The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
i know there's a discussion to be had about riot v mara but i see it quite simplistically...
i hold riot over mara because:
i like that riot has little debt and owns it's buildings and infrastructure, it is branching out a bit from pure mining and is having a go at a bit of vertical integration which in itself can be a profitable venture.
i know there are distinct differences but i see mara more like micro strategy and tbh i would buy microstrategy over mara if i wanted that sort of play.
it's horses for co****s but i like that riot own some "stuff"
That's a good solid days performance from Argo..
In all seriousness, does argo have anything left to offer other than a slow death?
I think we really need to see a change in strategy, a change into what I don't know but if I'd doesn't have captial to stand it's ground it will just get squeazed out..
"I can see argo growing slowly from here, adding little hash as they go along and keep mining. There sp will keep rising slowly, once they get to around maybe 40p, they might try a raise and grow larger."
I actually see it the opposite I think they will slowly die.
If they don't keep adding hashrate the difficulty in reade will mean they get less and less each month... Its a bit of a daft game tbh.. In the end there can be only one just like highlander
Basically they blew it, they had a shot at greatness but messed up and are now out of the race, it happens. A slow painful decline awaits as the other miners increase the network hashrate and Argo won't be able to keep up.
Unless of course someone can realign the strategy to it's current position and flip business model in some fashion.
"wow btc on some kind of sonic boom rip. it was 27200 just 24 hours ago."
Btc does what btc does, it's why I wasn't too bothered about it falling through the 27.5-28k support zone and after I was back in at 28. 5 ish.
If you don't catch the falling knife it turns so fast that you can't catch the rocket.
"I don’t know how you fix Argo, especially after the halving."
I reckon they will have to change stretefy / business model, maybe a qbt type reversal and Argo can get to flipping some burgers from a burger van.
The only option I see is a significant dilution to raise capital to buy machines and get them hosted at Helios. It really doesn't have a lot going for it, the management, team is poor, the assets are poor and it's prospects are poor when considering the general landscape and competitors.
Just to stand still argo will need to invest heavily. They had a shot and they blew it, it will probably delist from nasdaq and be a lse AIM share.
"The 28250 level some people were talking about has been smashed - so how low does it go? I've heard 25 mentioned a few times - guess we'll see what happens."
Yea 27.5 - 28. 2k was an expected support level, it fell straight through with relative weakness which is surprising consider g the consolidation that happened for 3 weeks or so, final destination 25k but with a few stops along the way. I'm still expecting a turn around as 28k went too readily. Unless it's all just been a orchisteated long play rug pull, in that case nine of it means a thing ha
The miners share price (in the absence of tangle news) just moves with btc, charting off the miners performance is relatively pointless when you can get more direct data from it's underlying asssest movement.
What I'm getting at is that support and resistance levels for the miners are practically irrelevant, they are just a relection of btc movements (mostly)
"bitcoin textbook catching a falling knife. bouncing twice off dead on 28."
That's true, if 28k doesn't hold I'll be having a few cuts.. Sometimes you just have to do what you think is best, with btc if you wait for the bottom it becomes a spike before you know it and then no one wants to buy the spike so wait for the retrace.. Then you kick yourself anyways when it keeps going up and you wonder why you didn't take a position because in hindsight the patten looks obvious.
All part of the game
"Pretty confident 28k will hold. Its was resistance for approx 3 weeks now support. For me this is the loading zone."
Yea it should take a pretty good battering and still hold, I've been watching the last couple of hours of trades (better than the kids programs) and it looks quite contrived. Looks like a structured walkdown, I'm interested if it stops at 28,200 or goes to 28.
Ive bought in as much as I dare so I'll take the hit and just kick myself for not holding out a bit longer.. The trouble is, as we know, btc can turn instantly so didn't want to be on the wrong side of it.. Fomo is a killer
Looks like some text book consolidation action, I'm ready a lot of panic and nonsense over on stocktwits.
This drop had to happen, it was just a question of when and now it's a question of how far. Will the 28k support line hold or will it fail to 25k.
I personally think the 28k will hold and we will richocet back to 30k in the blink of an eye. If it does fail through to 25k I'll be a bit annoyed as I could of got more for my money but it will all be short lived and back to 30, 35, 37,45 then anywhere.
The most concerning bit to me is that it's following some basic chart patterns, which makes me think it's being a bit over manipulated... Could be a long game rug pull or maybe it's just normal activity by investors moving in and doing text book plays.
Fingers crossed I can stay on the right side of this as I'm in a bit deep.. Tbh I think 30 will be back super quick, I'm glad we packed the sand down a little with the retrace, it was preventing me buying more
"GL Chuz.
I should have been a bit more patient."
I lost my bottle and have started buying at 28.7k it just doesn't want to die properly ha, might get a bump up and a shake though so need a bit more or maybe it has retested, found it's support and off we go.
Exciting times,
Good to see you still around @Hexam,
The fame plan could of been simple, loan to build Helios, share price up, then equity raise to pay off loan. Share price would of gone down a bit then we would of held the asssest, still needed another 100mil to put machines in but that could of been done over time and hosting agreements used.
Just bad management decisions, I really don't like the way Helios went to Galaxy for buttons in relation to overall costs of project Helios.
I hope spur have managed to make use of thier pool