Well the issue with having 10 mining rigs is the cost of capital. That would be like 8 grand. Few people have that kind of scratch lying around. Also, you'd probably make more money directly investing that 8gs than mining.
But yeah, that's exactly my point. The price makes no sense. Please go through the calculations yourself. The whole point of this thread is to arrive at a fundamental value, which very few people seem to want to do, they get offended.
To me, that's signs of irrationality.
while i do agree with you on most of the things, i don't think we can just agree on a value!, unless some of real founders (the very 1st miners) make a stand and try to stabilize the prices with their stock coins, speculations,hoarding will keep happening, and even more , and as long as people at mtgox can place bids/ask without actualy having the order it can still fool new comers ! Ofcourse i assume that the very 1st miners care about the bitcoin itself more than the profit like most of the late coming miners who just waiting for prices to go up and up and up, and they will crash the market once any sign of crash will show up.