Argo Blockchain Share Discussion Threads

[idiot441] 02/7/2019 09:20

My take on the action today? The weak BTC price overnight has shaken out some weak hands - that is a combination of those that have bought in the 2s 3s 4s 5s and 6s and simply happy to take profit. As well as those who are not long term believers in crypto. All very healthy and what makes a market.

Could not resist topping up today.

[ragnarr] 02/7/2019 08:08

the markets are still very wary of crypto but that will change over time - current trading figures are nothing short of amazing so long may it continue. Current share price is clearly undervalued but depending on you long/short term outlook thats no bad thing as it gives more opportunity to build and when value is recognised it will stay there. Happy days ahead.

[idiot441] 02/7/2019 07:56

Savvy... it's obscene!!!!

Yes... it's hard to imagine where the numbers will be by year end. And all good with a BTC price at current levels. Let alone further moves in coming weeks and months.

While this may not be a share for "widows & orphans" (As my old bank manager used to say... remember them?)... it's my biggest holding. And will remain so for next year or three. As stated before I believe this will be a multi bagger - from here.

[savvy investor] 02/7/2019 07:39

Idiot, please check my maths. 160 BTC a month, and it is increasing from that as now all equipment live... so that is ballpark 1.2m GBP with mo thlg costs reported as 280k gbp a while back, before the rns about reduced costs!! So that is very close to a run rate of 900k GBP of operating profits? Add to that in the region of 11m GBP in Cash, 3m+ gbp of HW assets, 2.8m GBP of BTC cash. So market cap after all the cash giving a PE that makes my mouth water.... WOW!!

[idiot441] 02/7/2019 07:16

RNS out with June results. Excellent.

[savvy investor] 01/7/2019 19:11

I think there are a lot of smart people out there collecting shares here at prices they didnt expect would last, me included. Doing the sums on the last trading update at 8500 BTC and then factoring in the RNS with massive extra capacity at lower costs, the HIVE law suit finalised, the BTC price 20% higher than 8500 and the update about to be released on trading the cash position and the cash equivalents, forward looking PE... private investors are too short term and looking at BTC price fall back, but look over at a 10day trend price and the upward move looks clear. I firmly believe all ARB needs to get to 10p is the trading update and BTC of 9000 or above. I also believe, but his is more gut feel than share price fundamentals, that BTC will bounce way higher in the next few weeks, surpassing the recent 13800 and then challenging the all time high shortly after. Let's see, but careful about selling too cheaply imho!

[riddlerone] 01/7/2019 10:46

Noticed that this PRNCA news was released at 5pm on Friday so after the markets closed News is surely not yet factored in on HIVE's share price which must also reflect on ARB's share price

[riddlerone] 01/7/2019 10:16

Morning I441 thanks for all your input.I wonder if the reason for the GPU-one strategic investment has anything to do with this paragraph from the article you have highlighted.
" Furthermore, HIVE will assume responsibility for the operation of the Sweden and Iceland data centers from Genesis to itself or a third party, and Genesis will provide transitional services to HIVE to ensure an orderly transition"

[idiot441] 01/7/2019 06:15

The Hive and Argo share swap was originally announced on 13th May and valued Argo at 11.6p per share. Bitcoin was valued around USD7200 at that time.

Hive stock price has massively underperformed since that date due to their pause in mining and dispute with Genesis.

With the matter resolved it's likely Hive will see a very significant move in their stock price.

Surely the Argo valuation should be at least IPO price?

[idiot441] 30/6/2019 19:45

Hive resolves issues with Genesis


Should allow share swap to proceed - perhaps announce as early as tomorrow even?

Long term I suspect we will see an increasingly close relationship.

[savvy investor] 29/6/2019 07:40

Playing golf shortly, read FT with coffee and has huge article very positive overall for BTC. Such that I think weekend will be very strong as this is shared around the respected financial world... let's see, I stock with the quick rise back to 15k on the back of shorts closing out soon....have fun!

[ragnarr] 28/6/2019 10:16

I concur :-)

[savvy investor] 28/6/2019 10:08

If shorts close the recent bounce and those that were trying to close when it hit 13800 earlier in week all go the right way this could go to 15000 over weekend. May not, of course, but I think good chance it will. The trend is towards the old highs of 17k with institutional interest and BTC becoming more mainstream hedge and currency by the day. As many point out ARB is a steal even at BTC 8500 from previous update and following this we have massively lower costs and higher capacity, so don't get caught up with day to dag movement when valuing ARB, imho. I see 10p coming and going in a blink very soon, perhaps even today with those anticipating what happens on Mondag of BTC reacts like myself and others think it will. Good luck!

[ragnarr] 28/6/2019 09:55

Impressive BTC bounce off 1100

[btfd] 28/6/2019 00:02

Roddy think of places like Kraken / Coinbase much like a foreign exchange broker. You send your pounds to your account - you exchange it for btc or ether or whatever.. then send those back to your personal wallet. Same for when you cash in.. send your coins - exchange - withdraw cash back to your bank.

[btfd] 27/6/2019 23:56

420 is a drop in the ocean on the wider market - but a significant amount to own as a company

[btfd] 27/6/2019 23:53

Roddy .I think you've been looking at spread betting or CFD brokers BTCUSD offerings.Crypto is a real market, there are many large scale "exchanges" where you convert your coins or tokens to cash. Coinbase, Kraken, Bitrex, Binance etc. Look at hTTps://coinmarketcap.com/currencies/bitcoin/#marketsThere was 184,000 bitcoins exchanged on binance alone today. Thats over 2 billion dollars worth.

[horneblower] 27/6/2019 21:38

Crypto is very "chart-driven". Bitcoin has just completed a standard three-phase bull run and should come back to $10k at least.
This is still fine for ARB but time for a rest.

[1new guy] 27/6/2019 17:13

Stoneme, thank you for that. I now see what you meant.

[roddyb] 27/6/2019 13:08

I hold ARB. Is it the case if you are a miner, extracting say 420 coins/qtr that it will be a problem to sell them at the market rate? The BTCUSD are bettable pairs rather than someone buying and selling BTC, thus, if we gaily turn up with 420 BTC for sale - that isn't as liquid as we imagine?
The link between the BTCUSD charts and what actually happens when you need to cash in your BTC - are they that close? I don't know the answer as it is unlikely I will actually buy a real token and have a dig wallet - but maybe someone here knows?

[stoneme] 27/6/2019 12:23

Zero traded in the past hour. . Millions in a penny stock is not high volume. The volume of trades is also critical.

[1new guy] 27/6/2019 12:00

Millions traded this week and you want more volume!

[stoneme] 27/6/2019 11:04

Interesting. I'm new here. Having looked at the trend for ARB v Bitcoin it's interesting seeing the lag. . I've taken a punt. . I think to trade this however, we need more volume. Anyone have shared in issue to hand?

[savvy investor] 27/6/2019 10:33

Impressive and needed fall back / pause. I believe there might be a bounce back even more impressive. I have read some I interesting articles, one in particular from financial spread reading firm who believe the shorts are actively trying to close positions from back when the 17k price was found last year that now believe in the rise and the institutional interest in BTC. Let's see... however stating above 10k for a month is all I am looking for here. Anything else is cream on top!!

[ragnarr] 27/6/2019 10:01

Just reaction to bitcoin pullback - it was due