Argo Blockchain Share Discussion Threads

[suffersnofools] 17/12/2020 16:58

Not a bad day in crypto land :)

[uapatel] 17/12/2020 16:03

Buying in the 15p zone. Wonder if we will close above that today.

[topazfrenzy] 17/12/2020 14:51

Took some money off the table on a few of my crypto holdings ... BTC may keep going to $25,000 still (or higher) but good to lock in some profits when the times are good :)

everyone going berserk in the press, even the bloody Guardian is onto it, and we know what often can happen next lol

GLA

[topazfrenzy] 17/12/2020 14:02

Stellar is one of my favourites too, you can never own enough of that one

Keep accumulating Zcash too, it is like Bitcoin really but has a hidden feature, and is capped at 21m in total, now standing at 10.7m in circulation, and it halved last month, Grayscale are hoarding that one too

[avc0nway] 17/12/2020 13:00

Yes, Brasso. $23,160 at 12:58 UK time.
avc

[brasso3] 17/12/2020 12:49

Is BTC gearing up for another go at $23k...

[mattybuoy] 17/12/2020 12:05

yump,

It is tricky to explain isn't it? :-)

I am very interested to see what the mining difficulty does at the next change (around 27th Dec). This can help with working out what spare mining capacity there is available. If spare capacity is limited then ARB should benefit enormously. A stable diff combined with increasing BTC price = mucho gravy (or chocolate).

From the chart on the page below it looks like the diff has spiked recently but then dropped off a bit. Hard to conclude anything at this point.

hTTtps://btc.com/stats/diff

[mnomis] 17/12/2020 11:57

£1 sounds good for a 3rd target after hit 50p next target.

[yump] 17/12/2020 11:43

I was asked over the weekend to explain this to a mate and as we both worked in chocolate years ago it went like this:

Imagine a production line where your equipment repeatedly needs replacing within 3 years, because it becomes uncompetitive. Also, the price you can sell your product at varies by large percentages that you have no control over.

There are loads of other factories with a suction line to a massive chocolate tank and if their production is more effective, they will have a better supply of chocolate and your's will drop. Also, your energy costs jump about, depending on how efficient each bit of your production line is.

That didn't seem to make it any clearer though ;-)

[brasso3] 17/12/2020 11:32

We have about 20 different posters on here at the moment. It is very much under the radar.

[yump] 17/12/2020 11:31

Why not £100 based on my imaginary metrics. In the real world, the best thing for ARB is the stabilisation of BTC price, so that ARB can have a whole year of increased contribution at a much higher BTC price, from a relatively fixed cost base that was paid for at a lower BTC price.

[gspanner] 17/12/2020 11:30

There is quite a chance of an AIM mania on this one so much >20p in short order IMO, all about momentum!

[36jay] 17/12/2020 11:21

£1 initial target.Huge potential and way under value.Just a start.

[yump] 17/12/2020 11:12

Isn't a break like this supposed to end up the same % above 10p as the % it moved from its start (7-8p) or 5-6p. That's from a nice old book on charting I remember reading years ago.

7p to 11p - roughly 50%. So 15p, unless its 5p to 11p... in which case 20p.

Waits for snf response ...
;-)

[mnomis] 17/12/2020 10:52

Full disclosure - just offloaded 27.5% of my ARB exposure at 14.74p to have a zero cost position, as 15p was my stated next target. Not much compared to some of the people on this board, but still hold 145,000 now at zero cost (was 300,000 at peak when was buying down in the 3p level, first buy at 6.5p back in January). Feels good to be in this position following March, although of course in hindsight would be great if bought more in the 3p level and did not sell those back at 6p / 8p on way up.

Next target 50p - and buy on any big dips.

GLA.

[mattybuoy] 17/12/2020 10:30

Interesting article.



"77% of all Bitcoin ever mined is just sitting in inactive wallets."

“That leaves a pool of just 3.4 million Bitcoin readily available to buyers as demand increases.”

Imagine a FTSE100 or Dow company with only 3.4m shares in the free float ...

Also, if you have more than 0.1 BTC in your wallet you are part of a very small (miniscule) group on a global basis. One of only 2.75m people (or institutions). That is way less than the number of millionaires in the world.

The bull case here is just ridiculous :-)

[brasso3] 17/12/2020 10:19

ARB must be at around 200 BTC now in reserves. That is around $4.6m at these prices. I would imagine they have around $1m in cash too for running expenses. All set for a monster 2021...

[ragnarr] 17/12/2020 10:15

itcoin price hits $23K as on-chain analyst says $55K is the 'next landmark'The price of Bitcoin has cut through another critical resistance range putting $100,000 in play, on-chain data suggests.Bitcoin price hits $23K as on-chain analyst says $55K is the 'next landmark'MARKET ANALYSISThe Bitcoin price (BTC) has surpassed the $21,000–$22,000 resistance range to rise above a new high of $23,000 on Dec. 17. Meanwhile, on-chain analyst Willy Woo now says $100,000 is a "ridiculously low" target.BTC/USD weekly chart (Bitstamp). Source: TradingviewThe $21,000 level was particularly important for Bitcoin to continue its rally in the near term. Exchange heatmaps showed stacked sell orders at around $21,000 to $21,500, which meant BTC price had to break through to see a broader uptrend.The Bitcoin Top Cap Model puts $100,000 as a conservative target. Source: Woobull.comBitcoin enters price discoveryExchange heatmaps show no visible resistance levels and areas with large sell orders above $22,000. In the short term, this means the probability of BTC continuing its rally is high.Due to the optimistic market sentiment and the sell-side crisis, Woo said the BTC Top Cap Model shows $100,000 is a "ridiculously low target." He said:"We are not at the all-time-high juncture where the BTC Top Cap Model starts curving upwards. Let's see how high she runs in 2021. $100k is a ridiculously low target at the current trajectory. $55k is the next landmark -> Bitcoin becomes a $1T macro asset bucket."Woo emphasized $55,000 as the milestone price for Bitcoin because it would mean BTC would have hit 10% of gold's market cap.Currently, gold's valuation is estimated to be around $9 trillion. Above $50,000, Bitcoin would begin eating up a relatively large portion of the market cap of gold, which remains the dominant safe-haven Exchange order books and volume trends also show that traders have moved their sell orders higher, expecting Bitcoin to rise to $30,000 after $20,000 was finally breached yesterday.If the momentum of the futures, options and spot markets gets sustained throughout the upcoming days, the probability of BTC hitting $30,000 as the first local top remains high.

[brasso3] 17/12/2020 10:03

Nice little shake out. :)

[ragnarr] 17/12/2020 09:59

Spot on sn ;-)

[aidenabettin] 17/12/2020 09:40

$1.8k drop in a second. Be careful

[suffersnofools] 17/12/2020 09:18

These sharp moves aren't good for ARB - we'll move higher with steady increases

[gspanner] 17/12/2020 09:18

So 10% in a day, that didn’t take long.