Member Info for the_Chuz

@Amanensia
"so ... if they aren't worried, why should we be? Might mess up a few day traders I suppose."

Yes, if we hold for the long game, the difference is they should be able to make enough over a period of time that the share price for them becomes practically irrelevant. For us we can't do the same.

As a side note I was thinking the other day, are we not all traders? We think of ourselves as investors because we are investing in a company... But that company is solely dependant on the price of btc. We all hope that someone will be willing to pay more for btc then the price we have paid (indirectly).

It almost fits with greater fool theory, there is an element of uniqueness with argo of course with the defi angle and pluto.

@Amanensia, Jamsey

Yea I suppose it does help with free float, I was always under the impression though that most IIs hold for the longer term but then facilitated the shorting of the stock whilst collecting fees and pite tialky opening thier own shorts.

Maybe it's not as prolific as what I thought but that's basi ally how I thought they made money.. Doing just the long hold would be a waste of financial opportity

I genuinely don't see what the attraction of having II's but the stock.

At best they add stability, but we want significant growth not stability.

At worse they lend out they shares they buy so they can be short sold and take the price down.

Can anyone tell me the benifit of II's buying?

@MacF1

"How can they get away with writing such "reports"? It seem so unfair and out of order. They also seem to offer no avenue for questioning. Do "we" even know who the people are behind these Boatman reports?"

The problem is.. What's inaccurate in the report? Some. Elements maybe misleading a bit like the 1.5billion for 800mw but it's accurate.

The 40 million raised from the senior note issue was news to me as it shows there's not an appetite for arb notes even at 8 % which is concerning.

The land value has always been contentious.
The 100mil loan facility turned out to be duff.

So really what they have said is accurate.

@thechuz

"Riot will end no more than 5% down and in fact there is a 74% chance that it will end green.
It will bounce off 25"

Nailed it, bounced of 25, went green for a decent amount iof time but then ended 1.75% down.

Trust the compass scratching I say!

I was expecting around 10% down for argo but I think that boatman report stuck the boot in abit.

I've just read through the latest boatman 'view' on argo..

I actually agree with most of it but ironically not thier view on funding, which is the bit I'm concerned with. They are trotting out the 1.5 - 2 billion for texas, which although technically accurate is misleading.

There isn't any plan for 800mw, we can do the 200mw (transformers can go to 250mw).. That 200mw us more like 250 million dollars (depending on how it gets filled). So dilution yes but not the full 800mw worth.

What I didn't realise though is that the senior note sake was a bit if a flop only raising 40million, that's actually a concern if true when set at over 8%

@MonkeyTom

"The Chuz, out of interest what’s the issue you have with carbon credits?"

Its more that I have an issue with shareholder money (we don't know how much of it) being spent to 'go green' retrospectively so we can claim we are carbon positive for the last 2 years.

I don't like the falsehood of it, but I also don't think it was value to shareholders, I don't think it served any purpose. The money would of been better spent buying some rigs.

If it makes a jot of difference or even becomes a requirement somehow then the other miners can just buy carbon credits retrospectively so it's not even a unique selling point... I know I am in the minority with that line if thinking but I just saw it as wasted money that has come directly out of my pocket, same with the swimming pool, hated that too.

@flowerpot

"3 directors selling on the same day the day before the ATH at the end of feb , raises a few eyesbrows s"

I think it's a bit chicken and egg.. The ath was there so the directors sold.. That was a signal to the market to sell which cemented the ath and the ensuing drop.

My only real issue (other than not liking swimming pools and carbon credits) is the funding issue, other than that I think it's an OK company even if some things to look a little dodgy on the surface there's usually a good explanation for it.. Like the 5 million just sat with epic.. Seems odd but probably a sound explanation.

Saylor always talks it very well and sounds convincing but the whole "you Will lose 5% to inflation each year" kinda looks daft if you just lost 40% on your btc.

If it's all hodl all the time then its not a currency.

I think people need to panic less. It was always going to get battered today, yes mara and riot are either in the green or close to it but they are a differnt stock who have recently raised hundreds millions of dollars and have a funded public execution plan.. But..

They are just different, Argo took a pasting because it not so well known and probably didn't get hit so hard in the initial drops last week.

Nothing has Changed with argo as a company, it is just as unfunded and execution planless as it was at 140p so of you were happy to hold at that point you should be happy to hold now, I know it's easy for me to say when I sold out at 131p and had the standard mocking, but All miners got battered, nothing has fundamentally changed with the company.

If you had "faith" 2 weeks ago you should still be happy to hold now, if btc pops up so will argo at some point. Just sit it out.

@chaebol

"Going against a lot of my beliefs in btc now but at 37 bucks Mara, 25 bucks! riot I’ve gotta get involved."

My compass scratching says its going to bounce of 25.

Hope I'm not reading it upside down ha

@Canetoad

It would be no surprise to me if we see the US miners drop another 10-20% today.

Lookingnatbthe fan chart I've just written on my desk with a compass (yea old school)....

Riot will end no more than 5% down and in fact there is a 74% chance that it will end green.

I said 10% down.. But I thought it would be based around a duff rns.. Still got that to come haha.

And 13 eh by mid September year, I'm tempted to swap riot for mara

"No it’s an operating system, it’s worth checking out imo I’m not gonna shill on here and take up the board with non Argo stuff but worth a look!"

Oh, I didn't get that from an initial read, I'm going to look again.. I've used a quant search engine plenty of times and it's no where near as good as Google but I didn't know if its related at all.

Time for another looks.. Might as well talk about it here, same with qbt as there's nothing else to talk about with argo. Everything that is know has been talked to death.

BTC just shed another grand

Isn't quant just a gone wrong Tether (usdt)?

It has the functionality of tether but only part decentralised and removing annonimity?

I don't know too much about it but it sounds way too much how a sovireign currency would be implemntated and they will choose thier own rubbish like britcoin for that.

@bigwinner

"Hopefully PW will have ordered the new generation machines for us GLA."

With what money?

I think the concensus is/was that he will buy some used s17's and try them in immersion. If they want to buy new ones that are 40% more efficient then expect to pay for them, hundreds of millions dollara for 200mw worth.

It's why I keep banging on a out funding and being left behind in the hash race.

"BLU....admittedly more in QBT for mining improvements to the benefit of all miners"

Ironically if it Benifits all it Benifits no one.

Just like increasing hashrate equally amongst all miners, the outcome is exactly the same proportion of btc going to each miner.. Only the chip makers and supply a chain benifit. The actual losers are us the shareholders for paying for the dilution.

That's why it's a race, you have to get out in front to get that extra market share.

@herdie

"The Chuz, Why go down with a whimper when you can go down with a bang ;)"

If it has to be a drop then I prefer it to be a swift kick in the gonads rather than a death of a thousand cuts. I'm just curious now to see how much Im down on monday.

@herdi

You were only supposed to blow the bl00dy doors off