Argo Blockchain Share Discussion Threads

[fuji99] 20/9/2019 14:07

ARB going up as many are realising now this is a cash cow.
Bitcoin has now reached a critical inflection point to possibly visit new highs.

[liveit2] 20/9/2019 13:56

let me buy some usd - the world will never run out - fed keeps printing it - $200b thi week - it all feels like 2008

[ssrover] 20/9/2019 11:29

stoneme visiting them you could have all your questions answered

Also speak to justin waite maybe he could ask them questions in an interview?

Justin Waite
@SharePickers

[stoneme] 20/9/2019 11:17

As a investor I have previously benefited from the opportunity to visit company's operations. Not sure in this case that is what I am seeking. I continue to hold a substantial amount of stock, and have been trading more in a range, but have since stopped until I understand the accounting better. It is the forecasting, reporting and general accounting I am seeking guidance on. ROI / Productivity, offering more transparency on cash generation. Of course if these guys can spend £10m on hardware, and generate £20m from that investment in X months, the only questions which then remain are depreciation (of the hardware) and cash conversion policy. As said, I am trying to calculate the BTC monthly production against investment. The quarterly announcement in October will provide some clarity I am sure. If they were generating c. 160 BTC from 2/3k machines in June, I would expect to see between 500 - 1000 BTC mined in Q3 figures depending upon the timing of the new machines being productive. They now have 6,000 machines in production. It is why, reporting BTC per machine would be a very useful guide.

[pecuniarum copia] 20/9/2019 10:49

Article by Wolfie Zhao
Jun 27, 2019 at 03:30 UTC Updated Jun 27, 2019 at 12:28 UTC

It’s Now Harder to Mine Bitcoin Than Ever



...Bitcoin is designed to adjust its mining difficulty every 2,016 blocks (approximately 14 days), based on the amount of computing power deployed to the network. This is done to ensure the block production interval at the next period will remain constant at around every 10 minutes. When there are fewer machines racing to solve math problems to earn the next payout of newly created bitcoin, difficulty falls; when there are more computers in the game, it rises.


ALSO

19 Sept.2019

[ssrover] 20/9/2019 10:46

stone me.. how about taking a trip to quebec to have a meeting with the team and speaking to them direct... will cost around £2k if they agree to it but maybe worth the expense

[aidenabettin] 20/9/2019 10:46

BTC is primed and ready to take off

[aidenabettin] 20/9/2019 10:40

hTTps://cointelegraph.com/news/bitcoin-hash-rate-hits-102-quintillion-in-historic-network-milestone

[aidenabettin] 20/9/2019 10:37

Keep your BTC safe and loan it out. Keep your investment and gain both ways as the price rises at the same time gaining interest

[stoneme] 20/9/2019 10:34

If you are referring to my posts, which have zero to do with BTC, and everything to do with financial forecasting and reporting, rather than make a rude comment, why not share your expert understanding to help a fellow investor?

[zed2002] 20/9/2019 10:31

I agree Aidenabettin. Imagine selling btc mined when it was $4k, $5k, $6k knowing you could have sold at $10k. Im glad they not sold BTC as everyone currently bullish on Price at the moment.

[topazfrenzy] 20/9/2019 10:29

Many just don't get crypto at all on this board ... noobs

[aidenabettin] 20/9/2019 10:21

If you have BTC this is 100% not the time to sell

[homebrewruss] 20/9/2019 10:14

Stoneme agree on the clarity of reporting.

I was trying to 'quickly' calculate how many btc they can currently produce per month since the update yesterday but am struggling to work it out.
In the interims they said:
'Generated GBP1.4m of cryptoassets in June 2019 from a total of 5,000 machines in production at the end of 30 June 2019'

but previously they said at the beginning of July:
'installation of new mining gear continues apace with 1,000 Z11 and 1,809 S17 Bitmain servers currently in production at Argo's Quebec facilities, ahead of the Company's original schedule'

'The Company now expects to generate 161 BTC, or GBP1.38m of cryptoassets, in June based on a BTC price of $10,817.16 USD as of 30 June 2019.'

