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Volume appears to be declining month over month since Feb, but this may not be a negative. Sell volume at the bid has tapered off too, IMO, which is interesting.
Still appears there aren't a lot of shares available at ASK, other than some resistance at the $.085-$.09 range. Above that there aren't big blocks showing.
I agree, even though the exchanges & BTC security have evolved greatly since Mt Gox 2011.
You may not need to, once the skull & crossbones get removed. IMO, he's done a great job at getting rid of the weak hands in this stock, which makes it primed for a significant move up, on real progress, like we're just starting to find out about.
Interesting that mgmt has been fairly soft spoken, so they're obviously not pumping the stock, nor selling a single share this year to my knowledge. The price action, although wafer thin, is still quite strong past two months. I'm not adding until filings are current, hopefully next week, but I like what I've been seeing.
You may be underestimating the value of the BTC network, the most secure & accessible financial network in the world. Other networks require intermediaries and long clearing times with limited accessibility, not to mention some ridiculous fees. I did an ACH transfer from my bank to broker this morning, and it won't clear until Thurs because of third party risk, and that's after decades of banking development... the banking system needs an overhaul to put it mildly.
Buying BTC is like buying an anti-dilutable piece of what will be the biggest financial network on the planet, IMO. Imagine if the entire internet was for sale in 1994, and only 21 million shares were available for ever.... That's what we have now in BTC, only with $hundreds of trillion in monetary value needing a better home than crumbling fiats over the coming years, it will dwarf the 90's internet $value.
The reason I'm not buying ETH is because it's proof of stake, not totally secure like BTC's proof of work network, which gets more secure every day. It's game over, just like Amazon is game over for retail stores, iTunes for CD's, etc
Yes, that's an impressive difference, but here are my thoughts:
BTC isn't designed for micro-transactions, but it does allow moving $billions 24/7 anywhere in the world there's a computer for almost nothing (probably under $30 fee for a $10 billion transaction) and in less than an hour. Try moving $10 billion in gold: probably $10 million in fees, plus hiring a security team over a 4 month period. Wire transfers don't work 24/7. BTC is a store of value that's quickly replacing Gold (look at charts since Aug).
BTC can't compete with BSV on micro-transactions, but the institutions don't really care, the votes are in...look a the mkt. cap differences: BTC is the elephant, BSV the ant
Lastly re: VISA, if anybody is idiot enough to spend BTC (up about 200%/yr over the past 10 yrs) at a store instead of using fiat currency (deflating faster than a popped air balloon...more USD printed, aka: dilution, in the past year than in more than 200 years from 1776-1979, than they deserve to give their BTC to more knowledgeable holders. The institutions are likely never selling BTC...just borrowing against to avoid cap gains. This is one of the reasons BTC float keeps disappearing. Kind of like UAMA now that I think of it. Perhaps after 3 years of "work" the negative posters have inadvertently set UAMA for a blastoff.
BTC is likely going up big even from here. VISA announced last week that they plan to enable bitcoin payments at 79 million merchants. Goldman Sachs reported that 79% of their clients (likely all high net worth) say that BTC could reach $100K this year. Personally I think it'll happen by Oct or sooner, but it's good to know that the high net worth former doubters are coming aboard.
I agree, very exciting. The big difference is profitability with >$55,000 BTC vs. what they did in 2019. Wow, this is a game changer for this stock. Like that UAMA "will also begin to assess options to upgrade its servers to allow for more efficient mining." One could easily substitute "profitable" for "efficient", IMO.
The cash flow prospects of this tiny company could get a massive boost, maybe it already has. Notice nobody with size wants to sell now...
It matter, IMO. The sophistication and depth of shareholder $pockets largely depends on the exchange. NASQ & NYSE investors have almost unlimited money, not so on PINKS.
Thx fromtheuk: there a ways to trade out of a short that goes against me, and I've shorted RIOT before successfully, but I appreciate your perspective. Perhaps a pure long on UAMA has better reward to risk.
My guess is that they're mining again, just because BTC is roughly 1000% higher than the last time they were early last year. I think the rise in BTC pulled them back into the game. But, Benoit could have multiple things going on, who knows... We'll know more Mon am.
MARA was up more than 10,000% last month TTM, but I'd rather short RIOT because their management group seems to be idiots with how they spend money vs. MARA.
Also, UAMA has no chance of rocketing like MARA & RIOT until it gets on a more credible exchange IMO, at least OTCQB. Of course NASDAQ would be much better, but don't think they're close to be ready for that and it would be a misfire if they went for that now, IMO.
fromtheuk, I'd like your feedback on this idea: if UAMA is mining again, and they bring their filings current soon: Short RIOT (up about 9500% TTM) and use the proceeds to go long UAMA (up about not much if anything TTM).
