Argo Blockchain Share Discussion Threads

[ragnarr] 07/1/2020 00:10

would be a good day to release Q4 figures.

[scrutable] 07/1/2020 00:04

More than 1.5m shares in 38 consecutive buys this afternoon without a single sell, and BTC up by $250 to touch $7800, right now, - briefly passing a 4 week high. Looks like another spike developing in response to the Iranian situation.

Bullish SP,performance expected tomorrow.

[john henry] 06/1/2020 23:05

If BTC stays around $7500 until the day of the halving, what do you think happens the day after the halving when the daily selling supply from the miners halves.

[ragnarr] 06/1/2020 23:04

All about timing John :)

[john henry] 06/1/2020 22:00

Solid resistance once again at 7600

[john henry] 06/1/2020 21:19

Hootza i shouldnt worry to much youll be long gone. im guessing in 140 years Bitcoin will be archaic.

Quantum computers will be history.

[mnomis] 06/1/2020 18:38

@ Scottman - don't quite follow your revenue / profit forecasts - would you care to provide the break-down? Thanks.

[scottman72] 06/1/2020 17:20

It’s all in the plan.
And we have decent share price at the moment to benefit

[orm5] 06/1/2020 17:19

From 20th Aug:Argo will also have an option to boost mining capacity by up to 1360 petahash (PH), or 1.36 exahash (EH), positioning it to be the world's largest publicly listed crypto miner by 2020With 17,000 machines by the end of March 2020 we will have 640PH, so there is the possibility to more than double from the currently planned 640PH

[orm5] 06/1/2020 17:15

I recall the new power contract allows the capacity for Argo to do that I.e. to double from the currently planned 17,000 machines.It would be nice to see that with a future indication of dividend policy

[scottman72] 06/1/2020 17:07

If they do that they could potentially be looking at a rate of at least 7m per month at the end of the year even after taking halving and hashrate growth into account.
I.e. over 80m profit per year.

[scottman72] 06/1/2020 16:55

They need to continually reinvest to build at the moment. Then when they can keep comfortably building above the hashtate growth they can release funds for dividends

[hootza616] 06/1/2020 16:54

Exactly my point. Mining always has to be profitable otherwise BTC is unusable. It's a delicate balance.

[scottman72] 06/1/2020 16:42

I hope there will be an RNS sometime in the next 2 months staying that the profits from the installed units in Q1 have been used to order another 17k miners. This doubling the mining capability again and counteracting the effect of the halving. This generating about 9m per month at today’s mining profitability.

[okspookie] 06/1/2020 16:19

does hootza post as much nonsense on this thread as he does on the BLU thread

he's completely clueless

geez

[john henry] 06/1/2020 15:46

I guess we need to worry about that In 140 years lol

[scottman72] 06/1/2020 15:28

How would they be sold if there are no miners around to confirm the transactions.
😂😂😂😂8514;

[hootza616] 06/1/2020 13:33

I wonder what would happen if the transaction fee and any block reward were less than the cost of mining. Would this situation kill BTC? Where would the value come from if there are no miners willing to proof the transactions?

[martywidget] 06/1/2020 12:45

'The very last halving is expected to occur some time in the year 2140'


"As halvings continue to occur every 210,000 blocks or so, the last coin won’t be minted till 2140."

[mnomis] 06/1/2020 12:31

My understanding is also that miners can fairly easily switch to mining different coins if those are more profitable - so presumably, in May - price may need to go up to retain as much mining capacity in place as currently for BTC right?
Took a small speculative punt today ...

[scottman72] 06/1/2020 11:34

21 million was selected as the maximum number. Why I’m not sure, there may be a reason.
Taking into account the halving. It will be about 140 years before all bitcoins are mined. So not something we need to worry about 😀

[ragnarr] 06/1/2020 11:08

At todays rough rate of 1800 bitcoin per day all 21m bitcoins will have been mined in approx 4.5 years.At this point the only revenue for each miner is a transaction fee, however theoretically as no more coins are mined the price of bitcoin continues to increase and as crypto gains more and more traction the number of transactions increases substantially as transactions become for smaller amounts. Think that makes sense :)

[garth] 06/1/2020 11:01

OK,

bit of a novice on bitcoin and blockchain, so apologies if this is a foolish question...

Scotty, you said:

"The maximum number of bitcoins there will ever be is 21 million and I think under 3 million left to mine."

Why 21 million? (not 22, or 20, or any other number?)
When is 21 million forecast to be hit?
What happens to miners such as Argo when 21 million gets hit?

Thanks,

G.