I guess that means they had some machines older than the '1,000 Z11 and 1,809 S17 Bitmain servers' which made up the total of 5000 machines? Not sure..

At the least what would be helpful is if each time they install new machines they could tell us what the new petahash capacity is.

[stoneme] 20/9/2019 10:11

That is not the question. I am looking at productivity in the main, and their forecasts. ROI is key. It's all well and good reporting earlier ROI, but when much of that was due to a higher BTC price it's trying to look through the noise.If a company forecasts producing X, does not deliver, but uses prevailing yields , which are not in their control, to announce better returns, it leaves me feeling deflated.As I said. My aim was to forecast BTC production through 2019 Q3 to 2020 Q1. . I can make my own judgement on BTC price and dollar / sterling exhange rates. Personally I would prefer them to start reporting BTC price as Sterling, saves me a step. It's is hugely difficult to forecast if the information historically is unclear.

[homebrewruss] 20/9/2019 10:08

Bitcoin about to breakout?

[topazfrenzy] 20/9/2019 10:03

stoneme, it's very easy for them to convert Bitcoin to USDT or USDC (or similar), so turning it into fiat is not necessary in order to hedge the price of BTC.

[topazfrenzy] 20/9/2019 10:00

Next week could well be the biggest week in crypto this year, stay out and really lose out is a real possibility.

[stoneme] 20/9/2019 09:59

My other question, which remains open, is linked. Are they disposing of any BTC? Look at the forecast production, and held BTC at half year. Look at the cash flow and balance sheet. I cannot see where to see any disposal or use of BTC to purchase new equipment. It's like needle in haystack, which is making me nervous. For the share price to rise materially we need to have visibility of cash conversion from the BTC Production. So far we have lots of cash used to purchase new equipment, with forecasts on BTC production, but nothing about cash conversion. Looking ahead. We may end up with a huge carry value for BTC on the balance sheet (production of BT should be up more than 100% from Q2 to Q3), reducing cash balance, and as such reported results will be hugely sensitive to a point in time BTC price.At the interims they used 30th June. Let's say 31st December BTC price just happens to be off the previous 6 month average, would they use the point in time BTC price, or report based on BTC average price? As I mentioned in my earlier post, having transparency of mined coins per month, against operational machines would allow investors to look at the rate of return per machine. They can then report as they wish, so long as the reporting method is consistent.

[pecuniarum copia] 20/9/2019 09:58

Article about Bitcoin mining

[pecuniarum copia] 20/9/2019 09:55

Article about the next Bitcoin "halving" event due May 2020

[stoneme] 20/9/2019 09:45

I am sure someone here can help me with the chronology of announcements re: forecast BTC mined and expected value of BTC on balance sheet at the end of Q2.Look at the various announcements, and the BTC price used to forecast value held. Then work forward.Especially look at the announcement made 8th May, 3rd June, where respectfully they forecast having 400 and 420 BTC on balance sheet at the end of June.Then look at the interim results statement, where they state BTC held. It is confusing, as they use $ to calculate their forecasted BTC production value, and of course report £ in the results. But even allowing for Exhange rates, I cannot see they have delivered their forecasts. 420 BTC on balance sheet at 30th of June, at $10,817 would equate to c. 3.6m Sterling. Finally, they state they use a combination of cash and BTC to purchase new equipment, but again it is unclear what proportions are used.What is clear to me is that they need to come up with a better way to transparently report production. We all know they are growing, they are declaring efficiency is improving, yet without knowing how many BTC per machines are produced, taking away the noise of variable BTC price and exchange rates, it is becoming difficult as an investor to accurately forecast their future earnings.I have a spreadsheet, which I was seeking to use to look at yields from machines. . It is not easy with these announcements, which seem to use different approaches to report performance. As I say, I am sure someone here will help me understand their dynamics better.

[aidenabettin] 20/9/2019 09:41

hTTps://www.thehalvening.com/