Member Info for HarChris

Ludicrous justification for pure gambling. Do you think there's a person on this planet that watched Luna fall from $85 a week ago to $50, to $25, to $10, to $5, to $2, to $1, to $0.5, to $0.2, to $0.1 to $0.05 to $0.02 dollars and then jumped in and made 400%?

No, every person that jumped in along the way has lost a minimum of 99%, don't encourage gambling.

I've been thinking about this a lot wyt3fr0g but I just think housing is far too illiquid for events to play out quite like that. I do think we'll see house prices stalling and maybe even falling over the next 1-2 years but I'd be surprised to see a full on housing crash this time around.

A hypothetical question re bitcoin mining - what happens if BTC were to drop to say $16k for a prolonged period and 80% of miners disappeared? Is it as simple as Argo mining 5 times more coins or is there a risk to the network's survival?

I went big in gold this morning (well a gold miner), crypto will struggle to recover and the markets will likely be volatile for some time.

I'm not sure money will flood into AIM but novacyt is relatively safe at this price. Risk appetite will remain low and it's those with high PEs that are being rerated downwards currently.

'Why the big drop, its (sic) just an annual report?'

If this is a joke it wins the internet today. If it's not... god strewth!

Hope, one major problem is the length of time BTC held well above $40k and the amount of money ordinary folk committed at that point. The bitcoin promoters argued hard that the bear cycles of the past would not occur, that institutional investment and widespread adoption means it's only up from here, that as bitcoin is scarce nobody will part with it and it will prove a hedge against inflation. 1BTC = financial freedom etc

Their credibility is lost and will take a long time if ever to recover. Retail is all in already and new retail is going to be difficult to persuade. So you're left with relying on instis - they didn't follow Elon Musk and Scaramucci back when this was hot so are they going to pile in now? It's possible but unlikely I think.

At the very least bitcoin needs time in the wilderness before there's much chance of a push to anything like the $69k high.

Took a small amount at 44p, will go in much harder if it drops to 40p this week. Feel there's one last flush in this.

What it’s really worth is debatable and only time will tell… what we can say for certain is that far from deriving no pleasure from the situation, non crypto is positively frothing at the mouth!

About to get that $10 Mara entry Chaebol…

Whilst I still see a high chance of the bottom being between $25k and $27k I think all can admit that bitcoin’s done well not to capitulate up until now - what with the Luna debacle and wider market weakness it’s done very well so far today.

Very interesting to see what happens over the next 48 hours.

Whilst on the whole that’s true there’s certainly extra information on there that doesn’t get passed to here - it’s certainly a better medium to discuss BMN than this forum.

As 'cheap' as it is one needs real conviction and balls to buy in here!

Tempted but will wait for a number starting with 4.

I've been thinking the same thing for two years now, a lot of the crypto space takes credibility away from the likes of bitcoin.

Perhaps by the next cycle many of those coins and tokens and schemes will be dead in the water and the space will be a little leaner and fitter for it.

You're always very helpful and civil AB, appreciated as ever.

ValJu I don't understand this theory, why are the company desperate to remove all PIs? For what reason? IIs aren't exactly queuing up to take them off us?

If this was the plan why did David buy £100ks worth knowing it would go much lower? None of your theory adds up i'm afraid.

Out of interest are any of you bulls a little less bullish than you were earlier this year? Are any of you still considerably accumulating this week?

I agree HS - it's a shame in one sense as we would have liked a more aggressive accumulation but we're well past that point now, that didn't materialise.

I still think biosynex are likely to continue buying if they see value and won't be in a rush to see returns which should effectively put a floor on the share price around where we are now.

Peter chose a new way of CEO'ing, attempting to build a sort of kinship with the shareholders of the company, reaching out to them personally, liking their tweets etc this made shareholders feel closer to the company and proud to invest as well as building trust but the downside to that is that PW will feel forced to keep them onside and be as true to his word as possible. All the Q&As mean that he will make promises that he needs to keep even if it isn't in the best interest of the company long term.

It's interesting to me that what should be a major positive (communicating honestly and directly with shareholders) isn't actually all that helpful in the big bad world of business.

Herdie I'm not arguing this is a major problem but the ideal scenario would be accumulation through any extended period of depressed bitcoin price - this would have created the biggest possible upside on the flipside.

Of course hindsight is a wonderful thing and one never knows when a bull cycle is going to end.

Of course it would have been sensible to sell a small percentage then but I think where he bottled it a bit was the March 2021 placing - the market cap was around £800m and he could easily have raised double what he managed to raise at 200p a share with all the hype surrounding crypto. I imagine after selling his own shares the month before that really would have ****ed many off but it would still have been good management for the long term.

He was only going to get away with a couple of placings so may as well have gone in hard each time.

In my opinion that is why these miners are so out of favour - BTC tends to rally hard every couple of years so what we now potentially have is a long drawn out period of low BTC, ever growing global hash rate and hundreds of millions needing to be repaid (much of that through selling BTC). So instead of accumulating through the crypto winter instead a lot of it will be sold in order to cover opex and capex.

This wouldn't be disastrous if it plays out this way but obviously being able to accumulate rather than sell their HODL is less than ideal.