Member Info for Billfunk1

Fingers crossed for a double bottom on 13000.

Set the levels on your Delorean to 13853 for June 2019, 17213 for Jan 2018 and 19764 if you want to go back to Dec 2017.

Good point, Mathsman. This is an easy hold until at least this time next year.

For those of you who enjoy watching charts like I do we need to hold 13000 to avoid a bearish daily engulfing candle. If it holds then the current run is still on. If not then a test of 12 is on the cards. Above 13850 and there's no overhead resistance until Winter 2017/18 and the ATHs. No wonder the Chinese bounced it hard off 13850!

Sell your SIPP and buy a physical crypto wallet instead.

They are going to rape all your Fiat in the end.

Sell your SIPP and buy yourself a physical crypto wallet instead.

If anyone wanted to take this over I would have though they would already have done so given the MCAP is only £20m.

The Americans only want bleeding edge kit and most of the Canadians have no cash. Why bother with a takeover when you can buy 2nd gen kit from bankrupt miners at firesale prices just as Peter did with the ZEC miners? Maybe the data centres are worth buying? Maybe there's plenty of capacity. I don't know.

Exactly. And London doesn't like it either way and will also hinder us leveraging more aggressively to boot. Lose, lose, lose.

Damned if we buy new machines.
Damned if we hoard bitcoin
Damned if we leverage

It's (almost) a no win situation in London.

I think people are terrified of the depreciation and without deeper analysis most investors take a quick look at Argo and surmise that they are not making profits because they are caught in a kind of Malthusian trap where they are constantly mining and spending all their profit on new machines ad infinitum.

Argo do have their holding strategy to counteract this - 126 held BTC - but to date this has not swayed the market. A few months ago I suggested that 400-500 BTC would be enough to convince the market that Argo has escaped the crypto-miner's trap but who really knows? 126 smells of desperation to me. It's the kind of level that a troubled miner would hold to convince the market they weren't going bust. But what happens when you need to buy new machines, the market asks? Those 126 BTC will be gone overnight.

However you look at it the problem it can only be solved in one of two ways, BTC rising significantly or a dual listing in the US. That's my opinion but I would be interested if anyone here could illuminate me as to how Argo goes about it any differently? For my money it could take years to reassure London.

Of course if BTC rises then Argo will go up in step but what the SP really needs is some nice Fiat profits declared officially HY/FY to convince the technophobes in London that there is money to be made here. With the current strategy of using revenues to scale up the operation, London will be waiting a while for their booked profit. Meanwhile, in America, Robinhood investors are speculating on what Riot and Mara etc could be and sending their MCAPs sky high. This is a problem with the London market and not Argo's zero profit scaling up strategy. Indeed, in a less risk averse market Argo would be free to leverage much more aggressively than they currently do.

Looking at the stocko page Argo looks like a non entity with red all over the place, no analyst coverage and qualifying for no screens. Most investors would not touch this with a bargepole. Furthermore, they wouldn't even bother to research Argo further. A small positive today is the aggregate stocko score has risen to its highest ever - 27 (out of 100). So it's going in the right direction.

We talk about re-rates here and Argo needs one of three things to make this happen:
1. BTC rocketing towards $100k
2. Wait a few years to book a profit for the London dinosaurs
3. Dual listing in the US

In time I hope we will see all three but any one of these would be enough to send this to £1

Not to mention the fact that our low valuation makes it harder to get leverage for extra machines. Riot already have plans for 2.3TH capacity. They can attempt to do that because the US market is less risk averse with regards to debt and their enhanced MCAP makes potential raises more effective. Early 2020 Argo were head and shoulders above Riot. By next year Riot will have overtaken us. The low London PE will have become self fulfilling and vice versa for Riot in the US.

It is not just whimsy why people like myself want a US listing. Every month in London we lose more potential capital growth.

Just think if we get a dual listing in America that PE will also expand.

$200m x PE of 30 equals $6bn. PE 50 = $10bn. Etc up to potentially 100 (unlikely though)

That's the main reason I want a US listing. I don't think London will be able to provide that kind of PE expansion. What is Argo on at the moment? Barely 4 PE? There's so much room for growth here.

https://www.lookintobitcoin.com/charts/1-year-hodl-wave/

It's a four year cycle and we are entering summer. Absolutely crazy to sell until at least November 2021. Very easy to hold this for another year given likely newsflow and when governments across the world are printing Fiat like its 1920. Weimar anyone?

HODL BTC for $100k minimum this cycle
HODL Argo for £1 minimum this cycle
HODL Riot for $100 minimum this cycle

HODL HODL HODL for the win.

There, I said it. Now it either crashes or ... goes parabolic.

With Sterling, 75% of new money is created through mortgages secured on the UKs housing stock. I am sat here wondering how much more money UK Gov will throw at the housing market to keep it afloat. Surely a devaluation is on the cards with debt-to-GDP above 100% and rising fast? Last week I heard they were mulling over negative interest rates on savings accounts. Not sure any of this is bullish for Sterling. No wonder Bailey is bulls.ihting on Bitcoin. I sincerely hope these rentier scum get their comeuppance before they suffocate the whole country.

We recently increased the number of ZEC miners so our BTC-e should increase at least for the next few months. Actual BTC may decrease owing to difficulty increases but combined BTC and ZEC should be up.

Max pain for tomorrow is 11000-11250 so that's all this is about. Next month will be 12-13k. Still strong and stable.

1k a month each month between now and Christmas. Nice and steady staircase with the futures as a precursor.

There are hundreds of coins to be mined. Only a few are worth hodling, but there are plenty of options for monthly revenue.

22:56 - that candle right there is the exchange going stop hunting against its own leveraged clients.

From talking to traders on stocktwits many of the exchanges' tactics would be illegal on the regular market. So it may well be regulation that causes their reform or downfall.