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Good time to buy perhaps
Had to spend a couple of minutes putting this together....
Someone who lies about the little things will lie about the big things too.
IndeedGood time to buy perhaps
Went back in on ARB at 134. Put an order in to flip it at 175
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Good luck.
Someone who lies about the little things will lie about the big things too.
*** STOP PRESS *** EMERGENCY PRESS CONFERENCE *** STOP PRESS ***
Weak:
Someone who lies about the little things will lie about the big things too.
I just looked this company up, they turn over less than £20m with £1.6m profit yet have a market cap over £500m
They must have some impressive IP and growth plans ...
Not at all. Just an overhyped shitco like many others.
It will go down another 80% from here. Said it since it was trading at 250p.
Someone who lies about the little things will lie about the big things too.
I have zero interest in that as I'll be out of ARB by weds. Just trying to catch a bounce. No interest whatsoever in the long term prospects of the company - I'm not smart enough an investor to do that and just use index trackers and funds to take care of that for ne
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Someone who lies about the little things will lie about the big things too.
Presumably, hopefully Ryan only chucked a few quid/ beer money at it.
Lots of talk about sh1tcoins on here, I thought this was quite witty (stolen from Twitter)
..
These scam coins are getting crazy. One someone just shilled me:
- 27 trillion in circulation
- unlimited supply cap
- only 1 node
- 25% of supply minted in last 6 months
- 1% of holders own 30%
(thats the US dollar)
I’ll politely suggest that your research has missed a few things.
(All of below is as I recall - I’ve not checked up to date data, so may be a bit off on some bits, but it’s roughly……..)
Argo currently mine BTC at a rate of around 2000 coins per year with an efficiency margin of 84%. This hash rate is growing fast. I expect it to be 3000 coins per year soon, and possibly multiples of that when new mining systems come online.
That mined BTC is worth $84,000,000 a year with BTC trading at $50,000 per coin. So their current valuation is only around 6 times gross.
They also earn money to pay for the day to day running of their operations from mining ZCash (ZEC)
They also own a 25% stake in https://plutodigitalassets.com/ which is about to IPO.
They own a 30 acre site in the green electricity belt of mid Texas (where the Tesla battery gigafactory is) and have signed agreements for work to be started on a massive new data centre. (Full finding is already in place and they have zero debt and about 2000 bitcoins on the books as of today. I think the new data centre will be the biggest in the world and will run on 100% green energy.
They’ve just bought two more massive data centres in Canada.
So, yes, for a roughly 2 year old company, their current recorded profit and valuation seem a little out there, but that’s the same for any new company that’s in the growth phase.
Their share price is currently tied to the price of BTC, but I think their grand plan is to diversify into many others digital things.
Here’s a taster of things to come. https://youtu.be/81n7HKrXDzU
Last edited by mr noble; 18th May 2021 at 13:15.
Sorry but that is all just smoke.
Pluto is a five month old company into which Argo has invested $8 Mio - what it is worth we can debate but in my book it's a zero. And if you want to know about the confidence of the board of directors and the CEO, it is always helpful to look at their insider filings. CEO and directors have been selling every share they received all the way through the share price rally.
Someone who lies about the little things will lie about the big things too.
....and that other Messiah, Michael Saylor, CEO of Microtragedy, ist now averaging down in ever smaller increments as he is running out of cash.
He now sends out an ad-hoc for every $10 Mio he invests in bitcoin.
Someone who lies about the little things will lie about the big things too.
As I said ambitious plans, the valuation is based on them pulling off a good proportion of their objectives which is quite risky for such a young company. Could happen.
I think he’s taking advantage of the lower price with the cash he has just now, as he bought the usual $15m very recently when BTC was around $55k.
My understanding is the Peter Wall sold a lot of his own shares but still has a lot of options.
Mr Timis, who was one of the seed investors was forced to sell the bulk of his shares as he has a criminal record which would hamper Argo getting unlisted to the Nasdaq.
Plus, I think Id sell a lot of my shares if Id watched them go from 3p to £3!
Im in no way trying to suggest Argo is a strong and stable investible company, but I dont think its fair to call it a shitco either.
Very far from that for those who were clever enough to be buying in at 10p!
He added 0.25% to their holding of bitcoins. How that is ad-hoc material is beyond me (Tesla doesn't even find it worthy of an ad-hoc when they are under fraud investigation or when 20% of their production capacity is delayed by a year).
Honestly, it is pure desperation. Considering the amount of leverage, I don't think bitcoin has to go a lot lower for the whole thing to come crashing down.
Argo is the definition of a shitco. It will go below 50p before the summer is over.
Someone who lies about the little things will lie about the big things too.
Anyone getting into BTC around $42k?
I'm looking at ETH and also interested in something called Crypto20, which is like an index find for the top 20 coins
https://www.crypto20.com/en/
Not sure if anyone has any? Looks like the most straightforward place to buy it is on their Invictus platform. They have some other interesting products too.
Where were you when bitcoin died?
Someone who lies about the little things will lie about the big things too.
Its double what is was in November. Lets not forget that.
A friend actually rang me last night to see if I was selling, hes getting nervous. But hes only a recent player. Thats whos selling right now - guys like him.
Im not selling at any price, if it goes to zero, so be it.
I believe you.
The problem is that most of the investors (and the most vocal ones) have been late and are feeling a lot of pain. Many leveraged accounts are being margin called and it becomes a self fulfilling prophecy.
Add the leveraged shitcompanies like MicroStrategy and you get a veritable time bomb.
Someone who lies about the little things will lie about the big things too.
Oh, there is a rather large company that has about 38k bitcoin on their balance sheet with an average purchase price of about $35,000. I wonder if they'll sit and watch their position going under water, because that means they'll have to book a nasty impairment on it.
