Member Info for Billfunk1

I think it's the exchanges offering 100x leverage that are the problem. They are controlling a huge amount of capital and are known to be market manipulators, apparently. That's the interesting thing about the Diginex reverse takeover of JFK and their "Tegridy Exchange", Equos. What's it worth being the first publicly listed, fully audited and regulated crypto exchange on the market?

Answers on a postcard.

What if the election result is disputed?

On this board my main interest is the stock market and to call an 11 year bull market a short term bubble is wide of the mark. Trump sets himself up as the defender of the stock market as highlighted in his White House briefing last night so it's likely he will do anything to keep it inflated which is all I care about on this particular board. The point stands that the risk of a market crash is apparent after the election whatever your politics are.

I'm looking for a staircase up 1k per month between now and year end based on the futures market call options pushing out. I would expect this to trade between 11k and 12k for another few weeks, then 12k and 13k etc.

https://www.deribit.com/main#/options?tab=BTC-28AUG20

These are just the foothills and I'm not anticipating any fireworks until next year.

The main risk is that the market dumps if the Americans elect Kamala Harris and bitcoin goes down with it. In this scenario 6.5k will be the top up level. Keep some powder dry just in case.

We have started moving up. Peter Wall's buy in was the bottom. There's a lesson in there for the BOD. Now we need to pay off the Z11s then in my opinion, and notwithstanding the availability of cheap second hand machines from newly bankrupt companies, we should hodl for a few months until we have 500 BTC and BTC-e (ZEC).

Then we have no debt, an efficient and diversified mining set-up and a Hodl pile. What more could the market ask for from a crypto miner?

Surfacetite_1m
@BitcoinMoonBoy only on London exchange. ARGO could go the OTC route like Nintendo,Samsung, or Airbus.

BigBrainMovez 25m
@BitcoinMoonBoy the float is important too. And Argo blockchain is not listed on Webull RH or Merril edge or TD or Think or Swim. So I can’t trade it so I’ll stick with MARA.

Surfacetite_19m
@BitcoinMoonBoy who cares about Argo. U can’t buy it, stop sharing this!

Interesting post, Arkonite.

I think American stocks always fall the first and fastest. The beauty is that they always recover the first and fastest too. If bitcoin does eventually decouple from SPY then they could be the perfect stocks for the depression as they will be among the few to make decent, reliable profits. Ultimately, quality will win this race and Argo currently lead in this respect though the longer we stay out of the US with such a depressed MCAP it will remain difficult to raise cash and scale up. Mr Tillman made this excellent point in his first post here.

Other markets: Nikkei - is it spunky or staid? Hang Seng - risk of China, Aussie - casinos all over the place, maybe they love to speculate? NIFTY - I have heard this is a bit gambly too.

But for me, NASDAQ is king. Riot and Mara are testament to that.

No I agree with you Poptimist. I don't mean to sound argumentative!

I am going to run the risk of sounding like a broken record here that has never stopped me gobsh.iting before so here goes:

This guy was in North America so he had never even heard of Argo. Even once I told him about Argo he had zero interest in them because they aren't listed in NA and are not on Robinhood. To him Argo could be the biggest and best miner ever but because it's located on Mars it's completely worthless. To 99% of NA private investors Argo may as well be on Mars.

I brought up the case for HUT8 merely to show how important hodling was to the overall investment case.

Not way beyond Poptimist, that's the point. With $28m of debt and 3000BTC they are currently covered and any gain in BTC is added to the value of the company. If BTC stayed at 10k until March next year they would need to liquidate their crypto. But if it keeps rising they will keep most above 10k. Their loan is at 9.5%.

I'm not suggesting for a moment it's a solid business. Far from it. I'm just hoping to show you guys how peeps in NA view risk and reward. The hodling is pivotal in their assessments. With 3000 semi-held BTC the market is willing to forgive many sins and value this turd at 200m CAD.

I had a not very pleasant convo with an arrogant trader who made money on HUT8. They actually hold 3000BTC of which 2800 are held as collateral to Genesis for debt of $28m. So this guy was not bothered in slightest at their derisory efficiency of 9PH/MW as he was effectively gambling on a quick appreciation of BTC. At 100k BTC HUT8s hodlings would be 300m so they could pay their creditors off and still hold $270m cash and that's with all their machines turned off for a year!

