Member Info for bonker99

Loads of them.

Hopefully.

$31.1k to $33.9k in a straight line - not bad :)

I can smell the tweet from here - it's coming this week for sure IMO.

Whoever wanted 1,000x coins at $31,000 is out of luck for now :)

https://www.cnbc.com/2020/12/08/elon-musk-confirms-he-moved-to-texas.html

https://www.proactiveinvestors.co.uk/companies/news/947206/argo-blockchain-agrees-deal-to-construct-texas-mining-facility-947206.html

Purging Chinese miners will be the best thing for cryptos

https://twitter.com/zerohedge/status/1396496159095599109?s=20

Sure - not pushing back at all - just making the observation that the entire financial system is a ponzi wherever you look and BTC et al is no different :)

Afternoon.

The after-market trades on ARB are eye-catching, some £3m changed hands there - hard to believe that kind of money wouldn't have got out when the directors did well north of £2 so you'd have to guess that's someone weighing back in again but who knows - I gather there's a time limitation on some IIs buying into ARB by the end of the next week but I've not verified that.

Yup, feel bad for those buying in with BTC @ the comedy $60k pump price but it's getting interesting again now it's halved back to Elon Musk's Tesla buy price of $30k.

There's $200m @ $32k+ on the bid at Binance and nothing on the offer until $38k - who knows whether that counts for anything but at face value that's a lorra money looking to scoop up PI panic sells.

Crypto is no more a ponzi/pyramid scheme than the fiat 10:1 fractional reserve banking stuff that drives the stock market :)

That is their objective and it's why I engage - to unpick the stitching ;)

Something like $200m on the bid @ $30k+ on Binance right now.

On the offer? Jack until $38k.

Weekly close tonight of course then absolutely anything can happen the other way.

This one made me chuckle - who knows?

https://twitter.com/naiiveclub/status/1396452584647389184?s=20

Really interesting to see the relative support that BTC has at c$30k compared to the alt coins, they are still being trounced with no sign of support at all.

I'll give you the short answer to that quandry re whale HODLers & mining companies - it's the same money - and yes, "dark money" drives public pricing, just like Gold & Silver.

:)

Pearls - thanks for the Woolworths example.

Woolworths were one of the worst/best examples of the early High Street demise as the new world of online/digital took over. A culling of the weak, starting with the weakest. I wouldn't have backed them then, or the Post Office :)

If you want financial backing from serious investors then you need to show not just your own capabilities in the sector but also the likelihood of that sector being in a period of growth, not decline. The tens of millions of Dollars that recently went in here at 200p being such an example.

This isn't Woolworths or some 19th century infrastructure business.

I'm guessing I don't have to underline the growth in this sector recently and going forwards, wild, short-term resets aside.

As for the bitcoin price - what matters is business profitability, not the underlying asset price.

At the current $35k price, ARB are likely pulling in c£3m profit per month so they're not exactly on their uppers.

China pulling the plug on mining may well afford the opportunity for ARB to increase their coin mining rate going forwards too of course as the slack is picked up in the West.

I don't consider filtering opposing views to be healthy - 99% of what I know I learned from other people with different views to my own, especially over my decade or so in the markets.

If I'm wildly wrong on the numbers - all that matters here, not the words - then let's hear the numbers from the other side of the table.

I'm fully aware of that Pearls so I ask again - give us a number rather than the FUD fluff.

Cost per mined coin appears to be in the region of $10k here so at JPM's very recently stated "fair value" price of BTC @ $35k that still leaves ARB raking in enormous amounts of cash, multiplying their cost base despite the asset price halving.

This doesn't sound like a business that banks are likely to pull the plug on anytime soon and cashflow is often tight in a growing business as those profits are ploughed back into growth - this is how multi-billion Dollar companies are made.

If BTC gets near that $10k case base then, ok, we'll have a conversation.

I don't know the answer to that Pearls but on the assumption that such clauses exist why don't you float us a number rather than the usual fluffy FUD?

Ripping back to $35.6 as I type.

OK - re my earlier post about not being able to see how they dump BTC further in the immediate-term, I'm penciling in a +-$10k move for next Thursday from around the current price levels - that looks to be the triangulation timelines they're working on since the $30k print to my eye.

When was that deadline for IIs to get into ARB again? ;)

Talking of Tesla - I happened to test drive a Model 3 for an hour yesterday - that was fun :)

The rep told me to put it in "Chill" mode until I'd had 20 minutes in it but then I went to "Standard" and had a go at flooring it - my God almighty, if you haven't tried one then do so, it's something else entirely, not comparable with non-EV acceleration in any way at all :)