Member Info for HarChris

I hope you don't lose your shirt holding that short of yours form 60p.

These broker targets are meaningless. Admittedly I took notice of them previously and played around buying and selling boohoo after the mid December update and was somewhat heartened by the likes of Liberum sticking with a 200p target and Deutsche Bank 230p whilst boohoo traded around the 105p mark. I mean Barclays upgraded boohoo to a 415p target right before that Dec update even when the risks were evidently growing.

Broker downgrades will probably add to the share price weakness short term but they're not worth taking notice of on the whole.

Thanks 28jaczar01, it does look to me like Argo is doing all it can to grow without punishing current holders through dilution and given the riskiness of crypto these rates are what you'd expect and more than competitive.

Many of the 'bought more' lot have been saying the same on every quarterly results for the past year and must be sitting at huge losses. Sure the share price might be close to the bottom but this is not a recovery play right now.

Do you think this pressure on miners to sell BTC going forward will put a strain on bitcoin? The recent bull run coincided with miners adopting a HODL policy but that surely won't be possible in the future...

Obviously this will matter less in years to come when less and less is mined.

That was my biggest disappointment with the recent results. We expected covid revenue to fall yes but some of us also thought the guidance of 50% decline was conservative and didn't factor in a potential winter spike - it does not look like we are going to see healthy covid revenue long term now if we weren't able to generate much with omicron.

About seven months ago he called ethereum the greatest 6-9 month trade setup in the history of financial markets - it's down about 15% since!

I don't think anyone's perfect but when you make those sorts of claims you are putting your reputation on the line

I don't think people should forget his endless ramping last year, what was it BTC to $250k by March 2022 latest? And Ethereum to $10k? He had a captivated audience back then at the height of the bull market and took advantage of it.

He's certainly worth listening to when he's not making specific predictions though and will hopefully learn from last year.

Best bit of TV in a while!

It really depends on how important it is to you to catch the bottom and your time horizon. Medium term you're rather likely to make a decent return if you were to buy at 62p today. You've got to think that at some point within the next 12-24 months BTC will rally and so will the broader markets and Argo mining ~450 coins a month should be back at ~£1,50 again min and possibly having a crack at £3+ (hence very good returns from 62p).

It sounds to me though from your second paragraph that you'd be best to wait til later this week and assess the situation after the Fed's decision - if you end up paying a bit more it's worth it for the clarity you'll have... you might also be paying a bit less too.

Thank you for your contribution.

Ideally you'd want the likes of Buffett and Munger U-turning on bitcoin and let's be honest if they did the crypto world would shout it from the rooftops but it's not particularly important. Let's face it bitcoin was never going to be a typical investment choice for Buffett and the manner in which he dismisses it actually makes more me wonder if he is threatened by the possibility of a new financial world he isn't relevant in.

Hasn't Fortune previously said that he wants to see us managing future expansion through internal financing i.e using profits generated? Cash at the end of the 2021 was $15m and with current FeV pricing and all going to plan that cash figure should be somewhere between $35m and $75m come the end of 2022 - more than enough to continue to increase operations without the need to raise additional funding.

Yeah I ran a number of scenarios to come up with what I considered a realistic range for the P/E come the end of the year and it returned a p/e of 1.7 - 12 with what I consider most likely to be about 5.5. And yeah I was extrapolating year end 22 into steady annualised 23 return, it's too hard to predict any further ahead and I'm looking at this as an eight month trade...

With how unloved miners are that worst case scenario probably wouldn't bring profitable returns from here but that best case scenario in a bullish bitcoin environment would see this multibagging . Certainly asymmetric upside at this price.

As far as I'm aware no where yet but it will be uploaded onto novacyt's website in due course...

The most obvious is if you believe the company are going to win their claim against the DHSC then it's rather hard to lose money from this valuation. Cash burn is low to non existent (we should continue to make a net profit year on year) so at the very least the company will grow steadily over time and should be able to sell much closer to your £5 average.

That can't be said for many AIM investments.

Taking hash rate at 5.5EH by the end of the year, BTC still at $40k and global hash rate increased by 50% (all reasonable) you're looking at a forward P/E of just under 5.

I guess the reason I ask Hexam is because I thought until very recently hash rate moved more or less in line with bitcoin, and in fact bitcoin's priced increased faster than hash rate (taking the past three years BTC has risen 100% a year vs 65% a year for the hash rate). I didn't think if assuming BTC stayed the same we'd expect continual 65% increases in hash a year?

There's surely a limit to how much hash rate will keep increasing ahead of price? Yes the big North American miners will be adding considerable hash rate but won't a lot of machines be slowly turned off as energy prices increase and margins on bitcoin mined are squeezed?

It's probably fair to assume they'll go up by the end of the year but I wouldn't be surprised if it's only 10% or so assuming BTC still at $40k...

I can absolutely guarantee you I'd never have posted on here again and would have just stuck to twitter or some other medium. You couldn't make it through 48 hours so desperate were you to stick the boot in today.