Just goes to show the weight the market puts on hodlings. For this reason I think it might be wise for the BOD to spend one or two months adding to the hodl pile after the Z11s have been paid off. This market should respond positively to this especially if we do move to NA. I would think the market approximates our 73 held BTC as "nothing". 500 held BTC would be "something".

Here's a good one:

"If it ain't on robinhood no-one cares"

Good valuation post, TyrionL.

Bitcoin's MCAP is about the same amount as Rishi Sunak has spunked on Covid. ie. not very much at all and gone in the blink of an eye. Bitcoin's MCAP will soon be measured in trillions. In a generation or two, quadrillions, perhaps.

Remember: No-one will ever buy anything off the internet when they can just go down the mall, no one will buy the incredibly expensive word processors known as PCs and no-one will ever use a Motor Vehicle when there are perfectly reliable horses available.

And bitcoin is a scam.

Splatted - you will be glad to hear my efforts on Stocko are really bearing fruit. Great excitement on my Blockchain and Cryptocurrency thread.

Only joking - it's like a f.ucking mortuary there.

One guy responded with a knowledgeable response stating that he was in Argo. Good man. Other than that fewer than 200 views since last night of which 10 were probably me! Considering that the Stocko Small Cap Report usually gets about 5,000 on the day of publication i'm guessing the readership is, perhaps, 2 or 3 thousand with each person looking on average twice a day.

I made sure that I bumped the thread for the best part of the day and there were a few replies which helped anyway. The thread was visible on the top of the page throughout much of the day without needing to scroll down. However, 200 views out of 2,000 regular readers is appalling. What that means is that 90% of investors in the UK completely ignore Blockchain. These aren't just random people I have accosted in the supermarket and ranted on about Bitcoin. These are self selected people with a stated interest in investing! And 90% won't even click on a thread on an investment website that says Blockchain.

It is even worse than this however. Having failed to get more than 1 good response from my Blockchain I went onto another chap's thread where he was offering charting advice for various companies. Please do ARB, I asked, and he did. He said it was fighting against overhead resistance and that he would be more bullsih at 11.25p. Fair enough I thought so i asked him his thoughts on Bitcoin.

He said he didn't know because he was ignorant of bitcoin and had no intention of doing any research on it. Fair play to him. There's no law that states thou shalt love the bitcoin. But this was on an investment website where he had had so much interest in the technical side of investing that he had taken it upon himself to start a thread and offer chart analysis. A more engaged investor you could not find. Yet he had absolutely zero interest in crypto. Zero.

If this chap has no interest in bitcoin then the UK is basically 99.999% a crypto free zone. It is completely pointless us being here and the sooner we escape this pervasive cultural indifference the better.

Verona_Hellas 1m
@BitcoinMoonBoy it's just so pityful that Argo is stuck over there. I thought London is a major financial exchange but it's demonstrating a very local and periféric market. To sell 200k shares i had to sell in like 10 smaller lots cuz there were no buyers..

Verona_Hellas 1m
@BitcoinMoonBoy it was me yes. Now it's rising like marathon and Riot but as I said it's better to avoid a stock with no liquidity

I remember this person from a week or so back! They came on here for a few days and moaned like hell about the price action before exiting. Yet more evidence of the need for a Nasdaq listing.

Verona_Hellas 1m

@BitcoinMoonBoy if u buy Argo on That ****ty LSE exchange, and Btc falls, u get stuck with price dropping and zero bid volume. I tried it its a very uncomfortable situation. Avoid Argo until its listed in UK

Thank Wicky. In terms of life expectancy it does depend on mining difficulty and the price of crypto. Currently we are profitable at $4k bitcoin. If the price drops below this we would have to turn our machines off. At the moment we have good margins. To the best of my knowledge the efficiency of the main listed miners is:

Argo - 21PH/MW
Riot - 28
Hive - 23 (equivalent I believe as they mainly mine Ether)
Bitfarms -14
Hut8 -9
Mara - 20+

So we are well placed. Our S17s should be good for at least a year or so, especially with bitcoin rising. I would also highlight here Peter Wall's astute and frugal purchasing policy. He appears to focus on the buying the most cost effective machines rather than the most efficient bleeding edge kit. His recent purchase of 750 Z11s was a masterstroke - cheap yet providing better margins than the best BTC machines. Smart.