Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I was making a point, actually.
We need to be precise. This is not an ETF that is being announced. Its an index. I'd already been to that ETF company's site and they have 4 ETFS, all dividend related:
LEAD
DFND
GARD
DIVY
If they have an ETF that has received regulatory approval, then its not shown on their web site.
This is not to take away the publicity or diminish the importance of the index, because getting the notariety of inclusion among HIT & OSTK & ACN & SAP is a major kudo. But lets not get ahead of ourselves. This is an ETF company but they have not yet obtained regulatory approval for an ETF. And index, which allows people to track blockchain related stocks as a group. But not an ETF.
Imperial Whazoo
Which ETF is that?
IW
Look at the daily candlestick chart. If anyone wants a picture perfect example of a hammer, today's is it.
Example & explanation:
http://www.nasdaq.com/article/hammer-doji-bullish-reversal-candlestick-patterns-cm728687
Go baby go baby go baby go!!
Now all we have to do is survive the dates when various shares, warrants & options become tradable AND we have to hope that the basic sentiment is that this stock is not a dump opportunity but rather a stock with a momo future.
IW
Another thing that could bear being asked is the status of:
70% interest in the Beardmore Gold Property bLeeta Gold in March 2017 & the status of the 1% net smelter returns royalty.
I do not see anything on SEDAR that says that these have been terminated or sold off.
IW
Hey man, seeing as how you can ferret out the info better with your Bloomberg, why don't you do the digging and post the findings here?
Please....
Pretty please??
o:)
Imperial Whazoo
If you get to talk to the Hive guy, ask him about
(A) whether the prior insiders in the gold company hold shares (preferred and/or common) in the new company and/or are any of these types of remaining shares from the old company still a threat for dilution of HIVE.
(A-1) If there are any such shares, what are the terms and
dates of availability and/or expiry.
(B) whether the prior insiders in the gold company hold OPTIONS in the new company and/or are these remaining OPTIONS a threat for dilution of HIVE.
(B-1) If there are any such holdover OPTIONS, what are the
terms and dates of availability and/or expiry.
(C) whether the prior insiders in the gold company hold WARRANTS in the new company and/or are these remaining WARRANTS a threat for dilution of HIVE.
(C-1) If there are any such holdover WARRANTS, what are the
terms and dates of availability and/or expiry.
Basically, you can go to SEDAR's site and there are 49 documents to struggle thru. It would be a lot easier to have the company comment on and/or supply a list of terms and dates of exposure the company has to dilution via exercise of warrants and/or options.
My thing is this: I was rummaging thru a long list of youtube vids and there was this gal on CEO.??? (I failed to note it) and she talked like she was an insider of some sort and that her options/shares/warrants were like those that got released early the other day, but that hers were still unavailable but would soon be available.
So I'm slogging my way thru sedar docs to ferret out the scoop, but it would sure be a lot easier if the company would release info so we all can avoid getting sandbagged like so often happens.
My guess is that there is no way they will assist with ferreting this info out, but I'd like to ask it anyway on the outside chance they actually decide to make the info generally & clearly available to us.
Worth a question.
IW
Cool. Anyone need any more confidence that this puppy is the real deal?
Nice find.
IW
I sat down and started looking through the PRs on Hive's page to see what these bought deals were declaring as the value underpinning the deals.
For example, in this present deal, (a basis for perceiving what the most current "opinion" of the market value of the shares), the deal consists of 12,322,250 units priced at C$2.80 per Unit (1 share & 1 warrant). Now, buyers did NOT step up to buy this deal for present dollar value of the deal.... they intend to make money.... so there is an built in discount here.
OK... the warrants:
These warrants allow the holder to buy a share at a discount price for a period of time. Both the shares & the warrants are untradable until March 15, 2018.
The warrants require the holder to spend an additional $3.90 Canadian to get an additional share.
So, basically, lets put our thinking caps on and posit a scenario or two that realistically depict the possible outcomes at 3/15/18.
If the holders of these units decided to dump their shares at $2.80 Canadian on March 15, 2018, the price has to be above the $2.80 per share price or they are stuck with shares they can not get rid of. If they are able to dump because market prices are high enough for them to sell at a profit, they could not buy back in (exercising their warrants) unless they spend more than they get out of selling. In fact, they would have to spend $1.10 Canadian MORE to buy back in.
Now, theoretically, the price might be twice that.... say $7.80 Canadian. They would buy shares at $3.90 via spending to exercise the warrant, and then they would have twice the shares at a net valuation of $6.70 Canadian per share. They could then dump them at $7.80, for a profit of $1.10 per share (16.4%), not including warrant exercise costs and so forth.
16.4% is a tiny profit to speculate on, IMHO, and represents an unrealistic theoretical behavior.
Right now, the Canadian price is $3.32, so there is already a profit on the shares, as of the PR release date itself. Looks like a healthy deal to me. Just my opinion, mind you, and not a recommendation of any kind.
The other case is where price has crashed and they can not get $2.80 Canadian for the shares, and they would certainly not spend $3.90 to exercise the warrants.
And also, the fact is tha Genesis holds C$5,090,904 of the offering (14.755% of the offering).
What a shares & warrants price structure such as this does is that it puts a valuation basis under a stock at the date the exercise becomes possible.
In practical point of fact, in that $34,502,300 was raised & the details of the explained funding was to obtain money-making crypto mining facilities in Sweden, there is good reason to postulate that the buyers of these units are not anticipating a decline. If, after 3/15/18, they dump a hot running stock for a pittance, they lose $1.10 per share when they turn around and buy back into using their warrants.
