Hey Bison mate,
Not a personal attack on you or anyone else on this forum& absolutely no offence intended. I know you get this mate, and weren’t replying to me in your post, but just defending those on this forum with a negative view.
The reason I, and I assume many others here, put money intoBPG in October/November 2017 – or around that time, was anything and everythingcrypto and crypto related was going nuts. I didn’t have the knowledge (and still don’t) to understand what makes one crypto currency worth more than another, and I personally don’t see the intrinsic value of holding a coin. Despite people holding BTC for a long time made a fortune from BTC, I couldn’t bring myself to buy something that I didn’t understand. I did see the value of an ASX stock that could have been very profitable from gaining exposure to this industry however. There was intrinsic value in owning/operating a crypto exchange, as there still is, as long as the industry is still alive, IMO.
The commentary on thisforum is around the BPG business operations and management. In theory, as with any listed company, management should work for the best interests of their shareholders. IMO I don’t believe management have done this whatsoever, more likely they have worked in their own self-interests – complete disregard to shareholders for the best part of the year. Unfortunately us Shareholders are not even able to keep management to account – we were powerless to stop them in the 2017 AGM issuing those shares, now management hold even more voting power – so really they do what they want and have very little interest in us common folk with our measly little holdings.
Back to this announcement - Yes, this is positive,I’m all for them getting the exchange up and running. Yes it is better late than never – and I too had written this investment off in my mind a long time ago. But as many point out, what differentiating draw-card does BPX have? What will make people new to crypto trading go to them and not others? Why would anyone switch exchanges? Don’t get me wrong – they’ll get a customer base and the exchange will start making them an income, I am just not convinced it’ll explode and be a massive money spinner for a very long time, if ever... but happy to be proven otherwise.
In a declining crypto market and speculation of a looming(global) recession, I just don’t see the ASX market getting excited about this if/whenit does resume trading.
Lastly, genuine questionsto anyone who wishes to respond:
1. If you could go back to when you originally put money into BPG and, knowing what you know now (about BPG, what has happened over the past year and that your money would be tied up all this time), would you still have invested your money in BPG?
2. If you had your cash that you initially put in BPG, in your trading account, saw the announcement today, (and assuming BPG were trading), would you have bought into BPG at 0.009 or above?
IMO – 99% of you would immediately respond No in your minds,please correct me if I am wrong – I guess that’s what makes a market.
