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Yeah, thats been on my radar too. That was one thing that originally impressed me about HVBTF. HIVE had early adopter status with me in Q4 of 2017. Not so much today, though.
Now about HIVE & ETFs.... or more precisely, Blockchain ETFs in general.
As I posted early on, Reality is doing their launch on the 18th of January. Nice news back then. After that, I did some more DD and came up with ProShares, VanEck, and Direxion that all planned to launch ETFs.
However, the ETF picture as regards Bitcoins is now troubling.
As of 1/9/18, the ProShares & the VanEck applications arenow withdrawn.
http://www.businessinsider.com/proshares-and-vaneck-are-withdrawing-their-requests-for-bitcoin-etfs-2018-1
OK, so that leaves the Direxion shares ETF. It too has been withdrawn.
https://www.sec.gov/Archives/edgar/data/1424958/000119312518006127/d511119daw.htm
So, now that the big boys in the ETF world all ran away like scalded cats, a caution flag has been sent up about the viability of Bitcoin based ETFs.
Today, both the CBOE & the CME have currently trading futures products. My view of the effect of futures trading is cynical. From what I can observe, the net effect of the futures contracts has been to dampen down the bitcoin prices. Frankly, that does not surprise me because futures, options, & ETFs are (IMHO) control mechanisms.
The big players in the fiat currency world see cryptos as a lethal enemy to their monopoly on the printing of money. They are mustering their lobbying power to work behind the scenes to get control of this threat. Its not "live and let live" as regards cryptos. To them, its "kill or be killed".
To break a wild mustang, you have to get a rope around its neck, a bit in its mouth, and a saddle on its back. With the appearance of futures on the CME & the CBOE, it looks like they have managed to get a rope around its neck. With the withdrawal of the big boys from their ETF plans, I'd say they are having a bit of trouble getting a bit in its mouth and a saddle on its back.
Today, this came out.
https://www.etftrends.com/senate-will-hold-bitcoin-hearing-in-february/
And from that article, I quote:
This thing was a buy at 5.73 back on 12/22, as per your post. this was due to it being a bull flag pennant. OK. It still sits in side that self same pennant. With today's buy in but another professional investor group, is this thing still a buy?
TIA
Imperial Whazoo
Here are the facts, taken from SEC filings, as regards John McAfee's current status in relationship to MGTI. The portions of the following that are in quotes are taken, verbatim, from the most recent 10Q filing, dated 11/9/17.
The link to this November 9, 2017 10Q filing is the following:
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12373201
The filing was for the quarter ending September 30, 2017.
There have been 12 filings since that date, and a table of the form types and the dates is a part of this post, and you can find it at the bottom of this post.
Relevant facts established in the 10Q filing are:
1. Mr. McAfee is employed today as "'the Chief Cybersecurity Visionary of the Company overseeing the design of the Company’s cybersecurity platforms".
2. The effective date for the start of this "new employment" agreement was August 14, 2017.
3. "Mr. McAfee’s new agreement is for a term of 24 months". Thus, he is currently employed by the company and it expires on Aug 14. 2019.
4. Mr. McAfee owns "Executive options to purchase an aggregate of six million (6,000,000) shares of the Company’s common stock"
? options to purchase 1,000,000 shares of the Company’s common stock at a purchase price of $0.25 per share;
? options to purchase 2,000,000 shares of the Company’s common stock at a purchase price of $0.50 per share; and
? options to purchase 3,000,000 shares of the Company’s common stock at a purchase price of $1.00 per share.
5. As a part of the new employment agreement dated August 14, 2017, the company extended the term of "Mr. McAfee’s previously granted stock options to August 4, 2022" and "caused them to be immediately exercisable."
6. Since the filing of the 10Q, there have been no filings that indicate that Mr. McAfee has exercised or disposed of any of his options.
Conclusion:
Based on the above facts, each of which is drawn from the most current filings with the SEC, it is a certainty that all statements alleging that Mr. McAfee is no longer a part of MGTI are BLATENTLY FALSE.
Period.
Now, to help people, here are the relevant portions of the November 9, 2017 10Q:
Page 22:
Yeah, they did aquire, like you point out.. I just love it... not dumping but aquiring. See the "A" on the form 4's? "A" as in aquire.
Imperial Whazoo
I call them as I see them & when a company spends $750K to hire a pump-n-dump outfit to broadcast themselves to the public, which is exactly what these rich gize did, then it is a tad incongruent to have it argued that the company is trying to avoid looking like a PND outfit by NOT putting out regular, helpful, informative press releases about the progress they are making in mining tokens. I mean, after that $750K spend, any argument that PRELF needs to protect their image from being seen as a PND seems a tad fatuous, IMHO.