A deal like this is supportive of prices because of these dynamics, IMHO. Summarizing: if the data centers are real and if completed as anticipated and on schedule (Iceland was already operating when that deal was done & Sweden is scheduled for the second week in December 2017), then by 3/15/18, the cash from mining operations will have been coming in for 3 months.
And with mining operations in freindly countries, they are not subject to the risk of legislation in a given jurisdiction.
So, that is why a news announcement like this puts a base under prices.
All my opinions, of course, and given the volatility & risk in the crypto world, profitable mining is not guaranteed, but for people like me, who believe that crypto is the next disruptive technology, this price on this deal involving the only tradable stock with an active presence in the miing business (ANDthe largest miner at that) is a slam dunk.
Also, notice that, while the markets have been digesting this PR, the price has put in what looks to be a rather solid bottom.
Long post, SORRY. But a complex subject. Hope my time attempting to help is worth it to people.
Imperial Whazoo
The CME futures account is a cash settled account. You will not be able to take delivery. They do not have control of the coins. Big difference.
Imperial whazoo
Hey, if anyone was watching last night, Bitcoin defined volatility. It "crashed" and then up it went again for this AM. A $1200 point spread. Whoa jack.. Mikey likey!!
Also notice that the ALTs, like Etherium, did not suffer the same down side fate at the same time as did Bitcoin. The concensus in the crypto press has explained many times since last week that the expectation had been, prior to the suspension of Segwit2 hard fork, that people would have supported the hard fork, if for no other reason than that they would have gotten a free coin. So, with the suspension of the hard fork, people moved back into the ALTs. That explains why the ALTs did not follow Bitcoin down over the weekend, but then, when players noticed the failure in Bitcoin, buying kcked back in in Bitcoin big time. $1200 swing. Volatility defined!!
And if anyone doesn't get the importance of pointing out this fact regarding HIVE & Etherium:
HIVE DOES NOT MINE BITCOIN. THE FACT IS THAT THE MACHINES HIVE IS PUTTING INTO PLAY IN SWEDEN ARE NOT ASIC MACHINES; THEY ARE GPU PROCESSOR BASED. HENCE.... BITCOIN MINING IS NOT EVEN POSSIBLE AT THE SWEDEN SERVER FARM HIVE WILL BE OPENING IN DECEMBER.
And note the time is short. Sweden: open in December.... Current date: November 13th. Tick Tock Tick Tock
Imperial Whazoo
Precisely. Its my theory that Genesis would logically downplay the impact and that HIVE's management team filled the gap as white knights. They were able to leverage the hack and the financial damage to allow them to step to the front of the line as regards access to a VERY compelling coin mining opportunity. And the Sweden announcement is the biggy, IMHO.
When these guys announce that the Sweden facility is up and generating income stream, this stock will explode, IMHO.
There are other stinky pinkies out there stepping into mining but this one is with the IBM of the industry.... Genesis.
IW
A theory for everyone to repudiate, LOL)
I think what happened to get us to this opportunity to make a lot of money in HIVE was this.
As a strategic corporate move for fiscal year 2017, I think Genesis privately decided that they needed to vertically integrate so that they controlled their hardware. So they bought out (or bought controlling interest into) some party that allowed them to control their own machine manufacturing. You can hear that in the youtube video I posted a link to yesterday, where it is clearly stated that Genesis controls their hardware.
Sometime shortly after that, Genesis got hacked. Do a web search in July. I think it was July 27. My guess is that the hack cost them their cash reserves bigtime & they were, by no means, going to tell the world how much damage was actually done.
Subsequent to that, the guys behind Genesis hit youtube with a bunch of video to reassure their market that they were going to make restitution & that they had remedied the security issues. Again, go to youtube & do a search.
So, behind the scenes I am guessing the principals with HIVE stepped in to supply money that was needed and that Genesis was not ever going to publicly announce they were in need of. In essence, what I THINK happened was that HIVE's people saw that there was an opportunity to buy in because of the unexpected cash issues that the hack caused. They stepped in like the Lone Ranger, and we now see this newly investable company show up in September.
These things are guesswork & could be wrong, but thats what I'm reading between the lines. Could be wrong, & I'm ready to admit that, but thats my take.
So, if the present stock we call HIVE is the outcome of an opportunistic business decision, and if their investment move is a wise one and if it is as well timed as regards the general momo in this disruptive crypto niche, it is all a very well positioned opportunity, as far as I can tell.
I think the Sweden thing is the cherry on top.
The nearness of this mining opportunity launching (December!!!) is cause for a lot of optimism, IMHO.
Imperial Whazoo
If the machines go in & if electric is low cost as represented, MGTI will make money. If either is a "NO", its not going to be as profitable as hoped, and it may mean a complete wash out. Thats the risk. I think the machines will go in and I think Microsoft & Oracle & several others have server farms in that location in Washington state, so I doubt that electric costs are going to be a problem. Not in Microsoft's own backyard.
Regarding Bitcoin, Bitcoin did not fork & the ALT coins recovered.
People were banking on that free coin that they are not now going to get for free, so you could have expected a Bitcoin crash. We did not get one, although the recovering ATLs did better than Bitcoin.
So, I think the price behavior bodes well for Bitcoin, still.
Just my opinion.
