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FINAL JUDGMENT in favor of Bitmain Technologies Ltd., Bitmain, Inc., Payward Ventures, Inc., Jason Cox, Jesse Powell, Jihan Wu, Roger Ver, Shammah Chancellor and against United American Corp. Closing Case. Signed by Judge Kathleen M. Williams on 4/7/2021. See attached document for full details. (scn)
At least it’s done and out of the way
Short interest is near zero... absolutely nothing to squeeze.
24,044 shares to be exact ... just over $1200.
Yep, just a bit of an unknown. Shorting Crypto isnt like shorting a stock where you ‘borrow a share’. Crypto cant be in two places a once, and you cant create new coins just to short.
The way its done is to sell to the Exchange what you dont own, with the promise to buy back later. Probably also needing other assets to act as your margin. Problem is beyond your margin, the exchange is exposed to the rest. If BSV for example was to jump to $2k overnight, some exchanges could be at risk.
If they were to fail, getting your unconnected assets out maybe hard.
It’s like a magic trick. There you see your future.... and Poof.
Pity they haven’t learnt how to bring it all back again.
If you guys have coins sat in an exchange, move them to a wallet where they are safe. I am detecting the early signs of a short squeeze on some coins ( inc BSV ). If this plays out, some exchanges could fall as they are heavily leveraged. It is impossible to tell which. ( may not happen, but it’s a risk )
If an exchange falls, it will probably take your coins with it. Recovery will be very hard.
Keep them safe.. remember keeping coins in an exchange is always risky. Just sit back and watch the fireworks. This could be fun.
They only need to update if the number has changed. You cant discount the possibility that there was zero dilution over the last month.
LOL......
OS number in context.
08/24/2018 Reverse 1:100
03/27/2020 Reverse 1:10000
3rd RS expected 2021
Mid April. 400k. ( following 10000:1 RS was 4 billion)
Mid May. 2.3 Million
Mid June 17.2 Million
Mid July 152 million (Restated 196 Million)
Mid August 446 million
End September 843 Million
October 1.504 Billion
November 1.889 Billion
December 2.326 Billion
Dilution stopped following a deal with the toxic dilutors
Feb 2021 OS has continued to rise, and is now 2.9 billion
Mar 2021 3.229 Billion
Apr 2021 Due any day
Since Dilution was claimed to have stopped in December, another Billion shares added to the OS..
This could be interesting. Nice little battle over the last couple of days on BSV. If the price pushes back up again, I think the squeeze could be on.
At around $350 - $400 the shorts will begin to panic when they realise they cant step it back down anymore.
But but but Stevo said no RS.... not ever ...
I assume any day. Unless of course the numbers have not changed, in which case there is no need to update.
So that will be any day now then.....
That was after it dropped 99.99995% due to toxic dumping of shares. I am also amazed anyone would buy this trash
Short squeeze is a double edged sword. But it’s coming...
I am unsure if this is the beginning, but the trading is different. It’s close ( early days ) to phase 1
1) price rises on low (ish) volume, is knocked back by the shorts, and rises again. Leveraging the shorts to the max, and for the longs silently accumulating. ( I’m sure this was done in GameStop well before it hit the news)
2) the shorts twig what’s going on, and some start to panic buy to clear position
3) the longs realise the initial phase is over and buy on mass, no attempt to keep the price down.
4) shorts in crisis, positions liquidised by the exchanges, the squeeze in full effect.
5) exchanges fall, big toxic mess left behind
6) longs sell, price drops to near normal, loads of new holders, many under water, and bitter.
OTC now showing the correct OS at 33,515,295.. MarketCap 112 million
Float still shows just under 10 million. (Unchanged) I don’t know if the offered shares are restricted.
Thx, I will read that fully, but i think to my question, how can you sell what you don't own ( I know how this works with regular stocks ). Shorting Crypto is similar, except its the Exchange that offers the Margin instead of the broker.
This poses other questions, how heavily some exchanges could be leveraged and therefore vulnerable to wild swings that could easily wipe out positions.