As I see things, the way they counter the automatic perception that came about by the $750K PND spend is they make extra effort to be open about the business. So, the very thing they actually need to do is the thing I talked about in my prior comments: put out clear, informative updates telling the shareholders exactly what is happining as regards mining and have this be a regular, monthly update. That way, they show that they engaged in a 750K spend at the outset to get themselves out there into public view, but now that they are, they are going to bend over backwards to be above board and open.
Your agreeing with my comments is uplifting, so thanx.
Imperial Whazoo
What are the numbers affiliated with this dilution? What are the links to filings describing the dilution you point to?
Thanx
IW
Thats NOT what I'm telling them to do.
Here, let me put in unambiguous terms.
Hey rich insiders.... Go to the effort to do a weekly update. Not a paid promo. A regular, weekly update.
Say this, via a PR:
I think the question you ask is very prescient because it is counter-intuitive for the crypto to be accelerating and the mining company to be faltering.
So, here's my explanation to myself.... nothing official, just thinking aloud. What could be called, with justification, VENTING.
They are doing a pathetic job of highlighting their best quality, which is the mining results. Simple as that. They remind me of an absolutey beautiful babe who chooses to dress in clothes she gets at the thrift shop. I mean, what other company has assets such as the mines PRELF has IN PLACE in Iceland & Sweden?
So, why say NOTHING? AT ALL?
ZERO
ZILCH
NADA....
Why on earth are they NOT saying something, every week, about thier actual production numbers?
I mean, if they ACTUALLY want to uplist, they need to raise their price so they comforably qualify for the price element of the qualification requirements. I mean, there's more to it than that, but go read the requirements for listing on any major exchange....
ON EVERY MAJOR EXCHANGE, it is a given that a low price causes delisting from that exchange, so obviously, attaining price that qualifies is a SINE QUA NON ("without which nothing", in Latin).
Their price has to get consistently up or they will not qualify.
Period.
So, if you want your price to rise, there have to be buyers. More buyers wanting it in their portfoilio than sellers removing it.... right?
To be recognized as a candidate for purchase, they need to tell the world about their production numbers.
Publish actual crypto mining numbers EACH AND EVERY WEEK.... LIKE CLOCKWORK and I guarantee you that the recognition will happen and the big boy investors.... the ones wearing long pants and eating with the adults at the dinner table.... that type of investor will GLADLY buy your shares because you have ACTUAL PRODUCTION NUMBERS published unashamedly on a regular basis for all the world to see.
Simple as that.
You want to get the eyes of the world on you and to benefit therefrom?
TRUMPET YOUR ACCOMPLISHMENTS in a loud and brash and open and plain way.... REPEATEDLY.
When I see rich guys running a company like this one and acting like the rest of the world ought to naturally recognize the excellence that their little company has, what I ACTUALLY see is arrogance that is a kind of delusional self aggrandizement that seems to think that it is somehow an automatic right that the rest of the world should be lining up to worship at your feet.
That ain't the way it works, rich guys.
You are competing for the eyes and the money of the big time investor, and if you want to get the accolades you think ought to automatically come your way, you need to be huimble enough to act like you are needy.
Spend the time and make the effort to put on makeup and a pretty dress and I guarantee you that the rest of the world will turn their heads and figure out some way to croos the dance floor and ask you to dance.
Simple as that.
Rich powerful gize behind this company.... WAKE UP AND START PUTTING SOME EFFORT INTO GETTING THE WORD OUT.
Unfriggin
And as for me, I'm pretty darn tired of watching this tremendous stock languish because the gize behind it are too proud to bother with making sure their unmatched advantages shine so the rest of the world notices.
You can't just put out a PR every blue moon that essentially says "La La La La La.... we have some really nice targets..... La La La La La....".
You need to regularly put your crypto mining numbers on display and you need to shine a spotlight on them and invest in a marching band and send up fireworks, or some other less deserving outfit (like I*TV or R*OT) will get the mining-investment-dollars that ought to be flowing your way.
My two cents worth. And I hope the rich gize running this company take the time to read this board.
Imperial Whazoo
Not. During the 15 minute timeframe of 3:15 to 3:30 PM, a total of 117.7 K traded hands.
IW
Well, to be accurate, Genesis derisked themselves by selling mining operations & management to Hive. Hive derisked themselves by selling ownership via stock to investors.
Genesis has a large share position & a seat on the Hive board.
Hive, for all practical purposes, is the publicly tradable face of the privately held back end mining operations in Iceland & Sweden of Genesis.
Hive is not affiliated with any mining operation other than Genesis. Genesis, being privately held, has not released info that would allow us to "know" about any similar relationships with any other publicly traded entities. However, a thorough reading of the filings of Hive causes me to conclude that Hive would not have entered into their arrangement with Genesis had they not been exclusive as well.
So, DERISKING is the key word for both Genesis & Hive.
Smart business move on both sides, IMHO.
