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Wow, that's premarket. If Euphoria hits like last week, it could go as high as $2400 today.
GBTC should open between $1860-2015, given the normal ratio of GBTC to BTC in its trading range. If BTC hits $16,000 before opening, then GBTC should open at $1920-2080.
If GBTC opens at $1700-1750, it will be way too low of a price. It would be at 11% the price of bitcoin. It never trades that low.
Right now, the closing price of GBTC stands at 10.7% the price of Bitcoin. Whomever bought yesterday, congrats.
ETH holders are trading for BTC. The ETH/BTC ratio is the lowest in history (0.031). The buying is fueling the rise of the bitcoin price.
What alot of GBTC traders understand was that the high premium on GBTC is dependent on the rapid rise of the price of BTC. Whatever price it was in the past (600, 770, 860, 1310, etc), BTCs rise would catch up.
2 days ago, the premium was reduced. I saw it trading much higher then than it should have been.
But now, with a $14,000 BTC price, GBTC closed at 11.9% of the price of bitcoin. This is too low of a figure. Normally it trades 12.5% to 14% of the BTC price. So if you bought at the end of the day and BTC stays the same or increases overnight, expect a huge gap up on GBTC in the morning. At least $80-$100.
Expect higher prices and more volatility for both BTC and GBTC.
@floridany: Exactly (8). The company is promoting two brand air purifiers: H-D brand and Southpole Air.
Where are they being promoted? Search either in Baidu. It's BAIDU. It should show up! I see nada. Nil. Squat. Gats.
You said you were at the company. Did you see these Air Purifiers? Were they loading them on trucks? Did you discuss Alibaba with them? Where are they being PROMOTED TO?
Help me here.....
Qué? (What)? Not in production? They are not a kickstarter. With 8-10 chinese board members, they mention diversified products they make. They have photos of the office, the products, etc. The photos on the site are most likely their top selling products, and it has to be somewhere on the planet for sale, no? But it is not listed on the most popular sites for selling any retail item in China (TaoBao, Alibaba, Suning, Baidu). Qué? (What)?
I like the story....But right now it is a story. If those air filters were on those sites, I would have bought in with both feet. Not being on those sites suggests something is amiss.
@Apollyonf - you are saying that BITCF officer Yuri Abramov is the same person as Jack Abramoff? Jack Abramoff, the famous lobbyist? The guy who was in the inner circle of the George Bush administration? They guy who had massive influence over the US Senate and the House?
BITCF did do the ICO for WEED, but you are the first person on earth to actually smoke a virtual currency token. Congrats! Can you tell us how you did that? I would very much like to try.
Where are the air purifiers H-D says they are selling?
On the H-Djt website, they list a bunch of air purifiers, the HD 360, HD 450 etc. That's most of their revenue. Why else show it on the main page?
So I went to Baidu (the chinese equivalent of Google) and entered the product names (english and Chinese). They didn't come up. It was definitely searching for them, because it showed me Fujistu products, etc.
OK....really strange, the biggest search engine doesn't know about these air purifiers. So I did a search again on suning (a big retail store in China.
Look at the results: Nothing again for HD. None of the images of any of the air purifiers had the HD logo at the top.
Its not in Alibaba...Its not in Taobao (ebay for China - see for yourself here ). I don't even see a white label product that matches their images.
Help me out here. Where can I see these products for sale? If they are not on the major sites in China (the most competitive marketplace on the planet), how on earth do they sell?
@Janice - you probably know people at OTCMarkets as well, I imagine on a first name basis. Did they tell you anything? After all, you are highly interested in the status of BITCF, as the rest of us.
@Janice - I am connected on linkedin with several VPs at OTC Markets.
Here again are the 6 reasons for the Caveat Emptor for BITCF. One or more apply: https://www.otcmarkets.com/stock/BITCF/quote
Based on your suggested posts, let's do the process of elimination :
-(X) Promotion/Spam without Adequate Current Information — Highly doubt it
-(*) Investigation of Fraud or Other Criminal Activities — oh my.....If the SEC called OTCMarkets and said they were investigating would this apply? Ummm, yeah.
-(X) Suspension/Halt — Nope - you can still trade.
-(X) Undisclosed Corporate Actions — Unlikely, BITCF would have mentioned that in today's press release.
-(X) Unsolicited Quotes — unlikely.
-(?) Other Public Interest Concern — The stock rose over 50% each day for 5 days straight and OTCMarkets decided to put the brakes on....just because they felt like it? Really?
