Member Info for tiger100

Putin is like many dictators in this world today, not concerned with the welfare of the people in his country, only the benefits he and his wealthy friends (Oligarchs and the Russian Mafia) can reap by ripping off the ordinary people, Think also of Lukashenko, Xi, Bolsinaro, Assad and most of the Arabian Princes who have never done a days work in their lives yet are worth billions. Putin has 17 billion dollars by the way, how did a middle-ranking KGB officer become so wealthy ? He thinks this escapade may endear him to the Russian people, but judging by the news footage of spontaneous protests, it's not looking good. It will look even less good if the 18,000 Kyiv citizens who today received machine guns manage to send a good number of body bags back to "Mother Russis".

Reading previous posts, there is some confusion as to how the new machines are being financed and when they are to be paid for.
From 30 sep 21 RNS:
"Expansion of mining capacity
Argo Blockchain, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to announce that it has executed a purchase agreement for 20,000 Bitmain Antminer S19J Pro machines, to be paid in periodic installments before final shipment. The initial deposit is currently being funded by the Company's cash reserves. The machines are expected to increase Argo's hashrate by over 2 Exahash and are expected to be delivered and installed at the Company's future Texas facility in monthly batches from Q2 2022 through Q3 2021"
If we get a discount we could probably get them for, say, $10,000 each. As we are buying 20,00 the total cost is 200,000,000 dollars.(two hundred million dollars). The expression "to be paid in periodic installments before final shipment" confuses me too. If we have to pay installments for each one up to the purchase price before final shipment of that machine, it could take along time for 20,000 !
We could make regiular 10,00 dollar payments and a machine would be delivered, but that is not clear from the wording.lNo doubt there is somebody out there who understands the situation better and will call me an idiot.

goondaft, yes, and it looks like the deck chairs are being rearranged to pay the directors' salaries !

Well a rise from current 1.3 to the high of 29.5 is about 2200%.

RareGroove, I don't know what school you went to, but at my school the most it could drop is 100% i.e. down to zero. similarly, 90% drop would equate to the share being worth 10% of it's former value.

Regardless of hashrate, these rigs are costing them $1.7 billion dollars. That's a lot of Bitcoin to mine before you go into profit !!

Thanks.

Just a small point, can anyone tell me how 25/11/21 to 19/1/22 is 3.5 months. Thanks in advance.

Another case of market manipulation.

The huge volume on the way up tells the story. Pump and dump. Only my opinion.

More to the point, BeardedDragon, why do you think it WILL rebound to 100p ? What is the basis for your assertion ?

Why would these 5% not get involved, they probably drink in the same exclusive clubs as pump and dump merchants, they would be tipped off when the next run up is coming and when to take profits, that's how this corrupt industry works.

investor, I think you're right, if the big players let it drop too far the canon fodder (PIs) will lose faith in it, so dropping it a bit more from here then starting a new pump will probably work best for the Masters of the Universe.

CaneToad you have it pretty much spot on IMHO. In recent times, with many folk at home because of Covid, there has been a big influx of newbie PIs who don't understand how the markets work. This has made it much easier for the big players to pump and dump. They start with a few largish buys moving the price up. Pis with FOMO then start buying pushing the price up more, then a snowball effect with a mixture of PIs and big players continuing the upward move. When the big players stop buying and start to unlad (sell) the PIs continue to absorb the sells, convinced they are onto a winner. The big players continue unloading (dumping) until the price starts to drop, leaving many PIs marooned at the top of a falling market. It's been like this for years, just got worse recently. Just my opinion.

Yes good read Insider. The large increase in newbie players has made it easy for the big players to mislead, pump and dump. The markets are now heavily loaded against PIs, especially newbies.

Yes and there were plenty of buyers. Many years ago, maybe still going.

Insider, I have a South-Sea bubble for sale if anyone's interested.

Sounds like it's you who needs the chill pill tomahawk, unnecessary abuse. By the way. I'm not a teacher, I'm an HGV1 driver.

tomahawk yo speak with forked tongue. You belittled boraki's post as though it were not true when it was true. You then come back and say your post was not referring to the current situation but to a hypothetical situation that BTC must go up because it always does. Deliberately misleading and unnecesarily denigrating to boraki.

Which chart are you watching tomahawk ? Clearly a different one from boraki and me !