Argo Blockchain Share Discussion Threads

[aidenabettin] 18/1/2021 13:02

$BTC is for HODLING not SELLING

[suffersnofools] 18/1/2021 12:55

The world is run by Mice as Douglas Adams (RIP) proved.

[1new guy] 18/1/2021 12:54

My understanding is Lamborghini take bitcoin. As does Gulfstream. Also PayPal, of course. So you can buy that BMW with your Paypal account!

[aidenabettin] 18/1/2021 12:53

Are you saying we dont have aliens running the world?.Green eyed aliens who steal your money and hide it away out of sight so that it cant be used to alleviate poverty.Aliens are Very greedy

[suffersnofools] 18/1/2021 12:49

2tyke - that's still a minor level.

BTC is BTC so I don't have any fixed ideas either way in the short term. I just follow the price action. Long term it's going up. Day to day it's a crazy horse!

[yump] 18/1/2021 12:48

I seem to remember gold was given value by speculators and that seems to still be here.

[2tyke] 18/1/2021 12:46

SNF

Don't even see it getting over 37.8 short-term.

[yump] 18/1/2021 12:46

"Intelligent design". Eeeeeek !! If it is, its by aliens not a god. Something for another board though !

[suffersnofools] 18/1/2021 12:46

'floored' - lol - you're doing my job for me ;)

Don't hurry back on my account!

[brasso3] 18/1/2021 12:45

I love it when the experts (PWhite) turn up! lol

My mum knows more about BTC than him!

[pwhite73] 18/1/2021 12:45

SNF

My arguments are not floored. I understand fully what bitcoins are about, the principles behind block chain and how greed and fiat money has changed the whole cryptocurrency project into a speculative asset.

Speak later

[suffersnofools] 18/1/2021 12:44

The irony being that it's the very LACK of government backing that makes BTC valuable.

Keep going PWhite and we'll keep showing you up for what you are.

[pwhite73] 18/1/2021 12:40

pogue - "If I hold some of my bitcoin with Paypal, they have stated they will be accepting Bitcoin"

An increasing number of organisations are accepting BTC coins as it gains traction among speculators and people with money. Nothing special about that. I know its hard to get your head around but because its not owned by the government it has no legal status. You can't pay your taxes in bitcoin. However if you do make money trading bitcoins you have to pay capital gains taxes in fiat currency as you would on any other asset.

[suffersnofools] 18/1/2021 12:39

PWhite - to have a healthy two way debate both sides of the argument have to have some validity. Your arguments are flawed and have been completely debunked.

I recently had the same coversation with someone who wanted to debate their belief in "intelligent design' versus mine in natural selection. I'm sure you can appreciate the parallels :)

Suggets you lurk here rather than post and try and improve your understanding of crypto.

[nico115] 18/1/2021 12:34

Different views make a market I'm a bitcoin bull but 80pct of my friends hate it and that makes me like it even more With the dollar depreciating and stimulus increasing at a rapid rate the environment for Bitcoin is perfect I will sell all my bitcoin in May/June and my Argo at 200p unless SNF can convince me his 36qd target is achievable !!Lunchtime xxx

[yump] 18/1/2021 12:34

You can see why ARB have a stake in Luxor.

I'd also completely missed that ARB are managing 4000+ machines for a third party in return for a fee.

Nov 5th. "In addition to the purchase of machines to be leased to Argo, the Company has partnered with a third party which has purchased a new fleet of 4,378 miners to mine for its own account. These units will be delivered in February and March 2021. Argo and the third party have entered into a managed cryptocurrency mining services agreement whereby Argo will be managing the mining operations of these machines. This managed cryptocurrency mining services agreement will have an initial term of 24-months, and Argo will receive a monthly fee for these services."

[nico115] 18/1/2021 12:31

Great stuff YumpWith you doing the micro and me the macro what a great team !! : )We can call it Yump and Lump (I've put on 2 stone in lockdown !!)

[pwhite73] 18/1/2021 12:30

nico115.

It is a decent board and can be kept decent even when people disagree on the fundamental values and working principles or BTC so long as we are all remain civil to one another. I'm only here discussing my views on BTC because of the recent pullback and placing announced today. Too many here do not understand what BTC is about. They think is an alternative to current fiat currencies it is not. If the government don't own it then its the same as any other speculative asset that can go from 0p to 1000p and back 0p.

[nico115] 18/1/2021 12:29

5m bucks easily

[yump] 18/1/2021 12:29

Just spent a while on spreadsheets - let me know if anyone wants a thread just with data in the header... these are all in GBP:

I've taken network hashrate increasing by 50% this year, based on historical rise roughly.
So taking 90 btc mined monthly, that will reduce to 60 by year end.
I've made the decrease linear.

Starting with 645 petahash mining 90 btc.
Then adding 430 from March (+65% of the 645)
Then adding 610 from July (+95% of the 645)

That got to 1700 btc at year end.

My depreciation figure was wrong, I reckon as follows:
6mln (the 645)
3.7mln (the 430 leased over 2 years)
7.5mln (the placing machines over 3 years)
Total: 17mln.

With BTC at GBP 25K and 60% margin, I get roughly 40mln revenue and 5mln profit
At 70% margin: 9mln profit.
With BTC at GBP 35K and 60% margin: 17mln profit
At 70% margin: 23mln profit.

Whatever else happens it shows how margin (efficiency) and btc price have a dramatic effect on profit.

Particularly efficiency.

[pogue] 18/1/2021 12:26

PWhite73
you said
'No its not and this is the difference between fiat currency and BTC. You can only sell or exchange BTC to people who are prepared to accept it.'

If I hold some of my bitcoin with Paypal, they have stated they will be accepting Bitcoin, they convert it into the local currency at the time of purchase if a retailer so wants and I make the purchase in fiat but while I hold Bitcoin it does not devalue compared to the fiat issued as toiled paper by the government. Again post war Germany people withdrew their wages on the day they were issued, in wheelbarrows, and spent them immediately as tomorrow they would be worth less no such problems with a limited supply store of wealth that cannot be devalued by free spending governments eg bitcoin and gold.
History/precedent proves me right your are just putting forward theories that have no basis in reality.

[kcowe] 18/1/2021 12:26

47k btc is what arb price?

[lukehold] 18/1/2021 12:26

It everyone puts 1% of their portfolio into Bitcoin. As I keep hearing is the thing to do. What will the value of the 21m Bitcoin reach..

[nico115] 18/1/2021 12:24

I hope no one listened to the bitcoin doomsayers calling for 27k bucks As I said the weekend 33k or thereabouts was the buying level Onwards and upwards now We post new buy and sell zones after lunch I've got a couple of PM thanking me for my contributions here .Its a pleasure.Compared to many other boards we have a pretty decent bunch here

[kcowe] 18/1/2021 12:19

BTC = trust ...$700bln of trust ... the wealthy are running to it to preserve their wealth.. as Raoul Pal says BTC is eating the world ..and it is ..