Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
“We are working with and talking to miners”
“we are testing method A&B on new miners “
Well folks this company certainly divides opinions but all should become clear pretty shortly, mining rigs are monitored 24/7 for performance, they can be under or overclocked depending on external factors such as network hash , electricity demand or temperature but rig’s performance information is always clearly available. To me it wasn’t 100% clear if they were using an existing miners rigs or QBT’s own but to a certain extent that’s irrelevant,
I’d have thought that FG could give accurate results for both methods A&B in around 1-2months .In fairness I know when a couple of North American miner’s started using Intel’s chips there were teething problems which were solved after around a fortnight so the first months results disappointed but from that point on the Intel chips have proven the most efficient currently available.
It would seem from what FG said methods A&B aren’t the only products QBT are developing but I do think the results from live testing will go a long way to proving the bull or bear case .
For any one intending to attend this years AGM I suggest you contact Jeff @ SP Angel asap in order to find out the admission rules , he’s a good chap and normally very accommodating with information he has at hand - I would guess it will be the same as previous years - share certificate although far more likely in this day and age a note if confirmation from the broker you use to hold shares , you’ll also require proof of ID ( passport/ drivers license) and quite possibly proof of current residency. As a shareholder you have the right to attend the AGM but without the above documentation the company have the right to refuse you entry.
I always find small company AGMs very informative often it’s not what’s said directly it’s more the body language from the board when answering questions that gives a better picture of the state of play . Don’t forget as a shareholder you are fully entitled to ask questions to the board ( once again Jeff will guide you as to whether or not you need to submit questions prior to the actual meeting) . I suggest you do a little research and ask a question that will give clues as to where the company actually currently are . Clearly the board are bound by Aim rules on what they can and can’t say but you can often pick up a few hints or suggestions while they remain within the guidelines.
The genius of Peter Wall ( now I’m sure that is controversial to many ) let me expand.
Argo was a tiny crypto miner when Wall took over , what he did was actually totally transform the way junior companies interact with the market and its shareholders thus creating a huge buzz around the company at exactly the right time .
The thing that all companies that multi multi bag have in common is they are in the hot sector with few listed companies involved in that sector at that particular time .back in 2019/20 there were very few ways to play bitcoin /crypto in the uk other than holding coins on exchanges or buying on an exchange and transferring to self custody ( a daunting task for many ) .
What Wall did was use his media background to full effect , using social media to update the world on what Argo were doing, monthly production metric’s videos ( ARB were the first to do that ) pics of infrastructure been installed, tweets about energy efficiency (ARB first to go green mining) , wall would be on podcasts, the mining council updates you name it Argo was constantly putting out information.
While Peter was an outstanding publicity machine it became clear his business acumen was less impressive, what cost Argo was committing to expand as the BTC cycle turned and not selling coins into a rising market along with moving away from retail investors and concentrating on the institutional guys .
The point I’m making is if QBT are to make the gains some are expecting they have an ever shortening window of opportunity for this cycle, absolutely no doubt there will be a large tick up in interest from the wider investment community as the halving approaches and those investors will scramble for the stocks that offer exposure to crypto. FG would do an awful lot worse than hiring someone LIKE Wall to drive interest, we have to remember things have changed the new generation of investors expect a social media presence they want videos and pictures and information.
Imo the odd RNS and proactive video will not produce the value of what FG is claiming to be revolutionary tech for shareholders,whereas someone like wall would produce SP appreciation far in excess of the underlying company value with smart marketing.
And just for the record I’m not saying QBT should hire Wall his boat has long sailed .
I still hold a tiny amount of Argo and QBT in kids investment fund but these are basically rounding errors from lump sum sales in the past .
Have a good week all and a belated happy birthday to Addi .
Larry fink ( Blackrock) is arguably the most powerful man in the USA possibly with exceptional of William J Burns ( director of CIA) and I include sleepy joe in that ! if he wants an ETF it’s as safe a bet as you can have he’ll get it , my guess is however the SEC will attempt to hold off approving for as long as possible even though Gary Gensler is under huge political pressure ( motion put to the house for his removal) .
What I would say however is it wouldn’t be the biggest shock if BTC sold off a little after approval bit of a sell the news event but longer term it will bring more money in and push the price up I’d imagine.
