Member Info for the_Chuz

@Amanensia,

"Back of a fag packet calcs suggest $200m for 5.3EH would pay for itself in well under six months."

Yes, even at base level of 4 eh its a good return at today's hashrate (obviously won't be that good when we are ready)

My issue is, and has been for some.. Who's going to pay for the 200 million that we don't have.

We were bag holders for the building, is don't want to be in the same position (maybe worse) for the machines.

@Argobull

"So if it completes successfully, hopefully we'll get some news coming in the next week or two. I would be very happy with s17's provided they were the right price - top price for bulk quantities of these these seems to be USD2000 - I would like to think they could get them for <1500 each."

Just keep in mind we need 80,000 of these machines doe 200mw and they run at half the hashrate of a s19 (lower wattage though)

80,000 machines at 53th = 4.2 eh maybe with 25% oc so 5.3 eh for £120 million (200 million usd) ... More than was raised in the IPO

It is way better than having a empty building but doesn't come for free.

Here you go.. Here's a positive outlook for you, which I don't believe for many reasons from supply, financing through to overclock but I'm sure you guys will like this.

Issue £250 million worth senior notes.
Buy 60k S19 and fill the 200mw of immersion
Overclock by 50%

That should get us to 9eh for Helios
Add our 1.7eh and that's now 10.7 eh for argo.

Pretend we have 600mw of capacity infrastructure in place (for free) then host other mining machines and take a 20% free carry for another 6eh

That would give us an easy 17eh and we would beat Mara and be Kings of crypto!

Yes!

Let the positivity flow... Oooo ahhh eeee.

@JayBike

Yea to be honest it wasn't a good analogy hence my follow up post.

S17s will still cost over 120 million gbp minimum and even with over clock still won't have the hashrate of s19s.

Unfortunatly due to the game we're in as the global hashrate increases you need to increase just to stay where you are today.

If other miners are aggressively increasing thier hash rate such as maras 13eh by June 2022 we need to increase proportionally to get the amount of btc.

Mara is well a head of the game and Riot is also expanding, riot will most likely achieve immersion mining before Argo.

Think of it in percentage of global hash rate, if we start recycling S17s in immersion and riot (with thier known funding plan) are using s19s in immersion then the race is lost.

As pointed out previously, it's not about being the best to be profitable but if we don't atleast keep up with an increasing global hashrate increase we won't generate the same btc.

It's why I'm against having a world class brand facility and putting in old tech.

@MonekyTom

Careful now, you'll get painted with a troll brush and have a pitch folk chasing you haha.

Yes as an overview it's perfectly fine and I think that's the intent from the author, I just know how folk seem to latch on to things like that and turn it into something it's not.

In my opinion the thing that's holding us back is that everyone knows that if we put decent rigs into Helios for 200mw it's going to cost around 250million usd which we don't have.. I think a lot of people are concerned with being a bag holder.

If PW would just tell the market how it is to be financed and an order is placed we can move on from it and grow.

For clarity on my previous post, I do not disagree for one minute that Argo looks undervalued, it is why I am invested here.

My issue comes from people do a comparison that will mislead newbs but showing that mara is valued at 10 times more than Argo and they are not too different.

They are fundementaly different on finances and no one should expect it to go to maras market cap or anywhere near with what's known today.

Mara hold over 7500 btc
Mara will have over 13 EH running by June 22.
Mara has a known deployment plan with visible costings such as thier 30k s19s for 120 million usd (August).

Argo massively lower hodl
Argo has a massively lower hashrate.
Argo does not have a clear financing plan, or even hashrate plan that is known to shareholders. What will our hashrate be when heios 200mw is kitted out? No one knows because we don't know what's going into it. How much will Helios rigs cost, no one knows, how will it be financed, no one knows.

They are not a good comparrisio to do on valuations and Definatly not wise to say they are not that different and put up the x10 valuation of mara.

I don't for one minute believe the author is trying to mislead as they are his own thoughts an opinions. I just know that many people will read it and then make thier judgements based on it.. And worse still.. refer to it here for reasons why argo will moonshot.

I'm not sure the article says too much, the first section is what a lot of us have been saying, I. E. It's been a disappointment.

The second second looks at its valuation and compared it to mara and says its not too dissimilar except fir hold and hashrate and aggressive increase plan from mara but its 10x more on valuation.

That's a pretty naive thing to say as that's what's it's all about, hodl, hashrate and plan, especially financing plan of which there is no mention how argo plans to magic up 200mw of machines.

If there was company A) 1 million in the bank, generates 1 million month and has a solid business plan. Company B) 1000 quid in the bank generating 10k a mo th with an un known business plan then which one would you value higher.

We could compare company A and B and say they both make and sell cakes. One is a home business the other is Warburtons.. Both are cake makers that sell to the public but to say they are not too dissimilar is a but daft.

I can only see 2 sections, is there more to it somewhere via subscription or something as I don't see how that tells us anything we don't already know, in fact most of us know alit more than its covering??

"Trust me - if something comes along that can hack BTC, then Bitcoin and a few share prices will be the least of our worries."

Actually, of course yea, if its capable of hacking btc then as you say pretty much game over for all encryption stuff.