BITCF did 3 ICOs. You are saying SEC has jurisdiction over the company, and the coins as well. The tokens/coins are now securities under SEC rules. So the investigation, as you suggest, goes to the coins themselves. What, in the way they are structured, violates the new guidelines?
@Janice - Interesting. I am sure the Rubin bros. expected SEC scrutiny. You seem to surmise that the CE is a result of an SEC investigation. Go ahead, let them take a look under the hood. If the CE ends up coming off, that would suggest the investigation had completed...and probably found nothing.
As for the TA Issue, it was clear from the press release they want to make sure there are no blemishes at this stage. That every 'i' is dotted and every 't' is crossed.
It doesn't appear they are running or intend to run fast and loose. Those type of companies would and should be a target for the SEC.
Why would the company being from Canada be a problem? The "F" in the ticker symbol means 'foreign'; they are not hiding the fact they are not US based. There are plenty of non-USA stocks. BABA, QSND, RIMM, etc. And plenty in Canada.
The Rubin's travel to the US often (particularly Los Angeles); so they are not running from the law. The SEC can also easily call the Royal Canadian Mounted Police and in seconds they would be at the company's doorstep. BITCF is not hiding.
But you did tout specifically the SEC guidelines document on ICOs a few times on this board. You suggested BITCF was violating one or more of those guidelines. Which ones?
@Janice, huh? You are basing this on how the SEC went after marijuana companies in 2014?
There are more cannabis public stocks since 2014, way more. And some of them are laughable, but trading fine. (CNBX claims to have 'cured cancer' with no FDA submission at all, and of course, no revenue).
You were touting the SEC rules from July 25, but would not elaborate as to which one or one(s) applied to BITCF and why.....
And you are basing it on 2 Crypto stocks stopped? I admit STVB's press release last month earned their place in the annals of history, but BITCF's transgressions are currently minor at best.
They are in Vancouver, the West Coast. I figured they didn't get the whole East Coast conservative mentality, where most of the SEC is based. The WEED ICO would get attention to BITCF for sure. It was controversial and a ballsy move. I did expect them to expect scrutiny on it, and dot their i's and cross their t's.
What do you suggest they did wrong?
The transfer agent issue is a joke. How many years have they worked with him. All was fine until 2 days ago. And only now its an issue. Pullleaassse.
@Janice - The transfer agent choice was most likely based on price. He was probably the cheapest. He was licensed. I am sure at the time they signed him they would not have looked beyond that.
Today's press release shows they want to make sure they are doing everything correctly. They are removing blemishes. It appears their earnings report the line item of "Digital Cash" under revenues also seems to be in line with current rules. You seem to still believe otherwise.
Ignoring history for a moment, what else do you see that would lead to BITCF getting into more trouble?
Please don't simply reply with the SEC link showing their position on ICOs. (That would be like google saying you are violating one of their terms and conditions and sending their 500 page document on the T&C).
Yes - reported yesterday, but the question to the transfer agent was "In the last 10 years have you" ...."fraud", etc.
It was not "Is this current transfer deal ... fraud", which is what you suggested.
@Anty - Re: Transfer Agency. You forgot to add the sentence just before that:
"In the past ten years has the applicant or a control affiliate been convicted of or plead guilty or nolo contender (`no contest`) to:"
This applies to the transfer agent and not BITCF.
Not counting the -70c drop at the opening. 10% of the float in share volume this morning in selling dropped the stock and additional -70c (-35%). Good gauge for the future. We know what to expect.
Bid/Ask is 2.50/2.30 right now. 20c spread..that's not normal. The board may be right, not a crash but a dip, possibly followed by a bounce up.
I did look at some OTCMarket stocks that are Caveat or worse.
Study this image and think about my comments below:
Link if you can't see it: https://ibb.co/ghxCHF
BITCF is listed as "Limited Information" - that suggests the problem may be similar to 3 months ago; OTC asked questions or doesn't have answers to certain questions.
However, some of the other stocks are clearly in far worse shape. "Grey market" for HSHS for example, or "STOP" or "SUSPENDED" (the non-bitcoin stocks I showed above are recently actively posted on by some of the shorters on the BITCF board).
If you look up what some of the other warnings mean, they are far worse than BITCF's current warning.
The worst case is a result of an SEC investigation, then that may be "Honey, I shrunk the kids."
If this is a questionnaire with another 30 day waiting period, then another opportunity may have just arrived on the dip.
Scrutiny was inevitable. 50%+ gains each day for 5 days in a row had to get attention of regulators, and others. If the brothers at BITCF were smart, they dotted their i's and crossed their t's. They had to learn that 3 months ago.
