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That's not how that works
That's the size of the transaction, not what canoepool got paid for facilitating it.
holding support despite wall
no panic selling that ive seen
We don't know that that conversation even happened.
Anyone can just write some text...
'newly minted coins' is what you want to pay attention to
BTC miners get paid coins for solving math problems, which are used to confirm the validity of BTC transactions. That's the super-abridged version anyway.
Confirmations refers to other computers confirming the transaction as well. For a bitcoin transaction to go through, >50% of computers that are trying to solve the math problem associated with it need to confirm it.
I recommend doing some research as to how bitcoin/blockchain works.
Third party site where you can track their mining
https://www.blocktrail.com/BTC/pool/canoe
Click on the 'height' numbers for a breakdown of how many BTC they've mined with each block.
There's no guarantee of it being consistent because they only get awarded that much for successfully solving the math problem associated with the transaction.
As such, what I'm about to say is highly speculative. It's just my personal analysis.
However, even if were to make a low estimate of them managing to do that once a week and we assume that BTC stays above 10K (50% lower than currently, so another low estimate) for the foreseeable future then that's close to 500K a week. Say we were dealing with operating costs of 10% of the BTC mined (likely to be a high estimate - I'll let you do research about how much it costs to keep these units running), then that's still 400-500K a week if they only do this once a week.
They claim to currently be doing test runs to see what their mining operation can do (check previous news for details), meaning that they could very well do this multiple times a week when fully operational.
If you wanted to do more meaningful analysis then you should also consider the rate that mining efforts are increasing among the entire market in conjunction with the rate of increase in the number of transactions that occur. More transactions means more potential coins to be mined, but more miners means more competition to successfully get them.
Who's playing games?
Someone just bought 8M shares at .0016 so they could sell at .0015...
Have fun chasing ask to pennyland
46 BTC Mined in 5 hours
https://www.blocktrail.com/BTC/pool/canoe
https://www.blocktrail.com/BTC/block/0000000000000000007ac8138db3a3ac34eea0eb6d07055ddc2028aaf90f6ba9
https://www.blocktrail.com/BTC/block/0000000000000000003d099fe59659b3f30f0361d1366a3bfba3cabcd40321ab
At a BTC price of 13K (low estimate), that's 600K of revenue in 5 hours.
Market cap for company is 5M
You do the math about the potential value here.
Let's rock and roll.
Anyone know the float?
Thanks for the sells friends
Wouldn't have been able to load up without you :)
Ppl are hyping potential news about their mining operation getting started tomorrow
As to whether or not such news is going to come out and what effect it would have on the stock, who knows
flips necessary for trading pressure to continue
everyone being long doesnt necessarily increase stock price if no one is offering to buy/sell shares
How high can this go?
I hesitate to guess because the hysteria about stocks like this leads to amazing buying frenzies.
Resistance break at 0.0023 stands to send this to 0.0030 easy imo
You realize that would give it a market cap of 1.6B right?
According to scottrade,
Shares Outstanding 4.30B
Float 2.8B
because flipping is necessary for momo to continue and
because you can make an extra 20-30% by playing the bounce
i just call it like i see it
is a move from .028 to .022 not a drop?
and now the bounce
here's the drop
a $62 million valuation still seems excessive to me, don't count your chickens before they hatch is all i have to say
.12 per share?
Does this 50% increase over the 50 wk high seem excessive to anyone else? The news lists 230 million shares that were used in this valuation but they currently have over double that as outstanding. I don't know, this just seems a little too good to be true.
Wrong. That 30% value is the result of people who bought and sold on the same day. If you do so you technically sold something that you didn't actually own therefore you technically sold short a stock. But that doesn't mean there's a 30% short position in this stock, it just means that 30% of the shares were bought and sold on the same day.
Little bit of information: You can't short a penny stock.
Here we go :)
Previously that was a resistance level, as you can see from this chart
http://i.tinyuploads.com/62CHO8.png
However, if we get there again it would be a support level.
Because we're tentatively trading near a break out zone. At this point if it can get past .017 it can start flying.
Wedge forming
A break to the top = big $
I'd imagine it's profit taking as opposed to panic selling.
If it were panic selling this thing wouldn't be up 100% anymore.
.015
If it drops below that then we're probably looking at .013 soon to follow. It seems to have bounced off that support line though.
Why the movement?
Are people loading up or is this just pure manipulation? Is there any reason for this move?
Good chart setup
HEMP has roughly the same daily chart setup that MJNA had yesterday, just need it to hold these levels and we can get rolling tomorrow.
I'd like to add that the stock is currently trading at support levels and 5 days is a long time to be red. I don't think there's anyone left who's willing to sell lower at these levels.
Here comes that bounce I talked about.
You see red and get upset, I see red and think buying opportunity.
Bounce time.
Looking good at these levels imo
A 7 day uptrend is possible
I'm not saying it's definitely going to happen, but if we get off these levels it's very possible for this to have a nice run up to .12 or so.
In order for that to occur, I'd like to see some good trading, which hasn't been present. By good trading I mean sustained moves instead of this plus/minus 10% at the close/open nonsense.
That's good for quick fingers and actually fits my trading style, but the volume has been abysmal and a real run would change that.
I'm fairly certain we're in agreement eom