Argo Blockchain Share Discussion Threads

[whoppy] 09/12/2019 14:29

The price has been manipulated somewhat on the basis the company has gone quiet (to me this just means they are busy) and the seed investor has the last of their shares still to sell, and the other is the market is not convinced of a bull run in Bitcoin. Recent director buys were at 6.9p, so market is probably undervaluing the company.

[hootza616] 09/12/2019 08:17

I don't think we are so far away.I have not used cash for years!Even travelling abroad I never take any foreign cash.If they don't take my Amex card then the don't get my business.It would make no difference to me if I was paying in lumens, BTC or pounds and pence.The thing holding governments back from managing fiat on blockchain ledger is the banks, who would lose control over the stored wealth of others, and of course the ability to create "virtual" money from it.But soon the governments will see the benefit of zero cash transactions, zero tax avoidance and zero fraud outweigh the bank pressure to stick to the status quo!

[ragnarr] 08/12/2019 18:35

Can cryptocurrencies ever replace fiat? This has been a subject of debate for many years now. According to Deutsche Bank's latest study, the answer could be yes. Deutsche Bank's analyst Jim Reid's new study, titled 'Imagine 2030', stated that Bitcoin and other cryptocurrencies could eventually replace the established Fiat currency system by 2030."Overcoming regulatory hurdles will broaden their appeal and raise the potential to eventually replace cash."The research pointed out that cryptocurrencies have always been "additions", rather than "substitutes, to the global inventory of money". After a decade of Bitcoin's inception, cryptocurrencies have not managed to take off as a means of payment despite their well-known benefits, such as security, speed, minimal transaction fees, ease of storage and relevance in the digital era. The research noted the fading confidence of the people on the legacy institution, and stated,"The forces that hold the fiat money system together look fragile, particularly decades of low labour costs. Over the next decade, some of these forces could begin to unravel and demand for alternative currencies, from gold to crypto, could take off."Source: Deutsche BankFor cryptocurrencies to become widespread, it needs to overcome three main hurdles following which the "eventual future of cash is at risk". The cryptocurrencies need to become legitimate in the eyes of governments and regulators. This can be achieved by bringing stability in the otherwise highly volatile market. Additionally, alliances must be forged with key stakeholders – mobile apps such as Apple Pay, Google Pay, card providers such as Visa and Mastercard, and retailers, such as Amazon and Walmart.New challenges are bound to crop up once the aforementioned hurdles are crossed. This essentially means that the entire financial system will be based on electricity consumption and hence the financial system needs to be ready to overcome any kind of electricity shutdown or cyberattack. The research stated,"As we look to the decade ahead, it would not be surprising if a new and mainstream cryptocurrency were to unexpectedly emerge. Some countries with historically-strong banking industries are trialling cryptocurrencies. Separately, cryptocurrencies may constitute the best tool for a digital war. The question is which country will take advantage of being the first to obtain licenses and build alliances. As that occurs, the line between cryptocurrencies, financial institutions, and public & private sectors may become blurred."

[horneblower] 08/12/2019 12:56

My view is that's unlikely.
Firstly, the extreme volatility of bitcoin will stop it becoming a trusted currency.
Secondly the huge cost of mining will become unacceptable in this age of global warming.
However, I do believe it will bounce after it hits $6k (although there's a reasonable chance it will go as low as $4k) so ARB will also.

[hootza616] 08/12/2019 08:37

A very typical piece of contradictory media that states everything is good, bad, will and won't happen.From stagnation to extreme volatility, 2020 halving good/bad, capitulation of miners true/false and even liked by the investors.Why do they pick these individual "BTC investors" to offer predictions as if they are experts? It's almost as bad as the BBC when they report "John from Newcastle Tweeted....."Utter nonsense and meaningless reporting.The only real and important info here is that the hash rate has doubled in less than a year, despite the price volatility, which means the usage and acceptance of BTC has doubled throughout the globe. I believe it will continue to double each year until it is globally accepted as an alternative to gold.

[supercity] 08/12/2019 07:33

Interesting read, they don't seem to be able to make their minds up.After weeks of saying bitcoin will rally at the end it's now predicted to crash in the next few weeks and they claim miners are kidding us with their all in costs as they don't take in to account depreciation, expenses and net finance expenses. Claiming a firm saying 4K all in costs is nearer to 7k.https://cointelegraph.com/news/death-spirals-and-btc-what-happens-when-miners-capitulate

[hootza616] 07/12/2019 15:57

Hopefully Stellar!I have millions of them!

[ragnarr] 07/12/2019 11:27

You are right - everyone everywhere is just blagging it :-)

[cbeadle] 07/12/2019 09:21

I agree BTC also has few fundamental measurable ways it can be valued. It looked early this summer it was really about to blast skyward and fell right back. I wonder if 1-2 of the other crypto currencies might also take off like Etherium Ripple or Stellar?

