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?
P/E is annualized so you should convert the earnings of the past x months to 12 months before computing the P/E.
Still I wanted to see how the person I was responding to computed a P/E of 100. I have a feeling it will be "fun".