Imperil Whazoo
The only reason I did it was to see if I was wrong in my opinion. I had a favorabkle, but only narrowly informed, opinion. I had gotten interested originally because Jim Rigers is an advisor, so when the thing kept walking back down in price, I got concerned. So, I read it through from the SEDAR filings and I discovered the details were supportive of a good looking future in 2018.
I like it. Nice, sophisticated business plan with lots of growth possible. I like BLKCF a lot better now that I've digested the complexities.
I have the opinion that the tendancy to post ideas in 140 character blogs actually hurts people's ability to comprehend lengthy documents, but its a skillset everybody can master. Just takes patience.
Have a good one.
Imperial Whazoo
You are not missing anythig.
I've just finished reading all the SEDAR dox delineating the deal in the works. I'd link to SEDAR, but they are behind a code protected login gateway, so everyone will have to go there themselvess.
https://www.sedar.com/search/search_en.htm
Here are relevant portions & the doc dates to look at
1.) November 7, 2017
Terms & Conditions of Coinstream deal
"49.9% of the issued and outstanding shares of Coinstream will be acquired by Global Blockchain Mining Corp. in exchange for 3.8 million common shares of Global Blockchain.
The agreement remains subject to various conditions precedent including that Global Blockchain raise not less than US$30,000,000 at which point they would make a commitment to fund US$10,000,000."
2.) December 21, 2017
The private placement colosed, finally, on 12.21.17 and it was on its third inarnation, eventually maxin at $42,965,383.50.
This tells me that these guys are having absolutely no problems raising money.
3.) December 12, 2017
Operational update, important take-away being that BLKCF bought 49.9% of Coinstream, and Coinstream is spending the money obtained by putting that money to work in a Cryptoba, who will do the actual mining using equipment that BLKCF obtains. Cryptoba has not yet begun mining. Cryptoba is currently leasing a 10 megawatt purpose-built date centre located in Manitoba, with costs per kilowatt hour of less than US four cents. Coinstream plans to move its operations into this facility. Coinstream will pay a fixed, low cost per coin for an agreed upon number of coins over a 5 year period.
There are lots of other docs but these delineate what, for me, is the meaningful set of necessary takeaways.
So, then we have the 12/27 PR, containing this:
"The Company is acquiring the equipment for investment purposes and will not be undertaking any direct cryptocurrency mining operations. Further to the Company's news release dated December 12, 2017, Coinstream Mining Corp. has agreed to accept a number of Antminer's, to be negotiated in the definitive agreement between the parties, in satisfaction of the Company's US $10 million investment commitment. Cryptoba Corp. has also agreed to accept such equipment in satisfaction of Coinstream's US $10 million investment commitment pursuant to their proposed streaming agreement with Coinstream."
Link --> http://www.stockhouse.com/news/press-releases/2017/12/27/global-blockchain-to-invest-in-bitcoin-mining-equipment#Psv3CqmSCc3K495X.99 PR
What we have here is a nice business plan being executed with precision.
The deals have been done. Over 50% more money was raised than originally planned, showing excellent acceptance by the business community.
Things are in place for 2018.
Happy New Year!
Imperial Whazoo
Notice also that in today's pr, DPW did NOT mention how many machines they have in place, where they are located, how many are on order, what the delivery schedules are, or how many coins they have mined to date.
I HOPE the number of coins mined will become a regular PR in 2018, and that the reason it did not show up in the PR today is that the year end is not yet here, so an actual accurate accounting of installed hardware or on order hardware or mined coins is premature if they (logically) benchmark things using EOY data.
Just my opinion
Imperial Whazoo
Heres the obvious:
They have decided that they need to strike immediately, even if it means renting space right now.
Their shareholder's conference call was 52 minutes that were chock full of essential vitamins and minerals like:
- they bought a hydro dam to locate a facility at
- they have lots of already paid for space in their factories
- the space they are already paying for has military grade power
- the space they are already paying for has fat pipes of internet connectivity
Etcetera
etcetera
etcetera
So, now they PR that, instead of waiting on the time involved in setup, deployment, local permitting, etcetera..... they decide to strike while the crypto momo is red hot by ramping up via rented space.
I've business in major corprate IT as well (I'm head honcho of an IT consulting firm....) and I had absolutely zero trouble comprehending both the reasons and the value they saw in ramping up in rented space while they parallel things by building out as described in elaborate & comprehensive detail in their shareholder telecon (52 minutes chock full of essential info... give it a listen, folks).
Hope that helps. It should.
Imperial Whazoo
Hi Letgo
I appreciated your info via the pPM you sent after my post about MGTI.
I can't respond with a PM of my own until next Friday. But since you included a few stocks, and because I hate to take without giving, I'll post back a PM next Friday.