[hootza616] 07/12/2019 08:22

Has BTC ever played out based on traditional chart predictions? Over the last year I have not seen any example of this, with the market always being surprised by the big moves up or down. Every day in the crypto media, for every bull prediction you can find a bear one. Of course it's easy to find someone who was right after the event, and then hail them as the guru, until they are wrong, which is usually when the next move occurs. Personally I don't think anyone has a clue, so place your bets and best of luck everyone!

[ragnarr] 07/12/2019 00:13

get ready !

[celinedetoro] 06/12/2019 17:37

BTC is a high leveraged play through a few plays. This is one, for sure.
Bit chart though is yet to give any bull signal, it's a 50/50 where it could go from here.
I'm more optimistic this will goto $10k but could well see $5k before it does so.
End of 1st Q next year i see it starting to run, and below $6k in Jan. lets see.

[ragnarr] 05/12/2019 13:15

Bitcoin didn't have the best second half of 2019, plunging from a year-to-date high of $14,000 in June to $7,400, where it sits as of the time of writing this. At its lows, the cryptocurrency fell as low as $6,600, languishing as BTC buyers failed to step in amid selling pressure seemingly catalyzed by Chinese regulation of digital assets and the operators of a multi-billion dollar Bitcoin scam selling their coins.Despite the harrowing backdrop, Bloomberg's Mike McGlone of the business media giant's Intelligence unit believes that Bitcoin has a positive outlook heading into "2020 and the next decade" due to a confluence of factors.This confluence, McGlone went as far as to say, could bring the cryptocurrency back into the five-digit range in the near future, which would be a welcome surprise for many investors in the industry, who has begun to think that Bitcoin has reentered a "Crypto Winter" state yet again.Bloomberg's McGlone believes that the bull case for Bitcoin is rapidly building, as long as the key support of $6,500 holds in the near future. In fact, the analyst went as far as to say that it is "only a matter of time" before BTC breaks the key resistance at $10,000. Why, you ask? Well, the Bloomberg analyst gave a confluence of reasons:Firstly, he drew attention to the fact that as gold rallies, so too should Bitcoin. While the precious metal is currently trending lower, having peaked last summer in the midst of the trade war talks, the macro picture may start to favor gold (and thus Bitcoin) heading into 2020; a potential recession, restart of the trade war due to Hong Kong and Xinjiang regulations, and other underlying issues in the traditional system could boost alternative assets.Secondly, McGlone opined that a perfect storm is building for the cryptocurrency in terms of its "basic premises" - mass adoption and a fixed supply cap. "Bitcoin is winning the adoption race among crypto assets and is becoming increasingly scarce, which favors price appreciation. Plenty can go wrong with a nascent asset, but unless the basic premises reverse, there's a higher probability to sustain price appreciation vs. depreciation," he wrote, in a seeming bid to support the idea that the halving will act as a negative supply shock to a market predicated on simple supply-demand economics.Other Analysts Believe Bull Case Intact TooIt isn't only McGlone who thinks that Bitcoin will have a positive skew heading into the coming year.Fundstrat Global Advisors' Thomas Lee recently took to CNBC's "Market Alert" segment to talk about the latest going-ons in the stock and cryptocurrency markets. The host took some time to ask about Bitcoin, especially in regards to if the analyst believes that the bearish bias that has developed since June will continue into 2020. Lee disagreed, stating that he expects for 2020 to be positive for Bitcoin. He specifically drew attention to three positive factors that are likely to push BTC higher heading into the coming year:The strong growth in U.S. equities, namely the S&P 500, implies that investors will soon start allocating more capital to risk-on investments like Bitcoin and cryptocurrency; Lee noted that his company has observed that there is a correlation between strong performances in the price of Bitcoin and the S&P 500 index.BItcoin's block reward reduction, also known as the "halving" or "halvening" in reference to the fact that Bitcoin's inflation gets cut in half during these events, is coming up in six months' time. Lee thinks that this could be of benefit to BTC investors, as the event acts as a large negative supply shock in a market that analysts say is seeing increasing demand over time.And lastly, the Fundstrat executive thinks that while China has taken a harsh stance towards Bitcoin thus far, authorities in China remain pro-digital assets because they are pro-blockchain.

[whoppy] 05/12/2019 12:48

Bitcoin going up, ARB going down!

[riddlerone] 05/12/2019 09:52

I agree but this is not a normal company with a normal risk factor.They initially gave numbers because it suited them and gave transparency to earnings.Whats changed well all of the above so even more of a reason to give the BTC numbers not less.

[riddlerone] 05/12/2019 08:21

Still think that the management changed the way they report from the summer because of a drop in profits and it wouldn't really look that good to have doubled capacity and probably have less profit.