The logic is I believe RIOT is overpriced, UAMA underpriced, and I'd be hedging (pair trade) the position in crypt mining to reduce risk.
The advantage to this is shorting just 1000 shares of RIOT gives $50K to buy UAMA, which is a lot for a tiny float like UAMA.
Be clear I'm not recommending this trade for anybody, just looking for feedback from fromtheuk.
In 11 days filings will be current & posted, and the CEO bought over a million shares of stock in the market earlier this quarter.
How could they not be mining right now? If they are I'm calling for a $.30 stock by summer, if BTC prices hold or progress from here, which they should. They need to get off of the stinky pinkies.
We have a low float, high margin rocket here. Love the price action
RIOT $4B mkt cap on less than $10M in sales prior 12 months, with less than respectable margins. Hmm, could this stock be overvalued?
Best 2 bids total 247K shares at or above 5.1 cents. Best 2 asks total 25K shares at or above $.0697. So roughly ten times the buying size vs. selling size at the best 2 bids/asks.
Still feels like there aren't many shares for sale, and on no news... Significant change in price action lately. Something could be in the works for real after a long period of nothingness or what I call a "stock coma"
Price Action has improved a lot in the past couple months. I believe the best bid was in the 2-3 cent range to start the year, now it's 6 cents, and nobody wants to sell to it. Feels like there aren't many shares available to buy at low prices anymore. Something must be developing in the company, or it's just pure speculation.
Has UAMA started mining again? Can't think of another reason why CEO would buy over a million shares at 3.3 cents.
If UAMA is mining again we may see higher stock prices this year. The stock hit a high of $.345 in Jan 2018, but that was when Bitcoin was peaking at the $20,000 range. Many institutions are now calling for $100,000 Bitcoin by the end of this year (I think it will be before Oct). In 2018 there were no institutions in Bitcoin. Now it's an entirely different scenario.
Regardless, a lot of weak-handed shareholders have likely, and for good reasons, been washed out of this stock in the past 3 years. What remains are most likely very long-term shareholders. This plus a low float could add major boost to any real buying that comes in.
IMO people that advertise they have a million shares at 1 cent for sale, probably don't have them in the market, unrestricted, ready to sell, or else why wouldn't they sell them at 5, 6, 7, or 8 cents (the trades yesterday) instead of 1 cent, unless I'm missing something really obvious. I've seen that ad for umpteen months (or is it years?), meanwhile roughly 4 million shares have traded just in the past 4 months, all of them way above that advertised price. How many UAMA shares did the advertiser sell in the past 4 months, or 2 years? My guess is zero. If I'm wrong or out of place, I'll gladly apologize.
Finally, I miss your due diligence fromtheuk. Your posts are always appreciated.
UAMA hit 1.2 cents this morning. Probably not mining now, or it's one of the cheapest miner around. One or the other.
That poster a few years ago that predicted 2 cents on UAMA when it was it the mid-teens, was wrong. He didn't go low enough...hahaha, oh it's not funny
MARA, $6/share this morning (with about half the outstanding shares as UAMA), only has about $2M in annual revenue, and negative earnings by a long shot.
Hmmm, perhaps UAMA at 2 cents is undervalued, just based on market cap comparison, and what we last knew of UAMA's revenues & earnings.
AUMC is trading very strong, but low liquidity. With gold hitting multi-year highs, I believe AUMC could go north of $.50 soon. I've been adding to my position and it is getting harder to buy with size without driving the price up.
June was weakest volume since 2016. Not sure if this means nobody wants to sell or nobody wants to buy, or both. But UAMA is trading like a dead stock, IMO.
Decent upside volume last Friday, on no news.
Other possibilities: UAMA is still profitable, and is delaying filing due to Coronavirus and lockdowns, end of story (albeit not as dramatic as your version).
I'm encouraged by the fact that nobody with size wants to sell UAMA under 4.6 cents, and even then not much size. Meanwhile a large bid has come in, although only at 2.4 cents.
Anybody know when the stay at home regs are being lifted in Canada?
Several miners up nearly 50%-100% in the past month. Meanwhile UAMA continues to be a laggard, IMO. We're back to a 2 cent bid, with no size of significance, IMO. The broken chart has no sign of recovering, IMO.
Thanks fromtheuk!