As regards that part of the 8K, I'll read it over the holidays and get back to you. I'll have to precisely define what, exactly, the SPA is, but it does look to me like the effective date is 12/15. I can not decipher how they have the choice of either a cash or a cashless use of a warrant because I thought warrants are instruments that, by design, require you to spend money in order to exercise them. So, what a cashless warrant is, I simply do not understand.
I'll PM you next Friday in happy hour. Between now & then, I'll work on MGTI & post publicly.
Thanx & Merry Christmas
Imperial Whazoo
Well, I'd like to give out all my hard work for free.... NOT, LOL.
MGTI is obviously on the list, and you can look at my posts and I tell people about certain ones that I watch, and some are not the standard ones other people watch. Gut I'm not interested in giving out my proprietary crypto stock list. Sorry.
I have a system built on a set of foundation cornerstones. One of them was illustrated as clear as day by the 11:57 AM 640K trade in MGTI that I described in my post. I told folks why it mattered and explained the logic I used to decide that MGTI was a solid day trade. Beyond that, I'll post from time to time, and I'll work privately to deploy my trading system in my own account, but I have zero interest in being a guy other people ask for ideas on a regular basis. I simply don't want that responsibility, and I also have too much to do every day just to insure I stay ahead of the game. Like I told a really nice poster the other day.... I had a position to protect that I had an 11% gain in and I simply did not have time to deal with their kind question. I gotta make a living and I can't spend very much time talking to other people unless they give me back info that is equally valuable. Simple as that.
Thanks for the kind words.
Merry Christmas
Imperial Whazoo
No, I can not tell you any links or sources.
And anyway, this is the MGTI board. If you look at today's chart, you can see the big volume event at 11:57 AM, so I'm describing something that I actually deploy in my own trading, but beyond that, I have to stay in the MGTI idea realm.
Sorry.
IW
Its more of an art than a science, but there are certain ways to hold the drum sticks, LOL.
Anyway.... you were really clear in that answer.
MGTI cleared the decks by re-orging to get rid of debt. Due to having a long list of other cryptos, comparing the reaction of each one to the flash crash in BTC prices allowed me to discern which ones are real and which ones are not.
MGTI declared itself to be real today, IMHO.
They had made strides towards being a real player, IMHO, when they bit the bullet and did the "no-debt" BAD deal with their prior lenders (gave them more shares than seems fair in exchange for sell-time triggers & zero debt). Facing the flash crash in BTC prices, MGTI fared really well compared to a lot of favoered names in this disruptive niche. Who know but that being more financially solid and having a real plan for mining.... who knows whether that played into them acting better by far than a whole lot of others today.
Also, take a gander at the recovery in BTC prices right now. Do ya think, maybe, da big boys drove everyone out in a panic to clear da decks fer themsevles? Ya think? LOL
$14,491 and climbing.
IW
Here's how I see it. Use MGTI as an example.
I use a real time charting package used by lots of people to chart real time data.
I set my screens up like this:
I have a 1 period, a 13 period window and a 1 day Ichimoku up. Every one of them can change the displayed time frame to 1, 2, 3, 5, 6, 10, 13, 15, 26, 30, 39, 65, 78, 130, and 195 periods because thats what I set the chart defaults to. These are all factors of 390 minutes, which is how many minutes there are in a trading day.
So, looking at the 1 minute chart, you see a huge (640.5K) volume bar in a single minute at 11:57 AM central. The price action confirmed this was to be understood to be a buy rather than a sell event (even though its true that every buy consists of a sell and visa versa) for one reason: price climbed after that event and never looked back. There have been NO similarly sized, concise volume events since then. Its safe to read this as somebody buying in one quick pull of the trigger and not looking back.
Since then, the waveform is a stairstep where every multi-minute increase in volume that happen contiguous to each other ARE NOT followed by a similarly sized set of contiguous sell bars.
The idea is that volume goes up for several minutes. You can see it in the histogram along the bottom. If equal volume comes back out after that contiguous multi-minute volume event, the momo is NOT up or down. Its sideways. If a multi-minute volume event is over balanced to the up side, its a buy event. If its over balanced to the down side, its a sell event. Volume is like a fingerprint telling you what the momo is.
Then, once the chart declares its internal momo, you use standard charting tools to lay out guidelines by which to gain focus as price navigates around. Gaps, trends, hammer candles, hanging men.... that kind of things.
Thats what I did in my earlier MGTI posts both yesterday and today. The world saw a big event in BTC prices and all the stocks reacted, MGTI included. So I looked at the charts, saw volume events happening everywhere, went to the stocks I'm following, and began to try to see whether the underlying BTC event was long duration, short duration, or not clear yet as to its lenght and/or direction. And also, to see if the reaction on the crypto's I watch generated tell tale evidence of whether that particular crypto stock was internally strong compared to other cryptos I'm watching. The idea is to try to have the market tell me who the REAL leaders are.