I'm encouraged by the optimism on this board over the new Caveat. Most of those that are trading it are already using broker firms that allow it.
Monsta, tell me you didn't short this stock at the end of the day.....with earnings not released yet and BTC on its way to $5K?
Look at the pattern. Every day for the last 5 days the stock would close just short of its peak for the day, then gap upwards in the morning.
Its after 4 PM. You can't get a fedex in time, but I really recommend visiting the local Walmart or Target. Walgreens and CVS don't carry enough vaseline that you will need tomorrow morning.
Same as this morning, no talk will make this go down for the near term, so just keep putting on the vaz.
1) Call Ameritrade and ask for Rich Roberts, VICE PRESIDENT of the ORDER ROOM at TD AMERITRADE. Let him know you can't buy it. If he get's enough complaints, they will reconsider.
There is no reason why Ameritrade should block this. The Caveat Emptor was lifted in early May. It was a clerical error that caused it.
2) You can sign up at Scott Trade and be trading the next day. I physically went to one of their storefronts to create an account with bank check.
10 Million in Volume brings a 70% increase, 2 days in a row. That's 20% of the float.
15-20 million in volume would make this stock rise in parabolic form. There are 2 factors making that happen: price of the shares and popularity.
The popularity is already there.
The price of the shares are rising, but not enough to retard the volume (sorry shorters, keep on applying that vaseline).
Its a runaway train, as the longs saw would happen in May. We didn't expect Bitcoin's price surge at the same time. Bonus upon all bonuses.
Depending on how the next 48 hours go, especially if Bitcoin hits $5,000, the popularity of BITCF may exceed the price restrictions. $5 to $10 a share is a realistic possibility this week.
30-50%+ of trading of the float would make the last 5 days look like kids play.
19MM and a tight spread (0.01) - which shows an honest market. Something rare for a Pink Sheet stock. BITCF board members may want to seriously consider a NASDAQ listing in the next 30 days.
Basing BITCF's numbers on current financials is a mistake. I am sitting trying to figure out a fair value for 15x EPS on next years earnings with 330 m shares outstanding.
Simply put, if they made $330M profit in 2018, that would place them at $1/share earnings. A 15x multiple places the stock at $15.
I don't think that 2018 earnings of $1/share is realistic. They won't make that much money. But the stock price may trade above that price for other reasons.
If they only made $3.3M next year, then that would make them $0.01/share in earnings. A 15x multiple places the stock at $0.15.
I think that is far too low of an estimation.
At the same time, there are stocks trading at hundreds of times their next year's projected earnings. AMZN is a classic example, trading at 247 times earnings.
Last week's stock price at $1-2 is clearly justified in the near term. The speculation is how much can be made on ICOs, because it is the same as printing money. And what exactly are they making on BITCOIN itself, because that has a value as well.
BITCF is going up based on (A) the rapid rise of Bitcoin, which I see no signs of abatement at all, and (B) speculation on earnings from current and future ICOs. That market does go up and down. But right now it is in full throttle up mode.
Recommended for the Shorts: Vaseline
Looks like shorters have lined up to do their standard routine I've seen on my any other stock boards; talk down the stock. If you have a short position, you will get your ass handed to you this morning. No talk at this time can affect the stocks short term rise.
Hippo, it is so rare to be in a situation like this: a runaway stock that is also in a runaway market. Its one thing if it was the stock itself, then you would sell on earnings....but the run-up of BTC tself changes the dynamics. I honestly don't know what to do. I think the volume will drive my decision. Like I said in my earlier post, $5-10 is not out of this ballpark...it actually seems realistic.
Bitcf is not a 1 man show. To my knowledge is is small, like 3 or 4 active employees, but not one person. They obviously also outsource as well for development.
In early May, it was obvious that this stock could not remain at these low levels once positive financial results came out. No debt and 3 icos under their belt, with q3 expected to have significant profits, for the near term this is one of the best plays in the space.
NOOBS: This is for you, as I see alot of you on the board and I imagine there will be alot more after today's rise.
The longs on this board did their due diligence with BITCF. A few months back, BITCF did an ICO ("initial coin offering"). The company explained that the proceeds from the ICO would PAY OFF ALL DEBT on the company and that would be shown in Q2 earnings (to be reported on Aug 15, 2017). So if you look at the chart, you will see in March/April it went from $0.10 to $0.80.
Then you will see it crashed down to $0.20. Why? OTC Markets issued a caveat emptor on the stock. The Caveat emptor (known as skull and crossbones) was due to nothing other than a clerical error. Their paperwork was not in order. That is the reason why it went down and Ameritrade and others blocked some of you from trading it. The caveat stayed for a month, as required by OTC. It was released in early May.
