Member Info for the_Chuz

I think alot if folks are waiting fir the 28.3k or 27.5k retest.

Once we have had the pullback then I believe it's lift off time.. I'm personally waiting for the 28.3k then all in on the US miners

"If tomorrow, next week, next month or next year bitcoin goes to 50,000,00 or 60,000,00 USD. ARB will shoot back over £1 to £2 will it not? “

There is always a small chance that the market cap would get back to where it was (even that is unlikely) but there was need to be a massive issue of shares and debt to get there... Which means you will never likely see 100p again..

There is no reason to think that this stock should ever get to half a billion market cap (100p), it has a poor management team, poor assets, poor hodl, limited future.

It played it's big card getting listed on nasdaq and Building Helios.. It didn't work, the debt was managed poorly.

It's dead on its feet and I don't believe it will be around after the halving, that being said, you might make a few quid getting in and out at the right time but do not expect to retire on it.

"Let's say hypothetically Argo were somehow able to issue another 400M shares for £40m, how much hash would that actually add? I think S19 XPs currently cost around $32/£26/TH so £40m would buy Argo about 1.5EH/s?"

It's for that reason I just can't see a future for Argo, it may do a pump with btc but it will get priced out, it just can't compete anymore.

The only way forwards is a change of business model, wouldn't suprise me if they somehow jump on the AI bandwagon, but whatever they do it needs to change its current game plan.

"55

BTC Sitting in very positive trend territory just before the weekend nice position to buy into now for Monday open! 💼 💰 IMHO GLA"

Its weird how we all perceive things differently, I see btc being in a quite precarious position right now, lower lows being formed in the trading range. It's looked like it's going to dump for a couple of days now.

Btc going up, US miners going down.. Are they about to lead the drop for the weekend.

Mara isn't the issue, btc looks shaky and might do a dump. I sold all my trading miners the other day as it just looks like it's more downwards that upwards for btc, something has to give.. I drop to 27.5k ish so it can take a run up past 32k.. I think it's needed just to get us moving again.

"With btc forecast to hit 70k by year end Argo could very quickly hit ath. 360p anyone? Money to be made here imo"

What's that £3.60 adjusted for the increase in shares since the ath?

It's difficult to know how argo can recover, it will never be a big player but it's more about survival now, they need to change the business model a bit just to stay alive.

If I owned it all I would change the model to:

No hodl all btc gets sold at the time of generation.

All net proceeds go to shareholders as a quarterly dividend.

Shares are issued periodically for buying machines which are hosted.

There must be some combination of the above that would work, the quarterly divi would be the USP.

"Shorting this first thing in the morning with £50k"

Good luck in finding a broker that will take the short, havn't been able to shirt it for weeks.

"It will be interesting to see what happens with the Primary bid… it’s the same few hours option as PW did previously… this time,"

I didn't even know it was a thing to give just a couple of hours heads up.. I've only been buying stock for 25 years ha

Primarybis for retail investors.. Anyone can buy at 10p

It's not going to hold 14p on that backdrop but the bit I don't get.....

"Phe PrimaryBid Offer is expected to close at 8.00 p.m. on 18 July 2023 and may close early if it is oversubscribed."

Isn't that like in the next 1.5 hours hahahaha

"Is there any UK platforms that allow you to short ARBK ? - Currently down 15% and if ARB follows it’s tradition, will be down 25% on open tomorrow, so potential for 10% arbitrage (if that’s the right term in this situation)"

I know for a fact ig trading won't allow a short sell on arb or arbk, I was trying a lot the other week (due to the predictable placing) but over several days IG just said it was not supported due to market conditions.

I actually sold half of all my miners yesterday as I was getting twitchy with the bt. chart looking more like it's going to do a Bart and dump.

We've had a few stabs at 31.6k but couldn't get through, we might have to go down to take a run up at it.

It was enevitble but such a small amount I don't get the maths.

They owe 59 million and will use some of the 4.7 million raised to pay off a bit of it and that's supposed to be a big thumbs up?

I don't get it, how is that suppose to have any tangible impact at all other than the negative effect of the dilution.

"Very good upside potential vs others even if it only rebounds partially to ATH it will outperform the best miners upside potential."

I know you said partially, but I would not ever expect argo to get any where near it's ath ever again, it lost.

As soon as Helios went, so did the future of Argo, it has raised significant capital through share issue, nasdaq etc to build land and Helios (and swimming pool) but it got handed to Galaxy for a fraction of what was spent.

The market cap may well increase, might even double, but so will the share count so nil point to existing holders.

If Argo was in any way worthwhile the other miners like riot or mara could just buy it outright without even denting thier cash balance in a significant way.

It doesn't really have anything worth while.. It can make money if the price of btc goes up but will have to raise significant capital to not get blown out of the water by increased network hash.

It would be relative suicide to take on more debt, we sold off argo, that leaves shares to be issued and a lot of them.

Get in and out and trade it, but don't build dreams of retirement on it.

Brave.. By the time you factor in spreads and fees you need a decent drop to warrant selling to buy back, I've been on the wrong end of it a couple of times..

It's so difficult, if not impossible to call this correctly in the short term.. Its a bit of a no trade scenario and wait for confirmation when it breaks high or low...

Annoyingly we are bottom feeders and the market is structured to take the money from us so it will also fake out plenty of times to mess with the mind

Turns out it wasn't differnt still smacked back down by 31k.. Must of been lighter trading that made it look differnt..

I'm starting to get a bit bored with it which usually means there should soon be movement (either up or down) to break us out of the sideways movement

"Totally mb, feels different"

I agree, I am hopeful this time round, the trading looked more "solid" the last couple of days with a nice buy/ sell stepping up. I'm not sure about volume though. I thought that could be a factor of why it looked like a differnt type of trading was happening

"they have already said they are looking to do a share issue to generate money for growth."

Its not fud it's fact, last week I could not sell nor buy Argo on either the UK or US market through IG trading, tried about 15 times, I think I even posted here at the time too.

Have they said they are going to do a share issue within a few months? If so I have genuinely missed that.