I treat MGTI like an old fashioned open outcry pit. People yelling at each other to buy or sell and signalling volume intent back & forth.
Thats why the huge buy at 11:57 AM (that has not seen a reciprocal sell volume event), and each step up since then, itrinsically mean that the momo in the MGTI "pit", as it were, is up.
Some guy across the pit bought a huge chunk.... and the rest of the pit started screaming "BUY!".
For the moment, that is.
You gotta "listen" to the volume happening in the pit. Let it tell you whats going on.
MGTI got bought at 11:57 AM and it has yet to break the "fever" of that volume event.
Thats how I look at the MGTI chart (and pretty much all of them, as well).
I'm not assuming some kind of pattern balance over time or any % chances of certain thing hapening. I'm reading the pattern of the volume events on the chart in various time frames.
Volume is the key, not chart patterns. Volume events tell you the internal truth about what is happening in real time. Thats what charts are for.
Thats why I think MGTI will hold for the immediate future. By which I mean that, at any moment, another set of volume events could happen and the next interperable "pattern" will have self-declared
As for whether its safe to hold any crypto stock over the next three days when the rest of the world continues to trade Bitcoin 24/7...... I'm neither saying to buy nor sell. I make no recommendations. I read the charts based on volme. And anyway, I'm a DAY trader. I don't come into the day pre-deciding what to buy. I keep a list of candidate stocks and I cruise them constantly looking for volume events. When I see one, I buy it or sell it or do nothing at all.
I'm a DAY trader and when that volume event in MGTI happened at 11:57 AM, it became a trade for the day. ACTUALLY: IT BECAME A TRADE FOR SOME UNKNOWN PORTION OF THE DAY.
Simple as that.
Hope that helps
IW
Why next Wednesday? Something anticipated that day?
IW
This is what I love about the MGTI chart today. MGTI had a gap at the 618 fib level (4.26 to 4.42 on 12/15 to 12/18). Today's down move took that out. So, thats good. Gaps tend to haunt you because they tend to get filled, and that meant, in MGTI's case, a pullback to take that gap out.
Thats what happened. Today, the dreaded gap to the downside at the 618 fell. The wick of today's candle punched thru it and then price recovered. Hence, the wick. Its been dealt with, so its not looming out there any more.
One problem is still looming as regards gaps to the downside. I'l describe it, but let me just say at the outset: I doubt it has to get filled. I'll explain.
There's a gap at the 718 (3.41 to 3.50 on 12/11 to 12/12) and today's tail did not fill it.
Now here's my opinion of the necessity (or not) of filling the gap at the 718 Fib retrace level: I don't think its necessary.
Here's why.
The pattern that existed from 8/31 to the upside breakout on 12/18 was a simple rectangular range. The top was the 8/31 high of 4.26 and the low was tested 3 times during the 3 1/2 months it was in the range (low was approx 1.63 & tests were 9/14, 10/25 and 11/22).
The range got broken for good on 12/18. It was a strong take out of the range... the take out was to the upside.
There was a false break above the top on 12/13 where the top of the range was temporaraily taken out. A head fake. Anyway, the actual capitulation where prior resistance became new support was on the 12/18 breakout.
So, the rule of thumb when a range falls by the wayside is that the former resistance becomes new support.
Former resistance was 4.26, so new support is 4.26
What this means in terms of the need to take out the gap at the 718 is that the gap (3.41 to 3.50) is well inside resistance.
So, the ideal thing to have happened today would have been for the 718 gap to have been hit and rejected during today's down move. In actual fact, all it did was get into the former range and them reject that and move back above the former resistance level, which is now support at 4.26
As I type, MGTI is at 4.48.
The way I'm gonna read this is to watch the movement in the days to come. The days between Christmas & New Years are going to be thinly traded markets so those days are ideal for pushing things around in a wierd way. So, the 718 may eventually get taken out. But the key to the thing is going to be the resiliance of any penetration of support. Does the 4.26 support level hold in 2018 when people return from their holiday and the market gets into full swing for 2018.
Also, think about what the tax implications are going to be as regards long term gains. Suppose big players want to get in and get a low tax gain and, for the sake of argument, lets also suppose that their overall view is that crypto is going to be a big disrupter & money maker in 2018.
So, if thats true, ask yourselves whether they will be buying any down moves in a limited list of "essential" crypto plays or not? If MGTI makes that list (and I think it does), my "GUESS" is that there will be buyers on any down thrusts between Christmas & New Years.
I'll be watching like a hawk.
And bear in mind: none of what I say is a recommendation to buy or sell any stock. I want that understood. These stinky pinkies are very risky and consider my opinions as just that: OPINIONS only. Opinions are like armpits. Everybody has them.
IW
I like you, man. You are always so smart & your comments build up rather than tear down, but as regards the security device.... whats it called...? Sentinal.
And the phone....