I shall worry not..

@Chaebol

What scares me with hodls with the miners is some kind of super computer comes along and hacks them, especially things like quantum computers and the AI coming along these days. I really didn’t enjoy reading the risks in mining hodls the last few days ;(

Thats more.my issue, if something like quantum manages to somehow find a way of getting keys or even just messing up and disrupting the process then it could be game over.

Then I think what would be the point, if youve done that then you have stolen something that will now be worthless (of course there's ways of monetising that).. And then I think.. Yea but a soveign nation.. Let's take China.. Think of the carnage they could create and be relatively unhurt..

Now, I am pretty sure that there's is a much higher chance than being dying from being hit in the head by a cricket ball (I don't play cricket) but still these are my type of pondering as I fall gently to sleep. :)

I don't buy into the crypto religion, I think it's pretty cool but I just want to make money, to me that means seeing the balance increase of my bank account, which is fiat :)

I honestly think it's time for our CFO to find new and exciting projects.

@Monkeytom
"
What is your opinion on the next halving? Do you think it will have a similar affect as last time, or are you in the camp of BTC has mainly outgrown the cycle and will continue its trajectory, although still being volatile, but becoming less so over time?"

Worlds most dull answer Unfortunatly, I'm undecided on either, a bit of me thinks it's outgrown the cycle but that makes me think we are in a bubble (I. E. New paradigm shift and all the reasons why it's different this time).

I hope for stable growth, not the silly gains and volatility we currently have so a crypto winter I think would do btc well for adoption as a currency.

I keep having a fear piece kick in to which spells the end of btc via a massive hack and makes it all worthless and people can look back and laugh at all the bubble mania folk that thought it was in some way sensible ha.

I also think there is a high probability that ETH will lead the way.

**"except the critisism"

@Caddor

"Funny how Chaeble and Chuz continuously downtalk Argo. and speak to the investment they have mad on Mara and Riot, yet they dont post on the boards they have an interest in. They spend countless hours her and some here are even stupid enough to defend them."

On the same note,. I find it funny how some posters on her like to continually critisize others and provoke person attacks on people and yet do not spend any time talking about anything crypto related.

Surely talking about crypto and miners is better than only ever contributing how you don't like certain posters.

I wouldn't mind at all if it was a case of "look chuz your a moron, all your figures are well out, here's the actual calc" or "Chuz, what your saying is nonsense because of xyz".

But no, it's a constant criticism of the people posting there thier thoughts an opinion on crypto whilst offering nothing except the crypto.... Crazy really.

"The best part….. btc goes up, riot goes up."

Yea, and to be honest thsts all I've really wanted ha.

ARBK down 4.5%
RIOT up 8%

No matter what noise is said on here, the numbers speak louder.

I just hope Argoncan actually get moving st some point, I don't even think it's because it's bad, it's just some of the nasdaq miners are wayyy better

@Chaebol

"They’ve executed biz plans excellently thus far."

Yes they seem to eb delivering on what they set out to do and ironically I find them tonnes more transparent than Argo even though PW seems to pride himself on transparency and communication..

"RIOT @ $60 will do me very nicely."

I can see it doing more than that this year, bags of potential and plenty of eyes on it.. Funding is know, future predicted hashrate is known, plan is known, strategy is known.

I must admit if I didn't think argo was so underpriced (depending on how it will fund 200mw) then I would of sold out completely as there are just other miners who are managed and perform more inlone with how Im comfortable with them running. (no swimming pools, bbqs with locals or spending buying retrospectively buying ourselves green).

Unfortunatly with argo, funding is not known, future hashrate isn't known because we don't know what will go in, future plan isnt transparent and the strategy is based around 'smart growth' which has cost us very dearly as btc doubled and we've done nothing.

The only thing to keep me here (other than the great company on this message board) is that I make it undervalued by my own calcs.

@Canetoad

Me to, just holding arb and riot.. Monday is earnings report for riot.. It has the potential to move significantly either way

"I'm actually really hoping we go down the s17 route. I reckon they can get a boatload dirt cheap and fill up the remainder of the 200mw"

Have you done the maths on S17s?

I made it about 120million I think for 80,000 machines.

The s17 has about half the hashrate of a s19.. Even with overclock they won't come near a s19.

£120 million was based on buying a s17 for £1500 which I'm not sure is realistic, so most likely a lot more than 120 mil for 200mw

Happy to be proven wrong though?

"the-chuz.
Incredible that you think your opinion could burst people’s bubbles, maybe a slightly
inflated view of your importance !"

But I'm told it does by people here!

I'm not engaging in "theChuz show" anymore tonight

@limpalong

"so you are perpetually and have to make a conscious decision not to upset people, blimey you must be a great laugh on a night out! Lmfao"

I am genuinely not here to wind people up or troll or go out of my way to annoy people, I don't think the same can be said for many of those who accuse me of such things.

I know my views arnt shared with some posters on here so yes, yesterday in particular I just let it lie, I'm not here to pop people's fun or to make them feel 'bad'... Think of it as letting the dog have its day... Or if that doesn't make sense to you, think of the opposite.. Me being all happy and joking at a funeral, sometimes we all make conscious decisions on our impacts to others.