If you’re already a crypto collector, all I need to do is to say Global Blockchain Technologies Corp. (OTCKMTS:BLKCF) The overhang has lifted and it’s time to pick your spot in the new world. You know what to do.
For most of us, a “fork” is a crossroads or a turning point. It’s the moment when the models shift and stocks need to pivot to match. After the fork, the world is different. But within a narrow window of time, everyday traders have a chance at upside potential . . . provided, of course, that they commit before the window closes.
Think back to the craziness around the king of crypto currencies, Bitcoin. Bitcoin hit fork after fork last year, at least 4 big ones and so many little ones the experts literally gave up counting them. Bitcoin was forking every other DAY as recently as December, each of them creating a new binary path, a “before-and-after” world.
Welcome the FORK
Sometimes the forks spawned whole new currencies. Bitcoin gave birth to Bitcoin Cash, then Bitcoin Gold, each with its own story and gain profile, not to mention secondary spinout opportunities. Traders went berserk. And the “original” currency swung in huge circles but ultimately ended the year 1,300% more valuable than when it started.
For all practical purposes, BLKCF just hit one of those forks. Shareholders of BLKCF as of March 1st are in line to receive stock in its wholly owned subsidiary, Global Blockchain Mining Corp. (its proposed trading symbol is FORK). There’s potential for an OTC version south of the border as well.
The fork has happened. But if you missed the turn, don’t spend too much time crying. BLKCF will finally be free to show the world its potential.
Load the chart and let’s look between the lines:
On the surface, it looks like a standard consolidation channel. BLKCF went on a 1,100% bull run last year. It’s still up 300% plus from the lowly $0.10 where it traded as recently in August.
Any stock like that needs a little time to catch its breath, and with Bitcoin mania pausing, BLKCF went back to fill the big gap. Under normal circumstances, that would be the end of it. We’d talk about the way the implied tops and bottoms are converging, gauge the growing odds of the next breakout to come.
This is not “normal circumstances.” There’s a FORK in the recent road that throws off all the standard math.
The spinout terms shifted a lot of the top layer of sizzle out of BLKCF and into that new stock. FORK gets all the assets that spin up beautiful Bitcoins from raw computer power — that’s the Manitoba and Mozambique mining operations, the “distributed processing” unit. All in all, that’s 175 megawatts running 24/7/365.
Bye-Bye, Bitcoin (For Now)
Last I checked, that’s enough to create 175 Bitcoins per HOUR. All on the FORK side of the “family.” When that operation ramps up the back of my envelope says the ultimate revenue there could be vast.
It’s a big target. FORK shareholders could be in for a real treat. But here’s the thing: the BLKCF stock price barely even BLINKED!
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Even after the proposed spinoff, BLKCF trades within sight of where it did right before the split. Yeah, management also forward split 1:1 at the same time, but that’s already factored into the chart up there.
BLKCF minus FORK equals largely unchanged. Normally you’d expect the market cap to go down to reflect the fact there are now two stocks splitting up the space only one occupied before. And yet depending on the timeframe you look at, the share price has actually edged UP . . . even though there’s a dramatically different asset mix in there now.
That’s Bitcoin logic. A fork doesn’t have to obey normal “1 split in half = half plus half” rules. Sometimes, as even the glossy magazines like FORTUNE have realized, “1 split in two = 1 plus a little bit extra.” BLKCF split. FORK, with its entire Bitcoin bonanza factor, doesn’t even trade yet but it’s already been factored out of BLKCF.
When FORK hits the market, that stock could be that “little bit extra.” If you were in BLKCF before March 1, 2018, what is happening now is that market value has been created here out of the equivalent of thin air. That’s something hardened traders don’t see every day, to put it mildly — the equivalent of a MARKET MIRACLE!
But if traders today think BLKCF rates roughly what it did before stripping out that massive FORK, the remaining assets here must be pretty compelling, right? Time to take a look at what the all-new BLKCF includes and where it can go now that the pure Bitcoin piece is gone.
Roll Up To Pure Blockchain
BLKCF has always been all about the blockchain technologies. It’s right there in the name of the company, Global Blockchain Technologies Corp. (OTCMKTS:BLKCF). Blockchain is the computing model that supports Bitcoin and every other crypto currency developed lately. You might be familiar with the metaphor of how the smart money sells shovels to gold miners? Blockchain is the shovel.
Now that BLKCF has proposed to spin out its Bitcoin “mine,” it’s a pure shovel company. As the latest press release puts it, the stock we can trade today comprises the “investments, agreements, partnerships and independent in-house initiatives to create and incubate Internet scale public blockchains, enterprise solutions, tokens and ICOS.”