UAMA on track in April for the weakest monthly volume since 2017. Nobody seems to want this stock, after huge selling broke the chart, IMO, as I mentioned many weeks ago. Nearly 2 million shares were dumped in Feb & March, as low as 2 cent range. And another 1.5 million or so last Nov & Dec.
Meanwhile block print guy claims 1 million shares are offered at 1 cent, which I don't believe, nor is there proof of such shares being free trading and available (unless Kyle has hooked himself up another advantageous deal), but it wouldn't surprise me either since the chart looks so ugly and bid size has almost evaporated.
If Kyle really has access to 1 cent shares, it would explain why 2 million shares hit the market at triple to quadruple that price, to the detriment of the rest of us. All in all, this stock has continued to be filled with intrigue, legal proceedings, questionable info from one or more posters, IMO, and horrible price action (down 71% in the past two years). Personally, I wouldn't pay 2 cents for any more shares.
Disgusted...
I actually kind of agree with you on this one. So many other better stocks to invest in right now.
Wouldn't UAMA have a right to keep your stock if you lose the lawsuit they have against you? Wasn't it something like $15 million plus legal costs that you could owe them? What else could you pay them with, besides that stock?
I don't have a legal-oriented mind, but just spit-balling here...
I totally agree about BSV, it's the only one that can handle super big block transactions, and scale is improving continually. I bought more BSV in the 120's recently, but got scarred yesterday amid what felt worse than 2008 to me. The VIX may have exceeded 2008, and the DOW lost nearly 3000 pts, the most by far ever.
Interesting points
UAMA chart is crushed, and nothing is on the horizon to change that, IMO. Relentless sellers have pushed this stock down about 90% from its Jan. 2018 high, and seem highly willing to dump at 3-4 cents continually. My guess is that 98% of shareholders are now underwater, including the insiders that bought 10 cent stock in the past.
Meanwhile millions of shares for equity financing have been issued in the past few years (yah I know for "good reasons"), so now we shareholders have: a diluted position much greater than the effect on Benoit's family trust (do the math), with probably millions more shares looking for a decent bid to exit from the larger shareholders, a 2 cent bid stock with less than $4K in Bids that want it even at that price, crypto markets down as much as 60% in 2 months, and oh, let's not forgot a virus that is changing how we live, move & breathe, probably for months.
As a footnote, the major indexes have gone through the fastest decline from a peak, EVER in the history of the financial markets, with volatility matching the 2008 melt down, with no end in sight either. Bear trap rallies keep failing. People are even liquidating gold to pay margin calls. I'm refuse selling UAMA at two cents, but I'll bet a ton more shares come in at the ASK 3-4 cents, for months on end.
I believe in Benoit's innovative & negotiating skills, but I've also seen how Calvin negotiates deals, so if he is really in bed with UAMA, then watch what happens to the stock structure. It will be decimating beyond belief, unless Benoit out negotiates him, IMO.
Price action tells me that a big shareholder is bailing out, so I don't find the fact that huge volume (close to a half million shares) traded in the 3 cent range this week encouraging at all. I wonder why anybody would. This stock chart is broken in my book.
Had the same MO as the seller end of 2019. The guy seems to have an endless supply, and has now sold probably over a million shares Dec + Mar. So much for a tiny float. It's not playing like that. 340,000 shares of buying on a tiny float, thinly traded stock should double the price, not hit against a steel wall of large block selling. Somebody knows something or somebody got super cheap stock, period, IMO.
Ya right, all that buying had no effect to move the stock up. In fact, it ended 10% lower. And my guess is the seller that dumped 340,000 shares, and has more to dump, will have the effect of death spiraling this stock. I've seen this movie before.
Cryptos, including BSV/USD down big again (low of $194 +/-). BSV may get to $160-$180, at which time it may reverse after consolidation. I'll be looking for a buy opportunity, charts willing.
Not sure what to make of UAMA this week. Last week nobody wanted to sell size. Not the case this week: A lot of shares stacked at the ASK at or below 5 cents, and nobody willing to BID more than $.0356 today, with lousy volume. Although there was some buying at the ASK earlier this week. My guess is the stock market meltdown is having a spillover effect on UAMA; people now needing cash from what were much bigger portfolios a few weeks ago (recall that the market was at all-time highs 2.5 weeks ago). Story stocks have been hit hard.
What is your purpose in reposting the same stuff over & over. You must not have private messaging, because you failed to reply to 3 messages this week. How is one supposed to contact you?
Cool. UAMA is the only sponsor without a website link in the article. Wonder if that can be remedied.
<50k shares ASK showing below $.075, which is still my breakout level on UAMA chart, if we get above avg. volume.