IW
I'm watching for volume breaks below 3.05 that stay below 3.05 at close. If it breaks down below that, I'll watch for evidence of whatever new low it tries to attain & buy that low. If not, I'll watch the news & the support and try to time any buys. Volume is the tell, IMHO, not noise on the boards.
Imperial whazoo
I don't know anything about any of the principals so all I do is watch the volume on the charts. I call the volume histogram at the bottom of my candlestick charts "volume chatter". When it increases and price bottoms, turning up, the chatter says there are buyers. When the opposite is true, it is sellers.
Depending on the trading volume of a stock and on the volatility, you can use any chart period that works to pull out a clear picture. Sometime it's 1 minute. Other times 3 minutes. Or 5 or 10 minute and so on.
For this stock, I've found that 15 minutes & 26 minutes work well (There are 390 minutes in a trading day, do 15 minutes has 26 periods in it & 26 minutes has 15 periods in it). The 26 minute showed a clear hammer bottom on the 6th at 10:40 AM & the 15 minute showed a star/doji/quasi-hammer bottom on VERY telling volume at 9:45 AM on the 8th.
Those told me that the probes for bottom had spotted a bottom that was going to hold. The one on the 8th reached 3.05 and guess where the low this morning turned back up? 3.0493. BINGO!
Imperial Whazoo
And so, here's my idea on why we saw falls like this mornings.
If short sellers hold their short positions, they have to pay interest to do so. So, if they no longer feel that the short side is worth the risk, they take their profits (price fall = profits for short position).
They do not want to wait for price again in order to short because they pay interest on those borrowed shares. So they cover, take a profit and go elsewhere.
They are not re-shorting because it is too dangerous. And because there are better short-side fishing holes in this crypto niche.
And the sentiment that it is too dangerous implies that there is a general concensus that the Sweden news (78% of the mining), coupled with the Iceland news that preceded it, will come to fruition in December and this puppy has a greater likelihood of price increases in the next few weeks than of a price decline.
ie... the "story" behind this story stock has legs.
My opinion, merely.
Imperial whazoo
EDITED: DOES ANYONE HAVE THE SHORT INTEREST DATA ON THIS STOCK? If so, please post it. I personally do not subscribe to any services that generate short interest data for a small stock like this one.
Oh, OK, Thats better & makes sense, because a short squeeze is where prices run up uncontrolled rather than down like this morning.
Thanks
IW
Edited: another thought.... if they were "dumping" into the market & it was only able to bring price action back to this general area of the chart pattern, it is self evident that this stock is not in disaster mode.
Your comment confused me because it looks like the shorters actually succeeded in that the price fell. So, this ENCOURAGES short sellers because they succeeded. In fact, if a guy shorted and prices fell this morning, your second comment , that a lot of folks lost money, does not jive.
Please explain your comment to me. You said:
"The decision to release shares earlier than planned was to alleviate a short squeeze in the stock. Evidently somebody lost some real money going short, Friday's price action in the morning was short squeeze related."
If somebody was intending to squeeze prices DOWN, and if the price this morning did, in fact, go down, how can you explain the early release as an attempt to STOP an anticipated short squeeze? It looks to me that the attempt to take prices down was actually a success, and thus the assertion that the attempt was stopped seems to be unsupported by the price action itself.
And how the early release was a calculated move to STOP a price squeeze is unclear too. How does an early release stop a price drop? It would seem more rational that more availability of shares would actually generate a price decline. Please explain.
I'm not saying your comment is wrong, but would you please elaborate so that it does, in fact, make sense given that prices did fall this morning?
TIA
Imperial whazoo
Nice thing to have pointed out. Sure is a benefit to me & I assume I'm not alone.
If L2 dumps their shares or bleeds them out, we will see either a flash crash (in the first case) or a slow decline (in the second case).
The third alternative is that L2 treats this a valuable holding and decides to stand pat.
My thinking is that the ASIC mining boxes will go on line before Christmas and thus, these shares are golden to L2. They voted, IMHO, to obtain shares rather than to continue to hold the promise of shares in the future. Whats that old saying...? "A bird in the hand is worth two in the bush."
I have no info specific to this GUESS of mine but thats my feeling.
Here's why I'm skeptical of predictions of disaster in this and other stinky pinky crypto stocks that have (or on trackto quickly obtain) a mining presence. The momo in this DISRUPTIVE niche is real.
A look across a wide swathe of stinky pinkies in this crypto world reveals that there is a huge land grab, as it were, going on, where big players are staking claims, with the prime real estate being the ability to mine affordably.
MGTI is thus going to be in the mix because they have a server farm up in Washington and more ASIC mining boxes purchased and coming on line in their 4th quarter. Either that or they are simply lying. IMHO, the filing MGTI just made is a clear repudiation of the stance that asserts that these guys are just scam artists lying like they are members of the editorial board of the New York Times, LOL. They may be liars and they may have a history, but the fact is that they filed in a timely fashion and their report was not as terrible as some prognosticated. In fact, line item compared to line item, they obviously are looking better that they did 9 months ago.
Or, they are just liars and nothing they published is usable as anything other than toilet paper.
So, L2 has a stake in cheap shares, MGTI no longer has this outstanding "debt" hanging over their head ominously, and the industry is truly disruptive & frothy with all kinds of players staking out space from which to attempt to become prime players.
All told, I know I'm looking for candidates with more than a 50/50 chance of becoming winners. I'm looking to differentiate between opportunities and fakes. If they double talk about Sentinal and/or the phone, I'll call their cards. If they actually put the ASIC boxes to work generating Bitcoin, and if they let us know that they also have GPU based boxes working to mine ALTs, that will be positive.
