Argo Blockchain Share Discussion Threads

[j4ckthehat] 10/5/2020 02:48

At the moment ,huge ouch

[aidenabettin] 09/5/2020 20:22

hTTps://zycrypto.com/how-tokenized-real-world-assets-can-help-crypto-investors-beat-volatility/

[brasso3] 09/5/2020 16:09

Nice wedge forming on the BTC chart

[aidenabettin] 09/5/2020 13:03

Is there any darker place than the city of london corporation?

[parsons4] 09/5/2020 12:58

Let's face it 21m BTC is worth a tiny figure compared with the world amount of FIAT currencies, that's why such huge fanciful prices has been put on the future price of BTC

[dennisbergkamp] 09/5/2020 12:55

Like a hedge against Cyber s/w companies! ;-)

D

[dennisbergkamp] 09/5/2020 12:55

Blackrolle00, thats what I have thought all along... i.e, worse case it goes back to the dark web where it started being used in the main.

D

[suffersnofools] 09/5/2020 12:35

That's rubbish though. In places like Argentina, Venezuela and South Africa, BTC is a legitimate defence against corrupt governments and rampant inflation.

[aidenabettin] 09/5/2020 12:28

The negatives for ARB are very poor city connections who are associated with bucket shop activity.Eventually though even the bucket shops will need to get into legitimate business when the money laundering becomes more difficult because of Blockchain. BTC is the future and we are only at the beginning. Minor miners have to be removed over the next 4-8 years. But we will only ever have 21M BTC. It will be a major store of value eventually but a lot of money has to be laundered from offshore first

[blackrolie00] 09/5/2020 12:16

Hehe yes, if it ain't ever going to be used legitimatly the black market will settle as its outlet

[horneblower] 09/5/2020 12:14

...Well, apart from huge fluctuations in value due to speculation and hardly anybody actually using it for legitimate purposes...
It’s all quite beautiful really.

I'm all for making money out of it as it charts quite nicely.

[hootza616] 09/5/2020 10:53

Transaction fees slowly increase to replace mining rewards. If the fees are not big enough miners turn off and the difficulty drops, miners turn on the difficulty rises.All the time BTC solidifies itself as a store of wealth and the price increases as availability reduces.No inflation, no QE, no government manipulation, worldwide acceptance.It's all quite beautiful really.

[aidenabettin] 09/5/2020 09:57

Too many have a short term get rich quick hope when buying $BTC. For med/long term investors $BTC looks good as everything is eventually tokenised.I do margin/futures more for involvement rather than for substantial financial gains. You will get burnt if you get greedy imo. If I make a profit and take it even very small I transfer 50% to a cold wallet in $BTC and start the trading again. The crypto markets are no less corrupt and manipulated than any other financial market. Take small gains and hodl and see what you have accumulated in 3-5 years

[parsons4] 09/5/2020 09:46

I wonder how management deal with conversion into dollars, they have stated that they decide on the short term direction of BTC among other things. $10000 would have been a great area to sell in hindsight. No doubt we will see when we get the May sales figure.
Of course the next 3 weeks are going to be very interesting, from Tuesday half as many BTC will be produced. This is just as the world is in very uncertain times with many companies on the brink and government bonds yielding nothing. Where does someone put just a small amount of their capital as a hedge ????? Crypto (BTC) or GOLD. I am much happier to have a large holding of ARB rather than a large BTC position as volatility in BTC is likely to be frightening !!! Yes you could make a fortune but have many sleepless nights watching BTC yoyo about GLA

[idiot441] 09/5/2020 09:45

Aiden... BTC transaction fees are already an income stream to miners.

Doing a bit more research on transaction fees ..
I think this is actually a significant income stream that is currently ignored.

Number of transactions and the fees paid are both running at higher levels.
hxxps://www.blockchain.com/charts/miners-revenue

If ARB mines £20m this year an extra 3%(?) In transaction fees is a very handy £600k STRAIGHT to bottom line. NOT impacted by halving.

Deserves a line in the monthly income figures?

[aidenabettin] 09/5/2020 09:36

What happens when mining is not rewarded?.Mining will still be required but in 8 years time income will come from mining operations that are connected to exchanges ie Binance.For me I would be looking at Argo linking up with a possible new crypto exchange in the UK and I'm sure plans are already in place..Energy consumption is plummeting in cities so this will be a good time to look at energy contracts to reduce costs

[hootza616] 09/5/2020 09:29

Shame there isn't a direct comparison on mining efficiency between these companies. Can't imagine the electricity cost in New York City.What a silly place to set up a mining operation!The greenest miners should be the most rewarded of course.

[mcfly79] 09/5/2020 00:26

HUT 8 have got 3000 BTC worth about $30m but also $26m of loans payable.

[blackrolie00] 08/5/2020 22:42

Missed out the part where they hold around 3000 BTC

[j4ckthehat] 08/5/2020 22:38

Fools The thing with ARB when you are looking at trades is the bigger numbers look like sells, then you have reams of small numbers showing as buys. Let's have it right buying one share at 5p. Something ain't quite right. I might be wrong but my train of thought was Market Makers walked a share up when a sellers about to draw in the suckers, they drop it or hold it back when there's a buyer, to either frighten or bore holders out of there shares. Time will tell.

[hootza616] 08/5/2020 22:06

Pretty much!As soon as it breaks it could be 19,999 in no time!

[suffersnofools] 08/5/2020 21:28

The problem here is the big seller still.

[mcfly79] 08/5/2020 20:59

Does Hut8 have much additional capacity coming online? I can't see that it does.

[mcfly79] 08/5/2020 20:50

Comparisons to Hut8 make Argo look absurdly cheap.


Hut8 is valued at c.£80m and Argo is valued at £15m (over 5 times the price) yet the capacities are not too dissimilar.


Hut8 have 952PH of mining capacity vs 730PH for Argo (only 30% more capacity).


More importantly Argo are over twice as efficient as Hut8. The Hut8 mining costs in Q4 2019 were $5,092 per bitcoin and since then mining difficulty has increased by over 20% so current costs per bitcoin will be higher, perhaps around $6k. Therefore post halving, even at a bitcoin price of $12k a lot of Hut8's mining will not be profitable unless there is a large decrease in difficulty.


This was highlighted in March this year when Hut8 had to reduce mining capacity by 35% because they weren't making money with the drop in bitcoin price into the $5k range.


I think Argo should be valued at more than Hut8, yet we at less than a fifth of the price.