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Officially it goes to court in June and I guess could run for a few months. I doubt that will happen ( but it could )
Ira is not a wealthy man, he is been backed by someone who hates Craig enough to want to throw money at it.
The current Short is very similar, it’s driven by hate not investment intelligence.
Could these be the same person?
What happens to Iras funding if this guy is Bankraupt
If Craig steps in to stop a ridiculous pump on BSV, could his withdrawal be part of the deal ?
Also Iras legal team is tearing itself apart, taking each other to court. Nothing to do with the case, but he may need a new team very soon.
Craig’s Ex wife is now taking Ira to court over the illegal destruction of company documents ( he could end up in Jail ). Until now he was on a win win. Fees paid and little to lose. This is no longer true.
Any of the following
The reason behind the current run ( institutional buying )
Ira vs Craig Resolution ( could be sooner than you think )
BSV transaction explosion ( by end of year )
Financials showing mining revs and BSV on hand.
BSV getting to $1000+ ( end of manipulation )
New miners online 400PH ( end of year )
Various PRs / future development
Even prior to the BSV spike I think fair value is $30 -$40 per share, probably now higher. This is based on valuations of others miners and comparing the Ph ( we are 280PH today )
To me the 2 biggest drivers are this Short which will hopefully soon be over and the Ira v Craig thing. I know neither directly relate to TAAL, but it will fix BSV, and that is important.
Buy back the BSV privately for an agreed fixed fee ( well above market ) ... at least double.
If he is liquidated, and there is 90k+ bought on the market, the price of BSV will go a lot higher than $1000. ( maybe even as high as $5k - $10k costing the short / exchange up-to a billion. When it’s over the price will crash back down.
People will remember the crash, and like GameStop think of BSV as a speculative ticker run by scammers. Let’s face it, that would be true of a lot of Crypto.
The goal should be to remove the short without reputational damage. I have no problem with BSV trading at $1000+, but it has to be stable.
With the short gone we should reach our true value without been manipulated by a single individual motivated by hate.
I should also add that if TAAL truly believes BSV should be trading for several thousand, then selling out to help a scummy short would not be a good deal.
Currently the cost of his position is $40 million. If he is liquidated it could be 20x that. Money he probably dosnt have. Then the exchange will be culpable. If that falls I don’t know what happens.
It’s best for us all if this is dealt with professionally.
You are right, and I promise I know nothing . All I share is opinion
However, read my phases ( currently 1). If we kill the short we end at phase 5, any nobody wins
Less than 93k, it will need Craig / Calvin if he wants a deal. Also Taal won’t want to lose 100%
I will speak more on this over the Weekend, but to be clear. I want a deal, not chaos
Watch for the weekend, it should be lowish volume on both sides. If shorter has any sense he knows the game is up. He is going to be down 200-300 million or down a billion, the choice is theirs.
If he doesn't have 300 million, the exchange we negotiate.
As many coins as TAAL has, I don’t think they have 93k, they need to go to Craig as well... and pay
Let’s see how it pans out.
How real is this ?
Is this a full on investigation by the SEC, or just disgruntled share holders ?
I have no doubt Conway deserves Jail, but is this it ?
Temp standstill. No attempt by shorty to pull it down, and for now buying paused. Is the negotiation or just a breather?
Short now 4K BSV in the hole today
10k BSV this week
In which time BSV has doubled. Desperate times for him.
I thought $350 - $400 but was wrong. I guess it depends who is behind it.
I assume it’s one of the BTC Core guys. Some think it could be MasterCard / Visa, but I doubt that ( would be hilarious if it was ) can you imagine the filings, sorry shareholders we lost a billion shorting BSV to protect our business model.
Yup.. and the short squeeze hasn’t started yet
Still Phase 1
This is Fun ...
Well Craig gave them $ 7 million worth when they were about $180
They will be $1000+ very soon.
35 mill in the bank + the 40 from the offering + the mined coins...
I recon cash equiv could be $150+ million in days
Entire MC is only $125mil
This ticker will explode
I think the exchange is BitFinEX. If you have coins there be careful.
They are going to lose a lot of cash
Blasted past $400, and Short just keeps digging over 3000 BSV just today, and climbing at an alarming rate
He must be terrified. At what point is his margin called.
If the run on BSV can continue today, we should hit $400, and the shorter will be another 1k-2k in the hole.
At that level a liquidation would could cost him over $300 Million as the price is chased upwards. Assuming he didn’t have it, the exchange could also be liable (BitFinEx i think). This exchange already mired in past scandals and near bankruptcy.
As a comparison the entire short on BTC is 2000. It is now over 90,000 on BSV.
Another 1000 BSV shorted in the last day in an attempt to stop the run ( it won’t ). He keeps digging, and obviously hasn’t given up yet. If the BSV price keeps going up, when he eventually has to cover, it could cost him a fortune.
