Member Info for giantsquid

Bitcoin price predicted to soar to $220K as China eyes reversal of hated mining ban. CHINA is planning to reverse its ban on bitcoin mining after it "stupidly gave away its lead position" by making it illegal in September. China’s National Development and Reform Commission (CNDRM) is now seeking public opinion on the inclusion of crypto mining in its list of “phased-out” industries. The state planning agency has called for the public to voice their opinion on the nation's bitcoin mining ban. The call for public comments by the politburo was issued on Thursday.
The move signals that the Chinese authorities could amend their previous negative stance on bitcoin. The Chinese state-run organisation's public opinion call is a reaction to how September's ban benefited their global competitor after Bitcoin miners fled to the US. Now the US is the world’s dominant crypto mining nation, and Beijing is starting to become alarmed after the current bitcoin bull-run. The value of bitcoin has doubled in price since China made mining illegal at the end of September
Speaking to Express.co.uk bitcoin pioneer Max Keiser has said the price of bitcoin will increase to "$220,000 by the end of 2021". He refers to the fact that Mastercard said they will soon offer bitcoin wallets and credit and debit cards with the option for loyalty programs where airline or hotel points can be converted into bitcoin. On September 24 Chinese regulators outlawed cryptocurrency transactions and mining within the country. The US has the lion's share of the global bitcoin mining hash rate. Kazakhstan and Russia are now in second and third place, respectively. As of the time of writing the price of the world's preeminent cryptocurrency is now £45,000 per coin.
Speaking to Express.co.uk Mr Keiser said: "Every country will need to strategically mine and hoard Bitcoin or watch their economy go down in a hyperinflationary bonfire.
"China stupidly gave away their lead position and now will be forced to come back in, but at much higher prices.

https://www.express.co.uk/finance/city/1511268/bitcoin-price-latest-cryptocurrency-markets-china-reverse-bitcoin-mining-ban

Bit of profit taking has caused BTC to drop a little, but the dips are being eagerly bought in anticipation of much higher highs to come. More and more investors are turning to crypto over gold during times of high inflation and uncertainty - and high inflation isn't going anywhere anytime soon. Expect the BTC rally to continue in earnest. The dips we're seeing won't last. QBT will soon be north of 10p, potentially well north of 10p imv. Hold onto those shares.

One bitcoin is worth nearly 1.5 x the market cap of QBT, with predictions BTC could go much higher, if QBT starts mining bitcoin soon, which one assumes will be the plan, it's pretty clear this stock is significantly undervalued considering the potential. Mcap could easily top £100 to £150m+ in the not too distant future (11p to 17p+)

Long range forecast
Sunday 31 Oct - Tuesday 9 Nov
Sunday is expected to be a generally unsettled and windy day, with prolonged and sometimes heavy rain for some parts being followed by showers for most. There is a low risk of a potentially very windy spell lasting into early next week. Thereafter, a spell of cooler weather is expected due to northwesterly winds, possibly becoming northerly later. It will remain unsettled, where longer spells of rain will be interspersed with showers, and there is the potential for further episodes of strong winds. As a result of this, temperatures will be at or below average, and this will be cold enough for snow over the Scottish Highlands. Any settled spells during this period will be short-lived, but if they occur overnight, frost and fog is likely.

Wednesday 10 Nov - Wednesday 24 Nov
Northwesterly winds are likely to continue to dominate during this period. It will continue to feel cool with temperatures below average for many. The unsettled weather will continue, where the west and northwest will see the wettest conditions, and the east and southeast the driest. Longer spells of rain will be interspersed with showers, these likely wintry over the Scottish Highlands and perhaps the hills of northern England and Wales later in the month. There will be some drier and settled spells, but these will often be short-lived. However, if they occur overnight, frost and fog is likely.
https://www.metoffice.gov.uk/weather/long-range-forecast

Apologies weathergeek, I'm looking at Google which has mcap at £17.82m whereas LSE has it at £26m (thanks for clarifying)

I'm no tech geek but considering the astronomical rise of BTC, and the fact many experts predict it'll go much higher, one has to agree any BTC related stock has exceptional upside potential. I wouldn't be entirely surprised if the market cap reaches £150m or so given the momentum in BTC (10 bagger from the current sp).

Crypto Price Prediction: Bitcoin Forecast To Hit $5 Million As Price Soars Through 2021
https://www.forbes.com/sites/billybambrough/2021/10/23/crypto-price-prediction-bitcoin-forecast-to-hit-5-million-as-price-soars-through-2021/

It's impossible to put a value on crypto related stocks - I suppose the best advice would be to focus on the market cap, not the share price. Any BTC related small cap could have a lot of potential upside considering how much BTC has risen, and how much higher some are suggesting it could go.
GL to those holding here.

Gold price up as it appears inflation genie out of the bottle
https://www.kitco.com/news/2021-10-25/Gold-price-up-as-it-appears-inflation-genie-out-of-the-bottle.html

Gold Regains $1800 as Powell, Yellen and the World Bank Acknowledge Higher and Persistent Inflation, Oil Hit Multi-Year High
https://www.bullionvault.com/gold-news/gold-prices-102520215

Twitter: gold's best periodic returns have occurred when gold and nominal rates move higher in tandem. This has been true since at least the early 1970's. It's gold's way of signaling that the Fed is way behind the curve in managing inflation.

