What’s your big gamble? (Volume 3)
Discussion
Although I'm not invested in AMGO anymore as i went mining instead.... if I had money to spare i would be happy to put it back in following the vote by the creditors and Court ruling in the past few weeks.
With regards to the Court hearing on Wednesday to finally approve the scheme - as others have said - I think the last minute change of mind by the FCA is purely because they were criticised by the likes of Martin Lewis and the MPs and the Judge will not like them changing tactics having been given their opportunity to object in the first hearing.
Now saying nonsense like Amigo have not consulted with their customers over the amount of money to be refunded is a joke. This is not a trade union negotiating salaries for its employees. The Amigo offer was take it or leave it and 95% voted to take it.
It is clearly a tactic to try and get more money put in the pot and perhaps reduce the Directors share options rewards so I'm sure a compromise will be reached and it will go ahead as forcing Amigo into administration will get the customers nothing so then the FCA will look like morons.
The main reason for my post was to print this letter from the Financial Ombudsman to Amigo this week which is in support of the scheme and will be presented in Court. This should be the final nail in the coffin of the FCA objection.
https://www.financial-ombudsman.org.uk/files/30352...
With regards to the Court hearing on Wednesday to finally approve the scheme - as others have said - I think the last minute change of mind by the FCA is purely because they were criticised by the likes of Martin Lewis and the MPs and the Judge will not like them changing tactics having been given their opportunity to object in the first hearing.
Now saying nonsense like Amigo have not consulted with their customers over the amount of money to be refunded is a joke. This is not a trade union negotiating salaries for its employees. The Amigo offer was take it or leave it and 95% voted to take it.
It is clearly a tactic to try and get more money put in the pot and perhaps reduce the Directors share options rewards so I'm sure a compromise will be reached and it will go ahead as forcing Amigo into administration will get the customers nothing so then the FCA will look like morons.
The main reason for my post was to print this letter from the Financial Ombudsman to Amigo this week which is in support of the scheme and will be presented in Court. This should be the final nail in the coffin of the FCA objection.
https://www.financial-ombudsman.org.uk/files/30352...
Edited by GPH on Saturday 15th May 14:13
^^^ did make me chuckle too
I'm just curious - how much does ARB depend on Bitcoin? I mean, let's say if the worst comes to the worst and the Bitcoin price either drops considerably or disappears altogether. Would this be the end of the road for ARB or do they have a back up plan?
I don't want to be direct in crypto hence choosing to hold a crypto mining stock. I may add Coinbase (COIN) when it's settled. I'm just trying to get some exposure to crypto without throwing all my eggs in one basket. How much exposure to crypto do you guys have?
I'm just curious - how much does ARB depend on Bitcoin? I mean, let's say if the worst comes to the worst and the Bitcoin price either drops considerably or disappears altogether. Would this be the end of the road for ARB or do they have a back up plan?
I don't want to be direct in crypto hence choosing to hold a crypto mining stock. I may add Coinbase (COIN) when it's settled. I'm just trying to get some exposure to crypto without throwing all my eggs in one basket. How much exposure to crypto do you guys have?
Phooey said:
^^^ did make me chuckle too
I'm just curious - how much does ARB depend on Bitcoin? I mean, let's say if the worst comes to the worst and the Bitcoin price either drops considerably or disappears altogether. Would this be the end of the road for ARB or do they have a back up plan?
I don't want to be direct in crypto hence choosing to hold a crypto mining stock. I may add Coinbase (COIN) when it's settled. I'm just trying to get some exposure to crypto without throwing all my eggs in one basket. How much exposure to crypto do you guys have?
The sentiment towards ARB is very much dependent on the sentiment towards BTC. Though ARB doesn't seem to run when BTC does annoyingly, though it'll happily drop when BTC does. ARB do have a couple of other strings to their bow including owning 25% of Pluto and then there's the green credentials and the new facility in Texas, plus possible Nasdaq uplisting. But fck is it volatile. And annoying. I'm just curious - how much does ARB depend on Bitcoin? I mean, let's say if the worst comes to the worst and the Bitcoin price either drops considerably or disappears altogether. Would this be the end of the road for ARB or do they have a back up plan?