I still need to find what the overall short positions are. I suspect the equivalent of a short squeeze is very possible on BSV, but would really like to understand the levels we are talking about... is it really 80%
With Crypto you cant really borrow other peoples coins, I see this closer to Naked Shorting where the Exchange carries the ultimate risk, if it all goes wrong the exchange falls.
The Short squeeze on TSLA was from about 65%
Gamestop was over 100% ( how can you short by borrowing more shares than exist... so wrong )
BSV somewhere in between if 80% is true.
Does anyone know where I can pickup the short interest for the various coins. I have read BSV is heavily shorted to keep the price down, but cannot find anywhere I can check.
I’m not even 100% sure shorting a coin is possible. How can you sell what you don’t own ?
This is the best I found which implies short interest is at 84%... that sounds nuts!
https://www.reddit.com/r/SatoshiStreetBets/comments/l998hc/bsv_largest_open_short_interest_im_just_saying/
I guess so
It will get there, some fins showing mining will help
TAAL expecting to reach 400PH by end of year. Currently at 270PH
To put that into context Bitmain at it hight had just over 2000PH, but dropped to just 238PH during the slump. I dont have a new number, but can assume its back near 2000PH today.
Bitmain was valued for its IPO at 40 - 50 Billion ( I know Mining is not its only line of business )
But if we were to get to 400 PH, roll in everything else TAAL is doing today, is a higher MC unreasonable.. remember also TAAL ditched all its old miners. Everything we have today is fairly new. ( ish )
Today our Market Cap is just under 100 Million. Even a 1 Billion Valuation would put us at $40.
I still feel $20 - $30 is very possible by year end.
I’m certainly not underestimating the value of the blockchain, but you can’t run the world on something that can only do 12 transactions per second. I am probably wrong to doubt BTC as a store of value, Elon Musk certainly believes in it above Fiat, I just can’t see BTC behind the day to day transactions that power the economy’s of the world.
However, even if I am correct, and BTC becomes nothing more than a store of value for a small percentage of company’s. It’s price could easily be valued in the hundreds of thousands.
I agree 100% on ETH, never understood how that took off. Looking back did any of those ICOs running on Eth ever amount to anything of real value?
Yes, correct. If you are moving a million, your probably ok been charged $10-$30 in fees. Buying a coffee for a couple of bucks +$30 in charges, not so much.. this is why I feel the Visa / MasterCard thing is so misleading. Combined, they are over 40k transactions per second. Linking that to BTC is a joke.
Only BSV can come close ( and not even BSV today ). TPS on BSV should be around 70k within the year, (TeraNode) and carry on growing from there.
MasterCard and Visa have backed BTC, but I think it’s to protect their existing business model. BSV could be the eventual disruptor. Assuming it gets the backing it deserves.
I was a believer in the BTC as a store of wealth, ( Digital Gold ), but now have some doubts. Without real utility it has no real value at all beyond someone prepared to buy when you sell. It reminds me of the Dutch Tulip Trade.
For UAMA however, this all makes little difference. Mine for profit.. simple as that..
Just remember BTC scales to only 12 transactions a second.
Everything else would need to goto the lightning network, and that is NOT On Chain
BSV is over 30,000 transactions per second on chain today
From 2019 they stated they were still mining.. Stoped for a while when Crypto slumped, and now started back up..
This would indicate they still have the miners.
So that is good News
This is the picture they posted along with the PR, which suggests they are still intending to mine Bitcoin, and the domes are still there etc...
One interesting point.. The Bitcoin Logo.. its the BTC one not BSV. Maybe should not read too much into that, but maybe moved on from Calvin / TAAL now.
https://orders.newsfilecorp.com/files/6697/78492_c54fc8c3e41afa01_001full.jpg
Good luck to you all
Yep, would not be surprised if they are mining, even the S9s are making money again now. It would be a shame if they are not. They may have even bought some miners or found another group to use the domes. For all I know, they could even be working with TAAL.
I made the comment the dispute was friendly, to me it was to legally cover bases and protect liability etc, there was no anger in it. It would not surprise me if Benoit was still working with Calvin / Taal
Here is the TAAL PR, they got themselves removed from the dispute ( as it was really Tansley ), it was later settled , which I assume mean Calvin paid out.
https://www.taal.com/news/taal-removed-from-arbitration-in-dispute-involving-hashing-equipment/
In all it looked quite friendly,
Two things, first i never short any stock.. period. I hate it as a mechanism of trade. What happened to the short sellers of Gamestop should serve as a lesson to all. They absolutely deserved what they got.
