Member Info for the_Chuz

@calamari

Evwn cnbc says its gone up 400% in a year and that was last october?

https://www.google.com/amp/s/www.cnbc.com/amp/2021/10/05/gas-price-surges-to-a-record-high-in-europe-on-supply-concerns-.html

@calamari

I don't follow gas/oil these days, I should, it seems I'm always in the wrong market at the wrong time but.. I was hearing on the news a few weeks back that prices has quadroupled.

Looking at a UK gas price chart I can see in the last few months it's gone from 50p ish a therm to 450p ish a therm. So x5 seems right to me???

@Canetoad

We just need Mr putin to get nord 2 over the line and the energy costs will plummet.

Maybe a new reactor or two as well.

"aldebran - your last sentence is ignorant. why would any company "shut down", if they are still making money...? You do know what the ARB BTC "break-even" price is ? Even at 30k BTC, Argo would be doing very well."

To out it into perspective, I am still mining ETH even though its been properly battered recently too and my electric costs are 26 cents instead of 2 cents.

I am still profitable so the rigs will stay on, in fact I would run them at breakeven, during winter I would run the at a loss due to offset heating costs.

But right now, even with the damage thats been done to the eth price and my electric costs of 10x argo I am still profitable so no way they get turned off

@windows345

"Please post this chart, i am fascinated
I am definitely missing something with this one
The chart i have of bitcoin looks horrible, if 40K breaks lower i have a weak support line at 37,500 from 4 aug
if that breaks i have a trap door down to 30 K"

Yep that's exactly how most are seeing it if it breaks 40k we are done for (for a short period of time). Fortunately 40k is holding up but we keep having staged pull downs. If one is big enough to take us under 40k I would expect an avalanche of auto sells, at that point turn off for 3 to 6 months.

Hopefully though we will see a decent whale uptick instead which will create a bit of FOMO to atleast put us back to high 40s.

Who knows though..

Those 5 points are the least of its worries if btc just keeps going down.

40,800 now.. I supposed there's not much chance of my 45k this weekend.

@limpalong

"With respect thats a bit nieve, we have to raise money for what we have on order…”
If you are worried that much at which point do you invest? You in for the 200MW build out? 400, 600, full 800MW? You could sit worrying about raises forever and never invest anywhere."

To be honest that's very true.

My only reasoning would be, I want to know about the rigs for that first 200mw as I think it will be a" company making" event along with the financing to suit a company making event.

The other 600mw is pretty irrelevant to me because it won't be happening for a long long time

@limpalong
"@Chuz, Ok you have given your best guess. Personally I’ll work with fact rather than conjecture and the information in the public domain are the only facts we have. Using the term “it’s going to hurt” is a bit dramatic, cool heads prevail. Let’s see what the future holds here, I’m very optimistic."

With respect thats a bit nieve, we have to raise money for what we have on order, we have 3 ways of doing it according to PW

Sell btc - possible but wouldn't have enough and would have a negative impact on the company

Get a loan - unlikely to be able to get a large enough loan even on bad terms that wouldalso have a negative impact on the company.

Do a share issue - gets the money we need with no future debt burden and keeps our hodl, doesn't hurt the company just hammers existing shareholders but the new share holders will love it.

A share raise will strengthen the company and put it in a strong position, the ONLY downside is making bagholders out of existing shareholders but as you have said yourself.. That's the nature of the beast.

I would prefer to put more money in After so for a change I can be in the right side of a dilution and be one of the happy NEW investers

@Argobull

"Yeah this board is a joke and I'm half tempted to go off to the discord. 90% traders that talk the company down in the hope they get a better entry price. I mean how much of a better entry price do they want?"

I really don't think any one is trying to talk it down, it was be a waste of typing, there's not going to be much if anything that is said on here that will change shareprice of a ftse and nasdaq listed company.

Even the company fundentals in this business don't have anywhere near the effect as the price of btc.

No one can talk it down, btc goes down, argo goes down, btc goes up Argo will go up.

As said many many times, if I believed that even 1% of what I put on here had any effect on argos price I would ramp the hell out of it and make it my day job to do so.

@limpalong

We do not have current figures because unlike other miners argo do not give them out but if I use other miners figures then here's my thoughts.

20,000 s19s on order with a unknown deposit paid.. Let's say its 35% like riot did so the equivilant of 13,000 machines to pay for.

Riot are paying 11,000 per machine, let's say argo are going for the model under and pay 9,000 per machine

That's 9000*13000 = $117 million left to pay JUST for the machines we have on order.

In an ideal world we would wait for a btc rise but we will run out of time (maybe). These machines are due to be shipped and paid for in installments.

