Argo Blockchain Share Discussion Threads

[ragnarr] 14/11/2019 09:20

Heres food for thought.Crypto Spending Will Open Floodgates, Pushing Bitcoin Price 30x in 4 Years and Into the Millions, Says Billionaire Tim Draper Innovation is the key to Bitcoin's tipping point, according to crypto bull and billionaire Tim Draper.Joining a Q&A session at this year's Malta AI & Blockchain Summit, the venture capitalist identifies all types of Bitcoin spending via the Lightning Network and similar protocols as the catalyst that will push the price of Bitcoin higher and higher, grazing $250,000 by 2022 or 2023, nearly 30x from its current price of roughly $8,668.Draper, who purchased about 30,000 Bitcoin at $632 per coin in 2014, predicted earlier this year that Bitcoin would nab 5% of the world's assets. He's doubling down on his insights into the evolutionary technology and now says Bitcoin can grab 20% of the world's currency.Says Draper,"It's because of Lightning Network and OpenNode and maybe others that are allowing us to spend Bitcoin very freely and quickly so that it's not just a store of value but it can be used for micropayments. It can be used for retail. It can be used all over. And then, boy, I believe long term it's going to be 20% of the currency of the world and that could mean that it's in the millions – the price of Bitcoin."Draper is a legendary venture capitalist who follows tech trends and has invested in several transformative companies such as Skype, Baidu, Hotmail, Tesla, SpaceX, AngelList, SolarCity, Twitter, DocuSign, Coinbase and Robinhood.He adds,"I think Bitcoin payment processors are really going to open the floodgates... and I continue to believe Bitcoin is going to hit $250,000 by 2022 or 2023."

[blackrolie00] 13/11/2019 09:25

Hm tempting at these levels .. very

[parsons4] 13/11/2019 07:45

Roddyb a very good discussion site with both sides of the argument well put !! For me the only worry is the constant weakness of the share-price. Ragnarr has it right IMHO, if you look at the current price, the huge increase in the number of machines to be put in, then the halfing won't affect the income to the downside. If the BTC price rises then profits could soar. Either way the value of ARB doesn't make sense. I added yet again yesterday.

[parsons4] 13/11/2019 07:45

Roddyb a very good discussion site with both sides of the argument wee put !! For me the only worry is the constant weakness of the share-price. Ragnarr has it right IMHO,

[ragnarr] 12/11/2019 17:16

just want to add that my previous post was all about on BTC around 8000 USD or lower - If BTC goes to, say 16000 USD revenue will be circa £10m per quarter - even after halving.

[john henry] 12/11/2019 16:45

Stone me I don’t think u understand the mechanics of bitcoin.

Look at it in regards to an anti inflationary commodity.

[scottman72] 12/11/2019 16:25

Precisely. You only need to scroungers for money from shareholders if you're running without profit.
There's no chance of ARB needing other funds additional to the mining operation.
However, I beleive that it would make a difference to share price if they returned something like 5% of profit per annum dividends.

[ragnarr] 12/11/2019 15:54

please ignore spelling errors - fat fingers

[ragnarr] 12/11/2019 15:53

The October update stated £3.63m revenue from 6000 machines in Q3 with. 73% margin. During this time the average BTC was around 8000 USD.So firstly BTC has to crash to around 2500/3000 before Argo are loosing money which, whilst not impossible is unlikely at best.Regarding the halving of BTC - they have stated that 17000 machines will be love before that event so effectively trebling revenue (before the halving) but even after the event the revenue will be in the region of £5m per quarter - granted the margin will drop.There is no chance of needing more money (imo of corse)

[roddyb] 12/11/2019 15:52

I think we have encapsulated the two sides of the debate there quite nicely. I have added a small holding as the scenario is due to play out and no-one here can have any confidence which way it is going to go - c'est la vie.

