Member Info for HarChris

@BYP you say that but the truth is if IIs had taken big chunks following positive news like after the August half year update we wouldn't be where we are now, the SP would have held up much better.

If the share price was higher we would be focusing on all the positives and things would look a whole lot different, it's only because it's so low that we go digging around to explain it. The same could be done with almost any company.

At least we know it can't go lower than cash, definite floor at around £1.50 a share? !

(joke, joke!)

Or they just hedged their bets and felt it was safer to be out than in?

That's what happens when you fail to inspire the market and convince them that you're anything other than a seller of covid pcr kits. I believe it will happen with time but even LTHs are waving the white flag and starting to doubt it. Avacta is a far higher risk investment than novacyt at these levels but they could theoretically be a multibillion pound company in just a few years if their trials are successful and novacyt likely won't be.

Hold no shares in avacta as I don't think it's a good time to be in such high risk speculative plays right now, unless it falls a good bit more than today's price, but I do understand why they are valued as they are.

I spent two weeks every single day saying if it goes any lower I'll buy my full holding back and then every time it's fallen I've backed out. Eventually they're going to sort this s*** out surely? They're jam packed with experienced people, it does beggar belief!

When all is said and done the mcap is falling but the cash pile is building with the potential of a big boost from the dispute.

Having reduced significantly after the last rise (for my sanity mainly) I've started buying them all back now. Sentiment at all time low but expect this to change as we enter the winter period in a few months time.

Will it go lower? Maybe. Probably even, but it's too damn cheap here whatever anybody says.

Seriously Kindness you are such a bore - you've been ramping away on here day after day after day for months, constantly promising big surges and £4 targets.

Appreciate I'm not on the list Poptimist despite generally providing generally bearish commentary - I suppose I don't spam the board like many that have made the prized list!

... comes another storm!

Is that you Porky?

It fell lower than that barnetpeter, twice hitting 83p in mid July but bitcoin was lower at around $30k. My buy order is in for 114p and if it does go that low and executes (arbk is 117p currently) then I imagine it will bounce hard initially with very strong support around 110p.

I think there's an easy and quick 25% to be made for those showing a bit of poise and patience!

It's a mad and unpredictable market that's for sure.

My 114p buy limit order is looking like it could possibly execute before the week's out!

Argo currently mines about 0.9% of the newly minted bitcoin, a jump to 11% is quite unrealistic and assumes too little of the rest of the mining network.

3% I would imagine is more than possible though?

Take your bitcoin mined per month projections and times them by 0.5 because by the time Texas is fully up and running we'll have already had the next halving!

(okay somewhat tongue-in-cheek but it won't be far off)

It's quite funny that Porky thinks simply refraining from posting on DRB between the hours of 2am and 5am will be enough to make us all believe it couldn't possibly be him!

@the_chuz I think the biggest problem with what you're saying is that there are many powerful people who want bitcoin to fail, like Zuckerberg for example. Many of his contemporaries have made fortunes from bitcoin, like the winklevoss twins and Dorsey and those that haven't don't tend to speak as fondly of it - probably due to professional jealousy.

Far from introducing bitcoin to facebook they've instead attempted to create their own currency. On top of that Zuckerberg has toyed with the bitcoin community, allowing rumours to circulate that facebook were going to put bitcoin on their balance sheet only for it then to fall flat - he then went on to cheekily announce he owned bitcoin, a goat he's named bitcoin not the digital token.

I don't think any of those big names you've mentioned have been taken in and duped, it's a bit more complicated than that. The success of bitcoin is based largely on confidence (as well as developments of course like the lightning network), by buying in and becoming strong advocates for bitcoin the likes of Saylor, Musk and Dorsey increase the chance of others joining the party and the price of bitcoin rising. Wild predictions and claims have historically played a massive part in the very high yoy returns, they became a self-fulfilling prophesy where bitcoin advocates predicted so and so price, this created hype and with it an increase in the price and in doing so gave credibility to those making the predictions.

What's happened in the past six months is that bitcoin got too big for those advocates to influence like they could before - too many big players involved and the mcap too high. Those folk, like the poster below's namesake TheWolfofAllStreets, have slowly lost credibility after continuing the same pumping strategy despite losing that influence. They are stuck between a rock and a hard place in all honesty - if they stop pumping bitcoin and say predict a three year bear market for example, it will likely play a part in creating that reality, as all those that follow decide to sell and buy back in after the next halving.

The HODL mantra was genius and created the potential for enormous rises in the price of bitcoin but that is slowly being replaced with a trading approach, with regular people happy to siphon off small profits rather than 'hold for gold'.

All that is not to say that bitcoin won't continue to rise over time but I highly doubt we'll see anywhere near the 200% compounded yoy on returns that bitcoin has seen since its inception and nor should it be the aim now - if it beats the S&P yoy with something like 20% returns, which is evidently possible, then that will be a huge success.

No I don't think so, it's been on going for about ten years now, it's just that it's getting far more attention now - partly due to Brexit.
Britain is short of 100000 HGV drivers, Europe 400000, and the US a similar number.

Sorry that should have said $135k to $450k in December according to PlanB himself otherwise it's invalidated.