Quote from: ProfMac on February 05, 2013, 05:10:52 AM

Quote from: Namworld on February 04, 2013, 04:45:15 AM

...
This is 696/400 000 shares of ASICMINER or 0.174% (200 000 sold for funding, 200 000 kept by company)

Info about these shares:
- 10 to 12 TH total planned in early february to mine for shareholders
- 6x increase planned in a second batch
- Further expansion possible
- Share of profit from sale of units
- Ownership of an ASIC manufacter, long-term potential

...

See the full thread: https://bitcointalk.org/index.php?topic=99497

I must have missed something here. My analysis is:

The Avalon-2 is about (60 GH/s) / $1,500 --> 40 MH/s/$
This offer is (10TH/s) / (200,000 shareholder_shares) --> 50 MH/s/shareholder_share

On the basis of MH/s being equal, and neglecting things that make it not really so:
40 / $ = 50 / shareholder_share --> 50/40 $/shareholder_share

50/40 $/shareholder_share * 1 BTC / $20 --> 0.0625 BTC / shareholder_share

People are bidding 4.3 times this amount. Why?

You fail to realize in your calculations that:
(0) This is equity, not a mining bond. That means that our hashrate will perpetually be increasing and we even get income from sales.
(1) Having terahashes now counts. You can't really buy an Avalon-2 shipping in February. Even if you could, the market price would be higher than Avalon is charging. This is just like last year where mining bonds spiked up in price to a reasonable P/E ratio, rather than sitting at their hardware's preorder-value.

Yes, this makes this 4.3 times that amount. In fact, it makes it many more times that amount, as shown in the other NYAN auction where people paid 0.45 BTC per share.