For the moment, I like that they filed and I'm watching like a hawk from a safe distance to see if there is evidence that is a "tell" in either direction.
IMHO, the buyers leave tell tale signs in the volume bars on a 3 minute chart. When there is buying at the bottom of waves, and price climbs after that for a while, it looks like buyers are looking for down points at which to step in. When there is a high volume bar at the top of one of these waves, and prices cycle down, I see this as evidence that there are still sellers looking to maximize their selling points. So, unlike all those who buy on the basis of all the chatter, I buy based on the "volume chatter" showing up on the charts themselves.
Just my opinions.
Imperial whazoo
Well, I just re-listened to a youtube video that I'd already heard & boy was I brain dead when I listened to it the first time because I learned a whole lot the second time through.
My personal goal is
(A) to distinguish between scam ideas
and
(B) to try to leverage whatever I decide is NOT a scam sector by learning everything I can and by timing trades based on the charts of the investable stocks I've found.
So, I'm daily adding to my list of viable possibility stocks & I'm trying to broaden my understanding of block chain & crypto.
Basically, so far, I see it as two sets.
One set consists of legitimate stocks that can directly benefit from mining operations.
The other set consists of companies that are offering some kind of viable technology that is block chain based but that are attempting to apply their particular flavor of disruption to some kind of existing business, like supply chain or taxation or e-mail or health care.... and so forth.
As a matter of fact, the first company to offer an object oriented code library that will allow code jockeys like me to build crypto solutions for a variety of business will make a fortune because that will become the next Oracle or mySQL or Apache Server.
Back to the present, LOL....
HIVE is in the former set because its a miner. I can capitalize on this technology right now if I can find a company that is making the right decisions in regards to positioning itself RIGHT NOW.
Thats what HIVE is.
Other companies, that are probably not appropriate to post about on this board, are doing something in the latter category.
In way of education for folks, a word about the latter. I coded complex database solutions for years. When a corporate entity hired my consulting firm, projects involved coding a user interface plus a lot of infrastructure stuff, such as audit trail, redundancy, security, and back-up. With block chain, the security, back-up, audit trail, and redundancy are all BUILT INTO the solution AUTOMATICALLY.... by the nature of the technology itself. Thus, ANY entity that would hire firms to deliver solutions such as are typical of what is being done today will benefit in almost all aspects of the solution. Its easier to support, easier to code, and far less costly. And these are just staring points to persuade decision makers to pull the trigger. I mean, imagine if an old fashioned self balancing b-tree database were implemented using block chain as the code design objects. Talk about speedy and massively large mega databases!! And to add modules or functionality or departments, all you do is whiteboard the geometry of the architecture and plug a piece in at the appropriate place and VOILA.... a secure module that is up and running in no time. WOW.
The very design of the block chain is massively disruptive.
Ooop... of the beaten trail once again, LOL.
Back to HIVE:
HIVE is in the forefront of the technology TODAY. Mining is where the rubber meets the road at the moment. Solutions like the ones alluded to above are being invested in by big time players like Mark Cuban, who appears to be stepping into infrastructure solutions that leverage sensors in all kinds of arenas.... he's making investments, if you believe youtube and articles.
This block chain thing is the real deal and as of this moment, HIVE appears to be the real deal in the mining arena.
Money to be made.
Just my opinion, again.
Imperial Whazoo
Here is evidence of the big boys weighing in:
https://www.cryptocoinsnews.com/goldman-sachs-files-blockchain-patent-for-foreign-exchange-trading/
I'd had my interest piqued prior to that news & then I came across the announcement of Goldman Sachs filing this patent application & it confirmed in my mind that "international governmental & financial & corporate" was in on this block chain thing in a big way.
Right now, I perceive that they are all is a dead sprint to stake a claim . IMHO, they have all suddenly come to the realizations that the train has left the station & they are in danger of getting left behind.
I have a long list of companies that are block chain / crypto players. Two months ago, there were only two that could be bought who had direct, up-and-running, mining operations in place. Today, there are over half a dozen with mines in place, generating $$. And half a dozen more are recently posting news of major cash raising deals that all speak of players stepping in to place money on the table before the train leaves the station.
And if you go to the respective company web pages of the companies that are mentioned in these press releases, and if you do extra web research & youtube video research using the names of the entities & people, you can see that there is a stampede of big-wig investors trying to get a chit down on the gambling table before the roulette ball stops spinning around and settles into a money slot.
This is a big disruptor, this block chain technology. Real earthquake and tsunami stuff. Players bellying up to the trough bigtime.
IMHO, the positioning of HIVE to partner with Genesis is well done, from a chess board move standpoint. The management making these decisions is making very good strategic moves to leverage the time & place that bitcoin / blockain is at right now.
And to risk being accused of being redundant, evidence of corporate entry into the small players in the block chain world is all over the place in the daily news of the various companies on my watch list of crypto companies. It used to only be a long list of shady "exchanges" from who knows where doing who ACTUALLY know what (other than trying to scam investors by revving up fake enthusiasm). Now, its a sub-sector of the OTC that is alive and throbbing with activity from corporate names that are NOT fly-by-night outfits.
This block chain enthusiasm thing is the REAL DEAL, IMHO.
HIVE is a great choice due to the decisions they have made to partner with Genesis & to, thus, get an accelerated entry point into a technology that is exploding and that is truly disruptive.
