Member Info for the_Chuz

All really professional haha

Not quite the earth shattering operations update we were after.

Couldn't make it up, Shakespeare comedy of errors comes to mind.

Ironically they have now encapsulated the thoughts and put them into an official rns as forward looking statements which has a far greater reach than the tweat.

Hey Bobo, how's the circus doing hahahaha

"That Twitter thread was a lot more insightful than PWs monthly Q&A….."

I completely agree and to be honest it shows just how shocking PW great communication actually is. We shouldn't get more detail from a twitter post than from. RNS and the CEO when he is running monthly+ coms videos.

So the CFO also says it will cost over a billion to set up 800mw of rigs.

It was one of my arguments a while back for which I was called a troll and live in fantasy land. Turns out I (like others) was right.

As I've tried to say so many times, it's not about being negative it's about basing reasoned opinion on facts and just because though facts might not paint the pretty picture that people have invested in it doesn't mean the facts are wrong.

@Canetoad

Im always up for reading your posts and some challenge my way of thinking which is exactly the reason I post here.

It's a shame because there are some solid posters here but too many who are too quick to shout troll and yet lack any substance to thier posts other than "to the moon".

@kev

“ I think it's pretty obvious Argo team are just using the listings as a cash cow. I doubt they give two **** if share price crash after all they are minning for themselves right???”

"Kev - Utters cods. Into the green box with you. You had a good chance to buy in this morning and you blew it."

Umm Kev, what do you think listing a company is for? It is to raise funds, the Argo team are using the listing as a cash cow, that is what the listing is there for, from PWs own mouth the nasdaq listing was for greater access to capital.

I'm not sure how what misterbek has said can be "cods" when that element is fact.

After not caring about the share price, that's subjective and I very much doubt they do care about it as it is a means to raise capital that's all. The current price is of no use to company, I. E. The company gets no revenue from shares being traded. They only get money via listings, loans or selling btc.

To many delusional people here who think that the company is amazing when it's clearly not, if you look at the interest in it compare to other miners then at best it's average, but more under average at the moment.

I always see those high loan facility as a bit of smoke and mirror.

If I wanted to grow the company I would..

Announce loan facility (no intention of using it).
Place orders for rigs with the 'ability to pay' being the loan.
Announce to the market the new rigs which increase the share price as it is assume the loan will be used.
Do a share issue to raise capital to pay for rigs.

There are variations of that but that's what I would use a 100 million loan facility for.

As far as I'm aware we never got to hear any details about it such as how much deposit, what are the terms, when does the offer expire, what can it be used for.

So for me it's a bit pretend.

@MacF1

"40 days of quiet period, you’d think PW would be shouting so much now we’d be sick of it all. But they’re quiet as mice."

Im not sure the quiet period has much of an effect, after Hexams reply to one of my post regarding the quiet period it was then clear that during the quiet period argo have

Created a promotional video
Held a significant promotional event along with local resident Qand A
Release information on new order of rigs
Given monthly op update.

There arnt many other categories that the quiet period can enforce and since we did all that during the quiet period I think it's a red herring.

Maybe there just isn't any news, "the team are sorting out Helios"

Im so glad we have the "best" people who need financially rewarding as "top talent".

I'll be looking at reducing down some more today I think.

@600

"@the_Chuz, please explain how you arrive at 246,000 rigs as that appears to be pure fantasy land. Also, what rigs can you buy for £4k today?"

Looks like my reply didn't post.

It's 30k machines for 100mw power use so 800mw is 8*30k = 240k machines.

£4k for a machine is what I've used for a few months, if it is now higher then expect the cost to kit out 800mw.to be well over a billion pounds just for rigs.

We don't have that sort of money so I'm not sure your comparison to MWs works

As a follow on for 200mw of power we will need over 60,000 rigs at around a cost of quart of a billion.

We all done the calcs inThe past on here

"Well I am already in profit (small) on todays HUT purchase."

So that's 3 of us which unloaded some today and all bought different miners, hut, bitfarm and riot. Each one of us are in profit.

Just shows how badly argo is performing. I wonder if any of those 3 built thier local residents a swimming pool.

@600

"Argo has 45 MW with 1.075 EH and new machines currently being installed raising our EH to 1.7. Then we have 200 MW (Phase 1 at Helios) plus 600MW (Phase 2 at Helios) = 845 MW giving us 94 MW more than RIOT."

Thats OK in theory but just think of the numbers involve, firstly the quantity of rigs needed for 800mw..

246,000 rigs @ £4k each = £984 million.

I just can't see that happening, firstly due to the rig shortage issue whereby we are delayed for a much smaller qty of rigs but then secondly the sheer cost of it, basically 1billion quid.

By the time argo gets going the race will be done, the halving would of happened and the other miners would be even further ahead.

To assume the other miners will stand still why argo tries to fund and buy 250k rigs is just not plausable.

"At a quick glance Riot is just over twice the size of ARB but MC is 4 times that of ARB.
This will level up soon"

It's not really peril if it goes up as I'd imagine the posters still hold some share, even then it's not peril. The peril of missed profit has already happened.

ARB just inst performing and even if it now goes up 50% it will just about take us to where we would of been if we just bought btc and avoided all the risk of arb

"Good luck in RIOT, Chuz."

Just gone into profit after a couple of hours which is nice. I might end up dropping to just 10% Argo as it feels like a weight has been lifted ha

"It is r.a.c.i.s.t to stereotype an entire country as only a bunch of criminals. And then use that assumption to try to smear the CEO of a company because he lived there."

Surely that only applies if they are a different race.

I prefer the term xenophobic, much better catch all.

Well, that feels much better I'm now down to just 30% holding of Argo which actually still seems like quite alot now I've sold down.

I would expect there to be an amazing rns now tomorrow which sends it to the moon as is usually my timing but atleast now I can focus on other shares (just bought RIOT, so I need to have a look for others too).

Well done Argo, you turned a 100% fully invested investor I to sour grapes... I think the swimming pool before rigs was the final straw for me. So now, onwards and upwards, quarters and years but with differnt stock.

@Theduke

"@Chuz Should have gone with my tip last night with (BLU) Blue star capital"

As tempting as it was the 15% spread and the 4.5 billion shares in issue (shows how they survive to me) kinda put me off. I used to play with the sub pennies but was way to hit and miss (95% miss)

@johnpon

"I understand people are frustrated ... I really do understand ... but the negativity here is a self-fulfilling prophecy. Complaining, speculating about some doomsday event, etc."

For me it's not speculation on a doomsday that might happen. It is about what HAS happened. We missed the great btc spike up, we've missed deadlines, we have a lot of grey areas and we've refurb a swimming pool.

Way too much Jam tomorrow and for all the communication that's done by PW and the team Im none the wiser just know about stuff I don't like.

"I think it's time to swap some of my ARB for RIOT, which is the other undervalued miner right now, but is showing more signs of waking up. Let's see if I can bring myself to do it when the US opens."

That's exactly what I'm thinking, Riot and 1 other.

Well.. I've started to reduce ill do it in stages, just did the first tranche of about £30k but have plenty more to offload.

That should now be a signal for the share price to rocket up. Atleast I am now no longer 100% all in and have a bit of wiggle room, I'll drop some more later until I am more comfortable.

Well done PW and team have managed to take someone who had full confidence in Argo 6 months ago and turn them into someone who just doesn't believe in the BS anymore.

@limpalong

" @the_chuz, you promised you were done……"

For that evening yes, I'm not gou g to stop posting on a message board because of a few deranged posters who like to shout 'troll'.