Probably nothing!
XRP wins its case against the SEC ,
AND
The SEC officially recognises Bitwises spot Bitcoin ETF application !!! Not approved yet but it’s getting closer and closer
If anyone wonders why Bitcoin is struggling today it’s because the US government have dumped another batch(10k I believe) of the seized Silk Road bitcoins !
Hilarious there trading & profiting from something they are desperately trying to stop , be interesting to see how the SEC and Gary Gensler try to justify that in the upcoming court cases against Coinbase
A few important dates that could move the bitcoin market significantly in the short term -
🚀 Mark your calendars, folks! Here are the potential dates for the SEC's decision on the BlackRock Bitcoin ETF:
🟢 Aug 12, 2023:
Will they accept, reject, or snooze for 45 days
🟡 Sep 26, 2023:
Another shot at acceptance, rejection, or extending the anticipation for 90 days
🟠 Dec 25, 2023:
Santa might bring acceptance, rejection, or a 60-day postponement as a stocking stuffer
🟠 Feb 24, 2024: The final countdown! SEC must make up their mind and accept or reject the application.
🐂 if the SEC goes silent after the final date, it's considered an acceptance. Talk about suspense!
🧸Bear in mind - BlackRock has the power to withdraw the application anytime potentially getting #crypto market REKT
Personally I think ARK may win the race to be the first ETF to be approved.
In addition October 23/24 (2023) could be a a couple of days to keep some powder dry for . Mt Gox will finally start distributing 143,000 BTC that have been recovered back to customers who suffered during the 2013 hack ,potentially flooding the spot market .it’s impossible to say how many of these coins will find there way back into the market but we must remember these coins have at very least 100x ( at current prices) since they were purchased so In many cases the holders are now multi millionaires and will surly be tempted to cash in at least part of their hodl .
Interesting to see the BTC miners are starting to increase spending on infrastructure with many diversifying into related industries while also spreading political risk by locating throughout the globe . It would appear many institutions have woken up to the crypto mining industry’s potential in recent weeks with vanguard increasing their exposure to miners to $560m+ , vanguard are far from alone in gaining a stealth foothold in Bitcoin with most miners having dozens of well known hedge funds and big finance houses appearing on their share registers.
It also seems the manufacturers are stirring with
Jack Dorsey's Block to launch complete set of bitcoin mining hardware and software "early next year" only time will tell if Jacks attempt to break into BTC mining is more successful than intel’s , that said the listed miner using intels chips are consistently in the top two most efficient BTC miners to report each month .
Anyone in ARB during the summer doldrums of 2020 (3.5p-6p) will recall a very similar pattern to the market currently, small upticks followed by periods when those hard won gains were eroded and new lows tested , positive news was sold into by those who didn’t fully understand the potential or the Bitcoin cycle ,
All to play for but time is of the essence as there’s a clear window of opportunity when miners increase their capex prior to the halving.
Strong rumours SEC chairman Gary Gensler has offered his resignation following an internal investigation into his conduct.
Reading between the lines turning down Blackrock was a step too far from a man who once actively pursued employment at Coinbase not to mention approved said company for Nasdaq listing the issued a wells notice against them .
If this proves to be true expect a raft of ETF approvals in the coming weeks .
The investable assets market is in the region of $400trn it wouldn’t be outrageous to suggest asset managers would allocate an initial 1% to crypto or $4trn , current crypto mkt cap is around $1.1trn , so the possibility of an extra $3trn flooding into the market in the next 12months or so and that’s at 1% allocations, if asset managers were to allocate 2-5% , well I’m sure you can do the maths .
Don’t shoot the messenger but the information has come from several very reliable sources, time will tell .
Unfortunately once again fleecy you show up your lack of understanding of Bitcoin .
Bitcoin miners earn income from multiple sources not just mining Bitcoin, it’s very probable that the majority of miners will continue as going concerns well after all Bitcoin have been mined, as Bitcoin adoption and usage accelerates transaction fees will become a lucrative income stream .
The myths regarding whales is just sheer lazy research , we can see from on chain analysis the overwhelming majority of LTH have sold very few if any of there originally stack in fact many continue to stack on pullbacks.
