Argo Blockchain Share Discussion Threads

[suffersnofools] 10/12/2020 11:52

Lefrene - it's your ignorance, and that of most of the world, still that ensures BTC has so much further to run.

[suffersnofools] 10/12/2020 11:50

Ragnar - but at least we get to enjoy a repurposed pagan festival on 25th Dec because of it :)

[volsung] 10/12/2020 11:17

Same with money yump. If we stop believing the piece of paper or electronic digit has worth it collapses

[ragnarr] 10/12/2020 11:15

It was probably the wrong time of year for to be controversial - best to stick with facts - oops there i go again

[yump] 10/12/2020 11:11

Its difficult, but I will show extreme self-discipline now and not start on religion, except to say that Life of Brian is probably my favourite film.

[yump] 10/12/2020 11:07

Lets hope shares don't become unfashionable as an investment, as they don't have any intrinsic value. The only real value they have is if they actually pay a dividend. Otherwise businesses are only valuable to their employees.

You can only sell a share because someone else believes they will be able to sell it higher. Remove the belief and it all falls down, Enron style.

[lefrene] 10/12/2020 10:56

Bitcoin mystifies me completely, it doesn't seem to me to be anything at all other than blips in a computer memory, and yet people believe in it. But good luck if you are making a profit off the emperors clothes.

[ragnarr] 10/12/2020 10:44

Bitcoin undervalued sub-$20K, says new report as BTC mimics 2017 bull runBitcoin's market cap to thermocap ratio is primed to repeat bullish behavior, analysis from Stack Funds says.MARKETS NEWSBitcoin (BTC) investors have "not long" to accumulate before a continuation of the bull run past $20,000, a new report says.Released on Dec. 10, the Weekly Report from Asian crypto fund provider Stack Funds predicts that one indicator in particular will follow historical precedent and propel Bitcoin higher.You can buy BTC, but "not for long"According to Slack, the market cap to thermo cap ratio (MCTC) is showing signs of repeating its performance in 2017, the year in which BTC/USD went from under $1,000 to $19,866 on Coinbase.MCTC takes a snapshot of Bitcoin's market cap, then divides it by miners' total revenue since mining began - the thermocap.As of this week, MCTC is around 17, mimicking mid-2017 and lingering in a position from which it has twice heralded the start of a bull market."The ratio is currently sitting at the 17 level, which coincides with its 2019 peak. In addition, the value is adjacent to its 2017 breakout, where it whipsawed around the 20 handle before Bitcoin's rally materialized," the report commented.In its current position, there is thus considerable room for maneuver upwards, which leads Stack to assume that bullish progress will soon continue.Bitcoin MCTC ratio historical chart. Source: Stack Funds"Given that the ratio is still at its lower band, we are skewed to believe accumulation opportunities persists, but not for long before the $20,000 price breakout materializes," it summarized.$19,400 proves stubborn resistanceBitcoin has rebounded over the past 24 hours after sudden weakness ended a period of price consolidation to rekindle lows under $18,000.At press time, BTC/USD circled $18,300, with traders watching for signs of definitive support returning.As Cointelegraph reported, however, little sign of definitive buyer support above $16,200 is evident from exchange orderbooks, with $20,000 still remaining a make-or-break resistance level.

[suffersnofools] 09/12/2020 21:23

Yump - doubled edged sword for sure!

Nice little NQ short today :)

[suffersnofools] 09/12/2020 21:18

A lot of the alts having a strong run this last hour so, Stellar, XRP, ETH....

[sideshowbull] 09/12/2020 17:24

BTC did fall out of my channel however still bull flagging.


BWTFDIK

[sideshowbull] 09/12/2020 17:20

Worth a watch.

[yump] 09/12/2020 15:31

Bitcoin isn't for those of a nervous disposition is it ? all over the place atm.

[yump] 09/12/2020 13:16

suffersnofools

We do agree, I thought you were just saying they were correlated.
Roll on the gearing. Or not, depending on which way it goes.
Better be careful what I wish for !

[horneblower] 09/12/2020 10:55

Maybe. Or a shot across the bows?

[suffersnofools] 09/12/2020 10:38

Was that the final flush out before moving higher? A bit of res 18350/18400.

[suffersnofools] 09/12/2020 09:57

Oakville - 17600 was the level for me and it's held so far.

[suffersnofools] 09/12/2020 09:47

Yes percentage movements - is there another kind?

ARB and BTC will be directly correlated in the mid range of ARB profit/margin range, with ARB becoming exponentially correlated at the lower and upper bounds. So for instances, if BTC price drops close to ARBS fixed costs then ARB will fall MUCH faster than BTC as it risks becoming unprofitable. Likewise, during periods where BTC rises quickly, outpacing increases in mining difficulty, ARBs gearing will cause it to rise faster than BTC.

I don't see any point where it will move LESS than BTC apart from Company specific operational issues.

[yump] 09/12/2020 09:07

I was talking about the percentage movements. Clearly its correlated and geared.

However the gearing upwards hasn’t kicked in yet and the movements at the moment are similar percentages to those of ARB.

Early days yet though. A dividend at some point might cause it to be assessed more as an investment. Or perhaps just a track record of earnings growth.

[topazfrenzy] 09/12/2020 09:01

I grabbed some at 10p will add more if it goes down further

SP should be at 20p+ in any case, BTC near all time highs and we are at 10p lol

[suffersnofools] 09/12/2020 08:57

Plus on top of that ARB is highly illiquid with a wide spread that further exacerbates buys and sells influence on its movements.This is going to be a rollercoaster :)

[topazfrenzy] 09/12/2020 08:57

Good opportunity to add under 10p before next leg up

ARB is still raking in the money month in month out keep your eye on the prize

[suffersnofools] 09/12/2020 08:55

It won't disengage.It will continue to behave like a junior metals miner. ARBs profitability is directly correlated to the price of BTC. Then add in the gearing caused by margin of profit relative to fixed costs and you can expect ARB to me MORE volatile than BTC.