I don't want to be direct in crypto hence choosing to hold a crypto mining stock. I may add Coinbase (COIN) when it's settled. I'm just trying to get some exposure to crypto without throwing all my eggs in one basket. How much exposure to crypto do you guys have?
Phooey said:
^^^ did make me chuckle too
I'm just curious - how much does ARB depend on Bitcoin? I mean, let's say if the worst comes to the worst and the Bitcoin price either drops considerably or disappears altogether. Would this be the end of the road for ARB or do they have a back up plan?
I don't want to be direct in crypto hence choosing to hold a crypto mining stock. I may add Coinbase (COIN) when it's settled. I'm just trying to get some exposure to crypto without throwing all my eggs in one basket. How much exposure to crypto do you guys have?
Just invest in some of the physical asset. I'm just curious - how much does ARB depend on Bitcoin? I mean, let's say if the worst comes to the worst and the Bitcoin price either drops considerably or disappears altogether. Would this be the end of the road for ARB or do they have a back up plan?
I don't want to be direct in crypto hence choosing to hold a crypto mining stock. I may add Coinbase (COIN) when it's settled. I'm just trying to get some exposure to crypto without throwing all my eggs in one basket. How much exposure to crypto do you guys have?
If crypto goes down, ARB / COIN will follow. At some point the costs may exceed the profits of mining and not make it viable for ARB to operate if Bitcoin drops 40% for example. Maybe ARB can switch to mining other assets but probably not set up for mining certain things due to the equipment they have.
I have a sizeable exposure to crypto.
g4ry13 said:
Just invest in some of the physical asset.
If crypto goes down, ARB / COIN will follow. At some point the costs may exceed the profits of mining and not make it viable for ARB to operate if Bitcoin drops 40% for example. Maybe ARB can switch to mining other assets but probably not set up for mining certain things due to the equipment they have.
I have a sizeable exposure to crypto.
I think ARB is profitable with BTC being $20k.If crypto goes down, ARB / COIN will follow. At some point the costs may exceed the profits of mining and not make it viable for ARB to operate if Bitcoin drops 40% for example. Maybe ARB can switch to mining other assets but probably not set up for mining certain things due to the equipment they have.
I have a sizeable exposure to crypto.
Luke. said:
g4ry13 said:
Just invest in some of the physical asset.
If crypto goes down, ARB / COIN will follow. At some point the costs may exceed the profits of mining and not make it viable for ARB to operate if Bitcoin drops 40% for example. Maybe ARB can switch to mining other assets but probably not set up for mining certain things due to the equipment they have.
I have a sizeable exposure to crypto.
I think ARB is profitable with BTC being $20k.If crypto goes down, ARB / COIN will follow. At some point the costs may exceed the profits of mining and not make it viable for ARB to operate if Bitcoin drops 40% for example. Maybe ARB can switch to mining other assets but probably not set up for mining certain things due to the equipment they have.
I have a sizeable exposure to crypto.
Then you have to factor in the difficulty is going to increase. Bitcoin halving in 2024. There's a lot of variables and ultimately the performance on the investment relies on the BTC price. So may as well just buy the asset imo.
I have some ARB, and unfortunately at a minus to what I paid (I think I average approx £1.70). Ultimately I'm hoping ARB branch into other coins or something like that. I know absolutely FA about crypto hence not owning any coins myself, but also now starting to think owning the coin rather than the miner might be less volatile
What really pisses me off is how Elon Musk is fking with it. And the reaction us fools react to his Tweets. They should ban him from Twitter and all social media.
What really pisses me off is how Elon Musk is fking with it. And the reaction us fools react to his Tweets. They should ban him from Twitter and all social media.
Mr Overheads said:
NuckyThompson said:
Milkbuttons said:
I'm guessing there's a few of us in here with ARB and I'm sure most of us are nursing a loss rite now, any ideas on your target exit price are you holding for the medium/long term?
