eh? Go back and read the old RNSs. How many bitcoin did the mining centre mine? by 20th September 2018 (shortly before it was "mothballed"), it had mined in total......
...drumroll....
....less than 0.2 bitcoin!!

Doubling the capacity is going to make no meaningful difference at all - since then the reward has halved and the mining difficulty increased exponentially. All the equipment is on months lead times.
Absolute joke people are chasing the Bitcoin rainbow in the this stick. Mind you if ARB can get to £1.1bn market cap on about £20m revenues, then I guess it's possible this could get to £100m on zero revenue. It's no less ridiculous.
My view is the placing investor is here for the possible court settlements, or will flip the shares to PI's investing on hype.