Member Info for HarChris

People have been saying the same thing about London for years yet the demand for housing kept increasing and the wealthy and successful continue to live there. I know personally five people/couples that have moved out of London since the pandemic almost solely due to being able to work from home whilst I know nobody that's moved there since. Tiny sample but extrapolate that out and you could find a considerable fall in demand for housing over time and then of course interest rates are going to have a huge impact too, especially so in a city that has been a hot spot for property speculation.

Anyway this is probably not the place to be discussing this so I'll leave it there, last thing I want to do is spam the bb with irrelevant chat as novacyt heads towards 50% gains for the day!

London is an exception when it comes to the potential effect of home-working on house prices, there is going to be an exodus in zone 2/3/4/5 now office workers no longer need to go into the office 5 days a week and can choose to live in Buckinghamshire, or Cambridge, Winchester or Brighton instead of Croydon, Tottenham, Bow.

CS, the working class have been largely driven out of London and have far less sway on property prices. Your shop keepers, delivery drivers etc may work in London but if they live there they almost certainly are renting a room in a large HMO and won't be London property owners.

I've never owned a rig before so have no experience of this AB, is it very simple to switch between low power mode and standard mode? If so I assume right now with BTC at $16.7k there might be a benefit to going low power mode but if bitcoin was to suddenly rise sharply it would make sense to give up the power gains as the extra hash more than makes up for it?

On Thursday the share price rose ~25% and we had those that said 'seen this hundreds of times, will fall 20% tomorrow.'
On Friday it rose 40% and detractors continued to scream pump and dump and expect a painful drop soon.
Today (as of now) it rises another 42%.

There's always going to be people taking profits or reducing their exposure with gains like this but with sentiment turning this quickly the buying pressure may continue to outweigh any selling pressure for a little while yet - interesting week ahead!

This is a good video for those interested in bitcoin miners: https://www.youtube.com/watch?v=PK-er-x8T7k

Tom breaks them down into four groups starting with his four favourite that he himself is most heavily invested in; 1- Riot, 2- CLSK, 3 - Hut8, 4 - Bitfarms followed by his honourable mentions; 5 - Mara, 6 - Iris, 7 - Cifr, 8 - Hive and all the way down to the six he has at the bottom (unranked); TeraWulf, Corz, Argo, Sdig, Greenidge, MIGI .

As a long term investor I agree with him on his bottom picks but from a short term trading perspective I'd have Argo higher up now and above the bottom 6.

It doesn't look like there's going to be miner capitulation near term unless either bitcoin drops a fair bit lower or electricity costs surge higher. All the distressed miners are being kept alive even if it's now simply a case of surviving sans thriving and many of the miners are still expanding month on month, albeit at a slower rate.

Perhaps the warmer weather in six weeks or so will lead to a decent chunk of hash coming offline (as miners no longer double up as a home heater) but besides that capitulation / average hash rate going below ~230EH/s seems unlikely.

Never expected a recovery to happen quite like this, amazing to see!

It's not a surprise, they mined 17.8 on average a day in November and have continued expanding since and difficulty is about 10% lower now. I suspect in a few days they'll announce around 570 mined in December and then will top 600 in January.

Certainly executing at the moment.

It's going to be the miners with a HODL and that are ever increasing that hodl that see the exponential rises in the next bull run, especially as that next bull run is likely to be within six months either side of the next halving.

The share price might rise a little from a not-going-out-of-business sentiment boost but it's hard to argue the case for a valuation too far above the current £30m. The full year accounts will show liabilities exceeding assets now and with no bitcoin in treasury and no ability to retain any of its mined coins unless bitcoin goes crazy that's not going to change. (will still need to sell all their coins if BTC rises 100% to $33k)

For the share price short term the recent restructuring is excellent but with nothing but 2.5EH/s of machines now and still a less than modest debt pile it's hard to find too many scenarios that'll see Argo flourish long term.

Then you have a company like CleanSpark that are currently valued at just £120m with the most recent financials showing total assets of $450m vs $50m of total liabilities and with hash rate now above 6EH/s.

Sucks to hear WoW, I pulled my holding back end of 2021. Hope you make it back elsewhere!

I ignore most of your childish digs at me but ffs, you've made this account just 10 days ago and yet you act like you've been here years. Suspicious to say the least.

I certainly got lucky, I threw money at all the small caps that were in the covid space, we're talking test manufacturers, diagnostics, drug manufacturers... many came to nothing others rose as much as 10000%. Started with a small amount and had three winners that got me to here but have given back about 50% of my gains from 2020 so far (which I don't feel too bad about with hindsight!)

Now I follow tons of companies on AIM and am largely invested in commodities with a renewables link, some high risk high reward pharma stocks, gold and bitcoin miners.

Thought so, quite different to me then. I know you made all your money in 2020 with Argo (and others?), for me it was pharma small caps during the early stages of the pandemic (novacyt, synairgen, avacta) and jumped in Argo along the way up to £3 but luckily was in and out and only started researching bitcoin and miners properly in early 2022.

AB how much of your portfolio is in Bitcoin and Bitcoin miners out of interest? Full committed or do you invest elsewhere too?

I’ve got 1.5% in bitfarms, 1.5% in Hut8 and 3% in Riot so 6% in total, potentially going to double that in 2023.

https://www.coindesk.com/business/2022/12/30/blackrock-gives-bankrupt-bitcoin-miner-core-scientific-a-new-17m-loan/

Was tempted to buy some before close as again this news seems positive but the share price goes lower.... pricing in a highly dilutive restructuring?

I've said it many times and i'll say it again, you don't understand nuance.

Argo aren't going under now in the short-medium term, this rescue package is great news for investors. Does that mean they are in a better position that two months ago? No, two months ago they were looking at a deal *WAY* better than this, a placing at 27p over three times higher than the current share price. But of course desperate times call for desperate measures and after that deal fell through and a few months passed, the share price at rock bottom lows, they were obviously never going to get such a deal again.

Considering the corner they were backed into this deal was a masterstroke, it was as good as it could have been. I've said that multiple times this week and now (here's the nuance once again), I see potential value if the share price were to fall once again. If it doesn't and remains (imo) overvalued I'll be left on the sidelines. I don't buy what I think is overpriced stocks but if others get lucky and guess correctly on the outcome of unknown funding negotiations then good for them! I just hope they realise the've got lucky or eventually that type of person will blow the lot.

Two months ago Argo was close to securing a 27p placing that would have fully funded the next twelve months and allowed them to keep their largest asset, an asset that will likely be revalued at $200m+ if bitcoin goes on another bull run.

If you mean they're in a better position than two weeks ago then yes, absolutely. They're in a far better position.

The majority sold yes, those still posting here without a negative word, didn't.

Own your losses and be thankful that in the past week you've been fortunate not to be wiped out.