All this is merely my opinion, of course, and I could be wrong, but thats how it looks to me.
Imperial Whazoo
Well, I seem to be the only poster but I'm on a roll, LOL.
The question of the effects of the newly freed up shares has been answered. Price moving up.
Pretty significant attempt to derail the move from last week short circuited.
Looks like general investor sentiment is that the future is bright for HIVE.
Only my opinion. Tomorrow will be a brand new day.
IW
Also, look at how much GPU power HIVE is going to have in less than a month.
I mean, with Genesis as their partner & thus having no need for starting from the ground up to conduct a build-out to take advantage of the effects of the cancellation of Segwit2, I am pleased, to say the least. Not having to start from total skratch in order to position yourself to leverage the situation as it currently exists is a huge advantage.
I am tracking a list of companies doing deals to get into mining in a meaningfull way, but the value proposition represented by being partnered with a company having existing facilities and know how is priecless, IMHO.
IW
Right now, all the money that people had parked in anticipation of the Segwit2 that had been scheduled for 11/16, is in an uproar because of today's announcement that the signatories of the Sigwit2 agreement had "suspended" their forced attempt to generate an increased blocksize on terms that favored them.
Hence, people are re-adjusting the "bets" they had placed down and my whole list of bitcoin stocks is in a thrashing uproar, LOL.
Will watch to time my own entry into chosen avenues with an eye to not getting ahead of myself. Patience....
Oh, and in case anyone missed it, the reason bitcoin exploded was that the Segwit2 split got canceled today, thus releasing the native energy in bitcoin back into an unmanipulated state. All things cryopto are in a froth this afternoon.
IW
With the PR about acceleration in freeing up existing shares that had been scheduled for availability in a short time, logicaly it could be suspected that price price could crash. So, right on schedule this morning, there appeared to be an attempt at a take down. The first hour of the day.
There was no enthusiasm for a price take-down. It failed about 1 hour into the day and using a 5 minute chart, at 9:40, the candle that materialized was a really pronounced hammer.
There was no clear increase in sellers during the attempted take down and the hammer candle effectively hammered in a bottom. Since then, its drifted back up and is holding sideways.
Parallel to this failed take-down attempt, note that Bitcoin prices have broken upside again.
So, I pretty much think there are buyers willing to buy every share that is used to try to stimulate a bear raid.
It looks like people think there is a bright future here. They buy shares eagerly enough to stop a major decline but they hesitate to jump in with a lot of buying because the number of days or weeks they may have to wait for a good profit is an unknown at this point.
So, there is buying on attempted take downs but there is a hesitance to commit too much because the money may end up being dead money for a week to a month. Since bitcoin itself is running, parking money in a dead spot when it could be being used to make money in the fast lane is not favored.
So, unless HIVE comes out with a bit of news, the price probably won't crash, but fast money will go into other Bitcoin opportunities that have more juice in them.
Thats how it looks to me.
Imperial Whazoo
Go look through the news going back & you will find the Sweden thing. I keep an old fashioned chart & news folder on stocks & on issues I connect together to make an overall picture & I printed the news some time ago about Sweden. If I recall the generalities, it was some ratio like 77% of processing power to be in Sweden with remainder in Iceland. The trumpeting on Iceland is more amplified right now due to it being recent, but I'm equally impressed in the Sweden angle. Also, you can find Sweden & Iceland related to HIVE and/or its involved people by searching for the involved people & companies & organizations mentioned in videos on Youtube. I make note of the names of people mentioned in articles & in companies and so forth. Then I go to the web pages of the respective entities, look through the officers & directors of the mentioned entities, look through news on those web sites & search people's background to chain together connected, behind the scenes power centers. When you do this for HIVE, the picture of the force that is building to the upside is very pronounced.
Gotta go trade. L8r.
IW
Shares don't necessarily get dumped into the market. I nosed around the news pretty exhaustively in the last week or so and HIVE is building out large server farms in Sweden & Iceland and they are targeting December to have them online & generating income. Partnered with Genesis. Existing solutions.
When I first read about the 4th quarter as the target for Sweden & Iceland...
plus the accelerated release of shares, I figured they are anticipating that the sever farms will coincide with the 4th quarter launch of a futures product that will be traded by the CME (I think thats who is coming out with a cash settled Bitcoin futures product). A couple of parallel bigtime news events & shares will be needed in the market
So, the price may fall on tomorrows event, but I figure that the rush of news that is going to raise public awareness will absorb the new shares and more in a pretty short period of time.
Every time something I've not been through pops up, I learn something I can use, so whatever the effect, I'll be absorbing the behavior greedily.
Peace folks,
Imperial Whazoo
Draw a fib retrace using the breakout on 8/11 of $ 1.44 as the low point and the high of 8/31 of $ 4.26 as the high point. this will lay out retrace lines of .386, .50, .618 & .786 which will lay out a picture of how the pullback has nestled itself into these levels. Its pretty telling &, if you accept the proposition that the big boys out there trading a hot moving puppy like this stinky are generally governed by fib level targets as pivots and/or retrace levels, it is easy to predict the short term future prices you can expect.
Thats my thought on this stock.
note that its sitting at right about the 786, isn't it?
Imperial Whazoo
GLTU
My opinion on the effects of the controls imposed on new issuance of ICOs in china? MGTI will benefit. The following is my reasoning. Follow along.
