Member Info for HarChris

Yeah definitely dumber than I ever realised, my bad.

A pump and dump refers to a situation where the share price rises (say 15%) but finishes flat or even down and hence traders worked it up and then all flew the coop. It does not refer to any share price that *slightly* trails off at the end of the business day.

Apologies to all, my attempts to shine a spotlight on PI100's agenda and glaring inconsistency has led to me essentially spamming the BB. I'll move on now whatever the response but the rest of us can be pleased that the share price is continuing to trend upwards.

Personally think the DHSC may drop the case in the coming months.

Personally I'm not arguing about the specifics but if I had come out and said 'Such a good RNS that we're 3.5% red. Thrilling stuff.' only for the share price to quickly soar upwards I would at least admit I might just have been a tad hasty and potentially wrong in this instance.

You also called the last rise to 73p a pump and dump and said it would be back in the 6s the next day. At least acknowledge that you are right 50% of the time, the same as flipping a coin.

Not the point I'm making and I hope you're smart enough to grasp that. I'm simply pointing out your logic is inconsistent. If the share price falls following an rns you claim that as proof that the market doesn't give a shi* about the news or that it's immaterial but if it rises following an rns you say it's just a pump and dump. You can't have the former without the latter.

It's a negative sl

I'm hoping at least in this instance you can see how hypocritical and inconsistent you are being. You can't sit here and argue that the RNS is s**t *because* the share price is down 3% and then fail to acknowledge that it might actually be good when the share price ends up 12% up.

As ever the PI100 logic is this:
Share price falls following rns - market not interested
Share price rises following rns - pump and dump

So both share price rising and falling is bad, apparently.

Yeah Stnz, it's all in here: https://compassmining.io/education/falling-bitcoin-price-debt-obligations-loom-for-marathon-digital/

And yeah that's true RE CleanSpark, that deserves acknowledging when folk say nobody sold near the top. I certainly remember them selling in January and February this year when bitcoin was as high as $49k. I don't think they ever had a HODL strategy, did they?

It's a real fine balance here in my opinion Chae. I've been focusing on Riot because they to me are the most likely to make it through to late 2024 whatever bitcoin does but the same could be argued for a number of others too.

The choice is invest now and with near certainty (if there is of course another bull run to come which isn't 100%) and lock in ~500% returns or hold off and hope things play out as there's a fairly decent chance they will and make 1000%+.

I think the former is the better choice, at least in terms of drip feeding funds over the coming months but at the same time I'm 70% cash currently and like it that way (3% Riot, 7% gold stocks, 20% commodities/pharma) - not fun being invested here if widespread contagion takes hold!

Whilst I agree on the whole with that post Huey I still think the dispute is by far the largest factor weighing on the share price. Without the threat of being wiped out the valuation *would* be substantially higher simply for the fact that there would be time to get all these things right and a hundred mil to back it. When things are going wrong in general and sentiment is low the market starts to attribute a higher percentage chance of losing, even if that's not the reality.

It's certainly not the only problem no but it's still holding the valuation down by a good 50% imo and if we were to win the dispute and receive a substantial cash injection we would see a big rally - so surely anything that lends weight towards winning the dispute *IS* meaningful?

Exactly 21ATS, we are talking about a potential £81.5m cash injection from winning the dispute for a company valued at just £52m.

Novacyt is only valued where it is today because of the risk of going to zero, of losing the dispute. This rns is worth its weight in gold if it vastly increases the chance of the dispute going in our favour. Anyone playing down today's rns is either ignorant or intentionally obfuscating.

Personally I wasn't worried about the suit when looking at Riot, on the plus side they could see a pretty meaningful cash injection if their claim is successful and any losses incurred are easily covered by the $225m cash they have on hand. But yeah worth keeping an eye on.

Pokerchips, it's certainly true that there are downside risks to all the miners in the short-medium term and investors don't fancy any of them at the moment. That's why it's sensible to slowly build positions at this stage and be careful to avoid throwing the kitchen sink at any (although better than doing it a year ago 500% higher!). It is a bit meaningless to say Riot is set to be unprofitable in 2023 though, absolutely every miner is obviously going to post a loss in 2023 if bitcoin remains low, there's no way around it. They will however start to produce a profit on any additional expansion from this point forward.

Yeah plus it's worth noting they've received ~$25m in energy credits so far this year.

I think many are missing just how much the top miners are going to benefit if the bear market continues well into 2023 - from 11 large publicly listed miners (well 9 with >2EH/s) to probably just 5 or 6 with 1 or 2 head and shoulders above the rest (for reasons I've been focusing on).

They are going to look damn attractive if it does play out that way.

It's implied - I'm highlighting how much stronger their financials are than any other miner and you keep repeating that you're put off by their monthly numbers based on their EH.

Unfortunately the market seems to understand this now and Riot's share price is holding up far stronger than all the others. Shoulda bought a ton at $3.90 recently rather than dipping my toe in.

If the only metric you're interested in is coins/EH then fine, there's better choices. If, like me, what is most important to you is being absolutely miles in front of everyone else when it comes to picking up the distressed assets (and not needing to dilute) off Corz and others in the months ahead then Riot is a standout.

I can stomach 5% less efficiency for absolutely massive growth!

Ps let's move on, i'm basically uninvested too but am looking to start building some holdings soon if we see a further 10-20% drop on the best three or four miners.

Fact is you constantly move the goalposts. Just a few weeks ago you were saying any miner that makes it through this bear market will multibag. I'm highlighting one miner that is as close to 100% to make it through as it's possible to be - very low debt, $220m cash on hand, 7000BTC HODL, approved ATM offering - and yet you aren't able to focus on anything but the negatives (yes no miner sold anywhere near the top, are they therefore all finished now?)

Once the weakest miners fall and difficulty drops further Riot (and probably Mara too) will be mining close to 1000 BTC a month - I'm still over 95% on the sidelines but it would be silly to completely miss the opportunity that's coming just because you're trying to time the absolute bottom.

It's also worth noting that whilst some of us are here come rain or shine discussing Argo, bitcoin and the sector, others like ProfitJock only turn up when Argo is rising, encouraging others to buy whilst spreading tons of misinformation and yet, according to him and others, they are the ones we should listen to?

Yesterday he continually insinuated there was a leak and that there would be a potential announcement at 2.30. Nah nada and now disappeared but surely to be back the next time the share price ticks up.

Phew was getting worried here that it was all positive and there wasn't anything to temper the enthusiasm.

Thank you as ever for your service PI100.

Whether you are able to see this or not you are very quick to make excuses for all the enormous red flags when it comes to companies you're keen on whilst magnifying everyone else's.

In fact most miners are over 90% down from highs whereas bitcoin is closer to 75%, diluting is far worse than selling a portion of bitcoin at this stage and once the market gets wind that you're continuing to issue shares your share price will only fall further.

Riot has the most cash on hand, has massive GW facilities and data centres, third largest HODL of all the miners and can issue shares if absolutely necessary (but won't need to) so to borrow a phrase from yours truly 'they're all a shi*show but they're the best shi*show.