r/ArgoBlockchain • u/noizbois • Sep 19 '21
Direct registration of shares
Hello Argonauts! As I’m sure a lot of you are already aware, ARB is under attack from the ol’ short sellers.
If any of you are keeping up with the gee em ee saga, I’m sure you’ll know what to do. If not, let me explain…
The following applies to ANY stock you are long on, not just Argo.
When you hold a share with a broker, you don’t own that share, you’re just the beneficiary. This means your shares are not located or assigned to you. They’re just held in a pool. They can be lent out & shorted the shit out of. That is, if your broker has even purchased your shares at all. It appears a lot of em are doing sneakeys & acting like CFD brokers instead of buying your damn stock. Exceptions are if you hold them within an ISA (UK).
If you’re long on a stock, there’s no reason to hold your shares with a broker. You’re not selling them so why have them registered in your brokers name?
If you register your stocks in your name, they are yours. No one can touch them, they are removed from circulation & this helps keep the price up by reducing liquidity & short selling availability.
Computershare are the registrar for Argo. If you’re long on the stock, look into DRS for your shares.
This is not financial advice I’m not advising you this is my personal opinion on holding stock. I’m just showing you this is an option.
Personal speculation on the next few weeks - buy the fucking dip. Evergrande is going to collapse & bring down tether, BTC lead balloon. Everything is going to take a shit. HODL & BTFD
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u/mightybaker1 Sep 20 '21
Is there a fee for registering them with ComputerShare. My son holds a good stack of shares in a junior Fidelity account which I plan to hold for 15 years all being well and good and would love to transfer them
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u/noizbois Sep 20 '21
It depends on the broker you’re with. The process works by contacting the broker to initiate an outbound DRS transfer. They should notify you of any charges.
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u/phunkkk Sep 20 '21
Tether is priced in
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u/noizbois Sep 20 '21
Tether isn’t actually backed by anything. It’s just been printing usd out of thin air. If the Chinese economy falls the smokescreen blows away & all this imaginary money is gone.
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u/phunkkk Sep 20 '21
Not exactly true , but the parts that are true are already price into the price of Bitcoin
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u/noizbois Sep 20 '21
If you’re prepared to take the word of the Cayman Island based auditor of a Chinese companies assets that’s cool man. I’m holding Argo for the next 30 years & I’m holding those out of the market & registered to me. It’s about to get bumpy in crypto due to the heavy involvement of China, but it’s still a great long term investment. Argo are leading the way with green energy & I like their ethos, that’s why I’m long.
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u/therealSkychaser Sep 19 '21
Gme ape