That’s a lot of Silicon Valley buzz mashed into a single sentence so management breaks it down in a little more detail:
- Trade finance in conjunction with major State actors
- Enterprise peer to peer storage solutions
- Ethereum hard fork with features that enhance it as a global payment rails solution (the Laser Blockchain)
- Tokenization of 3 incumbent gaming networks with over 200 million users including functionality for both e-sports and gambling
- Decentralized marketplace for big data geared towards the multi-trillion dollar “Internet of Things” industry
- Peer to peer fully decentralized lending marketplace built on the Laser Blockchain
- Securitization platform for artworks including music, video and brands in partnership with some of the world’s most recognizable artists, brands and studios, something not possible before the advent of blockchain
- Launch of an Exchange federated on the Stellar network with leading FOREX and remittance partners to be announced
- Launch of a cryptocurrency exchange with State backing
That’s a lot to digest. BLKCF apparently wants to get involved with government blockchains, maybe even helping out with a formally regulated crypto currency exchange — probably a good thing given all the hacks and cracks lately. They want to attach blockchains to loans, again an interesting idea. Maybe that’s a new kind of credit score system, maybe it’s an automated collateralization or repo where the loan itself “knows” when you’ve defaulted.
(One of the hot aspects of blockchain is “smart contracts” that enforce themselves, by the way. Outside our orbit today, but if BLKCF is working along those lines, they could be the first real proof that this technology has the real-life disruptive power its fans dream about.)
And whenever blockchain creates new currencies, BLKCF is open to the potential. That Ethereum solution could bring Bitcoin-like transactions to the old-fashioned world of moving money around to actually buy and sell stuff. Move over Visa, Mastercard and PayPal!
BLKCF just introduced the Laser Network, the SWIFT for Blockchain. Laser works by operating on top of any existing blockchain network and optimizes its functions – which includes the ability to operate with other blockchains. Laser with these new and unique features seeks to play a central role in the growth of all Blockchains by for the first time allowing interoperability between Blockchains! Laser will feature the use of an overlay protocol that provides “pseudo confirmation” of transactions, enabling any two cryptocurrencies to be transacted in a matter of seconds and will feature a service to make transactions anonymous in any cryptocurrency.
And then there are the “gaming networks” and that “securitization platform for artworks.” From the headline flow, these are probably the pieces that are farthest along, moving fastest and occupy the biggest share of BLKCF management’s brainpower . . . this is where the stock gets its “oomph” now.
It’s not exactly trivial stuff. BLKCF has MILLIONS invested in these plays. The goal is naturally to hit one or more home runs in the foreseeable future. Start with the games. This tiny little company has at least $12 million staked on strategic bits of various sports and gaming companies: Breaking Data Corp. (which runs GIVEMESPORT and a 119 million fan network) and Millennial ESports Corp. (racing apps, in-game currency).
That’s a lot of dots to connect, but the blockchain angle shows up loud and proud when you do it. The game company provides the software and the drive to create new digital “currencies” in order to run in-game purchasing. That part could be true genius: suddenly “money” becomes whatever token or credit the designers can dream up!
With GIVEMESPORT on deck, BLKCF can market to one of the biggest captive sports social networks around, 45% bigger than mighty ESPN on Facebook alone.
Then there’s the art piece. Remember the Kodak coin? Last month shares of tired old Eastman Kodak (remember them? they made “cameras”) quadrupled when the company announced that it wanted to launch its own crypto currency.
This one started out as a way to track photo rights to crack down on image pirates — reading between the lines, if you want to protect a picture, pay the photographer or just make sure you’re not stealing the rights, you’d have to deal with Kodak and its blockchain.
But the buzz only stops at pictures because Kodak used to be a camera company. Once they work out the kinks, blockchain can protect movies, songs, books tighter than the best anti-piracy codes of previous generations.
Long story short, BLKCF paid $2 million to buy EVERY SINGLE ONE of the initial Kodak coins. They run that niche. The last time I did the math, every BLKCF share now incorporates 0.44 of one of those Kodak coins . . . in addition to the games, the sports and the mining operation itself.
Add it all up, the fork has been good to this chart so far. As that fork recedes in the rear view, we may not even miss the Bitcoin piece.
That said, your fellow traders may not have put it all together yet. BLKCF is the kind of stock where 1+1 can literally add up to 3 under the right conditions, thanks to blockchain logic.
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