Member Info for CaneToad

I really doubt the IMF or World Bank does this sort of thing, despite what George might say about them. He's a bit naive some times. When watching George, you have to realise that he's a professional YouTuber, selling merchandise and earning ad revenue. This is why he wants you to 'smash the like button'.

Seeing the way that Ether dropped, I'm leaning towards the over-leverage explanation or perhaps the derivatives market wagging the tail of the dog due to the actions of options market makers.

Guys, I am not praising these 'Whales'...... My point is that this is the way the market has always functioned. The market is rarely your friend. That's why I was highly suspicious this morning when somebody mentioned there was going to be a big pump to help the El Salvadorans. Maybe it's the reason. Maybe not. Another possibility is that hearing there was going to be a 'big pump', people put on 50x leveraged bets and then a small dip caused a flash crash when everything became unstable. I hope it's the first reason. I watch George, but most of that stuff is like reading tea leaves and about earning income from ads.

A bunch of poor people were each given $30 in BTC and were under the impression that the rest of the world was going to 'pump it' to help them. In excitement, a lot of these people also sunk extra savings into BTC. Hearing this, BTC Whales decided to fleece them by dumping BTC to its lowest level in a month. It's a bit depressing that this is how capitalism works.

This has to be a big announcement from the SEC or something. ETH now down 24%.......................

ETH down 12%. No bottom in sight. I'm wondering if Gary Gensler has said something.

When I read that there was going to be a 'big BTC pump' for El Salvador today, I started to wonder if a group of selfish billionaires was really going to give poor people a boost... not that likely, I would think.

Guys, does anybody know what's happening with Ether. Price in freefall. 10% down. BTC also looking shaky.

ARB a massively better company than Digihost though; incredible that the market didn't appreciate our results.

Good mining results for Digihost today; market likes it.

Chuz: "I will probably just sit on the cash until the IPO details are known"

I'm also heavily in cash atm as the market sucks and the volume is tiny. I'm continuing to increase my crypto exposure though. Happy to do some quick ARB trades if the opportunity arises, but not to have a huge stagnant holding.

I trimmed. Will look to increase when the BTC correlation improves. Too many amazing opportunities in the rest of the crypto space to have ARB as my biggest crypto holding.

@Mary - I know precisely what you mean. I also have been doing the same for a long time. Despite what some people think, I agree that this can be a very successful strategy. It's widely used by fund managers and is explained nicely in Lee Freeman-Shor's book, 'The Art of Execution'. I have used it literally thousands of times.

That said, I'll be hanging back here for a while until the dust settles.

You don't need to offer that level of 'Equity Incentive' to attract good people. Most of the best crypto people entered the space, working for free on Open Source projects. I view this as an opportunistic money-grab.

The fundamentals are rock-solid. No doubt at all.

Technically, RSI is oversold, but it was also like this in mid July and it did nothing for a while and then dropped further, so I don't trust it.

P/E is sitting at 22.4 (12m Forecast Rolling), so it's difficult to argue that it's dirt cheap, though it's certainly cheap compared to US growth stocks.

@Pops. I don't see any ARB shorts for the LSE-listed shares. Unless, they're not declaring shorts, I don't see how this shady business works. I understand how it works for some other shares, such as NETW, because the shorts are visible and there are several firms involved and it has several well-known professional shorting sites involved to spread the FUD (the 'Dark Destroyer', etc of ShareProphe*s fame). I don't get what's going on with ARB. I also don't get what you're saying about the BoE...

I had a look at Revolut, but now use Kraken. Revolut supposedly get their liquidity from Kraken in any case. The fees are also quite steep on Revolut unless you have one of their premium subscriptions, while the fees are always low on Kraken Pro and there's no subscription; I typically pay at most 0.26% and less when using a limit order. The biggest problem is the difficulty in transferring funds in/out. As of yesterday Natwest (claimed) to stop allowing transfers. Lloyds still works, though you'll probably get diverted to their security team when moving a significant amount.

In my opinion, nothing has changed yet. It's still being heavily manipulated + massive artificial spread of 10p, which closes to 1p when they feel like it and often towards the end of the day. It will take a tsunami of buying to overcome this level of manipulation. Hopefully that happens, but from the look of it, these mongrels have deep pockets.

@damofari: I doubt we'll need a coffin. In my experience, INCE tends to be very boring, until it leaps upwards. If not for the fee to break the lease, it looks to have improved. The business itself looks to be growing and it looks relatively solid, while being very cheap compared to peers.

Consensus target price from 24 brokers is 5988.1, i.e. 71% above the current level.
Revenue has grown stongly every year for past 9 years.
Profitability is growing.
Debt is relatively small (Gross Gearing is 35%, Net Gearing is 25%).

I'm perfectly happy to average-down on this. It looks like a great investment and with 71% upside from 24 brokers, there is a huge margin of safety.

"About 0.5 eth a month currently so around £1350 Gross right now with about £230 electric cost."

So, ignoring hardware costs, it's roughly £1,120/month profit or 83% margin. Nice! I guess Vitalek has killed the long-term mining prospects, but it's nice while it lasts. Why not do a KickStarter, buy some more machines and start mining some BTC as well. That's something that I'd put some money into!