Member Info for HarChris

What you’re ignoring Chaebol is the coordinated effort by all involved to generate the sort of sentiment necessary to get to $60+k - the miners HODLing was a big part of that and signalled their belief that Bitcoin had further to go.

I imagine PW got caught up in it himself and expected BTC to hit $100k - now what we have is miners averse to dilution so forced to sell the bottom in order to cover CAPEX

I don't think the downside risk should be ignored though - miners have committed to huge expansion plans and if BTC doesn't behave for an extended period things will start to get a bit hairy.

Hexam makes some good points but for me Argo will never be a long term investment, if I believed in bitcoin I would buy bitcoin directly The reason I hang around these boards is because whilst what you say is true (when bitcoin falls argo drops harder) the reverse occurs too - Argo spiked over 3000% in just a few months between Nov 2020 and Feb 2021, when has bitcoin ever seen that sort of rise?

I'm looking to jump in properly here soon - whilst there is always the risk that bitcoin keeps falling and never recovers the chances are it will, at least in the medium term, and argo will be making a killing.

Thanks Herdie. Looking at the situation now it does look like the pressure on Peter not to go down the dilution route may turn out to have some long term consequences. Raising some of the funds through a placing for the 200MW facility would have given Argo more flexibility over when to sell bitcoin rather than being forced to dump more and more if BTC goes lower.

I wanted to see Argo with as big a holding as possible so come the next bull run their HODL would suddenly be worth hundreds of millions.

New ATL for Arbk currently, Riot going below $8, Mara $13 - do you think the big North American miners are going to be forced to dump considerable amounts of BTC to cover their enormous capex? Anyone know approx how many BTC currently held by Bitfarms, Mara, Riot, Hive, hut8?

Looking incredibly strong today vs the rest of the market - very positive sign.

We're rather likely to be in limbo for the months ahead share price-wise with the dispute resolution being the obvious catalyst in the short term - my word if it lands in our favour will we see the mother of all rises so at least that's something to hold on for all the while the company slowly builds itself up from the inside.

Ps some great research from WBAFC recently, keep it up!

Well of course but there was no way of knowing that BTC would be at $33.5k today, on Friday.

Stupid post all round but if BTC drops to 8k Argo ain't going to be anywhere near 30p, back to a penny share and fighting for its life.

Only a hypothetical as $8k is rather unlikely but goes to show you don't really know what you're talking about.

Chaebol I agree we won't ever see the sort of rise miners saw at the back end of 2020 into 2021 but very few sectors ever see spikes of that magnitude. If BTC does go on another run though in 3/6/9 months this will spike again and the share price, even if only temporary, will far exceed its 'true value' if there is such a thing.

And no that buy limit has been pulled, I'll be looking for slightly lower with BTC so bearish and flirting to go lower.

I've been trying to scale in (I like to build a holding in bear markets) but my 58.9 buy limit didn't execute - the basta**s!

I wasn’t around yesterday afternoon and was just wondering how low this dropped? Were there any quotes to buy below 60p?

Potentially true kn0wles but we must factor in Argo are selling a portion of their Bitcoin to fund growth going forward - lower BTC means more of the HODL sold…

Short periods of lower BTC might help tame global hash rate but longer periods won’t be beneficial to Argo in my opinion

What are you talking about? It's evidently correct... The 1st March saw the largest volume in a long while, 48 million followed by 21 million, 31 million and 25 million which absorbed a lot of these shares very quickly.

Volume fell after that so Duferco might still have a few left, say 10 million, but whatever happens they are either out or have 20% of their allocation left max.

Well today was good timing to dip my toe back in wasn't it?! Nasdaq is imploding right now!

Lol no I am not committing £10k based on an anonymous poster’s word, for all I know you’re a spotty faced teenager with 50 quid in your account.

Hmmm would you do that bet with me Chaebol? How would it work? Our money will be stored somewhere but who arbitrates and decides who's won?

If legit I think I'd bet you £10k on this

You can't write racis* on here? How strange.

Sounded like an 'i'm not ****** but'...

I've noticed Chaebol almost always gets 1 recommend per post - is somebody giving themselves a tick on their second account?