Argo Blockchain Share Discussion Threads

[parsons4] 08/10/2019 11:19

Wow where did all these stupid people come from ? I cannot understand why ARB are not running ahead. The only slight worry I have is if they have decided that they want to expand more quickly. So they are talking to some investors (including a few initial ones) about a possible fund raise to pay for the balance of the machinery. That let's the boys in cheaply (at say 8p)which often happens at the beginning of a good story. Examples are VRS.BIDS IQ-AI and NFX. This would explain the shares lack of movement !!!

[sunnysideup1] 08/10/2019 10:47

If you read the quote from mike Edwards it is clear they are not holding much bitcoin. It says clearly they are converting bitcoins they earn into cash.

[stoneme] 08/10/2019 10:29

I think I am clear.Monthly management accounts are not audited. The Q3 statement would have been signed off by the non executive directors and nomad for sure. But as I said. It is sufficiently vague so as to not misrepresent, whilst sufficiently bullish to satisfy the market. That usually means there is more to the story.

[suffersnofools] 08/10/2019 10:18

I've no more idea than you do. But as I trust the management I'm assuming one that the auditors will approve of.Are you saying it is inaccurate?

[suffersnofools] 08/10/2019 10:15

The clue is in the moniker.Happy to hear bull or bear arguments, the caveat being they have to be well though out. If someone fails to grasp the concept of mining difficulty, they're going to get short shrift. This is a high risk, leveraged play on an asset that might not exist in years to come. Yet people are here trying to scalp 20pc! The risk and money management of some investors beggars belief. I can get 20% out of FTSE100 stocks....

[suffersnofools] 08/10/2019 10:08

Is stating of the obvious a speciality of yours or have you taken a course.Hardware depreciates? Who knew?

[supercity] 08/10/2019 10:07

So none of the posters who like to snap back at any comment that isn't along the lines of bitcoin going in to orbit are not even a little bit skeptical as to why after updating June and July so concisely they are now being very vague as to how many coins they have sold or mined and at what price and how they come to their 3.6m calculation.The same posters who three weeks ago were happy to diss the posters who said they clearly have to sell the bitcoin by saying they shouldn't and should be stock piling it but now say it's great they are selling it.(Rolls eyes)

[stoneme] 08/10/2019 10:07

That is a good point. I am not dodging it. The challenge is a lack of depth to that reporting IMO. In that none of these companies have been around that long as listed entities. It makes valuing them very difficult. Thus why having as much information as possible is better for investors.

[stoneme] 08/10/2019 10:05

Sorry. No true. Read my earlier posts, when I held. I had been raising these red flags before. I have contacted the company and was assured all would be updated in next statement. Look at the depredation policy for the hardware purchase. As we all know these will need renewing. All IT depreciates, but BTC mining machines become inefficient faster than most hardware.Revenue recognition policy is critical to any company. In any company I invest in I want as much transparency as possible.Why do they not offer complete transparency if everything is so perfect? I bet they use BTC AVERAGE price to book revenue. BUT when their accounts are audited, they will have to adjust this based on the BTC price at the end of the period subject to any BTC they have sold, which of course will be converted to cash, or reinvested in the business.

[suffersnofools] 08/10/2019 10:00

.....and still dodging the sector peer and relative valuation question I see :)Argos current performance justifies 30p per share based on CURRENT sector multiples. Just a matter of time.

[roger207] 08/10/2019 09:51

Why no updates on the outstanding cash in their account? Getting less and less, I guess without a clear statement from ARB.

[stoneme] 08/10/2019 09:50

Sorry. You are wrong. Point me to where we can work back with the numbers to calculate how many BTC were mined?We have variables. We do not know how many BTC have been sold, and at what price.The change in policy occurred in Q3. At their last update they had no sold any. You cannot base Q3 results on AVERAGE BTC price. The end of Q3 result should be based on the VALUE from mined BTC. That's your revenue. If they have sold none. That is the BTC price on the 30th Sept. if they have sold some, it is whatever price their were sold at.

[suffersnofools] 08/10/2019 09:46

Is that so Roger? So you've completely changed the blockchain proof of work algo?Care to explain how?

[roger207] 08/10/2019 09:43

supercity- I highlighted the risk of less productivity by having more machines. The crypto mining productivity is driven more by sophisticated software more than keep adding machines.

[lithological heterogeneities] 08/10/2019 09:43

Clearly nothing inside his head

[suffersnofools] 08/10/2019 09:43

Ffs - seriously? Why are you posting on a crypto stock when you don't even understand about mining difficulty rates?It's like the Darwin Awards ceremony around here this morning :D

[stoneme] 08/10/2019 09:43

Sorry. Where do you see them using the 9k BTC price in this update?Surely balance sheet has to aligned to current BTC price?If BTC was 50k when they mined, but they do not sell and is now 8k and they mined 1000 coins, the revenue (after balance sheet adjustments) is 8m. (Then convert your sterling if using a dollar to calculate BTC price)

[suffersnofools] 08/10/2019 09:41

Maybe the CASH they earned from that crypto?Do you think before you write or just write down whatever comes into your head?