Like I said before: shutting down new ICO activity inside of the country that is doing 70% of the bitcoin mining does not shut down the bitcoin exchanges or the bitcoin mines. In fact, it actually refocuses the monies that were going into altcoins back into the pre-existing system. As such, the value of the coinage that currently exists in not reduced by limitations imposed in a portion of the overall system.
Here is a mental exercise.
Visualize the flow of value in the crypto world as though it is a valve & pipe system.
Prior to the Chinese limitation on the issuance of new ICOs, there were innumerable open valves through which new "coinage" could be injected into the valve & pipe system. Now, after the Chinese ICO decision, the system diagram has to be modified to a state where the injection points in part of the system have been shut down.
What had been happening was this: there was unlimited increasing volume of unmanaged inflows. After the Chinese ICO limits, there are fewer inflows from uncontrolled input points that were located in the part of the valve & pipe system that contained 70% of the volume flowing in the system.
As a pragmatic reality, since the removal of the input points is only in 70% of the system, and since systems are adaptive, it follows that the net effect of the closure of inputs in 70% of the system is not going to eliminate dilution in the system as a whole.
Rule of thumb applied here: if the area of which the 70% consists can be controlled, then the managers of that 70% area can increase the benefits they can obtain from the 70% they control. Chicoms control "capitalism" inside the Chinese economy.... a small set of controlling families own the wealth inside China. Since bitcoin is a new source of vast wealth, controlling the bitcoin industry is a necessity to whatever power is on top in that economy at this time.
The problem from MGTI's point of view is this:
given that there is no way for any entity to control the entire valve & pipe system (at this time), and given that control has been expressed inside 70% of the system, what impact will come out of this action in the remainder (30%) of the system?
The mindset of the chinese authorities has been uncloaked. Any camo previously worn by the Chinese parties has now been laid aside. A control exp[ressed over 70% of the system is not going to limit the events happening in the uncontrolled 30%. The 30% will express itself. Simple as that.
Net net: IMHO it is to MGTI's benefit that control over 70% has been imposed.
The overall system will adapt and, as a practical matter, MGTI is positioned to leverage this by being in place at the outset of the adaptation that is going to happen as the entire system adjusts to the changes impose in 70% of the system.
MFTI will benefit if it successfully delivers mining in the uncontrolled portion of the system.
Thats the big "IF".
If MGTI is actually going to build out mining in the US, which is in the 30% that is not under control of the Chinese, then the benefit to parties risking involvement in MGTI is going to be an exponential upside move.
There is every reason to think, until there is concrete evidence to the contrary, that it is irrelevent whether the parties involved in MGTI and UAHC are scam artists. A scam artist is a person looking to maximize their wealth. They are willing to be crooked if that is required, but on their baseline, a scam artist is predisposed to leverage a situation to maximize the outcomes that benefit them.
As such, it follows that these guys, even as scam artists, are going to milk this puppy for everything they can, and building out infrastructure is the ticket (now that China has imposed controls on the 70%). MGTI was pre-positioned by being in place prior to the imposition of controls. They are thus the best positioned stock out there for leveraging the growth in the 30% of the system that the Chinese do not control.
Thats my take. I could be wrong, but thats my gut feeling on the events that have recently happened.
Imperial Whazoo
So, the question for MGTI is this: what will the impact be on bitcoin from the chinese limits newly placed on ICO issuance?
I trudged around youtube this long weekend reading up on bitcoin in China and as a consequence, I ended up with a whopping crash course in the politics of the 19th chinese communist party congress (upcoming in October) & on the politics of chicom owned industry in china & on the relationship of actual industrial ownership and the strength of the chinese communist party.
Due to MGTI's entrance into bitcoin/etherium/litecoin mining, the regulatory environment in the county that currently controls (thru chicom owned industry) 70% of worldwide crypto mining seems to me to be a question worthy of examination.
First for one thing, I seriously doubt MGTI is going to go to China to set up any kind of mining operation.
Second, I don't think the western press has even the tiniest bit of understanding of the fact that china is NOT actually a capitalist country, and as such, all attempts to explain things like bitcoin in china are either distorted explanations or they ar more akin to fiction than to reality.
Bitcoin is a threat to China because they can not control it. what they can do is regulate the issuance of NEW cryptos. The Chicoms today aggressively seek to control all aspects of that economy and chinese bitcoin miners is no different. The chicoms want to control bitcouin. More precisely, the chicoms want to control the players & people involved in all the aspects of bitcoin in china.
In that the block chain is distributed, the blockchain/distributed ledger is not controlable in any way that even resembles the manner in which other industry in china is controlled. As such, bitcoin is a major problem for the chicoms. They have done the one thing they can do: regulate the issuance of NEW ICOs. They can not control bitcoin itself (and this applies to all cryptos, not just to bitcoint), and the best they can do is own mining and exchanges inside their territorial borders; OWNING the controlling interest in the mines & the exchanges. Thats the long & short of it.
China is in a worldwide distributed ledger flood. They can not mop up their flooded basement. All they can do is shut off the open faucet that is running in their own basement. Banning new ICOs is like the chicoms turning off the water faucet in their basement but the floodwaters are bigger than their boundaries. Even so, it is logical that "president" Xi would regulate ICOs as a run up step to the October Commy Congress. It is the only thing he can do and its consistent with chicom thinking, so he took it. As to whether the result will be to dry up the crypto floowaters..... not so much.