In many cases those with an agenda against Bitcoin include exchanges & miners when trying to claim whales are selling, clearly both these cohorts do buy and sell on a regular basis as part of there day to day business .
Current BTC holders as @ 6pm 14/04/23
Miners 9.7%
Exchanges 12.7%
Humpbacks (5k+) 13.3%
Whales (1k-5k)18.4%
Sharks (500-1k)6.6%
Dolphins (100-500) 11.8%
Fish (50-100) 4.7%
Octopus (‘10-50) 8.9%
Crab (1-10) 9%
Shrimp ( below 1)4.9%
As we can see from the above list Bitcoin is actually far more evenly spread amongst its holders than any other commodity / currency…. Another win for Bitcoin ;)
The governor of the Bank of England says it is considering whether to raise the level of protection for savers.
Time to short HSBC & Lloyds again me thinks , the cracks are getting wider in the fiat Ponzi , I’ve little doubt they’ll manage to plaster over them again for a while but long term the sands the footings are built on are washing away.
Signal is stronger than noise unfortunately far to many listen to the loudest voice in the room .
Bitcoin solves this .
Fleecy in 5..4…3..2……
The bigger picture
Ppl need to take a bit of a step back from hourly/daily correlation between BTC & QBT , look over a 12 month period.
QBT intra day low from memory was .88p so nearly 100% gain to the current price of 1.7p
Bitcoin bottomed out at $15.5k (depending on which exchange you use )
Now at $30.3k so 95% up .
There’s little doubt imo QBT’s shares are currently very closely correlated to Bitcoin when you widen the time arisen to the weekly .
Really nice consolation in the $30k range btw , I may well be proven wrong on the pull back to $28.5k before taking off to $40k but only time will tell
Have fun peeps
That makes sense virtual postman , thanks for the info.
All I can tell you is according to short tracker the shorts in TM1 are down to .5% , last time I checked (last Thursday) the short positions stood at 3% , so I suspect someone has got burnt and closed the majority of their position because it seems there’s only one trade open . Almost certainly whoever is claiming to be short is not been truthful.
Interesting and encouraging to see that 3% shot positions in TM1 is now down to .5% !
It must of been a painful week for them let’s hope that pain continues…. SQUEEZE!!!!!!!
CPI comes in softer than forecast Bitcoin rockets in reaction!
Just be careful, this often happens as folk get over excited initially then the reality sets in when various FED speakers pour cold water on expectations.
Early reaction looks bullish.
Have fun folks
There you go yet again Fleecy , have you not heard the term not your keys not your coins ? In other words if you keep coins on exchange or market place they become susceptible to hackers , something that’s simply not possible if you keep them in a cold wallet.
Think of it like keeping Gold in the bank , it’s liable to theft , if you keep it home ….. it’s still liable to theft ! Unlike Bitcoin;) another win for Btc .
If memory serves me correctly the hacker set up multiple accounts and identities on Silk Road in order to gain trust from Ross ulbricht which ultimately meant he could hack the system. The US government gained the coins as part of a plea bargain .
And yet again Fleecy you manage to expose just how poor an understanding of Bitcoin you really have !
Please explain to us all how a government can take Bitcoin from anyone without the seed phrase that unlocks their wallet ????
Ffs give it up , I’m actually embarrassed for you most of the time .
I’m very far from knowledgeable on geopolitics but my take is that both Russia and China smell blood , they both see a weak US administration and a financial system that’s built on sand .
I think China will continue to antagonise Taiwan in order to send a clear message to other nations in the area who’ll need to pick there sides carefully, Japan seem to be moving away from America financial influence, it would appear even closer to home macron is hedging his bets which will surly cause tension within the EU .
Both the Russians & Chinese have been stacking gold , silver and most importantly rare earths for 10 years or more in preparation, I fear us in the west have been brilliantly outflanked , this is why I feel it so important folk learn about the banking system and take control of their finances preferably outside the clutches of governments .
Quite a nice discussion on Doc Holidays Twitter spaces podcast again this morning about TM1 , one female contributor was very knowledgeable.
Whilst not a huge audience (150 listening ) they are all small cap investors so potential shareholders. Also many are tweeting about TM1 so word is getting out about the potential.
GLA