Member Info for Blubay

It’s not a short term stock, it’s a relatively early growth investment in an emerging sector with excellent prospects but probably over the next year+

It gets traded like a short term penny stock because it’s investor base is still quite heavily built on PIs (although that’s gradually changing). Also because the whole crypto sector is fairly toxic when it comes to rumour sensitivity and current low summer volumes make it easier to move on news.

I really don't think it makes much difference to be honest, lots of company positive but I don't think ARB are at all NASDAQ ready at this moment and I really don't see that happening until further down the line, maybe before the end of the year.

I don’t think that’s helpful, we know that post was a malicious spoof so it’s probably best not recirculate it. Obviously it’s easy to see who the skeptic posters and board disrupters are, and who the mad tampers are, doesn’t necessary mean 2+2=5

There is not ‘poor sentiment’ around BTC this weekend, everyone is waiting to see whether the institutions dump or hold the final tranche of the Grayscale unlock, and whether this $31k holds as the bottom or whether it needs to bounce off the orders waiting at $30k, or whether it dips through that. Sentiment is actually become more bearish as we narrow towards a breakout point.

All part of the same rumour mill, the same people who were leaking FUD are now leaking FOMO, shorts moving to longs

Holding so far, but BTC may still be narrowing towards a crunch point Sunday to determine whether it breaks up off $30k or down after the final Grayscale share unlock.

the SP hasn't bounced because of any rumours, not directly anyway. It's bounced because it was being shorted within an inch of its life towards a target price of 80p. It was massively oversold and when those contracts were filled the shorters disappeared. Now they're happy to ramp it with FOMO rumours. A lot of buyers (and bots) were waiting to see where the bottom was and so the market flips over to buy rather than sell. There might be another attempt but if BTC holds above $31 this weekend there will may be a mad scramble to get in.

@Technical - "will get back once back in 80-85p range"

that's really not likely. The shorts were targeting 80p, they won and now they're gone, brakes off now apart from the obvious profit taking (although obviously need to see which way BTC breaks)

maybe $15k?

No news, just the short contracts fulfilled

That was always the game, short the share to 80p then pump it back up. All the FUD accounts and comments now being deleted .

Yes, it's phased, tomorrow is the largest of the unlock days

"China’s share of bitcoin electricity usage drops as Kazakhstan surges"
https://www.ft.com/content/73f44ff5-5f41-422a-946d-afdfe67c0b04

...or whether they need to buy a lot of BTC to cover their short positions

Some of the BTC nervousness is in anticipation of the unlock of Grayscale Bitcoin Trust shares to the markets, will be interesting to see what the institutions do with them, whether they hold, and what the demand is if they let them go.
https://markets.businessinsider.com/currencies/news/grayscale-bitcoin-trust-unlock-effect-crypto-markets-share-expiration-price-2021-7

Judging by the data they seem to be airlifting to Kazakhstan (just become third biggest mining country in the world)

Very helpful, the ballpark £1bn makes sense to me

They are further ahead in their business development, but yes, certainly undervalued at today's prices

the LSE ticker doesn't show actual buys and sells, it shows above and below price trades (I think, correct me if I'm wrong?)

"We are aware of the notice from CONSOB and can confirm that Binance.com does not operate out of Italy. This has no direct impact on the services provided on Binance.com," a spokesperson from Binance said