That's only the ones we have on order and account for 64mw of the 200mw planned.

It's going to hurt.

@limpalong

"but otherwise I don’t see much downside here at present."

Apart from the niggles (and of course btc price) the only real downside I see here is the financing, I can see atleast a 20% drop when the financing is announced.. Once that is done though and we know how we are goj g to afford a few hundred million dollars of rigs then the company should be attractive.

The home made immersion is a risk
The competition is also a big risk of they can increase thier hashrate way higher than Argo, it will take away thier market share.

Theres no doubt in my mind though that argo will remain profitable.

@limpalong

"Worth a look for those genuinely interested in ARB, it’s going to be a fantastic facility!.."

Ita good that's its water tight but ultimately its just a prefab shell, I know people get excited with its size but at the end of the day the building itself isn't architecturally impressive in any way. Its a low budget hanger type construction (and that's exactly all it needs to be so I'm not knocking it).

I work in aerospace and have been inside many massive aircraft hangers used for assembly aircraft (such as the airbus a380). I've been to several military bases too which have never ending hangers (vehicle depots in particular) So I am definatly less impressed about the building than most seem to be.

As I've said I'm not knocking it at all because it's built how it should be I. E. Low cost boring design pre fab.

You really can't tell that it will be a fantastic facility just by a pre fab shell. Lets wait until we know how effective the immersion system works. Otherwise it's a shed with off the shelf miningrigs connects which most teenagers could do.

The immersion will be the defining factor for me, in particular its reliability.

"Butcoin making a huge double top and countries banning it"

More banning minning than the ownership of BTC.

It will be interesting to see if the reduction in price will lead to a reduction in network difficulty, if it does in any meaningful way then obviously that might be good for us.

I can't see any miner that has invested millions (or billions) just switching off though because the btc price is lower. Maybe it will slower the difficulty growth but it takes a ban to have an affect, in then its short lived.

@hexam
."..but at least those "amatures" got their spelling correct ;)"

Dammit!

Amateur amateur amateur amateur amateur..

My defence?... My previous life was electrochemistry and part of that was designing educator solutions (fluid transfer and heating/cooling systems for removing heat away from something generating a few KWs of heat output. (of course no where near as good as Perry, I only spent 10 years doing it).. In the early day I always had issues with certain motors that transfered fluid through the venturi nozzles.. 90% of the time it was the "armatures" that stopped rotating for various reasons (typically overheating of the windings if anyone cares ha)

I will never be able to spell amateur properly without thinking about how to spell it.. It will always be amature.

Most of the time I make typos on here just from bashing it into my phone but certain words are just programmed wrong ha.

That's my excuse for being illiterate anyways.

Unfortunatly the team make themselves look like amatures. Keeps happening, they don't seem to be able to "do numbers" or not disclose information they shouldn't.

Just amature

Reminds me of the happy slapping craze (thankyou tango), when ever btc tries to move back up it gets happy slapped and slides back down.

I'm still goi g for 45k this weekend... Unless the powers that be release some damaging news

@boraki

Interesting use of the word wobble, its vertically down haha :)

@flowerpot

"Thats not going to go down well"

Yea I know haha, it just does my head in abit when "troll" gets banded around when what they are saying has been proven to be mostly accurate many times.

No one gets it all right all of the time but I would prefer to listen to the mostly right alot of the time rather than the always wrong most of the time.

I actually don't have an issue with someone being wrong all the time (makes for good reading) but there is ridiculous hipocrisy in the mostly wrong all the timers shouting out "troll" to those who have been right.

Don't worry, I know it's green box and naughty step for me.. I'll serve my time..

Just catching up on today's happenings..

K3V.. You might not like it but you really are way more trolling than Chaebol it's a constant.. "don't listen to the trolls and I know who I'd believe" from you.

The fact is, Chaebol has been wayyyy more accurate with his share price prediction than pretty much anything you've said for the last 6 months atleast.

There is no point just shouting "troll" all the time when what the person is saying has been proven to be pretty accurate time and time again.

If anything the constant pitch of "pluto" will save us and "green box" nonsense is alot more trolling.. Wasn't it just the other day you were 'sat on the board' almost by yourself because of everyone you have filtered but the fact is you have been wrong on the share price for a long time.

Pre IPO you were hammering it home about how the IPO shares would be at a premium to the share price at the time. The stuff you post mainly gets proven to be wrong., so stick with the green boxes.

I for one want to read what Chaebol has put because although it maybe against what I want to happen he has proven to be right (along with other like CaneToad) in the way that the market and shareprice was likely to go.

In all fairness they are some good figures, hopefully the market will receive them well. Bad timing with btc price but that's outside of the companies control so they are doing what the need to do.