Member Info for Blubay

Increasing trade volume with no movement, looks like it might break out any time now

It's "Helioum One" in Swahili but there's nothing recent in terms of searchable online coverage I can see

Really narrow down now https://imgur.com/DukB7F5

is the group discoverable/searchable on Discord?

yes, it's a mess here sometimes out of hours but remember also to beware of creating an echo chamber on Delacey Island :-)

Watching the trading activity rather than the share price may give more clues (the buyer interest has been masked by the large scale seller, cancelling each other out) but anyone who's strategically invested in the pre-drill risk is probably in by now. The early capital will also be de-risking by taking their initial profits while maintaining future share options at discount prices.

That’s from last year, the analysis was more recently updated to 24p and 128p

@bigbench - one step at a time, there’s no point picking numbers out of the thin air. We’d all be happy with 1,500% or 2,500% but it’s not likely anytime soon. Maybe 50% on drilling, maybe 500% after major discovery if we’re lucky.

Come back in September

@Highveld - I think you’re mistaken. The BTC market is completely transparent because every transaction is public and we have a pretty clear idea what the saturation of II investment is, that has increased dramatically in recent weeks (now above 40% and probably more). The same thing has been happening in ARB and, for example, we can see exactly how many shares an number of institutions are buying because they are declared in fund tracking portfolios. The price drop can be seen as either fortuitous or manipulated to achieve this transition but there’s no doubt it’s happened.

I tend to agree, good prospect of 100% return on ARB by September/October, fair possibility of 500% here (no guarantees, risk-return). Both might rise a bit next week, or not... I’m currently a bit more weighted here than there but DYOR and make your own decisions. Good luck either way.

I suspect Friday 11th may be pushing it, but good luck

@Tomato - "Project Geologist working southern area of EA-1 Lake Albert, Uganda"

Note also that HE1's secondary exploration targets in the region, after this field, are also salted lake beds. This might have been a factor in recruitment.

@die - "tacky scenes and evangelical behaviour at the bitcoin conference"

Totally agree, awful, some really poor presentational choices at such a critical phase of institutional adoption in this market.

Zoom out and stop watching the ticker, enjoy the sunshine, nothing is 'tanking', it's just bouncing along horizontally in a very narrow and still narrowing band. Look https://imgur.com/MUwifeD

The right wing libertarian political agenda is naïve and unworkable. Blockchain is absolutely the future of finance but it will be largely absorbed, adapted and leveraged by existing institutional structures. Yes, it's a key facilitator in the continuing globalisation of money, and BTC may or may not be an enduring feature in that landscape, but all the political hype is just that. As long as BTC remains in the wild west it hasn't a future in mainstream finance. If it makes it into the maintream then the outlaws and cowboys will shift to another off grid asset. It's a fundamental flaw to equate blockchain solely with the outdated and discredited ideology of 1970s Austrian School economics. The Covid crisis alone ought to be enough to illustrate that neoliberalism always runs for the hills every time it needs help.

@Monkey - try to focus on ARB and forget about Musk. Is the ARB current business model the right one to ride out this year's BTC market? Yes. Did they make good choices where other miners made weaker choices by doing this earlier? Very possibly. Will they benefit more or less from next year's market by having held this year? Very likely. More interestingly, will the same anticipatory business model of hodling retain the same advantage once BTC steps up to $100k, or will it be more advantageous to cash and spend on diversification? Hard to say. All that's much more interesting than worrying about Musk Tweets.

At least, that would be my reading of the crystal ball... https://imgur.com/sQ72ivi

It's really not. It's pretty quiet and has become consistently less and less volatile each day since 19 May (channelling weaker and weaker oscillations into a diminishing pennant shape on the chart, focusing around $38k). That trajectory appears to run out of options sometime next week so it'll be interesting to see whether that's a point of change.

Yes, other miners doing what ARB does and hodling coin rather than releasing it to market while the price is low. Together with the big shift to institutional holdings, the assumption is that a significant price rise is anticipated (which may be self-fulfilling prophesy if market supply remains limited and institutional demand increases). ARB's business model, at this stage in its development, has relied on similar approach over the longer term by treating coin as a store of wealth rather than market income.