Member Info for Blubay

Interesting point, and while other miners have also been holding from the market against the drop there will be a lot to sell when it goes up

How are you calculating 'fair value', based on what?

Little bit of speculation over on the Sirocco BB but nothing conclusive

This was probably posted before but I hadn't seen it. Not sure if they continued with the divestment this month.

"Scirocco Energy PLC (LON:SCIR) has generated about £1.6mln from the sale of shares in Helium One Global Ltd. Scirocco, in a statement, said it had sold an additional 7.45mln Helium One shares to reduce its holding to 9.95mln shares or 1.59%. Including a prior transaction, Scirocco has received a total of £2.06mln from the sale of Helium One shares since it floated in London in late 2020."

https://www.proactiveinvestors.co.uk/companies/news/949771/scirocco-energy-generates-16mln-from-sale-of-helium-one-shares-949771.html

Probably worth waiting to see where it lands. Lots of late buys yesterday but before the BTC breakout, which might go a bit lower yet if it doesn't bounce at $32k (recent lows $29k and $31k). 2xSD away from the S2F prediction is probably at the boundary of hypothetical, but that would be $24700. On the bright side, 2xSD the other way would be $300k!

When there is a positive story to tell and shortly after the board members buy back in probably?

I'm not sure it's worth replying at all. These profiles are created solely to fill up the first page of visible threads with negative headlines and keep them there (because people reply). That's why they create multiple threads and troll their own threads to push them up the list and demote anything other posts. It's co-ordinated and the obvious ones do need reporting if they're abusive/disruptive/derogatory (but so do those who reply in the same manner).

Plotted here... https://imgur.com/xdyQMjN

BTC market is reaching an acute price pressure point today/tomorrow/this week, and the miners have pulled out of the market, everyone's waiting, the selling is probably a mix of inaction (quicker profits to be made elsewhere) or fear. As soon as it moves there will be an almighty pile in.

It's worth zooming out, ARB is still floating well above the relative value of BTC this year (BTC is down and ARB is up). It's just a question of settling where it needs to float before tracking BTC trend going forward. If BTC bounced from here and ARB tracked it at this margin above everyone would be delighted and we'd have an ATH before BTC reached its ATH. Obviously it would be nice to have a wider margin of leverage on company news and that might happen too. Check the chart https://imgur.com/1YbqJ7b

another good buying opportunity

Yes, I agree it looks managed. Could also be working in reverse where the MMs are buying up whatever is sold to keep the price down and accumulate so they have plenty to sell higher when the price/demand rises.

But let's see whether PayPal manage to corner the market in BTC related retail payments first

Yes, I suspect BTC will settle mainly as a store of wealth, and mostly institutionally rather than privately owned then transposed into derivative products (including derivative retail savings and investment products). It might persist as a 'gold' standard in the field perhaps but there will be other 'cash' alternatives. No problem for ARB as they seek to be a blockchain company not a BTC company, if they can get their timing right in managing diversifications and cashing in or borrowing opportunely to invest.

...possible movement emerging ahead of US opening...

Come back in September

BTC doesn't stand for anything inherently although some of it's initial pioneers do (in a slightly scary evangelical way) but the technology is out there and it will be adopted, adapted and leveraged through derivatives in a variety of ways and including ways that give more retail exposure (without necessarily direct retail ownership). On balance of probabilities it's much more likely that institutions and governments will own the block before it overthrows their existence in a right wing libertarian revolution ;-)

yep, the conference was a complete PR disaster and wildly misjudged for the current market transitional context but if it peaks up the interest a bit it all adds to the buzz I guess. The IIs 'waiting in the wings' worries me a bit as that could have the same drag down effect it's had the past month if they hunt for a de-risked entry point. The best outcome will be when they feel they've missed the boat and race to get in. If the other miners follow ARB in hodling on for a bit the limited supply might catalyse a move.

Shepherded rather than controlled but it becomes a bit of self fulfilling prophesy when everyone's algorithms are watching the same chart. Either the volume collapses or someone makes a bold move. Supply is tightening a lot as the miners have taken new coin out of the exchanges and new institutional holders have come in.

decreasing price pennant versus rising volume... https://imgur.com/B5l8wRX