Imperial Whazoo
I have no comment on that. Frankly, given the fact that huge fat cat insiders affiliated with the chinese communist party are the owners of industry in china, it follows that the chicoms would NOT view the entry of an outsider into an industry they control as something to favor. In fact, the centralized authorities in the party would probably chew outsiders up and spit them out. So my speculation would be that it is not wise for MGTI to open a mining operation there.
Don't know, though. But I am fairly certain that the closing of the inflow valve of ICOs is a net net positive for existing coin types because it caps the number of competing coins out there and as such, it increases the scarcity of existing coin types in general. Now that potential crypto owners have fewer alternatives to bitcoin, the incentive to buy the biggest coin out there (bitcoin) increases.
Imperial Whazoo
The ban on ICOs is
NOT
NOT
NOT
a ban on mining.
It is only a ban on unregulated offerings. Initial Coin Offerings. ICOs.
Not mining operations. Initial not ongoing.
ICOs are NOT mining operations. ICOs are initial offerings; not ongoing operations.
Hope this helps.
Imperial Whazoo
Just a thought about the effects of the ban on ICOs in China:
Folks need to think about what an ICO is. An ICO is an INITIAL Coin Offering
The existing coins afloat in the world are NOT banned. Trading the existing coins is not banned.
What the Chinese did was ban the new issuance of coins via initial offerings.
OK, since supply and demand dictate value, what happens when there is a closing of the inflow supply valve on a flow system? Is it not true that the closing of the input side of the supply & demand flow ONLY limits the future dilution of the existing pool of value?
Since the closing of the input side does not carve into the size of the available coinage that is afloat, what will happen to the coins that are presently afloat? Will the existing "coins" be more or less scarce due to the closing of the input valve that was allowing for ICOs? Obviously, the existing pool of coins is going to be the same size.
My conclusion? It is not going to be possible to close the entire international system down. All that they can do is limit the increasing size of the coinage pool. Those coins already existing out there are still existing and as such, with fewer competitors for each invested amount, it follows that the coins that presently exist are going to be more scare in relative terms than they otherwise would be if money coming into coins was to have remained increasing at the pace it had been at. So, net net, closing down incoming funds to new alternative cryptos effectively adds value to the current pool of cryptos out there.
Thats my thought.
Imperial Whazoo
Heres the whole round trip:
He was granted these shares as part of an employee incentive plan.... basically, what stinky pinkies do is pay people in shares. So here is the form representing the obtaining of the shares on 8/18/17:
https://www.sec.gov/Archives/edgar/data/1001601/000149315217009695/xslF345X03/form4.xml
Here is the note from that form explaining the acquisition of the shares:
"The Securities were acquired through a grant pursuant to MGT's 2016 Equity Incentive Plan."
Then, he (quite effectively) paid himself and kept the exact same base level of share ownership, 788,819 shares, net after the round trip.
This is the sell side of the 100,000 share round trip:
https://www.sec.gov/Archives/edgar/data/1001601/000149315217010183/xslF345X03/form4.xml
So, if anyone thinks this is evidence of the insiders bailing on the company and/or incorrectly leveraging their insider knowledge, please explain. I personally think its a nice pay day for the guy and its not even remotely suspect. It was his deal going in as regards payment in shares and it was fully disclosed, immediately.
So, what say ye? Evil behavior of scam artists sneakily stealing money out of our collective pockets or perfectly normal round trip event where the guy agreed to be paid in shares and executed a round trip by correctly filing all the forms in a timely fashion, without even the tiniest evidence of suspicious behavior?
Hmmmm....
:o)
Imperial Whazoo
EDITED at EOD: look at the http://bitcointicker.co/ price right now.... like I say below.... 4885 crossing above the high of the day.
Tick tock.... like clockwork.
________//_____________
Like clockwork. On the half hour. Big big volume uptick. Computer trading kicked in. I told folks this morning to keep the http://www.bitcointicker.co
up side by side with a 1 minute candlestick chart of the stock.
Someone took it down on a really hard attempt to slam it through support, which failed over a 6 minute time slice running from 1:09 PM central time to 1:14 PM. They failed. So they tried it again at 1:20 PM, failing again to successfully break support because buying came in at 1:27 PM. Since then, they tried & failed no less than two other times, with each one only succeeding at getting to a new higher low. Then at 2:31 PM central.... BAM!! conviction in a forceful move to the upside.
This was paralleled by a break back above 4840 in the BTC price.
Now, is it true, REALLY, that there is no connection at all between the stock chart of MGTI & what is happening in bitcoin prices realtime?
Oh, and watch to see if, near the EOD, bitcoin breaks above the high today of 4863.90. Remember, we have all kinds of uncertainty in the world & there are economies all around the globe with folks wanting to get a taste of freedom from the oppression of state run economies. What does the market think about whether crypto prices Tuesday morning will be lower rather than higher? And supposing Bitcoin prices climb world wide, over the three day holiday weekend, will MGTI gap up in parallel to bitcoin prices? What will the market do in way of predicting the events three day out from here?
Hmmmm
What a choice. Should I or should I NOT step into MGTI over a dead space of 3 days? Will MGTI price emerge after 3 days with higher crypto prices as a backplane?
Hmmmm....
Thats why they call it risk, LOL.
:o)
Imperial Whazoo
IMHO, MGTI will benefit from being in the mining business and their decision to obtain $2.4 million in funding was a timely decision, despite the dubious creds of the people behind the company doing the funding and the sketchy history of certain individuals associated with MGTI.