Today, there should really be no reason for any firm to restrict you from trading BITCF. The caveat is gone, and it was all from paperwork not being filed correctly. Scott Trade and some others currently allow trading.
Since then the company has done 2 more ICOs and profits are expected to be large. However that will show up in Q3 earnings (Oct 15).
If you look at Q1 financials, it shows a small $7K profit, and showed they are not sucking the company dry of ridiculous SGA expenses (the way other penny stocks do).
By May, the longs knew the days of this being a penny stock were limited, and Q2 earnings would probably launch it in to the dollar ranges. Combine that with a spike in Bitcoin prices this week gave it more investment attention.
That is why the stock rose 300% in the last 5 days.
Last week, BITCF also announced an innovation; those that owned their stock would also get as a dividend some of the company's ALT Coins that were ICO'd. This was never done before for a public company.
As for other bitcoin related stocks out there, there is lack of other good Bitcoin related plays:
MGTI is a complete ripoff (They LOSE between -$6M to -$10M a quarter).
HSHS and BTCS are non-reporting, out of business or scams.
GBTC is way overpriced compared to the current price of bitcoin (google it).
BITCF comes as a logical best choice. They are profitable, have no debt, are innovative and have the best upside so far. Once word gets out this is the best bet in the space, everyone will want in.
Friday had 10 million shares trading (20% of the float). It rose the stock by 70% at one point.
Bitcoin exceeding $4000 this weekend means that we can expect 10-30 million shares trading in the next 48 to 72 hours.
And I thought Monday was just going to be good. Bitcoin blowing past $4,000 completely changes everything now. Anyone shorting BITCF on Monday morning or were left in a short position Friday night is going to get their ass handed to them in the worst way. I was originally expecting it to open at $2. Its anyone's guess now what the opening will be, but it's going to be way higher. I honestly think we have a $5 to $10 stock during next week.
Going back to one of my earlier posts, it's all about the fundamentals. Some of you like SING. I know they deal with the company, but their fundamentals are not as attractive. They have three quarters of a billion shares outstanding. A 97 million share volume in trading (Friday) barely moves the stock. They've also had four consecutive quarters of some significant losses, although the losses are less and less each quarter.
I mentioned in one of my earlier posts also about the others in the space, like MGTI which is a complete rip-off. They lose $6-11 million dollars each quarter.
Friday had 10 million BITCF shares traded in volume. That's 20% of the float. And it moved the stock up 50%. Actually it moved it up 70%.
The fact that bitcf moved out of the penny range into the dollar range means this is going to get a lot more attention. Monday's financials are expected to show no debt and expected minimal profit. This will show the company is on track to be worth its value as a stock.
But Bitcoin exploding in the last week and especially over this weekend is a bonus beyond bonus. All the company needs to do is stay on course and they can't miss.
So think what 20, 30, or 40 million shares of volume will do to this. This may be a very realistic possibility for Monday. Because BITCF will be seen as one of the best plays in the space. And when word on that gets out, everybody will want in.
"Every dog has his day." Monday and Tuesday Will most likely be our day for BITCF longs.
NOOBS: This is for you, as I see alot of you on the board and I imagine there will be alot more after today's rise.
The longs on this board did their due diligence with BITCF. A few months back, BITCF did an ICO ("initial coin offering"). The company explained that the proceeds from the ICO would PAY OFF ALL DEBT on the company and that would be shown in Q2 earnings (to be reported on Aug 15, 2017). So if you look at the chart, you will see in March/April it went from $0.10 to $0.80.
Then you will see it crashed down to $0.20. Why? OTC Markets issued a caveat emptor on the stock. The Caveat emptor (known as skull and crossbones) was due to nothing other than a clerical error. Their paperwork was not in order. That is the reason why it went down and Ameritrade and others blocked some of you from trading it. The caveat stayed for a month, as required by OTC. It was released in early May.
Today, there should really be no reason for any firm to restrict you from trading BITCF. The caveat is gone, and it was all from paperwork not being filed correctly. Scott Trade and some others currently allow trading.
Since then the company has done 2 more ICOs and profits are expected to be large. However that will show up in Q3 earnings (Oct 15).
If you look at Q1 financials, it shows a small $7K profit, and showed they are not sucking the company dry of ridiculous SGA expenses (the way other penny stocks do).
By May, the longs knew the days of this being a penny stock were limited, and Q2 earnings would probably launch it in to the dollar ranges. Combine that with a spike in Bitcoin prices this week gave it more investment attention.