Notice gold's been rising even with 10-yr climbing too (to 1.67%). 10yr/gold so-called "correlation" was always baloney. Negative real rates & gold are the true key correlation & with suppressed inter. rates &PERSISTENT inflation, gold's going a lot higher

Precious metals are at an interesting juncture. We can only go on Comex figures, representing perhaps 10% of total non-option derivatives. But if they are any guide, the firmer undertone, lowish volumes for gold and no increase in open interest signal classic bear squeeze conditions — the bears being predominantly the Swaps, three-quarters of which are bullion bank trading desks. These traders are running out of time ahead of the Basel 3 deadline in London only eleven weeks away.

https://www.goldmoney.com/research/market-updates/market-report-gold-and-silver-advance

Strong Bullish sentiment in gold as Powell talks down inflation threat
https://www.kitco.com/news/2021-10-22/Strong-Bullish-sentiment-in-gold-as-Powell-talks-down-inflation-threat.html

'Urgent’ Action Needed—‘Massive’ Bitcoin And Crypto Price Collapse Warning Issued Over Systemic Risk

Earlier this week, influential central banker Jon Cunliffe, currently serving as the Bank of England's deputy governor for financial stability, warned "a massive collapse in crypto-asset prices [is a] plausible scenario" and the fast-growing bitcoin and crypto market could pose a threat to the financial system if not urgently regulated.

https://www.forbes.com/sites/billybambrough/2021/10/17/urgent-action-needed-massive-bitcoin-and-crypto-price-collapse-warning-issued-over-systemic-risk/

Binance CEO Issues Serious Crypto Price Warning As Sudden Bitcoin ‘Flash Crash’ Knocks Ethereum And Wider Market

https://www.forbes.com/sites/billybambrough/2021/10/21/binance-ceo-issues-crypto-price-warning-after-sudden-bitcoin-flash-crash-knocks-ethereum-and-wider-market/

Worthless fake gold costing £44k? Or real gold with real value, costing £18.10 an ounce? Common sense should tell you which is the better investment. The bitcoin bubble is going to burst, probably in spectacular style, and soon. At which point gold will boom. That's a prediction.

Bitcoin is tanking, gold is flying..

Russia continues to add gold to the country’s huge forex reserves
https://www.rt.com/business/537986-russia-gold-reserves-growth/

Gold on the up again
https://goldprice.org/goldprice.org

"So why would Tesla accept bitcoin as legal tender"?

Musk on bitcoin (just after Tesla invests $1.5bn in bitcoin) :

"If the price of bitcoin goes down, I lose money. I might pump, but I don't dump. I definitely do not believe in getting the price high and selling or anything like that"

Lol, who believes that nonsense?!
In that statement, he's basically admitting it's a pump & dump scheme. He's outright admitting to pumping it (first he invests big, then he announces HIS OWN COMPANY will recognise it, which is a blatant move to pump bitcoin, knowing darn well it'll result in the price going much higher)

The whole thing stinks of one big money making scam. And the problem with schemes like this is - for some to make money, others have to lose, it's like pass the parcel, and nobody wants to be left holding it when the music stops...

When the bitcoin bubble bursts, gold will boom. Gold has real value as well as many uses in all kinds of industries, whereas bitcoin is just a worthless pyramid scheme type fad. Buffett and munger are both very opposed to crypto. Yes, they don't like gold all that much either, but for very different reasons to crypto - which munger refers to as "trading turds". I do think bitcoin will come crashing back down to earth in the not too distant future. Russia, China, India, Brazil, Germany etc - they're all stockpiling gold and have been for some time, they know what's coming. Inflation is soaring, there's even talk the US dollar could collapse. Gold will soon be moving very much higher, it's just a waiting game imo.

China owns a lot more gold than it’s letting on – and here’s why

https://moneyweek.com/investments/commodities/gold/603131/how-much-gold-china-owns-yuan-reserve-currency

Warren Buffett quotes on CryptoCurrencies :

(1) I can say almost with certainty that they will come to a bad ending
(2) Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero
(3) It's ingenious and blockchain is important but Bitcoin has no unique value at all, it doesn't produce anything. You can stare at it all day and no little Bitcoins come our or anything like that. It's a delusion basically
(4) If you and I buy various cryptocurrencies, they're not going to multiply. There are not going to be a bunch of rabbits sitting there in front of us. They're just gonna sit there. And I gotta hope next time you get more excited after I've bought if from you and then I'll get more excited and buy it from you. We could sit in the house by ourselves and we could keep running up the price between us. But at the end of the time there's one Bitcoin sitting there and now we've gotta find somebody else. They come to an end
(5) In terms of cryptocurrencies generally, I can say almost with certainty that they will come to a bad ending. If I could buy a five-year put on every one of the cryptocurrencies, I'd be glad to do it, but I would never short a dime's worth
(6) Probably rat poison squared
(7) It's a mirage basically. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money just because they can transmit money? I hope Bitcoin becomes a better way of doing it but you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view
(8) it's not a currency. It does not meet the test of a currency. I wouldn't be surprised if it's not around in 10 or 20 years. It is not a durable means of exchange, it's not a store of value. It's been a very speculative kind of Buck Rogers-type thing and people buy and sell them because they hope they go up or down just like they did with tulip bulbs a long time ago
(9) A rising price does create more buyers and people think 'I've gotta get in on this' and it's better if they don't understand it. If you don't understand it you get much more excited than if you understand it
(10) it will feed on itself for a while and sometimes for a long while and sometimes to extraordinary numbers. But they come to bad endings and cryptocurrencies will come to bad endings