I think there is a direct relationship between the worldwide move to implement blockchain technologies in all kinds of business & governmental arenas, and the benefits that will accrue to MGTI as a result of its decision to ramp up quickly to build out infrastructure to become a large player in the business end of blockchain mining.
Simple as that. Thats my basic point.
And to support this opinion of the importance of corporate & governmental acceptance of the technology, check out some articles relating to the acceptance of blockchain in all kinds of arenas:
"Mark Cuban is trying to fix social media's biggest problems by backing a company mixing bitcoin technology with messaging"
http://www.businessinsider.com/mark-cuban-backs-mercury-protocol-blockchain-communications-startup-2017-8
Or
"Bank of America Files 9 More Blockchain Patent Applications"
https://www.coindesk.com/bank-of-america-files-9-more-blockchain-patent-applications/
Or
"Credit Card Giant Visa Hints at Digital Asset Service Plans"
https://www.coindesk.com/credit-card-giant-visa-hints-digital-asset-service-plans/
Or
"Goldman Sachs Granted 'SETLcoin' Cryptocurrency Patent"
https://www.coindesk.com/goldman-sachs-granted-setlcoin-cryptocurrency-patent/
Or
"Nevada Becomes First US State to Ban Blockchain Taxes"
https://www.coindesk.com/nevada-first-us-state-ban-blockchain-taxes/
Or
"Arizona Governor Signs Blockchain Bill Into Law"
https://www.coindesk.com/arizona-governor-signs-blockchain-bill-law/
Or
"American Express Brings Credit Card Buying to Bitcoin App Abra"
https://www.coindesk.com/american-express-brings-credit-card-buying-bitcoin-app-abra/
Or
"IT Giant NTT Data Enlists 13 Companies for Blockchain Consortium"
https://www.coindesk.com/giant-ntt-data-enlists-13-companies-blockchain-consortium/
Or
"7 United Nations Agencies Are Now Investigating Blockchain Applications"
https://www.coindesk.com/7-united-nations-agencies-are-now-investigating-blockchain-applications/
Or
"Russian Deputy PM Says He Supports a State-Backed Cryptocurrency"
https://www.coindesk.com/russian-deputy-pm-says-supports-state-backed-cryptocurrency/
I am trying to drill down to the foundational ideas underpinning my point of view.
My basic point, again, is:
Blockchain is a world wide force to be reckoned with at this particular point in time, and it is being adopted by corporate and governmental entities at a breakneck pace. As such, MGTI having hurried to obtain money with which to expedite hardware aquisition and to set up operations on a large scale in the continental US, is, in my opinion, a strong & very wise business decision.
It is risky, and that is a fact, but the movement on a world wide basis into acceptance & utilization of crypto bodes well for this little stinky-pinky stock.
Watch the volumes and watch the real time bitcoin ticker.
Thats my point.
Imperial Whazoo
You ain't kiddin, LOL. I mean.... I was typing a message to flag my idea that we can watch the computers kick in at hour & half hour points and what happened?
Bingo!!!
Like a clock tick-tock.... volume jumps at the hour and we see prices rise.
We are watching the big guys in the world buy crypto like crazy and, at the same time, we are experiencing a managed expectations play that is purely related to the legitimate need of our government to keep panic from manifesting over this very vulnerable 3 day weekend.
My opinion only.... not proven at all, but its what i think the evidence tells us.
Imperial Whazoo
Watching the level 2 & time/sales at the hour pooint and at the half hour point. If the computers kick in and slam it again at these points, then the behavior seen yesterday will be a fingerprint for what to expect for today too.
Watchin' like a hawk from my spot in the sky far above the surface level....
Watchin' & waitin'
Imperial whazoo
Oh and guess what folks,? At precisely the timing I was typing about, price & volume jump and the price cruises up bigtime.
Bingo people. This puppy is on the "managed expectations: stock list. Sure as shootin'.
I use this bitcoin ticker:
http://www.bitcointicker.co
When you display it, click on the 3 day chart and take a gander at what is happening worldwide.
then take a look at the disconnect between the three bitcoin plays I chart & the bitcoin chart itself:
MGTI
GBTC
UAHC
Now, granted, there are other crypto pinks, and I have them all in a real-time list too, but for the moment, these are the 3 I've got level 2's up on.
OK... call me tin-foil hat wearing but I smell governmental intervention. I theorize, and I'm not alone, that the government specifically targets gold & silver prices during panic environments due to the fact that the general public knows to look at gold & silver during such times because they know that the public can monitor the situation by tracking certain key bits of info. So, the theory goes, if you want to control the panic, all you need do is throw mountains of fiat currency at targeted prices and you can manage public expectations.
OK... so, does it look to anyone else like there has been a shift in focus that targets the key players in the cryprto stock market and manages them to dampen down public panic during the Harvey aftermath and the 3 day holiday weekend and the N. Korean and the Syrian powderkegs? I mean, the worldwide power move is bigtime up but at about 15 minutes into the day today, there was a concerted down thrust in every crypto-related stock that runs counter to the actual world wide trend.
Again: put the live coin ticker up in one window and put MGTI or GBTC up beside it in another window. Precise timing for a concerted "knock-down" to stomp on public fears, if you ask me. You can believe what is being talked about or you can believe your lyin'-eyes (cue the Eagles song, LOL).
How reasonable is it that the entire world is running like sprinters to buy cryptos and, yet, every US player in this niche crashes at precisely the same moment?
Really?
I mean... REALLY?
Anyone but me smell a rat?
Just thinking out loud
Imperial Whazoo