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All good, received this morning!
I’ve received the first email from Michael Cotter (and the update one) but I’ve not received anything about the zoom calls which Michael said he hoped to send on Friday (yesterday). Has anyone else received this?
Chipofftheblock - this was my reading of the last RNS also.
I’m not sure they have them working on the Bitmain rig yet. FG admitted that the porting issues hadn’t yet been solved because of the reverse engineering required for the rig and the chip (not documented)
But he mentioned there were NDAs with Chinese and North American rig manufacturers. So my view is the current live testing is occurring on a North American manufactured mining device. QBT would already have all the details they needed about the chip to be able to port.
For the people asking if tests had been running since December, it was only in the March update that FG said QBT has figured out the OS integration with CGMiner. Therefore I think as soon s this occurred they had compatibility with the US manufacturers, rig, chip, and operating system therefore allowing them to move to live testing.
Once the porting issues have been solved on the Chinese rigs perhaps we’ll also see testing on there. If the US manufacturer is Block though then this would be brilliant news.
Offices branded and staff on site already working. Neither probably happen if there was any doubt about Estadio being set up. All good indicators.
Appreciate the response City - the tie up is certainly interesting, a company the size of Bitso doesn’t just partner with companies who have ‘nothing’ to show for themselves.
What I’m most excited about however is if BET successfully launches we will be in a position where we will be break even as a minimum very quickly. That will then be a consistent revenue stream both from services to BET, and profit share. How many AIM microcaps can say that. Thats before valuation of the SaaS platform in the context of underpinning an online igaming platform is even discussed.
City - how do you see the Web 3 Wallet integration working from MOS perspective? Lots of potential synergies possible with that technology but interested in your take on what MOS will look to leverage? Additional market place for existing NFTs, new blockchain platform for development of new NFTs?
JDentist - what exactly do you want ME to do? In the past he was criticised for doing too many videos and interviews. He was slated on here for ‘ramping’. In this one thread there’s people criticising him for offering Q&A to telegram groups, and also not doing Q&As to telegram groups. The last update from the company wasn’t that long ago and gave an expectation of Q2 for the next update. What more do you expect from ME? I’m sure he’ll be front and center when news of BET is announced, probably taking loads of grief from critics asking why he’s giving so many interviews.
RKB - appreciate your response and hope you are keeping well!
Brew - that’s not exactly what was said in the video. The QBT software is uploaded to comply with client’s firmware.
Either way - it is better to wait for the next update from the company rather than wildly speculate in a negative manner about something you don’t have all the facts for
Brew - if you read the RNS you will see why the origin of the mining device manufacture is highly highly likely not to be Chinese in my opinion.
‘Due to the very specific, architectural choices in the Chinese manufacturer’s design of BM13XX chips along with no formal collaboration between QBT and the manufacturer, the Company first needed to understand the architecture of the chip and how to best implement Methods A and B’
So ask yourself how can they be live testing on a Bitmain rig with a Chinese chip when they’ve not managed to port to this yet?
If you read the RNS further down it does say the ‘Company is performing intensive live mining tests 24/7 using ASIC-based Bitcoin mining devices connected to two large mining pools’
Now back to the top of the RNS ‘The Company has, over the past nine months, entered into early-stage exploratory discussions, under Non-Disclosure Agreements (“NDA”), with two large mining rig manufacturers in China and North America’
So if they’re in discussions with a North American and Chinese rig manufacturers, and they’ve had challenges porting to the Chinese manufactured machine and chip, whose machine and chip do you think they’re using for live testing?
As for your comment on the firmware this makes no sense. The very reason QBT have designed the SaaS solution on servers is to protect their IP so that they didn’t have to deploy any firmware onto physical machines.
You are simply trying to peddle uncertainty which goes against the public information available. Why would you do that for your own investment?
Zen master, it might be worth reading the recent RNSs from the company again. In my opinion the news about Bitmain doesn’t in any way affect what the company is currently doing. They are live testing on a North American asic Bitcoin mining device in mining pools eg not Chinese manufactured Bitmain rigs who QBT have not yet reverse engineered the Chinese chip for porting.
There’s also the key difference between SaaS services (QBT) and firmware within rig manufactured hardware. Bad news for Mara but I suspect not for QBT. If anything all this news has done has removed one possible alternative available to large miners for making their mining more efficient. No more developing your own custom firmware upgrades. They’ll be looking for alternatives now which QBT are live testing now.
RKB - Hope you are keeping well - would really appreciate your thoughts on where QBT are as I know you’ve supported the company for a very long time.