TAAL is going to be so cash rich after this.
Follow the shorter here... assumed to be mostly a single person / institution.
https://www.tradingview.com/symbols/BSVUSDSHORTS/
If it’s an institution ( say an exchange like Kraken ), even their pockets are not infinite. They will break eventually. Suppressing the price of BSV was simply a poor business decision. Steeped in personal hatred. Now they pay.
The current BSV short needs over $32 million to cover at the current price. Of course the price will rise expotentially as the buying starts. In reality a forced liquidation would cost him hundreds of millions, and take BSV to well over $1000.
And what point does this start. My guess is around $400. Which is now not far off. Once it starts the price will move quickly.
Still in Phase 1... Phase 2 starts soon.
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 3.545 Billion
Since Dilution was claimed to have stopped in December, another 1.2 Billion shares added to the OS..
New OS 3,545,772,882
Over 300 million added, good to know the dilution has stopped.... lol
Something else to watch.
https://coingeek.com/tulip-trust-files-lawsuit-against-ira-kleiman-over-billions-bitcoin-fortune/
This does not relate to Craig’s Coins, but the ones Ira lost by wiping his brothers hard drives.
This makes perfect sense, I am sure they know what’s going on in BSV.
Not only do they have what they mined, they also have the coins given as a loan by Craig
If the shorter can be liquidated, then BSV will start trading near its real value. BSV has been manipulated down for too long. I think at around $400 he is going to be in a really big hole. When he is forced to cover the price will quickly rise, making the hole bigger and bigger.
His alternative would be to approach TAAL with a private offer ( well above current value ) to buy bulk.
TAAL already has a lot of cash, this could make us all very wealthy.
You can track the short seller here
https://www.tradingview.com/symbols/BSVUSDSHORTS/
Looking at others opinions, general belief is almost the entire 89,000 coins shorted is by a single individual.
Finally found out what the real short interest is on BSV
Just over 89,000 coins shorted, which dosnt sound like a lot, but is actually massive. When settled could easily shoot BSV north of $1000.
5000 coins shorted trying to keep this latest run down.
As a comparison BTC has 1655 coins shorted.
I assume they are mining... Did they give any indication of how many they had ?
I know Craig gave them a load in the form of a loan, where they cashed out ?
That I can’t show.
I can show mining costs, but not who owns what.
I also don’t really know what the short interest is.
It’s guessing. But also understanding.
Yes, I have charts for that. And yes profit was there at $180
Obviously as more miners come onboard the difficulty goes up. But it lags. We are now selling coins at near 60% Additional profit
Bump .. still 1
Reading today that this bank is no longer the bad boy of Europe.
Don't believe it, although I do like the current CEO. He was dealt the very worst hand, and still in the game. Post Covid will be new challenges..
Getting closer,
Do not hold coins in the exchanges.
Next couple of weeks will be fun.
Keep your coins safe.
Decent attempt by the shorts to keep the price down, and try to invoke a reversal. Very high volume ( for BSV )
Longs buying into it. This could be the final one... when the Shorts give up the price should get to $350+ very quickly. At this point the Shorts should start covering some from back to when BSV was under $100....
Next few days should be fun.
Spike in liquidations when BSV hit $300. Whole bunch of Short positions closed. Then a few longs after that as it pulled back.
Over $5 million in total. About 5x higher than the last few days.
This is not yet the beginning of the short squeeze, I suspect more Stops been called set near the $300 mark.
Mixed mind on the delisting. In one part I don’t really want BSV traded on Scammy Exchanges. Regulation is coming, and a lot will be hit hard.
On the other, it needs to trade.
I think of it partially like comparing to say E*TRADE refusing to trade certain NASDAQ stocks because they don’t like the CEO.
It just shows how unprofessional these exchanges are.
BSV.. was over $300.
As TAAL mines BSV, it’s important
Over 300 now..
Still phase 1
https://www.tradingview.com/symbols/BSVUSD/
Pop the chart on 3 months.. the trend is clear
$40 close. It’s been many years. The future is Bright, Go BAC
Ok, let’s pretend that’s true.
My point is every sale is a negative on the bottom line ( for 9 months )
Remember, this is what excellence looks like....
http://www.robhillman.com/
Even if they sold / Delivered, it would still be a negative on the bottom line for at least a year. Their so called business plan delivers the units in return for monthly payments. These do not cover the initial outlay.
Found this site which covers the liquidations on all the major coins. BSV just $1 million in the last day. You can also see long accumulation in the down swings, this is still very much in phase 1, and could remain so for a few days yet. I would expect liquidation to spike as short seller panic sets in.
https://www.bybt.com/LiquidationData