From ARB's peers

Hive Q2 Ending Sept 30th
"During the quarter, our cloud mining operations for Bitcoin benefited from a healthy coin price in the summer months but market conditions worsened significantly into the fall. The price of Bitcoin declined while the difficulty in mining Bitcoin increased dramatically reaching a record high. As these operations operate on a fixed cost basis, we have prudently decided to suspend 200 Petahashes of our cloud mining capacity as the current quarter has become unprofitable for mining. We are currently reviewing various factors including market conditions and the anticipated impact on legacy ASIC miners from the halving of Bitcoin rewards expected to occur in May 2020, to determine our best path forward for this equipment.

Hut 8 Ending Sept 30th
“Hut 8 achieved some significant accomplishments in Q3. We became the first cryptocurrency company to get approved to trade on the Toronto Stock Exchange, which began on October 8, 2019, shortly after the quarter end. In addition, we announced capacity increases of 19.6%, significantly reduced leverage and increased our bitcoin inventory balance.” said Andrew Kiguel, Chief Executive Officer of Hut 8. “However, during Q3, the price of bitcoin decreased by 30% and mining difficulty increased by 61%. The impact was a revaluation of our bitcoin balance down by $10.0 million and mining less bitcoin in this quarter versus the previous one.” said Kiguel. “The overall impact of Q3 is more mining capacity and an improved balance sheet that still retains substantial exposure to bitcoin through our bitcoin inventory.”

Come on give us the Monthly figures as things stand so we and the market can value the stock accordingly

[parsons4] 05/12/2019 08:10

You are probably right Purple...

[parsons4] 05/12/2019 07:05

People seem to forget that there are a lot of very clever organisations involved with BTC. Also the huge majority of the world population have not got a clue what BTC is all about. Thirdly BTC is in direct competition to all World governments. I think ARB has to be careful what it RNS's for so many reasons. I am confident that they ARE making money at such a level that the cap is far too low. Whatever happens to BTC in the long run doesn't matter but on a 12 month view I think there may be fireworks IMHO. I will continue to hold

[hootza616] 04/12/2019 23:50

I agree Roddy, but how do we shareholders inform the board that we want a divi?

[horneblower] 02/12/2019 23:22

All rather self-contradictory.

My take is that firstly, the trend of the BTC price is still downwards. I expect it to go lower, but not collapse. It will inevitably bounce but it looks as if it really needs to hit 6k and probably 4k first.

Secondly, the deathly silence on the mining results from ARG since August suggests they are not keeping up to their previous rates of production, presumably due to the increased difficulty of mining. Who knows what the Winklevoss twins are doing, or the Chinese independants? One way or the other, the lack of information is not helping the share price

Some time in the new year btc will turn and ARG will turn. Be ready.

[ragnarr] 02/12/2019 22:16

Two Years of Upside? Bitcoin Yearly Candles Hint Explosive Price Growth IncomingBitcoin prices might be a long way off their 2019 high of almost $14,000 but this year has still seen the cryptocurrency gain in price. The year opened with the leading digital asset trading at just below $3,800, considerably less than its current price of around $7,300.Although yearly price data is clearly limited, if previous years are anything to go by Bitcoin looks set to post two more years of gains. There seems a pattern emerging that sees a year of decline follow three years of upside.Despite the admittedly meagre sample size (Bitcoin has only been around for a decade, after all), the price of the leading cryptocurrency by market capitalisation looks poised to post two more years of upside. Bitcoin price, when viewed as a yearly candlestick chart, appears to be repeating a pattern of three years of upside followed by a year of losses. Given that Bitcoin is such a young asset, there have only been two of these four year cycles to observe so far. That said, the first candle of the third looks to be falling in with the pattern with just over four weeks left in the year. Providing the price stays above $3,800, the pattern will remain intact.Along with the general pattern of three up, one down, there is another interesting, potentially emerging trend. The last candle of the back-to-back price increases is typically much larger than the two prior. If the pattern holds true, it looks like 2021 will see explosive growth for the digital asset.The oversized candlesticks every four years are likely partly the result of the halving event programmed into Bitcoin's code. Every four years, the supply of new coins gifted to miners for adding a block of transactions to the blockchain decreases by half. This essentially increases Bitcoin's stock-to-flow ratio (a measure of scarcity) and any uptick in demand has a much more magnified impact on prices than a similar increase would have done prior to the halving.The next halving event is expected to occur during May of 2020. This will see the number of new Bitcoin added to the total circulating supply every ten minutes fall to 6.125.Some traders and market analysts believe that the next halving will result in another parabolic run up in Bitcoin prices, like those seen in 2017 and 2013. PlanB (@100trillionUSD) argues that the reduction of new Bitcoin regularly hitting the market will eventually see the price rise to around $55,000 per Bitcoin. The analyst makes no prediction as to when this will occur. However, given that the stock-to-flow theory of Bitcoin's value centres around the halving events every four years, if PlanB's prediction comes true, we will see a $55,000 Bitcoin at some point within the four years following May 2020.