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" fix swimming pools"
That still annoys me ha..
Riot employees around 600 locals in a couple of counties, it's an ongoing win /win that builds co-dependancy and a shared need for the company to succeed in the area.
We pay for the local swimming pool to be fixed using money that has been raised from shareholders. That gives a one off event, which may also need revisiting in the future, if the county didn't prioritise the maintenance of the swimming pool then why will they now.
How long will that swimming pool good will last before the locals want something else in return for thier ongoing support. Who's going to be picking up the pool maintenance bill in the future.
Just a rubbish publicity stunt that bought some local support for a short period of time.
I know in the grand scheme of things it's nothing and it shouldn't bother me a fraction of what it does but it actually just annoys me..
And. Yes I know, make like Elsa and " let it go" ha
@Hexam
"Selling to keep the lights on is a good thing in my view but the slightly concerning thing is that are selling at a loss which suggests perhaps they are doing it more out of necessity than choice?"
I had that moment of concern when I was looking into microstrategy and thought if they ever became a distressed seller it's a one way ticket downwards and I'm not sure how btc would recover (more the time frame for recover).
I'm not sure how the accounting works for miners, it all seems a bit grey. But If I made a decision to sell some I would always sell the most expensive first and take a loss so I could use that to offset a tax bill.
It's all pretty murky though
@famaga
"Being red doesn't mean lower than the opening price. It means lower than the previous close (which was 10.40 in the case of ARBK). ARBK's lowest price today was 10.46 so it wasn't red at any point today (so far)"
Odd, that's not how I judge things going in the red, if a share opens at 100p and falls 5% throughout the day I would say its in the red. I wouldn't say its green because the previous close was 94p.
If it's red on my screen then I would call it " in the red".
But that makes an interesting point, there can be two differnt understandings of what is meant, it doesn't mean that someone should start with "lies, fud, derampers" etc.
"ARBKF never went red today, stop telling porkies. Some on here are that desperate, they are resorting to lies."
Urrrghh its hard work on here... ARBK opened at 10.72 and the day low was 10.46, that means it went red.
I don't know about ARBKF and I can't even be bothered to tap it into my phone to have a look.
Too many people here are just wrong about about things but proclaim it's everyone else with the issue or fudding.
@Hexam
"(unless a big JV is in the offing)"
Now that to me is the curve ball that will have a very positive impact on the share price (otherwise I wouldn't hold any shares right at this point).
PW has said he's not keen on a JV, but if needs must this could be very profitable and create a share price explosion here
"Hut and Mara up 11.5% today and almost the same yesterday and ARB up a feeble 3.8% after BTC almost gains 10% in 24 hours."
Unfortunatly there is an odd in PW we trust mentality on these boards, the rest of the market doesn't see it the same as the perpetual positive people on here...
Although the company is amateur in its approach and rns delivery its not a bad company so why wouldn't the share price be gaining like the other miners?.. For me it's just the funding side of things, once that is known the brakes can come off...
Funding... Just saying like :)
I think it will be done with a share issue BUT it depends at what point.
If it was me I would get a loan on bad terms if needs be, then announce that the loan will be used to pay for all the machines, then when the shareprice shoots up because of it I would do a share issue to pay off the loan in full.
To me that's the most sensible way but there are costs and penalties involved in doing that.
Or of course just issue loads of new shares, it will hurt existing holders but who cares, new shareholders would jump in after the dilution, leaving existing shareholders to hold the bag (like they have for the nasdaq IPO and Helios build)... But, it's clean, it raises the money needed and doesn't put any debt on the balance sheet.
PW has already said that the next raise will be kinder to existing holders and give them the option to buy discounted shares to lesson the dilution blow... You know, because its not fair that the big boys get the discount all the time. Uh hu.
PW is here to grow the company not to avoid dilution to shareholders.. Especially when it should be massively obvious a dilution is coming.
"Watch how the_chuz comes out with loads of unsubstantiated bs. ;-)"
Whats unsubstantiated bs on my part? To the contrary I usually substantiate pretty much everything I put, at minimum I put my thought process.
I said 20% less mined - how is that unsubstantiated.. It was in the rns
I said 74% efficiency - how is that unsubstantiated.. It was in the RNS.
It is not me that comes out with unsubstantiated BS, it's those who even when faced with undeniable fact that still say no to it when it doesn't fit thier frame of mind.
Basically another rubbish rns
20% down on mined btc
74% effeciency.. You know the thing that some on here bang on about as special to argo.
And they have laid the foundations for 2022 growth... Nonsense.. That's the stuff I stick. In reports when I havn't done anything except had a coffee with the team
"and he has missed out on cheap shares."
Again more signs of crazy, I already hold as many argo shares as I'm going to until the funding is sorted out.
