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.
How do you come up with a P/E of 100?
P/E = (share price)/(earnings of last 6 months*) = 4 BTC/0.5 BTC -> P/E of 8
*should be "earnings of last 12 months" but AM's only been mining for 6 mos.
Correct or no?