If it goes back over 200 il prob cash out then, I expect Bitcoin to go back on the up from now after musk has had his fun. His manipulation of crypto should really affect Tesla’s share price IMO as if he decides to take Bitcoin as payment and then a month later realises it’s not environmentally friendly it kind of shines a dim light on the CEO of a major company pushing environmentally friendly products. Hi Everyone,
The hornet's nest has been officially kicked, as the richest man in the world stunned social media last night with the announcement that Tesla will no longer accept bitcoin as payment for cars, citing environmental concerns.
If it were anyone else, we'd just write this off as FUD and move on, but seeing as how Tesla's involvement in bitcoin drove the price up from around $36,000 to where we are now, this is more than a bit unnerving for those of us who are exposed to digital currencies.
It's a bewildering about-face to say the least, as they only just started accepting bitcoin 50 days ago. Did they not know how Bitcoin worked at that time?
In fact, when Jack Dorsey came out with a report on how Bitcoin mining incentivizes renewable energy, Elon Musk was quick to agree. That was just three weeks ago!!
Adding to the absurdity of the situation is the clarification that Tesla will not be selling off their bitcoin holdings, but will instead be keeping them until the digital currency can improve its carbon footprint.
Many who are familiar with the technology were quick to point out that hodling bitcoin is tantamount to using it for transactions, at least as far as energy consumption goes. Either you're in, or you're out, a part of the network or not.
What struck me was the corporate language used in the announcement, which reads more like something off a PR desk than something the meme master would have written himself.
This is a detail that has many questioning whether someone else is pulling the strings here. Some have suggested Cathy Wood from Ark Invest is behind this, but I don't believe that. She's knee-deep in Bitcoin herself.
The far-right media outlet ZeroHedge wrote an article implying that it may have been China. Crypto maven Naomi Brockwell sees it as a hat tip to the Environmental Protection Agency in order to gain favor for Tesla's bid to enter the multibillion dollar renewable credit market.
To me though, this is just Musk being Musk. We've seen him intentionally manipulating financial markets so many times before that it's not even funny.
It's very likely that he's looking to buy more at a cheaper price. Don't hate the player, hate the game.
MikeStroud said:
It's strange he bought $1.5Bn of btc on 8th Feb and now is dissing his own investment and won't accept it as payment. Doesn't look very clever at all unless: (1) he is doing an obvious market manipulation ready to buy more but surely that's illegal? or (2) he's spotted an opportunity to create a GreenBitcoin to rival the current DirtyBitcoin, i.e. one created only with green energy.... maybe he has a plan to do something with the likes of hydro powered ARB ? or (3) he's plain mad.
A little from column one, a little from column three I think, but don't expect the SEC or anyone else to do anything about it.Muffster said:
Anyone in national Grid?
Wondering if it will see a decent rise on the 20th when the full year results are out.
LTHer of NG.Wondering if it will see a decent rise on the 20th when the full year results are out.
Seems to oscillate between the low 800's and 1050. Try to add a little when it's down. OK Divi too. There were problems in N America I understand but tht doesn't seem to have had too detrimental an effect.
egomeister said:
MikeStroud said:
It's strange he bought $1.5Bn of btc on 8th Feb and now is dissing his own investment and won't accept it as payment. Doesn't look very clever at all unless: (1) he is doing an obvious market manipulation ready to buy more but surely that's illegal? or (2) he's spotted an opportunity to create a GreenBitcoin to rival the current DirtyBitcoin, i.e. one created only with green energy.... maybe he has a plan to do something with the likes of hydro powered ARB ? or (3) he's plain mad.
A little from column one, a little from column three I think, but don't expect the SEC or anyone else to do anything about it.Mr Overheads said:
egomeister said:
MikeStroud said:
It's strange he bought $1.5Bn of btc on 8th Feb and now is dissing his own investment and won't accept it as payment. Doesn't look very clever at all unless: (1) he is doing an obvious market manipulation ready to buy more but surely that's illegal? or (2) he's spotted an opportunity to create a GreenBitcoin to rival the current DirtyBitcoin, i.e. one created only with green energy.... maybe he has a plan to do something with the likes of hydro powered ARB ? or (3) he's plain mad.
A little from column one, a little from column three I think, but don't expect the SEC or anyone else to do anything about it.Gassing Station | Finance | Top of Page | What's New | My Stuff