Are you sure that the ask price went down to that? Freetrade and Google will be showing the last price paid (regardless of whether a buy or sell) so what youve seen go through could be sells (which you can’t buy at).
Aah ok, that may explain it. I’ve had Google Finance on the split screen and its up and down like a wh**e’s drawers around my buy prices. Didn’t realise they showed only the sell. I’m only a month in to doing this and I’ve gone in quite heavy without knowing the finer points…fool and his money and all that!!
All part of the learning experience! Google prices can be stressful watching it bounce around but that’s just the bid and offer.
I use ADVFN to see latest prices being paid (clunky app) but I think others use investing.com to see this as well.
2 Likes
Yes me too, I gave up and cancelled because I saw a post saying people’s shares/money were left in limbo from a limit buy/sell 
Struggling today… perhaps some hesitation ahead of the shares issued this week being available to trade from tomorrow?
Out of interest, what does everyone think about the future of Argo Blockchain? As crypto mining is a fundamentally flawed long-term business plan. Proof of work is an inferior method of transaction verification, proof of stake or even proof of reputation are better. There’s a risk that Bitcoin (or Zcash) will transition more to PoS, like Ethereum is doing. Even just a hybrid PoS/PoW system would have a significant hit on the miners. As I assume Argo are using ASIC miners, any switch would make their current hardware obsolete, or offer a much lower yield for another cryptocurrency.
Alongside this, the block reward for Bitcoin will continue to reduce over time, causing a reliance on ever increasing prices and cheap electricity. Due to the cryptocurrency market having large cyclical moves, this will be accentuated. When there is a downturn in the crypto market, Argo will struggle. This could even happen later in the year, perhaps from September onwards (BTC specific metrics like NUPL/RUPL aren’t looking promising).
I’m not trying to be alarmist, as I’m sure Argo has more room to run. Just interested in what other people think.
Hi Jack, as you said well, Argo has more room to run and this doesn’t necessarily have to be a long-term investment. In particular, I believe bitcoin is gradually becoming a more stable currency as more institutions are sticking to it and mining companies like Argo should gain as the value of the cryptocurrency advances. Right now, BTC is almost back to $58k and is expected to surpass $60k soon.
As for the cost of energy, I think this will be a challenge solved by cheaping renewable energy. In this article you will find an interesting opinion about this.
It’s interesting to see how BTC is changing people’s lives, especially in still developing countries. That’s a very positive thing.
All worthy points and questions that do need to be taken into consideration I’d say.
The main thing I like about Argo is the way they’re diversifying into other crypto & blockchain plays (25% stake in Pluto Digital, plus newly raised cash on hand to take advantage of any notable opportunities that quickly arise) as opposed to going all in on BTC, while also thinking two or three steps ahead of the game in terms of their investment in future infrastructure, such as their priority supply deal with ePIC and the coming expansion into Texas with super low cost renewable energy.
In my opinion this early action could really push Argo ahead of much of the competition in the medium to long term and they seem willing to spin on a sixpence if the industry were to start heading in a different direction.
The CEO Peter Wall gives some great insight into all of this sort of stuff on the Argo YouTube channel if any investors or curious minds haven’t seen any of the videos already - well worth a regular look for their info and transparency.
With the block reward reducing over time there is a reliance on it being balanced out with a long-term increasing value for the BTC that’s being mined and held. Argo were still profitable when BTC was worth considerably less a few years ago and came through the severe downturn of 2018 into 2019 & the little dip in March/April of last year, so I think it’d take a hellish lengthy downturn in price to trouble them - though could certainly never be ruled out. I suspect this potential future threat is another reason they’re keen to hedge against it with investments into other areas of growing blockchain technology.
2 Likes
Seems to be doing well in the US today after our close. Up 9% so far.
2 Likes
Hope we follow the trend come Monday…will wait an see. 
Over 10% now, looking good!
I’ve got over 28,000 shares, wish I’d bought more today but this thing has miles to run 
4 Likes
Very nice! Got about 900 myself. I thought about adding more as I have complete confidence in ARB and what they are doing but I fear what could happen if BTC crashes so I don’t want to have too much in crypto.
U.K. closes can do US jumps 10%. 8am tomorrow miserable Brits manage (me included) to suck it back down again 
Come on the US! get us up that hill!
Any info anywhere on the zcash side of things?
Thanks for the link. Yes, if I was investing in Argo, I think swinging it would be the best idea as well, rather than investing long-term.
1 Like
Interesting, hadn’t heard about Pluto. If they can keep on diversifying, that’ll definitely help them stay relevant.
Don’t rub it in .
Thought I’d got in early when it was First added to FT. Can’t complain though.
Hopefully in a year i have a reasonable albeit not life changing return.
Is anyone invested in Pires?
I believe they are invested in Pluto Digital Assets which Argo has a 25% stake in.
1 Like
Bitcoin making good progress this weekend!
1 Like
I’ve got 40 lol
1 Like