Riot Blockchain - RIOT - Share Chat

$RIOT - https://www.riotblockchain.com/

Riot is an interesting NASDAQ-listed company with a bit of a chequered past but which now seems to be a pretty legitimate player in the bitcoin mining space. Back in 2017 they were a small biotech company who then pivoted to ‘blockchain’ and saw their share price rise and full in that frenzy.

But they now look like a pretty solid business, they generate money somewhat irrespective of whether bitcoin price is going up and down and if, like some (Billionaire hedge fund investor Paul Tudor Jones: Bitcoin is a 'great speculation' - YouTube) you think bitcoin may play a big part of the future global economy I think they’re an interesting one to watch. Would love to be able to hold a bit in my Freetrade ISA!

I agree on Riot Blockchain.

In my Trading212 portfolio my holding in them is up 304.66% whilst Argo is up 632.66% , the community really needs these sort of swings as early as possible by adding in good blockchains options as early as they can.

Yeh shame about this one, I held it elsewhere from $1.50 to now. Also bought Argo at under 6p :stuck_out_tongue_closed_eyes:

I think Argo is on FT now? But there’s a few more and everything suggests bitcoin/crypto is going to go on an absolute tear this year!

1 Like

Hooray, just seen this got added.

Thanks Freetrade.

Just the +1500% since I requested it :laughing:

7 Likes

I just saw it now on freetrade.io

Was looking into this last week but was unsure and doing more research. Now up almost 80% since the Elon / bitcoin thing. Hope a few of you were in before the rise.

I think it is in for a stunning year. But after BTC corrects at the end of the year, it will dump as mining becomes less profitable again.
It’s fortunes are directly tied to the price of BTC.

Exactly the reason i was hesitant on investing on a purely crypto mini business. But i guess the popular wave of crypto isn’t going away for a while so more of a get in and watch out for the pull back sort of investment

Crypto is going nowhere but there will be a crypto massacre first before it’s eventual rise back up and adoption worldwide. Tesla had an easy win after buying $1.5 billion of bitcoin that sent the price up, they could have exited after with a multi-million profit :rofl:

Eventually Argo Blockchain will list on Nasdaq and fingers crossed there will be a similar response…! :crossed_fingers:

2 Likes

i checked their balance sheet and I was glad I was invested in BTC and ETH. the last time blockchain companies popped was in 2017. i al 99% sure this time the pricess will remain “high” for crypto but these businesses are in a different biz.

i have been wrong many times :laughing: but I’d buy coin over these stonks

Absolutely took a battering today…will it recover ? Argo too a battering too ??

Can’t see it pal :tired_face: think the bubble has burst on it all

You must be new to bitcoin :rofl:

The price expands and contracts, and the miners do the same but amplified.

Bitcoin is up 50% in a month, it’ll be at $100k+ some time this year and possibly in the next couple of months.

You’re not here for short-term gains, we’re transitioning to a new financial system which will take some time

(All IMHO of course)

1 Like

Thank you. I’m very new to all of this to be honest, I will just hold my meagre few shares in Argo on your opinion an hope for the best. :joy::crossed_fingers:

I’m not sure the correction for RIOT was justified. There is a big year ahead for BTC and mining fees will be extraordinary. A small correction in BTC price is all just part of the long term trend up during this bull run. There are obviously a massive number of investors in RIOT that are new to the BTC game.

1 Like

That’s ridiculous. Crypto is all about short term gains in the growth & adoption faze. Serious crypto investors are buying large amounts through its winter and selling 90% of their holding during its peaks, leaving 10% to ride should any further exuberance temporarily take off. Then repeat the process through the next winter and if momentum builds more & more, the swings in volatility should decrease over long periods of time as general adoption takes place. Buying and holding is a terrible way to play crypto imo. You add soooo much extra risk by not taking profits on exuberance.

Unless I am missing a crucial point with Bitcoin as a kinda way for renegade companies to ‘stick it to the legacy financial system’ (which is probably what is happening), it’s hard to see how some of the brightest companies in the world would choose to buy Bitcoin & crypto at this particular moment in time, given the high exuberance. I find it so hard to see companies like Apple get fomo and make crypto purchases at the absolute peak.

Surely, unless I am missing the point where the S&P 500 companies decide they do not care about the buy in price, they just want to get in now, it’s hard to understand why they wouldn’t simply wait until crypto’s winter … and then buy?

I believe it would take only one paragraph of speech from Elon Musk or some other ‘in the know’ entity, to simply explain the solid decision to begin a position in crypto. I believe there is a ‘ah ha’ moment with the top crypto currencies, but you’d need explained such in-depth knowledge of the entire financial system to confidently make large purchases.

The guess work has to be eliminated, these large adopters have had the entire situation explained and they are making renegade plays.

I do not see Bitcoin going to $100K before it revisits $8K-$12K. UNLESS, like I said before, there is a reason that I am unaware of which would make large companies adopt now at these ridiculous levels of exuberance.

1 Like

RIOT has become a big holding in HAN-GINS Tech Megatrend Equal Weight UCITS ETF. 10% plus. usual for a EW ETF to see a stock become so large

Yes there’s a lot you’re missing, but I haven’t really got time to explain it, sorry.

I’d suggest going away and doing some reading on the topic though.

3 Likes

If you can’t see blockchain being the next innovation, like the internet or smart phones, then you really are missing something.
The whole of society will be on the blockchain at some point soon, (at least until the next innovation comes along).

Financial systems are already being replicated on blockchain, but with much lower cost structures and much more security. The old system requires so much trust in both individuals and institutions. As humans are inherently untrustworthy of course this has lead to a wealth of unlawful activity.

The inherent beauty of block chain technology is the fact that you don’t need to trust anyone. If it is on the blockchain then it can’t be faked. It’s also very traceable. The pure reduction in crime in society is enough to make blockchain technology inevitable.

It’s already been used for Voting, trading of shares such as FAANG stocks, trading of assets such as art, storage of data. It will be the underlying tech in ‘the internet of things’

It is so versatile, it will be a part of everything in the near future. We are at the beginning of a complete shift in society.

Where is BTC in this picture?
That’s easy. It is the underlying store of value that everything else will be measured against.
At some point we will stop looking at how the price of BTC changes relative to fiat currencies such as the USD or GBP. Instead we will be comparing how fiat currencies change relative to BTC.

2 Likes