What say you, Elon?
Someone who lies about the little things will lie about the big things too.
As it was bought as a very long term "store of value" (as people like to put it) I doubt they'll care too much.
BTC does have pullbacks, just like all stocks do.
The last bull run. We are at the green circle.
Last edited by mr noble; 19th May 2021 at 07:54.
That is blah blah. They do care a lot, as they will have to book an impairment for any price printed below purchase price but can only book gains if and when they sell. So when BTC dips below $35k or thereabouts, you'll hear cries of agony from Fremont. Tesla has enough loss-makers already, I am sure they didn't think bitcoin would turn into another one.
Can we expect the usual defence tactic of large options buying to protect the price? Not from Tesla themselves, according to Elon, because bitcoin bad. So who will shill up for them? Hmmm.
Someone who lies about the little things will lie about the big things too.
On top of EM the Chinese are now sticking the knife into BTC and hitting crypto prices, be interesting to see where all this goes?
I'm yet to see any proof of this. The only posts and tweets I've seen on the topic are news stories being regurgitated from 2 or 3 years ago. De-rampers working overtime to get BTC as low as possible. Presumably so they can buy the dip and ride the next wave up.
Elon could sort his Tesla impairment issues by buying more at the same price he bought the first lot. Simply doing so would send the price zooming back up again. At least a short term fix.
ETA - And news coming out that India looking at reversing it's crypto ban. Not that it's particularly big news......
https://cointelegraph.com/news/india...economic-times
Haha.
Love it when bitcoiners say that others are trashing the price so they can buy cheaper. "They..." LOLZ.
Let me help you on the China news:
China has banned financial institutions and payment companies from providing services related to cryptocurrency transactions, and warned investors against speculative crypto trading.
It was Chinas latest attempt to clamp down on what was a burgeoning digital trading market.
Under the ban, such institutions must not offer any service involving cryptocurrency, such as registration, trading, clearing and settlement, three industry bodies said in a joint statement.
CNBC
Someone who lies about the little things will lie about the big things too.
What are the Chinese doing?
See my post above yours.
Someone who lies about the little things will lie about the big things too.
Is that the 4th or 5th time they've banned it now?
So the same "ban" as we have in the UK then......where the likes of Hargreaves Lansdown and Interactive Investor, etc, were all banned from offering any BTC derivatives or trading products from Jan 1st this year.
Can you help a brother and show me were/when they did it before?
Someone who lies about the little things will lie about the big things too.
I was assuming you could read, but let me spell it out:
"institutions must not offer any service involving cryptocurrency, such as registration, trading, clearing and settlement"
Where was that communicated before and how is anything remotely similar in effect in the UK?
Someone who lies about the little things will lie about the big things too.
https://finance.yahoo.com/news/china...151414214.html
- - - Updated - - -
Also, there's this (unrelated to China)..
https://twitter.com/CryptoCapo_/stat...40565208244235
But that's not the same. The new ban goes much further.
Yes, that applies to some (including yourself) - but not to those who started to buy this year, many of them leveraged (as you stated in your post earlier this morning).
Let's just agree we wait and see how it plays out.
Someone who lies about the little things will lie about the big things too.
Yeah, and maybe the next one will go even further. I'm not particularly worried about China
That's true, but I bought some BTC very near an earlier peak about 10k (IIRC) and soon after it was at 4k
You either take the long-term view or you panic sell
I'm the former, my 10k purchase level has touched 63k, now at 38k
I agree on the leverage, it's just madness to be buying anything this volatile on leverage
Last edited by demonloop; 19th May 2021 at 09:55.
Same boat as demonloop here. HODLING, and stacking sats with all the volatility by swing trading between ETH and the sh!tcoins. Since 60k BTC, I've trebled my BTC equiv holding.
Just imagine the carnage if the USA followed China's position ...
Would that mean game over to all intents and purposes, Bitcoin et al would become another cautionary tale like Tulips OR the South Sea Bubble.
Presumably you chaps who Hodl, you do have some pre planned points at which you'll sell some or part in order take out/ bank your winnings/profits or do you cleave to the notion they'll have to wrench the crypto's from your cold dead hands...
Last edited by Passenger; 19th May 2021 at 11:04.
Would be fun to watch.
Not really planned in detail, but I'll exit and put into property at some stage
It will have to be a life-changing / early retirement amount though
And the best of luck to you, that's the only 'amount' worth playing for imo though it differs for everyone/ depends on location/ circumstances as you probably have already concluded ...fwiw property has been good to me/us, we've been able to use relatively modest sums for deposts and renovation, take advantage of the gearing, earned a comfortable income whilst enjoying solid asset price growth over the years. Mainly residential but we've had some good outcomes with commercial too.
My main investments are BTL, it's hard work and not for everyone but I find it quite enjoyable
It's certainly not the golden goose it once was, but it's still a very solid investment imo
Heck if it were easy everyone would be doing it!
Some of the latecomers to the Bitcoin party must be sweating a bit now ...
depends on your nerve I guess. They are probably feeling a bit like I felt in March 2018 when I put in £3k I could afford to lose. I was down until November, and at the lowest my £k was worth about £1.3k... now it's still worth £6.5k down from £8k a few weeks ago. I'm happy to ride some waves and see if the crapcoins go anywhere in another 3-5 years.
With that level of investment Id probably let it run too ... its those who are sitting on losses with leveraged investments and those still looking at substantial profits who must be getting twitchy.
The Chinese announcement was unforeseen and any other similar announcement could precipitate a big drop. These things will come with no warning and retail investors will be the last to know.
In addition some may face a margin call which would potentially force a sell off.
Good luck all ...
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