Member Info for preciousmaj

You two know exactly what I'm saying and choosing to twist my words, we could go back and forth with this all day which may be okay for you as you're probably getting paid to do this but I have better things to be doing. If it is a "LIE" then we won't hear it as it won't be disclosed, the purpose of being econonomical with the truth is to find a solution. If/when a solution is concluded then that will be reported accordingly. We're not going to get a running commentary on what each party said to reach the outcome. My point has been made, doesn't matter if you don't like it as it presents an opposing view. Time will tell.

Its extremely disingenuous of anyone that has invested in the stock market for longer than a day to suggest Directors don't bend the rules sometimes.

Where did I say PW is the messiah, refer back to my original post.

"It also has a duty (and a legal one at that) not to lie in an RNS."

It only becomes a LIE if it is reported to the market and misleads shareholders.

Hexam this is a public bulletin board and anyone can post their opinopn. You have to accept other peoples views even though they may be slightly more positive than your views. You don't have all the facts at hand and nor do I.

Call it what you want Hexam. The Board has a duty to ensure Argo survives, this is a unprecedented situation and running out of cash this quickly seems unrealistic like others have mentioned in recent days. You have offered your opinion on possible reasons why they have run out of money and I have offered an alternative view, what's the issue?

Firstly, DCA is mostly used in crypto terms these days which is why I said it was a crypto term. Does it matter though?
Second, yes it is my choice and my money, thank you for your concern though.
Thirdly, where have I said it is a FACT that ARB has 'cash in the bank to last a few months'?
I know you and HC have issues accepting different views but change the tune once in a while, it really is getting boring.

Yes seems that way PI. The issue with HC is that he has an issue accepting the fact there are alternative views that may have some merit. I have tried to keep my post as balances as I could but HC jumps on anything remotely positive. There are buyers and sellers in any market, and people have their reasons on either side. We put our own money to use and take our chances.

You invest in any stock or cryptocurrency in the hope they will provide you returns by looking at the situation and forming a opinion on where price will be in the future. Any investment involves second-guessing and making a judgment on future value, if there was no discrepancy between current price and potential future value then there is no market.

You have to be very naive if you think Directors of listed companies don't bend the rules once in a while to get a desired outcome.

Possibly but time will tell.

Anyone invested knows they could lose 100% of their investment anytime and Argo is probably as high risk as it gets. Having said that, I think Argo has cash in the bank to last a few months which contradicts what the company has said but I feel PW is probably forcing someones hand to bail them out now rather than later when they're even more desperate. I could be wrong but have put my money where my mouth is and decided to average down. Most are probably aware of the crypto term "dollar cost averaging" which is normally used in a bear market when sentiment is at the lowest, you still look at fundamentals but if Argo can survive the next few months and BTC recovers to $20k+ then things could change very quickly here. PW needs to step down to improve sentiment, and if a deal is pending then he will probably be demoted or removed, which will be positive. Of course a lot of this is outside of our control therefore very high risk.

I agree with your last comment HC. For me, the comparison that needs to be made is BTC vs GBP. When I became a director of our company in 2008, GBP was around $1.90 but is $1.19 today so has clearly lost value against USD. I can buy less for my pounds now than I could in 2008. Obvs comparing GBP with USD is comparing fiat with fiat but if it was GBP vs BTC then it would be much worse. I agree that the rise of BTC over the last decade was unprecedented and unlikely to be repeated but like I said you have to take your bet and see what will hold more value for you. I was invested heavily in Argo but sold well before the current debacle, I have since bought back in. I have now realised that its best to invest in crypto using decentralised platforms and not to rely on miners and their poor management teams.

"Yeah I'm near certain there's going to be another bull run that leads to miners rising at least 500% again before 2024 is out, probably next year. I want to be in and out before it potentially fizzles out for good."

That is sensible reasoning and I appreciate the honesty. To be fair, if there was a 500% gain in a bull market in the next year or two then I will have to reevaluate my position also. We don't know what the future holds and have to adjust our position accordingly. If it was possible to constantly sell in a bull market and buy in a bear market then we would all be doing it.

The problem with all of these arguments is that you only focus on bitcoin and its problems and you ignore fiat and its impact on the value of your wealth. You have to make comparisons between the two and determine which is better to hold. Personally holding everything in BTC is too risky but I'm more than happy having up to half of my wealth in crypto including a few alt and stable coins. BTC may not go 1000x but nor will fiat for that matter so why only apply this to the former.

Yet you continue to post on the bb day and night knowing full well that the company mines bitcoin. Interesting. The comparison is between BTC and fiat, we may not have the same returns as before but how will BTC perform compared too fiat over the next 5, 10, 20+ years?

"I think you must have misunderstood HC’s point as you’ve just reinforced it by producing the seemingly best argument that he suggested bitcoiners can make i.e. that it will do again what it did before.

As with all charts there is no guarantee that history will repeat."

By picking up on one point of my comment you have misconstrued what I wrote. There are no guarentees with fiat or BTC for that matter but as a BTC bull I would say external factors during these past few years i.e. the global pandemic, cost of energy, ftx scandal, cost of living crisis, etc have all had an impact on BTC price therefore a 5 or 10 year chart is more suited if you need to make comparisons. Those who are anti-BTC only like to discuss the recent 75% drop and would like to ignore the huge rise in recent years. Why would you look at short term volaitility if you believe in BTC long-term? The reason people have transferred their wealth into BTC is that they see it as virtual gold that will perform better than fiat.

"Currently for a bitcoiner to encourage a non bitcoiner to invest about the best they can do is say 'look at the past cycles, it will do that again!'"

There lies the issue with your argument. You seem to be a short term investor or speculator but many BTC bulls believe in having 100% of their money in BTC. For those looking at a long term hold, the last 5 year or 10 year chart comes into play but if you're intention is to make a quick buck and transfer wealth back into fiat then it doesn't make sense for you.

"Since, bitcoin has fallen by over 75%. Does that sound like a store of value to you? If property went up 500% one year and then fell 75% the following would we describe it as store of value? No."

If the value of my investment went up 500% one year and then fell 75% the following, I would still be in decent profit. Yes BTC is volatile due to the non-crypto things going around like I explained in my last post but who cares about short term volatility and why only look at the 75% drop? Why not compare to the last 5 or even 10 years to get a more accurate picture?

Interesting post triumph1 but will have to point out that you seem to be conflating everything crypto. There's a difference between stable and alt coins and there's also a major difference between centralised and decentralised currencies and exchanges. BTC going from c.$20k to $15.5k is probably as a result of the FTX scandal but mostly due to fears of strict regulation to "protect crypto investors" as a result of what went on IMO. It makes you wonder if the FTX scandal was created by the elites to counter the threat to fiat. FTX was a centralised exchange but decentralised currencies (especially stable coins like BTC) will get penalised unnecessarily. Its okay for CZ to request tighter regulation because Binance is a centralised exchange like FTX was but this shouldn't impact the likes of BTC.

''You do realise that the only reason it's up is because btc is up yea?''

LOOOOOOL Argo Blockchain is a miner, ofc it will rise as BTC rises. The question for you is why is BTC rising?