You do state though that I have missed out on cheap shares? Does that mean you find the shareprice today high or just fair value? Obviously if its high you should be selling around now and if its fiar value then what's the rush to buy.
If anyone looking to buy now have "missed out on cheap shares" then why buy?
@dyfan
"Any way to spread FUD you somehow manage to do so the_Chuz. This interview is so clearly a W for Argo and I believe that genuine shareholders should be excited for the next chapter."
Just because you don't like it doesn't make it FUD, why not Google O leary and Cameo.
For a couple of grand he will endorse or do shout outs. You supply the 250 characters and he puts the sentence together.
I have no interest in what he says about anything.
Isn't o leary the guy who will pretty much endorse anything if you pay him, I don't mean that slanderous, I mean that as a genuine income stream fir him, you can book him to say stuff fir a price.
@limpalong
"Chuz, So in a nutshell you have issues with btc itself? I would humbly suggest that this definitely is not the space for you to be in if that is indeed the case, and that is meant in the most sincerest sense."
I am growing an issue with the mechanics of bitcoin with its never ending need for power and chips and vast sums of money to actually make the network work.
If the world used btc as its default currency then how many btc would be needed in the future to mine a btc, might sound like a daft question and it's obviously dependant on price but does the whole game only work if you use fiat to buy stuff to generate btc?
Although I am growing an issue with btc I'm not agsinst it, I am getting more of an issue with the futility of the race and just how much resource it consumes just for a miner to stand still.
Proof of stake surely must be the way forwards.
@limpalong
I can live in a house, I can play a game, I can use a washing machine, I can use commodities to make things, I can eat Lean hogs etc
What I can't do is spend btc that is hodl and considering btc is potentially a currency in its infancy then it is a currency that can't be spent, like a washing machine that can't be used, a house that can't be lived in, a commodity that cannot be transformed.
Of course if btc isn't a currency in the making and it is just a new asset class that people just have to believe in and never spend (or use for transactions) then what's the point. Just a massive resource drain.
@limpalong
"Isn’t that the same for any share? (Unless you are short) I mean it was nice to give everyone a reminder, but I’m not sure what other purpose your post serves?"
Kind of but no. Obviously there are dividend paying shares which arnt the same but ignore them as its a given.
Most other companies will increase thier company value by selling goods or services crypto miners don't, they raise billions and hodl, so if btc went to zero, which is outside of the miners control then the company would be bust over night and all the billions that were spent would just be gone into worthlessness, except for some sheds of course.
If my company made washing machines but refused to sell them iI wouldn't expect to be in business long, if I wrote code but refused to sell the games I wouldn't be arou d for long.
So to me it's not the same, the crypto miners are spelling hundreds of billions to hodl because in the future they are hoping it to be worth more.
@Hexam
"In any event, it's a big, bold move which could pay off big time...or could blow up spectacularly in their face."
Yes the partially share funded part might make. It a bit scary for the balance on the accounts, could be interesting.
The numiner rig seems interesting as it's 4 x the output of a s19 but then it's also around 3x the power (nearly 9kw per rig ouch). So from a headline point of view its striking to say 440 th. But then it's. The power req of 3 s19 pros.
I have to admit I'm quite dubious about it and I'm thinking that once due diligence has been done in June on the test machines it will fall through
@tiger
"Regardless of hashrate, these rigs are costing them $1.7 billion dollars. That's a lot of Bitcoin to mine before you go into profit !!"
The notion of profit is kind of pointless.. If it was all paid for by shares then its free money. The company doesn't carry the burden it takes the money from the share issue and spends it, the share price after is irrelevant until the next raise.
It doesn't pay a dividend, it doesn't give. A return to investors (except grater fool increase), it doesn't sell the btc produced.
The company doesn't earn the share raise money, its just free money, so having 1.7 billion of machines for free works well for the company, share holders buy the machines for the colpany with zero return except for the hope that someone will now be willing to pay more for thier share than than they did originally.
@Caddor
"Funny how you guys and gals havnt filtered chuz and chable. Every time there is logical dialogue I can see how the thought process is turned and deflected as with any paid basher or disgruntled former shareholder would do.
If you see a sign that painted red and everyone agrees, the end of the conversation will be turned to how crooked the sign is and the paint is old and weathered and will be removed. Just deflection on logical valuable dialogue. Some folks will say these guys are needed, and I just laugh. Even if they reply to me, heck i dont know what they say nor do i care"
You critisize others for having an opposing view and yet that whole post of yours added absolutely zero to the conversation, not even a point of debate. Literally nothing added.
@limpalong
"And it is for that very reason that I am eternally grateful that PW running the show and not you."
Thing is, I know I'm right and you will also know I'm right when it happens, I just hope that when the time comes people have the integrity to admit that they were wrong and not pretend like they knew it was going to happen all along.
As Argo Bull has said though, time will tell and its the only way you will know for sure.