Success will be a long time coming on either one. Money is the key.
Take the phone, for example.
If he ever hoped to fight thru all the regulations on the phone internationally, it was going to take money. How was that money going to be raised?
Crypto mining. That was his ace in the hole.
What happens if the financial internationalist thug types win the day in the Futures manipulation game on CME & CBOE?
No go crypto as a source of cash. No bueno. No bueno big time.
End result?
To prove out the tech side of the Mac man's dream, they have to sell shares out the wazoo.... dilute to the sky....
Dilute.... Etcetera
Etcetera
Etcetera
And what about the Sentinal device?
Patents baby. And deep pockets & long court times to fight with the bigtime internationalist thieving corporations who can suffer years of loss leader legal fights to bleed MGTI down.
Big players stealing his ideas
Big players delivering their own solution.
Big boys with deep pockets torpedoing a tiny, money hungry start up that is run by a edgy genius with a less than stellar track record personally.
So, I'm gonna have to simply tell you that we will just have to agree to disagree.
I'm in the camp that MGTI sinks or swims mining crypto. So IMHO, MGTI is a creature of "The Creature from Jeckyl Island", as it were, in a convoluted, upside down kind of way. Ironic indeed.
We just have to agree to disagree, my man. It is what it is.
Merry Christmas Howbilly my man. Merry Christmas, and here's hoping the international financial criminals get their head handed to them collectively by the sheer power of the desparation of millions of financially oppressed people, world wide, to whom blockchain has been the one and only breath of hope for actual financial freedom in many, many years.
IW
Well, all that jostlin' at the end of the day by whoever was standing tall for MGTI and whoever was smashing the MGTI price down was pointless because the net net of it was that the master manipulators of the trading world thrashed the Bitcoin price bigtime at open today
The new CBOE & the CME futures contracts is the tool set the big manipulative international bankster fraudster types use. They've run the show since the creature from Jeckyl Island days..... those gize now have the ability to manipulate the prices & what has happened to the Blockchain world since Mon Dec 10th (when futures began to trade)?
We have seen them jam prices down. They are indeed quite bright, aren't they?
China tried to control things by making a lot of their new crypto industry illegal.. Didn't work. Even Warren Buffett said that, if China couldn't control it, no government could. Well, no government has. China's efforts were fruitless. Bitcoin rebounded almost immediately. But the international fraudster cartel is giving it a go. Bigtime, baby. Bigtime.
Now the battle royal is on in earnest. Can the creature from Jeckyl Island control it through manipulatioin or will they, too, fail? How ironic that the battle is on over Christmas.
MGTI will be a winner long run if prices on coins rise. If they do not stay high, its a lot less attractive a stock & if the international criminal banksters win the war, it will be toast for the entire industry, IMHO. they creature that will arise out of the ashe will be an internationalist version of blockchain that they control. Sad if it happens, but it is what it is.
One good thing for MGTI, though... Their last re-org steps left them a heck of a lot better off in terms of zero debt than any other player in this narrow niche.
If they get their machines up & running, they will still be a player.... even if the master manipulators out there in the financial markets succeed in thrashing crypto prices big time.
What excitement. We'll all just have to wait and see.
Merry Christmas.
imperial Whazoo
Well that was interesting. Earlier in the day, since everything but a couple of crypto stocks were down big, I decided to draw Fib retrace lines on a lot of their charts, including MGTI.
For MGTI, I used:
Top at te 12/20 high, which was $8.14, & the low at the 11/30 low, which was $2.01
Note that the choice of top & bottom for Fib retrace levels is an art, not a precise science & I'll fiddle with other tops & bottoms tonight when I set up for tomorrow. But the two I chose are pretty close to the rule, as I use the rules.
Basically, MGTI's .618 Fib retrace was $4.36, which also happens to be really close to the top of the gap ($4.26 to $4.42).
So, today's low almost got ther and it looked like it was going to punch it out.... until the last 10 minutes, that is.
Low of day occurred @ 2:02 PM Central time, at $4.51. Not quite the .618 Fib retrace, or the top of the gap. Very interesting.
I mean, pretty much everything in the cryptio world wasterribly red todaay and MGTI was no different, but whoever was systematically selling MGTI was really trying hard to force it down thru the .618, but they failed rather spectacularly. Not only did price never actually get ther, it turned and ran to the .50 retrace level at the close. Very interesting.
So, the close was the interesting part. The .50 Fib retrace level was $$5.08 & I was gleud to the Level 2 & the Time & Sales near the close. This was a VERY measured and deliberate buy into the close, IMHO. Looked to me like some desk somewhere got the go to buy it into the close to take it to the .50 retrace.
It crossed the .50 retrace at 2:58 PM Central, and it closed just below that at $5.06. 2 cents below the .50 level, but it crossed above it less than 2 minutes before the close.
