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This stock is all the way down to 2 cents for a reason and it's not because this is an incredibly strong miner.
Bakkt issuing options and cash settled contracts on bitcoin. You may never see a huge bitcoin rally again.
As time wears on more and more folks in the community think that the recent bitcoin rally was due to already accomplishing the projected price gains from the coming halvening.
Govt can't stop bitcoin but they can control bitcoin price. They do this by using intermediaries (banks) who use the futures market to manipulate the price just as they have done for years in the gold market. Right now open interest is at an all time high in the gold futures market and that is how they stopped the recent rally in gold. Gold is at all time highs in almost all other currencies but not here. Back when they started trading bitcoin futures the price collapsed from 20k to 3k. Trump even bragged about popping the bitcoin bubble. You are completely at their mercy and that is one reason this company while not a scam has almost no chance for big gains. Another problem is never ending equity financing as miners become obsolete and have to be replaced. Maybe we will be luckier with ethereum.
IMO this company is not a scam however there is little to no chance for substantial gain although I still believe 6 to 9 cents is possible sometime in the next few years.
Is this stock selling at 1 x sales? Just saying its cheap if that is so.
It is what it is. At this point shareholders are in for the duration. You can't lose more than a cent and a half or so from here. One new concern going forward as it gets cheaper is, let's say those pictures of the miners are real. If stock drops to say .0060 and there is a takeover or mgt tries to take it private at .07 or something like that. Somebody could own the whole 42 mil shares for less than 3 million bucks plus debt and whatever. That might screw a lot of guys around here.
Selling has picked up steam over the last couple of weeks. Falling knife. Not good. Maybe level off around a penny lower. Maybe not. I am in no hurry to buy the dip. Rather pay a little more for a stock on the way up.
Thought I was smart getting in at .031. Be that as it may with all the selling that has gone on try to remember that there is someone on the other side of all those trades. Could be the mm at least in part but how do you know it isn't the ceo who is finding buyers for some of that stock? That would be part of his job. I hope this disaster is a lesson going forward for both mgt and stockholders
This ceo with his stellar ACTUAL track record of all the stock price gains is going to make a lot of people into millionaires. Of course these people have to start out as multi-millionaires first.
Wow! now you have an opportunity to literally put your 2 cents in. Not looking forward to the next round of flooding the market with new shares once again.
I recommend watching crypto zombie on youtube tonight. Watch the whole thing
Surprised to hear that. Since a high end miner can generate about $42 a day I thought a midrange miner should be able to do about $27 per day so I used that number. Actually I'm a trader not an investor so not here for the long term. At .062 I have a double and I think I can get a three bagger here if patient.
If they have 800 miners producing then they should be grossing about $22000 or so per day. IMO they need about ten more buildings like the one in the photos.
May not be done puking yet. Might be one last thrust down in store. In any event it might be close to the end of the down cycle. Check out the short interest. Not exactly scam short interest is it?
FYI Somebody besides me was the buyer on the other side of the selling earlier today and it wasn't short covering.
I'm in on some and have other orders pending.
Coincidentally this stock bottomed around this time last year.
Seeing as how the end of Sept is window dressing season when various entities like to sell losers, there might be one more pretty good down move for this stock. If that happens one idea is to put in an open order way below the market in hopes that it executes. On another note, the notion on this board that there are special sellers and that they are setting the price is only a half truth at best. All stocks have sellers and buyers. This stock is down because there are not enough buyers at recent prices. There are a lot of people like me who are watching and waiting for an entry. I hope it happens.
Earnings? This company is still waaaaaay deficient in the number of miners required to make any substantial earnings difference. While they seem to be addressing that problem, they can only move so fast and that means it'll probably be a good while before that comes about and will likely require equity financings along the way. They are very late entering into this game So IMO it'll likely be a really cheap stock for a long long time yet. Another thing. $4500 break even electricity is not a very good number compared to some others.
It's only one day however the stock did have a bullish macd cross today as well as some other technicals showing improvement. It needs to do this again tomorrow and then it should/might pop up on some radars. As I mentioned in a previous post both obv and mfi have been recently outperforming the stock as they both have been trending sideways instead of dropping along with the stock. This constitutes a bullish divergence.
The entire conversation on this board should be about delayed reporting.
Great question but still waiting for an answer???? Are there torpedoes in the water Scooby? Rut Roh!
As absolutely ugly as this stock is, on my chart both on-balance volume and Money flow index seem to be outperforming the stock for now which can be interpreted as a divergence worth watching.
You might be right ....BUT so far the 'ignorant sellers; haven't been very ignorant, have they?
At this price how come the company isn't buying it's own stock back from these sellers? Isn't it worth 5 cents? Or is it because there is more dilution in the cards?
This stock is trading no different than most BTC stocks. They are down for now. Bashers simply embarrass themselves as ineffective fools because reality is nobody is going to blow out a six cent stock.