Quote from: DebitMe on August 16, 2013, 11:49:12 AM

Quote from: GodHatesFigs on August 16, 2013, 11:29:47 AM

Basic math shows how overpriced the shares are: there are ~10million more bitcoins left to be mined over the next century or so. Even if ASICMiner were able to maintain 20% of the total network hashrate throughout that period (breathtakingly unlikely), they'd only mine 2million BTC. Split between the 400,000 shares that creates an upper limit of 5BTC/share.

sigh, and once again we hit this discussion. Just continues that once every 3 to 4 pages some ignorant fool pops up who can't/doesn't read and tries to state share price valuation like he has any idea how bitcoin works. Well once again here is the answer. The idea behind bitcoin is that transaction fees will increase by then to a point where they alone will be compensation enough for miners to continue mining. This effectively destroys your "upper limit" as the same coins can be mined multiple times as TX fees.

Please do some homework before posting crap like its fact, its getting pretty sickening.

I'm well aware of transaction fees; their potential simply does not justify ASICMiner's P/E of 100, especially as their first mover advantage is about to come under fire. The magnitude of the hype around this company is unreal.