Member Info for bigbadbob79

I'm starting to hate IG in any case. I had to argue with them last time I wanted to withdraw funds, they wanted proof of me having paid the initial funds into my spread bet account, which I couldn't do as the bank account was long since closed. I had to get pretty shirty with them and they eventually said that "by exception" they would pay me.
I've got a £50/pt long on BMN which I opened last week and is doing quite nicely, so I'm going to be mighty annoyed if they close the position on Friday. Disgusted they haven't told us officially about these changes,

Back to BMN, nice to see the SP heading back towards where it belongs.

It's Nick Lee's name that puts me off. When has he actually created value for pleb shareholders like us?

Combination of FOMO to the CBD launch laid on top of a growing realisation the share is ridiculously undervalued in any case.

Can sell for 9.1p at the moment (I didn't). Next leg up coming?

Is Mode undervalued or are other stocks in the market segment overvalued? Discuss.
Big corps buying BTC as a store of value doesn't really help Mode, IMV. Actually makes it an even less attractive alternative to fiat for the average Joe.
If Mode does well, it'll be as a payment app for on line purchases - scanning a QD code with my phone to make a payment is easier than typing in card details, 2 factor authentication text codes etc. But Paypal does something similar, and is there a compelling reason to stop using Paypal and use Mode instead?

I downloaded the app. I was going to put my BTC into a Jar, till I read the T&C's. Basically in return for 5% interest Mode can do what they want with my BTC - sell them, loan them, stuff them up their jumper. Don't even commit to hold collateral. No. Thank. You.
Mode is not a miner nor significant holder of BTC. It won't really profit from BTC price volatility. Mode is setting itself up as a decentralised finance app and payment processor. That's fine and perfectly valid, but it's not really a BTC play, IMV.

ARB is ridiculously overvalued, £15-£20m turnover and a market cap approaching £1bn.

BTC will not supplant fiat for everyday use, maybe as a store of value. BTC is too slow and too expensive to use for everyday payments, there are much better cryptos for that.

Yep, that and the speeding ticket RNS on ARB. OBC has also fallen back.
ARB then put out something on their Twitter, words the effect of "Oh we didn't want to put that out but broker/regulator made us, look BTC is $50k now". Rampy.
Whole sector at the moment is being driven by nothing other than rainbow chasing and FOMO.

If you read the RNS, it doesn't actually say they have bought any BTC at all, merely allocated up to 10% of reserves to it. I don't think anyone outside the company knows.

I dipped my toe in. Presentation is a bit lacking, but Peter Wall is a NED, so that and it being a cannabinoid play should generate a bit of hype. If it does a KNB I'll sell on day 1.
Disappointed with the price action here today, but it'll come good soon enough.

I haven't posted any questions.

I haven't "deramped all day". I've made 2 or 3 posts.
It's an open forum, so if you don't want to read my thoughts, don't read them.

I haven't "deramped all day" I've made like 2 or 3 postings!
The guy asked a question, I've added my thoughts as have some others. It's an open forum, ig you don't want to read my musings, don't read them.

I did some fag packet calcs, and if they double capacity (which they are on course to in H1, and BTC stays at $45k, they should make about $100m revenue per annum. Say $70m gross profit, so about $65m gross profit.
BUT. Mining gets harder all the time, so less coins will be mined as time goes on. And look at the size of the investment that is having to be made. Net profit is going to be much lower.
I think this is around fair value at the moment. Obviously well done to everyone who has made a lot money here. It may go much higher still on hype, but I think it's starting to get detached from reality, and that means it's not particularly attractive to me.
It's basically an arms race with other miners. And BTC price will fall again at some point.
I don't like the Texas deal, the company BUYING Bitcoin is weird too. Too many things I don't like the look of.
But that's just my view.

Sort of fair enough to say they're investing spare fiat cash in Bitcoin. But they only make fiat by selling Bitcoin that they have mined. If they were so bullish on Bitcoin value they wouldn't have sold them in the first place.
Glencore don't buy iron ore and then just leave it in a heap somewhere either, do they?

From the January update, the company says it has PURCHASED 100-odd Bitcoin.
Why? It seems very odd, you don't see gold miners buying gold!

The value of fiat currency is derived form the fact that they are the only currency by which governments will accept payment of taxes.
Bitcoin is essentially useless - transaction times and fees are both much too high for it to supplant fiat in emergent economies as is frequently suggested (though other more practical and cheaper cryptos might). That don't mean it doesn't have value, but it definitely isn't going to be the foundation of the world economy.

Been pumped all over Twitter all weekend.

shareguru the trading data doesn't support your theory.
AS for someone else posting that perhaps the incoherent company communications are coded messages... Lol. Just lol.

It's just a pump and dump.

197,000te of gold have been mined. 7 billion ounces.

I think you can safely say that's what happens when a few shares get bought in an illiquid small cap. I hope you manage to get off the spike without losing too much.
shareguru. Your hunch based upon what? it's an illiquid stock, barely £150k of trades today. Nobody is anywhere near building a 3% stake. And who would want to, with the mumbo jumbo presentations from the company?