I wonder if there were really any idiots listen to Ken's "advice", sold their Asicminer shares and bought AMC?
Asicminer
price 3.2 -> 4.4
AMC
price 0.0025 -> 0.001
Asicminer
800-1000TH projected hashrate by the end of this year
AMC
11TH projected hashrate
Asicminer
100% of hardware sales goes to all shareholders
AMC
10% goes to AMC, 90% goes to VMC, Ken's pocket.
Asicminer
shares cannot by any means be diluted
AMC
shares will be diluted by 2.5 times after an year.(if AMC still survives at that time)
I wonder if any of you idiots actually read ANYTHING correctly
800-1000TH is what Friedcat projected the ENTIRE network to be at end of year, though at that point I don't believe he had considered anything from bitfury or KNC coming online. In view of that figure he was bringing AM up to 200TH .. he may be aiming a bit higher now if he is taking extra competition including AMC seriously, though if all AMCs hash this year is coming from avalon chips he may have had that factored (Knowing about how many chips would be out there, not specifically who would be using them.)
Anyway, AM has benefited from something of a "perfect storm" of setbacks from everyone else, which has caused a very unique business environment for it. This would lead share price through expectation based on past performance not to reflect the changing reality of the mining market, i.e. competition.
Therefore the expectation that AM is currently overvalued is valid. The logical thing to do would be to take profits, withdraw investment, from the overpriced entity and invest in one that is going to provide that competition. I think AM will only be worth half what it is long term. Meanwhile 2nd or 3rd large mining operations to come along, can also be worth about half what AM is now, but they're starting from fractions of that. So if you want your investments to drop by half, stick with AM, if you want them to be worth as much as half as AM from maybe a tenth or twentieth at this point in time, invest in a competitor.