I must apologize - in my last post, I gave bad info while comparing BTSC to SANP. It appears SANP is much more diluted than the 422 million shares eTrade reported.. more like 7.35 billion SANP shares have been issued.
So, their planned 20x advantage (rel. BTSC) in mining capacity, is offset (on a per share basis) by their 20x more share dilution. So, a $0.0002 share of SANP represents the same mining capacity as a $0.38 share of BTSC. (each BTSC share claims 152 kH/s, each SANP will claim 179.6 kH/s (once their 100 S9's are installed, assuming no further dilution (not likely..)). That's kilohashes per second, where a billion kilohashes equals one terahash, and one S9 delivers 13 terahashes per second... and each MGTI share represents 1.38 gigahashes/second.)
In other words, here's about how many, at what total price, of each company's shares that you would have to buy to own the equivalent mining capacity of one $5,000 Antminer S9:
BTSC - 87 million shares, $33,000,000;
SANP - 74 million shares, $14,700;
MGTI - 9,600 shares, $37,100
Can you see just how far from anything like "reality" this BTSC closing price is? But, don't take my word for it.. PLEASE prove me wrong, crunch the numbers for yourself! (a few of my numbers are deliberately "off" by up to 10%.. can you find them, correct my errors? Maybe then you'll see how far from reality this BTSC closing price is... The SANP share number mistake wasn't deliberate, and was large enough to require this correction. Sorry for that)
This BTSC run is a bubble, balanced on the sharp end of a pin. The only reason it hasn't burst yet, is that it hasn't burst yet (sort of like how Paris Hilton is "famous for being famous"). People are buying because the charts say "other people are buying, so you should buy". Charts, MACD oscillators etc., do NOT calculate whether a company can ever be profitable, they don't "see" the cliff - they ONLY measure which way, and how fast the herd HAS BEEN running.
Moderators: I'm not promoting other companies here - I just think it's really important to "pull the curtain aside" and expose the total lack of substance in BTSC - and I can't think of any way to do that without comparing BTSC to other companies.
(DISCLOSURE: Right now, I own zero shares of MGTI or SANP, 10 shares of BTSC, and 5 shares of BTCS. I plan to buy MGTI and SANP. If people make investment decisions based on my comments here, that will lower the value of my $3.75 (before commission) BTSC position while potentially raising my price to take positions in MGTI and SANP. I'm not writing for personal gain, I'm writing because my conscience compels me to write.)
