Re: Bitcoin ETF
[Re: rex123]
#7390627
10/28/21 12:33 PM
10/28/21 12:33 PM
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Joined: Jan 2018
Posts: 4,587 MN
Donnersurvivor
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trapper
Joined: Jan 2018
Posts: 4,587
MN
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You guys that know about bitcoin what do you think about them? Worth it or not? MARA and RIOT also follow the price of Bitcoin, guess I have no looked into the ETF. What are the Tickers?
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Re: Bitcoin ETF
[Re: rex123]
#7390672
10/28/21 01:43 PM
10/28/21 01:43 PM
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Joined: Mar 2007
Posts: 35,182 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,182
McGrath, AK
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Not for me. The fact that they are based on futures makes it an expensive proposition because of the way the fund has to continually buy more long-dated contracts as short dated contracts expire. So you are always paying more for contracts dated out 6 months while near term contracts are selling for less. The condition is called "contango" and it exists in most all futures markets. The fund ends up experiencing what is called "negative roll yield".....AKA losing money. Probably more than you wanted to know
Mean As Nails
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Re: Bitcoin ETF
[Re: rex123]
#7390923
10/28/21 08:21 PM
10/28/21 08:21 PM
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Joined: Mar 2014
Posts: 3,655 Central Texas
Chancey
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trapper
Joined: Mar 2014
Posts: 3,655
Central Texas
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How is it that Bitcoin stocks continue to sky rocket high, but the companies that mine them not so much?
Folks just built a brand new bitcoin mining company within my county called the Whinstone facility; supposedly it got bought by RIOT. Makes me sick really, all this good farmland and ranchland is being subdivided for houses and big companies. This is in the fastest growing part of our state. They say that this new facility uses enough electricity to power 150,000 homes. I really don't know how they can operate. How is it possible to for a commodity to be worth what Bitcoin is and the industries that mine it, less than $30 a share?
Resident Conspiracy Theorist Accused Moron, Nazi, Low IQ, and Putin Fan Boy
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Re: Bitcoin ETF
[Re: rex123]
#7390941
10/28/21 08:42 PM
10/28/21 08:42 PM
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Joined: May 2010
Posts: 10,510 MN
Steven 49er
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trapper
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Posts: 10,510
MN
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What he said lol.
Just because the price is high doesn't mean they can mine it at a low enough cost to make a profit.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin ETF
[Re: rex123]
#7390949
10/28/21 08:49 PM
10/28/21 08:49 PM
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Joined: Mar 2014
Posts: 3,655 Central Texas
Chancey
trapper
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trapper
Joined: Mar 2014
Posts: 3,655
Central Texas
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Thank you White and Steven! They keep putting in the local paper that they will only use electricity when everybody is asleep, or when energy demands are not up. With all the new houses popping up and land being subdivided, I just don't know how they can operate. (This word is unacceptable on Trapperman), our county don't even have 150,000 homes, YET!
Resident Conspiracy Theorist Accused Moron, Nazi, Low IQ, and Putin Fan Boy
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Re: Bitcoin ETF
[Re: white17]
#7390958
10/28/21 08:55 PM
10/28/21 08:55 PM
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Joined: Mar 2014
Posts: 3,655 Central Texas
Chancey
trapper
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trapper
Joined: Mar 2014
Posts: 3,655
Central Texas
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I hear ya on the loss of open space. On the other hand, which would you rather see..........a large facility like that or 150,000 new homes. I know which I would prefer.........neither !
To address your question about the share price of RIOT. This is the first year out of the last 5 that they have made a profit. But the real culprit is that they keep issuing new shares that dilute previous shareholder value. They only earned 42 cents per share in the trailing 12 months. I know that 27-30 bucks a share seems cheap but it is actually very expensive relative to their earnings. We are getting both at the same time! My property taxes went up 10K/acre this year!
Resident Conspiracy Theorist Accused Moron, Nazi, Low IQ, and Putin Fan Boy
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Re: Bitcoin ETF
[Re: rex123]
#7390962
10/28/21 08:57 PM
10/28/21 08:57 PM
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Joined: Dec 2006
Posts: 17,684 Rodney,Ohio
SNIPERBBB
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trapper
Joined: Dec 2006
Posts: 17,684
Rodney,Ohio
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If you look at RIOT's market cap, its went from roughly 160M last october to 2.6'ish Billion today. Think the high was 4'ish Billion back in February
Energy prices, mining efficiency, reward rate is going to factor against the profit. Also remember, bitcoin just before "15 days to slow the spread" last year was trading in the 5-7k and had been bumping in that range for 2 years since the spike in the winter of 17-18 where it went to 20k.
Last edited by SNIPERB🦝; 10/28/21 09:01 PM.
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Re: Bitcoin ETF
[Re: rex123]
#7390972
10/28/21 09:01 PM
10/28/21 09:01 PM
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Joined: Mar 2014
Posts: 3,655 Central Texas
Chancey
trapper
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trapper
Joined: Mar 2014
Posts: 3,655
Central Texas
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I don't understand it Sniper, what does that mean?
Resident Conspiracy Theorist Accused Moron, Nazi, Low IQ, and Putin Fan Boy
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