200 shares at $5.10 at 2:58:03 PM. Cool.
I'm not privy to the chatter on desks at big trading shops so I don't know whether the inability to close at or above $5.08 (the .50 retrace level) was victory or defeat for the outfits trying to force the price down all day (check the DTCC reports in a week and I bet id shows the attack dog sellers were E-Trade or TD Ameritrade, or both).
Anyway, since whoever it was, on a terrible day for all cryptos, could not manage to sell MGTI so that it closed below the .618 Fib level, they failed to force it to close it at or belo the .618 ($4.36), IMHO, the victory goes to the MGTI side because MGTI held the .618 and even succeeded in showing that it had buyers all the way back up to the .50 level. May not matter if Bitcoin continues to fall, but for today, when cryptos were awash in a sea of red, MGTI showed it had some strength by not capitulating at the EOD.
Not making a call here. Just watching it like a hawk and trying to learn from the charts.
Keep it between the lines, don't drive tipsy, & Merry Christmas.
Imperial Whazoo
What's the upcoming news rumor that you are saying will happen Monday at close? I nosed around but couldn't find anything.
Details? A link to whoever or whatever the source was?
TIA
Imperial whazoo
I was gonna dig it out this weekend but now I don't have to thanks to hobobilly.
And I fully concur with your point about the new buyers obviously having a heck of a lot of confidence in MGTI's future.
This confidence really stands out because, when you look at the price the new investors are willing to accept vs the price the older two entities were able to force on MGTI, you can't draw any other conclusion than the obvious one: the future is really really bright for an outfit that has the head start that MGTI has.
2018 will turn out to be a stand out year for MGTI, IMHO.
I found MGTI a while back as my first tradable stock that was setting about to mine as a corporation. They were ahead of everybody else out there, pretty much. Lots of companies are now buying private mining operations and getting into the mining business that way, so who the leaders in 2018 end up being remains to be seen, but IMHO, confidence in MGTI that is illustrated by investors willing to pay up tells me a lot about MGTI's prospects.
There's a lot of money being thrown around right now and all kinds of little companies are re-orging to get positioned for 2018. To read that MGTI has settled old issues, eleminated long term debt, ordered new hardware, and brought in new investors speaks well of the company.
GLTY
Imperial Whazoo
They got 2 investment groups out of their hair by granting them larger numbers of shares as an inducement to convert debt to common shares & warrants. Good price for the investors on the shares & warrants.
But, like I said this morning, they got to get rid of all their debt. Zero. Zilch. Nada. Nothing.
And, with the news release, we get to see that somebody else out there had confidence enough to have bought shares & warrants, and this time, the warrants do not bear bad prices. In fact,as we close the week's trading, we have some way to go to even get to their designated conversion price. Tells you that somebody out there likes the future prospects of MGTI's mining operations.
When a little company like MGTI wants to grow, usually, they have to trade massive dilution & control of their company for the funds to proceed. This management group has a sweet situation. They can go forward with the necessity of diluting to raise funds behind them because the money they currently have is going towards an enterprise that can generate massive cash flow without having to dilute at all. A very sweet situation indeed.
I like the re-org. Machinery to mine crypto with, no debt, and rising crypto prices. Nice situation to find yourself in, IMHO.
Imperial Whazoo
Thank you hobowilly.... I new I was right about the zero debt thing. Now I have less to re-read this weekend to keep pace with all this crypto news.
Imperial Whazoo
Anyone got a clue as to what just hot shotted this puppy at about 1 PM central today?
I was watch it & considering it and BAM..... before I could even focus on it.... BOOM!
Gotta be news.... not seeing it anywhere though.
Anyone know?
Imperial Whazoo
I'll find the phrasing to which I'm refering, if I am correct, & I'll do that this weekend. If I read it right, I'm right that it said there was not going to be debt. Zero. If I misread it, you are right and there is.
In the mean time, MGTI will have to wait. I'm up 11% on TEUM & I've profits to protect.
Thnx
IW
Do me a favor then & short cut it for me. I don't have time right now to find it, but I just read a specific statement in my read thru of the docs I've looked at in the last hour on this & it said, in no uncertain terms, that MGTI emerges with zero debt obligations. Zero. i'll find it over the weekend but I read it and reread it at the time & its a plain as the nose on your face. So, you need to link it all to support your assertions regarding debt etcetera.
As for me, all I want is to trade the other stocks today that I'm in and to get thru this swamp of wordy docs later.
So, if you can do so, post links to prove they never said there will be no debt. As I was reading thru them, I noted SPECIFICALLY that they said there would be none and you say there is no limit. It can't be both ways and if you are right, then you ought to be able to post the links. I'll dig out what i read & if I read it wrong, i'll post accordingly. At present, I'm 90% sure I read there would be zero debt.