[hootza616] 12/11/2019 15:12

Stones, your analysis is sound for a bear in this market, however there are some positive notes.For one they are making a clear profit and will do so until BTC is much much lower. Compared to their peers they are more profitable and so will continue mining while others may leave the industry if rewards do fall.This should provide a better chance of mining rewards and so increase profit.They have a sound growth target to be the largest listed crypto miner in 2020.So I see a profitable company making cash for possible dividend rewards even if the price of BTC falls.If BTC is here to stay then profits for ARB are assured. IMHO

[stoneme] 12/11/2019 14:59

Precisely The other thing that got me was my concern for them not declaring how many BTCs they had sold. All the bullish BTC admirers were saying - They are not selling them as they are holding for BTC higher prices. Then, without explanation, the company announces it is selling coins it has mines. It's is clear they had no policy for BTC treasury management IMOSo what now for them? They have to spend more to mine a coin. At halving, that doubles. What if BTC does not double? What if BTC crashes? The risk increases, and there is no way back for ARB. They are left with a mountain of hardware, locked in to a utility contract, and will need to raise cash at a discount to keep going.Ok. In the opposite scenario, they relatively mine more coins, and convert to cash at a premium.My concern was 1, No clear policy for BTC conversion, and just as important, lack of consistent transparency in operational performance.

[roger207] 12/11/2019 13:08

What's the point to announce 7,000 machines in production with giving productivity figures, in October for example.

[roddyb] 12/11/2019 13:05

Stoneme - I could not agree more. I bailed after that spike to 9p and after reading the enthusiastic BB contributors I had some doubts that I bailed too early.

Bitcoin is not a good Mistress - no-one predicts its movements and it has defied the top-rated predictions on tradingview. This company has been clear that it is going flat out for purchasing a huge number of mining machines and in that time Bitcoin might go up or, as currently the case, go down. Dividends or some other form of shareholder return is some way off.

As Topazfrenzy likes to refer to me as a dinosaur - I remind him that his predictions are bold and the future of this company is not a sure thing as the share price is telling us currently.

21m coins is the end figure, of which 18m have already been mined. 184 days until the "halving"...

[stoneme] 12/11/2019 10:29

Not so sure that is the reason.If this was such a bargain at this price, there would be buyers. Too many on this board are in love with the share. That is a dangerous place to be.Like savvy, I have been in this heavily, but once the BOD gave less clear updates about productivity, and BTC heat had subdued, it was time to sit it out.

[hootza616] 12/11/2019 08:32

Anyone have any idea how much the sellers have left to sell?Will we see the end of it by Xmas?

[parsons4] 12/11/2019 06:55

topazfrenzy I also just had a good look at the website, which is very good and informative. This company has never really got off the ground since its 16p issue and huge fall in the first few months. There is constant selling but I really do believe the shares are hugely undervalued. There seems to be a big part of the "financial community" that think the "CRYPTOS" will ultimately fail, but because it is a "world currency" it is going to be very difficult for governments to control. The whole concept of the blockchain is IMHO genius as throughout the world currencies are being printed and manipulated !!!! The BOD seem top quality, what is there not to like about this company ????? I will be increasing my holding AGAIN today GLA

[john henry] 11/11/2019 22:28

The share price isn't pricing in anything at present, price is where it is due to the 0.1p sellers.

[savvy investor] 11/11/2019 16:57

I have been watching for some time, fascinating share which I owned lots of until 3months back. I got nervous, but could be tempted if it falls to 5 again. One thing that is often discussed is the halving. To be balanced you have to remember even of bitcoin goes to 18k that would mean the same payout as they get now as approx half the mining rewards, so be careful not to confuse 18k post halvjng to 18k now. Clearly still very profitable at current levels! I believe the share is starting to price ib BTC NOT going crazy upwards, it doesnt have to (yes it might) but a balanced view of the Investment financials here must look at BTC of 4.5k - current price after halving, with upside or downside on BTC movement from here being halved. Some will win or lose big here no doubt, I continue to watch with interest.

[scottman72] 11/11/2019 14:02

Added to it that the new futures contracts on friday almost matched the new coins being mined.
I.e. all surplus is being snapped up.
So from a supply demand standpoint the pressure is on BTC to rise and thus Argo

[topazfrenzy] 11/11/2019 10:46

Bitcoin halving still not priced in whatsoever, expect sudden surges soon

Incredible that we are able to buy this at these levels still ...

[topazfrenzy] 11/11/2019 10:22

Great fresh website, just took a look again

hxxps://argoblockchain.com/

[topazfrenzy] 11/11/2019 10:19

It's those two big sellers holding it back, but it'll soon take off into the stratosphere, be assured