That is why the stock rose 300% in the last 5 days.
Last week, BITCF also announced an innovation; those that owned their stock would also get as a dividend some of the company's ALT Coins that were ICO'd. This was never done before for a public company.
As for other bitcoin related stocks out there, there is lack of other good Bitcoin related plays:
MGTI is a complete ripoff (They LOSE between -$6M to -$10M a quarter).
HSHS and BTCS are non-reporting, out of business or scams.
GBTC is way overpriced compared to the current price of bitcoin (google it).
BITCF comes as a logical best choice. They are profitable, have no debt, are innovative and have the best upside so far.
End of the day at 0.94 is solid. Its not far from the day's high. Highest volume on record for the stock. I expect tomorrow to stay roughly level or rise slightly. Now, its wait to Monday.
If the company had a killer press release up its sleeve, tomorrow is the time to do it, the day before earnings. Then we would end up 5 days in a row of gains.
When you rise 50% consecutively for 2 days straight, you get the attention. Combine that it is bitcoin, a hot topic, and you get more attention. We've seen nothing. Once next weeks numbers come out, we are on another plateau.
BITCF News story @ Insider Financial
Bid/Ask dropping a bit. Expected as the runup was a bit too fast over the last 48 hours. My suspicion is this is only for the mid-day as volume usually lightens at that time. At the end of the day we will probably see a strong push upwards.
Congrats to the longs.
@gapole - This was not "blind luck" - The longs on the board did their due diligence. Especially after the caveat a few months back. Read the history on this board. The longs knew Q2 financials (to reported on July 15) are expected to show NO DEBT, and that Q3 expects large profits due to the 2 ICO sales. Q1 showed a small profit, and showed they are not sucking the company dry of ridiculous SGA expenses (the way other penny stocks do).
The longs knew the days of this being a penny stock were limited, and Q2 earnings would probably launch it in to the dollar ranges. Combine that with a spike in Bitcoin prices to get it investment attention.
Add to this the lack of other good Bitcoin related investments on the stock market:
MGTI is a complete ripoff (They LOSE between -$6M to -$10M a quarter).
HSHS and BTCS are non-reporting, out of business or scams.
GBTC is way overpriced compared to the current price of bitcoin (google it).
BITCF became a logical best choice.
Obviously. We are 14c from the peak.
3 Million shares today. 1/2 million in the last half hour. With a 44% gain for the day, it will end up being listed as one of the big movers on a percentage basis....on NO news...just earnings expectations. That will certainly get it attention in the morning tomorrow. Which means...another spike. Anyone who shorted this stock will get a big, big headache in the morning.
I don't think you will see 0.40 again now. Its a repeat breakout since March 2017. In March, I was hoping for a dip to get in. The clerical error that resulted in the caveat was the opportunity. After looking at the fundamentals, I jumped on it. If the caveat didn't happen, this stock would have been well into the dollar ranges and remained there. Its going that direction now, with stronger momentum behind it now. ALT coin currency price / revenue / no debt / little to no chance of a caveat now / SEC issued their position on alt coins. I can go on. To short this stock now is about the dumbest thing anyone can do.
Look at the last 6 month history for BITCF. When volume breaks 1 million, the stock goes up. When it breaks 2 million, the stock rises by a significant amount and generally stays there (with the exception of when it hit $0.80; the caveat stopped a total breakout at the time).
Yesterday was 1.25 million shares traded and a 3-4c rise.
Today is over 2 million with a 15c rise.
And this is before earnings are reported. We know for a fact that they will report no debt. That alone is huge.
Most penny stocks exhaust the company with exhorbinant SGA expenses (PSID is a classic example of a total scam).
The Q1 earnings report for BITCF shows they generally don't do that. While the profit was minimal ($7000), it shows they are about raising value for the shareholders. They view the wealth generation is in the stock price itself. A highly smart move.
As long as they are ethical and business savvy, we may see a strong winning for the next 7-10 days ahead.
I like the pattern. Volume is not small, but not in the millions. Slow and steady growth. Spread is tight. And we are 1 week before earnings. (Last year's earnings were reported on the 15th). We know they have no debt now. The announcement 2 of the ICO proceeds means Q3's earnings will also be good.
Meanwhile, Bitcoin is back on a tear, rising, bringing more attention to stocks that deal with bitcoin.
Regardless of the size of the pop when earnings are reported, it will be on a new plateau for October.
I also like the resiliency of the stock. 4 months ago it was $0.80, then it crashed down because of a clerical error, but rose back up. The earnings, which we have been waiting for should give this stock serious merit.