Also, link to your assertion that there is no limit to debt.
and link the place where the former docs contained limits to the dumpage. Of your three assertions, thats logical. I'm not the least bit surprised if they did have dumpage limits in the originals.
The main issue with what you posted, in my opinion, is that I am 90% certain that one of the several docs I just waded thru made clear, unambiguous statement that there is no debt as a consequence of this 8-K and its attachments.
IW
I just slogged thru the 1st doc, and based on the verbiage in the ihub link, I'm pretty safe, I think, in assuming the two are identical. so, I'll get to the second & compare the two later. For now, i'm going to act as though both docs are identical save only for the shares involved.
Basically, MGTI gets to have zero debt in exchange for volume per day & volume per week levels these shares can be dumped into the market. Proly a good thing long run. My guess, although I've not gone back & waded thru the verbiage of the two ORIGINAL docs back in May, for example.... I'm also assuming that the new agreement puts these weekly & daily volume dumpage levels into the equation.
My guess is that the original agreement had no such dumpage limits.
See, my guess is that the original disputed terms did not limit the number of shares per day or per week. So MGTI was facing about a 15% share increase if the shares put into the lenders hands if they converted on the old agreements & then turned around & dumped those new shares. There was no limit on how massive the dumpage could be. Now, there is.
So now, MGTI comes out with about 5% more shares dilution exposure & NO DEBT at all and mining going on & bitcoin prices rising regularly, and equipment on order & LIMITS to the dumpage levels.
They came out a tad disadvantaged but they also did manage to get some things of value in return.
We'll see if this is a dumper delight or not.
IW
And admittedly, until I read all the docs and compare, I'm guessing a lot of things for the moment. And as ever... all just opinions.
Thanx man. Preciate that.
The one released last night, as shown on the ihub page
https://ih.advfn.com/p.php?pid=nmona&article=76301879
Look down to bottom @ Item 9.01 Financial Statements and Exhibits. It has two links. Click on ech of them them. Nothing for me. How bout you?
IW
I went over there too & there is no 8-K listed there. Also, when I clicked on the two attachments to the 8-K, all I got was a re-display of the same thing I was currently looking at. Does anyone get the attachments when they click on them? I
d like to read the actual attachments so I'd appreciate anyone who can provide a link to them, assuming that the referenced attachments are out there to be gotten.
TIA
Imperial Whazoo
OOPS: EDITED
Did more research & that is not our guy. Could be related.... like his son, maybe. Thnx
I'm kinda on a streak here, researching the people that are involved in the reorganization of ENVV into Black Cactus, & I found another vid on youtube that I'm pretty sure is Harpreet Sangha.
Check this 8K filing out.
https://ih.advfn.com/p.php?pid=nmona&article=76291196
The man is Dr. Ravindranath Kancherla and here's a youtube of him speaking
If anything, the money flowing into MGTI from crypto mining is a substitute for raising cash for high tech projects (research, manufatucring, administrative etcetera) such as the Sentinal device & the phone.
The death of most tiny companies trying to launch a new piece of innovative or disruptive technology is the need to raise cash. To do this, the typical choices are dilution & selling off control to otsiders.
Because of the mining, either of these two pieces of technology have a better than average chance of coming to fruition. There will be less dilution and there will not be a need to loose control of the company as the price necessitated by the high costs of bringing something into public view and acceptance.
So, IMHO, MGTI will either continue on its current road to an eventual release of either of these technologies (or both) using money raised via mining, or it will sell off one or the other (or both) to corporate buyers who take the ideas & run with them for themselves.
Thats how I see it.
I thus see mining as the most important endeavor, not the two devices. My opinion only.
Imperial Whazoo
BBummer man! I held . Mainly because I was trading MARA, DPW, RIOT & MGTI so I was busier than a 1 armed paper hanger working alone, so I didn't have time to over think this one.
Here's my read on what just happened.
1.) This stock is truly a strong stock. threre are hotter plays, like those I just mentioned, but this one is strong & will generate real retuirns in 2018. My opinion.... only that, but still, thats my read
2.) there were shares coming out today, free and clear, so all the brainiacs out there who think they know a thing or two decided that, what with shares popping free, there was going to be a dumpaholic happen & they thus went short on this puppy.
3.) the smart insiders, like all the leadership that everyone could watch in the several youtube vids that people were directed to watch yesterday, were hiding in the tall grass, waiting to pounce.
4.) so, with a host of smart young lions puting their chit down on the short side, the real knowledge guys stepped in, pushed the ask up, bought a bunch, and hence, forced the young pups to have to cover.
Thats what i think just happened this morning.
Only my iopinion & I might have been spooked too if I'd been doing something other than trying to seize the moment on several other hot crypto plays.
L8r gize. gotta go protect some positions on other plays.
Imperial Whazoo
Now here's a VERY helpful youtube video.
Check this out now that teh two former videos were listened to.