Member Info for HarChris

Thankyou K3VMC, I was doing that research now. I think the point I was making is your underplaying the importance of growth in your comparison between the two, it's that sort of growth that commands high PEs so maybe understandable why Mara is valued over five times what Argo is.

It is not, IMO, irrelevant what other miners are doing though. Of course it's impossible to track every miner but it's not as simple as increase computing power = more coins mined for Argo, they need to increase that computing power relative to others otherwise they will still fail to mine more coins per month. In a sense, there's a competition going on every month for the 27000 coins being newly minted...

K3VMC, surely the rampant growth comparative to Argo stands for something? Coins mined per month in half a year has increased more than 5 fold for Mara and less than 2 fold for Argo. You didn't answer my question though... do you know why they are growing so fast and was this expected at this stage? It seemed to come out of nowhere to me whilst we wait to see how the Texas expansion for Argo develops...

What's going on re Argo vs other miners? I haven't been following closely but just noticed how fast Mara's coins mined is increasing - Jan 50, Feb 43 but then March 98, April 162, May 227, June 265!!!

Argo went from 93 in January to 167 in June, strong growth but incomparable to Marathon.

I assume the fall in Zcash has played a small part and I'm also aware that Mara's share price has held up better recently so I'm not arguing that it's the better bet right now, I just wondered how they managed to grow so quickly and if Argo is capable of doing the same any time soon?

$2bn here, $2bn there. Do that a few times and you’re talking about a lot of money.
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It's the matched selling that's cancelling out the $2b here, $2b there currently. It takes very little to move the market if the outlook changes and the selling pressure dies down, very little. Even at the ATH when bitcoin market cap was over a trillion dollars it took just $90m to increase the price by 1%, right now that's probably more like $45m.

I suppose as long as all these investment funds buy and hold then bitcoin will go higher.

I've recently reduced my holdings in numerous companies and am sitting on a sizeable cash pile, partly due to bearish signs on the main indices and partly to take a fresh look at things. I'm not a massive believer in bitcoin long term but I do personally think new ATHs can be reached before say 2022 is out (and maybe much earlier) so I am interested in a medium term investment here (or add to my small BTC holding).

I appreciate you sharing your opinion on that and I will bear it in mind!

That's a good point re tech companies, BTC needs a catalyst to break out of this trading range and more tech giants buying could well be that...

As for more general thoughts I think proper widespread adoption is critical for the long term success of bitcoin, it needs to be being bought and held or bought and used by an ever increasing number of people rather than an ever increasing amount accumulated by just a small percentage of mega rich individuals and companies...

So in general do you believe that for the value of each bitcoin to keep increasing like it has historically it's okay if it's largely being bought and hoarded rather than also having a more practical use (i.e remittances back to home country)?

I'm still of the exact same opinion that I have been for months now, I think it would help for consolidation at an even lower range than we're at now ($20k to $30k) for a few months for enough buying appetite to see BTC really rally and attempt a run at the ATH.

If that's true VanV2 then a) you are a poorer investor than I had you pegged for for being sucked in by a PI on LSE and b) at least you are still sitting on a massive profit whilst your nemesis is sitting on a sizeable loss (assuming you didn't buy or sell since).

The buy price for 100000 shares+ was between 12.79 and 12.92 today, it was a blue/level day yes, not a red day.

At this low price buying appeared to be well outdoing selling today so wouldn't be surprised if there's some under the radar shorting going on right now to take advantage of the shot sentiment...

Can you explain this statistic I came across today? https://www.theblockcrypto.com/post/107400/number-of-daily-bitcoin-transactions-falls-to-2018-levels

'The number of daily transactions on the Bitcoin network has fallen to a level not seen since August 2018'.

There is no question that more people have heard of bitcoin now than ever before, there is no question that the cryptosphere is going to grow over the next few years, but if bitcoin was really being widely adopted wouldn't we be seeing this metric increasing and increasing? Is there an explanation for this that I'm missing?

I think there's a general worry of a selloff in BTC over the weekend, it would explain the price action today.

Got to say I'm getting tempted again around this price, over 40% below the most recent placing is at least something to take notice of, even if the dilution was small...

The truth probably lies somewhere in between re director buys. In general they are a bit concerned about falling foul of the regulatory bodies but equally they haven't been motivated or bothered enough to really plan and execute the buys when the time is right.

I think they might make more of a concerted effort now that they've been pulled up on this and the share price has fallen so much...

'Glass half full mate, that is the opportunity to buy a company that has given dividends even when the shops were closed and a once in a 100 event happened.'

A tad misleading K, it's not primark that has managed to pay dividends but ABF, of which is made up many leading food brands. So not quite the disaster that it would have been if ABF was merely a retail chain...

I am also of the opinion that the 2020/2021 bitcoin bull run is over but I have no idea what happens next. I don't think bitcoin will settle dramatically lower than it is now and I also think the next bull run will occur sooner than history would suggest.

So I guess my own personal opinion is finish the year somewhere between $20k and $30k and another push north of $50k and maybe ATHs in mid-late 2022.

There are going to be hundreds of countries who do the same thing though and those mutated viruses are going to make their way to our shores. The only way to prevent dangerous new variants is for a concerted effort from every nation on earth to keep cases low, which frankly, isn't going to happen...

I'm relieved the two of you (HS and Kaeren) said that. The travel testing market is crucial to novacyt and I know how quickly the gov change their mind on things - having said that border control is different and is multilateral so yes that makes sense.

If we are looking at years for this sort of testing then that is an amazing foundation in which to build out the company.

As long as the rules don't change around pre flight and post arrival tests then ncyt are laughing. I know it's impossible to come up with an accurate figure but has anyone done a rough calculation of the potential sales figures from private sector airport testing?

Pretty obvious that many have sold during this drop and are itching for the lowest entry possible - once they've got it their tone will switch to more positive and upbeat (but not too much in order to seem a bit more legit).

Perhaps the start of the share price fight from the BOD?

The most obvious duplicate account in history.