Member Info for Billfunk1

https://www.forbes.com/sites/tatianakoffman/2020/07/21/eu-strikes-stimulus-deal/

So what we have is a worldwide depression starting in Q4 2020 and countries across the world engaged in competitive devaluation of their fiat currencies. There's no way Britain can deal with the massive unemployment coming when the furlough scheme tapers off in Q4 without devaluing the pound. The Euro must surely now break up or PIIGS must leave. Trump will continue to pump the US markets to (try to) maintain the bull.

Fiat is toast. Sterling is soggy toast. Long gold and crypto.

Triggerboy - I'm a Luddite aswell. I have a Trezor wallet which was around £50 quid. You can get the upgraded Trezor for £150 which will store a broader selection of cryptos or one of several other brands. It takes maybe 30 minutes to set up and purchasing is relatively easy through a credit or debit card or bank transfer (though your bank will probably put a security check if you try to pay with a debit card). At least then you will have some bitcoin held in cold storage off the internet. My plan is to hold these forever as a savings account.

Please don't go anywhere near coinbase. It is the equivalent of holding your gold in a vault, but not in Zurich or London, rather some dodgy country like China.

I also have a spread betting account at IG which again is easy to set up and has the advantage of being super liquid and tax free. This also allows me a bit of diversification to my bitcoin exposure. My plan here is to profit from this cycle and sell these positions between $100k and $288k.

Triggerboy - I would be amazed if he doesn't have significant crypto holdings. People who have been in this space for years don't want to sell their crypto for devaluing fiat. That goes for the Argo board too. Several of them have crypto holdings but they don't want to sell them to invest in what they believe is a proxy. I hope the new guy is different and he believes this is a multiplier worth spending crypto on. That's the only reason I'm in crypto stocks.

His previous job was General Counsel for Coinbase.

https://www.forbes.com/sites/coryjohnson/2020/06/11/trump-regulator-bitcoin-bull/

This couldn't be any clearer. The news flow is immense. We may only have a few months left to load up before this thing starts curling up. 2021 will be awesome.

Post cricket, bitty has decided to give us some entertainment. Another step in the staircase and she's just about sat on top of the upper boundary of the long term pennant. Key resistances now are 9788, 10002, 10383. Break these and we have a crack at February's 10507.

Thrilling stuff for those of us sad enough to find the 1 minute BTC chart entertaining.

That's great, you p.iss on America all you like. Very smart. But I would much rather invest in a country with that attitude than the British one. And I was under the impression that that's why we are all here, to make money?

Maybe it's just a forum to show each other how skeptical we can be whilst our stock languishes on a stocko momentum score of 1. How clever we all are!

It does show why we need to get out of London ASAP.

In America the biggest crime is being poor. If I made the same statement on an American board there would be fellow investors lining up behind me welcoming my ambition for the stock. But us Brits are different. For us the biggest crime is being wrong and looking stupid. So we p.iss on each other's chips, cover everything in so-called intelligent scepticism and bottle out after doubling up. Hence why our stock market is a mortuary.

I don't understand why bitcoin bears would invest in a bitcoin miner. Makes no sense to me.

How do you know that, splatted?

Yes, no reason why Argo cannot 100 bag from here. We currently have a PE of under 4 with BTC 9.5k. Broadly speaking BTC could get to $100k this cycle which would give us 10x. If we listed in the US this would help us expand that PE out to 20. That would be 50x.

Now, if the BOD outline a long term strategy to invest the precious bitty in blockchain technology, whilst maintaining the competitive edge of their mining operation then we could expect the PE to expand even further.

Then consider future halving cycles and 2030 predictions of $1m bitcoin and we could easily have 100x. If you don't believe any of that could happen then you are in the wrong stock, IMHO. It's all perfectly plausible. Is it certain to happen? No. But if they play it right and we get the 3rd (and 4th) bitcoin halving bulls then there's no reason why it shouldn't.

Strong Buy: BTC $100k Dec 2021, Argo 1.25 USD

Billfunk 26th June: I would prefer something like, "We are the world's most efficient publicly listed crypto miner with a long term vision to become ....... in crypto fintech by 2030". That's a growth thesis and in America that's worth a PE of 20 - 100.

Marco D'Attanasio 21st July 2020 "I am delighted to be joining the board of Argo which has positioned itself as one of most efficient publicly-listed cryptominers in the world. I look forward to working with the board and the executive team to build on the company's strong foundations."

Absolutely Ajbennett. Hence why the calls for fiat dividends are so self-defeating. Argo is not a share for the London rentier crowd! If I wanted a rentier income I would become a scumlord or buy BAT shares.

Really? You think average Americans look at the LSE leader board for UK investments? My guess is that US PIs don't bother with the UK at all. I doubt most of them even know about the existence of the LSE boards. It's not like they are short of great growth-momentum stocks over there is it? They will all be trawling through Seeking Alpha, Stocktwits and IBD to bother with LSE.

Almost exactly the words I used a few weeks back to replace his "good proxy for bitcoin" nonsense. Though I doubt that those words alone are responsible for today's rise. It's got to be something about the new appointee, surely?

1. Dr. Marco D'Attanasio has been appointed to the board. Apparently with a wealth of experience in international capital markets, fund management and tech entrepeneurship.
2. Argo price up almost 20% intra-day.

Co-incidence?

TomBillion - Said tongue-in-cheek I'm sure. I would very much like to hear Fidelity's logic as to why they chose HUT8 over all the other publicly listed miners. I'm guessing it's because of their digital hodlings because their mining set up is very inefficient. Still strikes me as odd because unless there is a quick turnaround their cash burn will eat through their digital assets by the end of the year.

But why HUT8? They have $28m in cash and digital assets and have burnt through about half that every quarter for the last two years. Even with the new machines their efficiency is barely breakeven. The market doesn't like them either and nor should it. What are Fidelity doing investing in HUT8 specifically?

Why HUT8 though? What have I missed?

S2F $288k. Yeah that would pretty much see me made for life. Have a good one.

Yes he comes across as a very decent chap. Let him know that I would totally forgive him if he turned into Max Kaiser Mark II and was wrong. I would much rather that than this. And he might not even be wrong. The bull case might actually be right!

I just wish he would give this impression to the market. The last few times I have seen him on Proactive investors he got some basic halving stats wrong (he stumbled over 12.5 and 6.25 IIRC) and then sold the company as a good proxy. If he is several steps ahead of us he should be more bullish when communicating with the market. I understand he may want to undersell and overdeliver but the market is currently interpreting this as weakness and it could be directly contributing to underdelivery. Sell it hard and make it deliver.