POLL: Asicminer Market Value > Bitcoin Market Value

[prophetx]

Let's say that asicminer starts making miners for other SHA based proof of work applications...

I'm posting this b/c I am bummed that I didn't buy any  

Feel free to tell me why my question is completely stupid.

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[freedomno1]

WTF?!?

[Eric Muyser]

No.

[usagi]

Let's say that asicminer starts making miners for other SHA based proof of work applications...

I'm posting this b/c I am bummed that I didn't buy any  

Feel free to tell me why my question is completely stupid.

It's not a stupid question. But investments are often priced at a multiple to expected future value, which may be greater than the current value of currency. What you have to remember is that bitcoin is just another currency and it's economy of use is very small. ASICMINER operates largely outside of that economy and buys loads of resistors, capacitors, and circuit boards with "dollars". So in dollar terms converted to bitcoin, it's quite easily possible for them to be worth more than the total value of all bitcoins.

A better question IMO is if they're really worth so much in the first place (forgetting bitcoins and exchange rates and the total number of bitcoins ever possible). My view is no, ASICMINER is a bubble. Then again, I sold half my asicminer at 1.2 and the rest at 2.4. Shows how much I know.

[freedomno1]

Wtf since hard assets exist if there ever is a successor to bitcoin...
Asic might just produce units for it instead and on theoretical value over multiple different coins exceed net worth
The other theoretical is
The Bit goes down as people move to the successor which meets the requirement Asic > Btc if the successor currency rose high enough
Could happen theoretically
Will it happen that's speculation 

[Taxidermista]

I'm posting this b/c I am bummed that I didn't buy any  

I didn't buy ANY... ANY WHAT??

CAN YOU WRITE FULL FUCKING SENTENCES PLEASE??

[bittommie]

Has Anyone Really Been Far Even as Decided to Use Even Go Want to do Look More Like?

[killerstorm]

First of all, in theory ASICMINER can mine more Bitcoins than there will ever exist: eventually transaction fees will be significant. However, at that point mining will be very competitive and profits will be minuscule.

And yes, ASICMINER can expand into other markets... But it isn't a real public company, so it's very unlikely. Say, if friedcat sees an opportunity in another market, he will just create another company.

FYI public companies work in different ways: shareholders appoint board members, board members appoint CEO and other officers who work on maximizing shareholder value by reinvesting profits into new ventures. This is why Google does all the things, they simply need to spend all those billions they get from search business. Shareholders do not allow Google to pay dividends, as that would mean that Google can no longer expand.

But ASICMINER pays dividends, and you're supposed to invest into new ventures on your own.

[prophetx]

I'm posting this b/c I am bummed that I didn't buy any  

I didn't buy ANY... ANY WHAT??

CAN YOU WRITE FULL FUCKING SENTENCES PLEASE??

Apparently, you did not comprehend any other sentence in my post.  Please go shoot yourself in the foot now.

PS - Did you notice this is posted in the "Securities" section... so what do you think I didn't buy genius... and btw you can has BTC without buying it...