I would ( and have ) bought PUTS, which are a different thing. Worse case, when they expire you lose your money. You cant lose more than you put in. Im not saying thats a good trade on RIOT, to me the chart looks strong. Sentiment is often a bigger driver than value. ( See TSLA ).
Second, I am not convinced that UAMA is currently mining anything. If you remember one of the later PRs they got the rights to the miners for $1 a quarter and thats the last we heard. I always assumed those were Calvins Miners which were fairly old ( S9 equivs ). Taal bought a bunch of mining companies one of which was Calvins old mining pool, there was then a contractual agreement where some miners were tied up and could not be returned to TAAL. This dispute was settled ( cash payed ) and TAAL got the miners and sold them on. I am pretty sure this was with UAMA... so Benoit got some cash, but no miners. ( unless he was the one Taal sold them to)
I really don't know what will be announced, it could be they are going back down the Ruralcom route, not blockchain...
Indeed some life left....
No idea what will be announced, but very interested even if not invested.
Not sure if they are still working with TAAL or not, but TAAL is doing really well.
A very simple scenario on the way for DB.
Europe is spending money to cover the.COVID bill, Money it does not have, countries in the south will default which will have a knock on to a lot of companies already hit by the pandemic. All EU banks at risk, but DB will be the main one to watch.
As the world steps out of Covid, growth will return everywhere ( even Europe ). This will push inflation and then interest rates. This in turn will drive the defaults on national Debt in the EU.
It may take a while as the EU can just keep printing for a while, in the end the EURO will die, and the EU nightmare will be finally over.
A single Currency without Full Political Union ( United States of Europe ) was always going to fail.
Nice to see BSV teade a little under its own merit, not simply follow the general Crypto market.
Great time to mine BSV.
Etrade is showing the new OS
Shares Outstanding 33.5M
And a Marketcap of $1.23 Million.
Not showing on the OTC site yet.
Should all be reporting properly by next week i guess
Yes, with a Market Cap of just over 100 Million
And sitting on $40 million CASH
It should easily double / quadruple very quickly
$10 - $20 would be my range, but a few PRs on what their plans are for the cash maybe needed to get it going.
Also expecting the final update on the Miner Deployment ( the last one was it was all on schedule , due to finish end of March )
OS should increase to about 33 million following the closure of the offering
Interested to see if that’s reflected in the Float.
Also, as mostly long term holders have bought in ( Calvin etc ), I am not expecting to see much selling, even when the SP goes beyond $4.6
Also expecting some PRs on what they are using the money for. More miners etc.
Vancouver, British Columbia; March 18, 2021 – TAAL Distributed Information Technologies Inc. (CSE:TAAL | FWB:9SQ1) (“TAAL” or the “Company”) a vertically integrated, blockchain infrastructure and service provider for enterprise, is pleased to announce that it has closed its previously announced public offering (the “Offering”) of units of the Company (the “Units”). Pursuant to the Offering, the Company issued 8,695,652 Units at a price of $4.60 per Unit for aggregate gross proceeds of approximately $40.0 million. Calvin Ayre, an existing securityholder, acted as lead investor to the oversubscribed Offering, purchasing approximately $13.5 million of Units.
Legal firm supporting Ira looks like it’s about to implode...
https://coingeek.com/ira-kleiman-attorneys-involved-in-ugly-internal-legal-battle/
That would be the RS been held in the share holders best interest of course.....
How many stocks has this crook done this to now ?
The CEO is buying shares via Investel. Something is happening
https://www.streetinsider.com/dr/news.php?id=18134189&gfv=1
No longer a share holder, but good luck to those that are.
BTC above 60k and pushing BSV along with it.
Expecting a big push over the weekend
Excellent, also it’s closing on the 18th, so they will get the cash quickly. We should get more PRs out soon on what they are going to spend it on.
Paying off Debts
Buying Miners
Maybe some small companies