There needs to be some consideration surely for the size of the task they’re trying to achieve here though and the resources they have. How many AIM minnows do people know who have hit every single target they say they will, never hit any roadblocks, haven’t had to change course at all? MOS have been trying to enter into industries that far bigger players have been dominating for a long time and in some of these endeavours have been reliant on external partners who haven’t always held up their end of the bargain. The company could have poured all their own meagre resources into marketing the NFTs and perhaps revenue would now be higher but we wouldn’t have this opportunity with BET and maybe the company would have been in cash flow trouble following this route.
Building a tech company is not an easy challenge, yes there’s been some false starts and things that haven’t gone now the company might have liked but the difficult all this can’t just be passed off.
If BET and TALK work out like we hope though, and MOS with live scores, it’s SaaS platform, and it’s NFT marketplace underpin this, then that is a major achievement for a UK AIM listed tech minnow regardless of what happened to get there.
It’s a difficult one because the performance of the SP has been undeniably poor to date, and individually all the ventures haven’t worked as stand alone concepts so far.
But…. The only way the company even has this latest opportunity is because of the acquisitions of Krunch, the acquisition of livescores, the NFT relationships with owners of Necaxa and Atlante, the partnership with Bitso, the development put into the software platform by MOS, none of it is wasted if this new venture works and in fact if the new venture works it will be precisely because of all these components that MOS have built. Quite simply why would any of these companies partner with MOS for BET if it was offering nothing? Its data platform is still extremely valuable to them.
It’s now or never though as eventually the progress has to translate to revenue and value.
Bet launch early Q2 so good time to be building a position
Brew - he doesnt confirm live testing is happening now. He says its the next step that is happening to show clients the difference between a mining rig with their emperors vs one without
We cannot know for sure but it appears that the OS compatibility has been somewhat of a barrier to testing and has caused QBT issues. The recent PRN says these have now been overcome so we be hopeful that testing can now occur and we will see these results. Perhaps QBT are a bit later than they thought they’d be but that does not mean we have had 24/7 testing on live machines for 3 months.
Brew - re your question on 3 months of live testing. Its just my opinion but I don’t think there has been 3 months of live testing. The recent PRN stated that QBT has only just cracked the compatibility of the operating system CGminer to work with their methods. This has allowed live testing to commence 24/7 on a bitcoin mining device in a mining pool. So it’s my view we’ve only had truly live testing since the release of that PRN and definitely not 3 months worth yet.
We await the results of these live tests from the company as FG said in his video, the next update should simply be whether a machine with method B on it mines quicker than a machine without method B.
RBM - does the CAG still see any hope in the efforts going towards preventing a cheap sale of the assets? Or is the class action now the primary focus for the CAG? Appreciate all the work you have done for
Shareholders as always.
Thanks very much City for your honest insight (and of course your substantial support for the company we are all invested in)
I don’t know ME personally but when he has looked to engage with investors there’s been accusations on here of him talking too much or ‘ramping’, when he doesn’t do investor presentations or interviews he’s accused of not communicating, I can’t see how he can win there. Frankly my experience of shady AIM CEOs is you don’t often see them front and centre if it’s all going to pot. ME fronting up the interview for BET and TALK was reassuring enough for me, equally his participation in the December placing and also the reward options for the BOD show their commitment tied to low salaries and the company commitment to cut cost (which it has significantly) quite simply these are not the actions of a lifestyle company. You also can’t open the doors to Bitso, WA technology, Pumas, EFC, Necaxa, Mexican fed, Cadiz, Panmure if you are a lifestyle CEO.
All stocks at this level have risk attached so the continuous moaning from some wanting a sure thing doesn’t hold much sway. We all want the SP to be higher but if this works then quite simply it will be.
City - would be interested in your views on how you see the NFT side of the company playing out
My view is they were maybe too early to it and the scaling costs etc. would have outpaced the revenue received putting the company in a tough position. There would also have had to be a huge marketing push which would have been difficult for MOS by itself.
The pivot towards BET and TALK however opens up some interesting opportunities. The platform is still there complete with wallet integration and Apple Pay for fiat purchases. Now though MOS essentially will not only have revenue from the data services being billed to Estadio Bet, but also the share of betting revenues? This will allow the company to become profitable and stable and potentially revisit the NFT opportunity.
Could we potentially see punters going to place a bet on a Mexican league game and being offered heroes experiences ?
There certainly seems to be an awful lot of proprietary value in the platform MOS have built that surely won’t just go to waste.
There’s also the role Bitso will play in all of this. I’m not certain how this will unfold but companies that size don’t just take wild punts of partnering with failing lifestyle companies. Neither do the owners of Necaxa, Pumas, Atlante, Cadiz.
My view is a jigsaw is being built here and maybe BET is the cornerstone that provides the revenue to unlock the potential of some of the previous pieces the company has worked on.
I know the trolls don’t deserve it but I’m sure genuine holders would be interested in views and opinions on how all this plays out.