You'd have to be silly to pick AM over Labcoin at the moment.
That's silly. Weren't you saying that when the news hit, we'd see over .004 for LC, too? And what happened?
I mean, look at the history for the 2 for the past 24 hours. LC news was delayed a bit, and the share crashed. Twice. Meanwhile, AM updates prices, and btc starts flowing in to their share price. Where do you think that new AM coin is coming from?
Now, I'm not saying that AM can't drop more, but saying that LC is the better pick right now is ridiculous. LC has bigger profit potential and substantially higher risk, and the market knows it (look at LC chart for the last 24 hours).
It takes just one delay to crash LC beyond recovery. AM has more room for error.
I think people here understand that LC is the challenger. BTW what did you say when AM crashed from 3.6 to 2.7 in less than 24 hours ?
What's so hilarious to me, is that I've been saying that AM price would drop to 2.x due to competition for months now and Vela and his buds from the AM spec thread called me a troll, delusional and that the price would soon hit 10 BTC.
Vela's predictions are based on hopes and wishes.
The problem with these stocks is there is basically a finite cap on how many bitcoin can be mined. If the price of bitcoin goes up, the
dollar value of the shares goes up as well. But the nominal value in BTC stays the same. In fact, it may go down because a higher dollar price will increase mining competition even more, bring more new entrants and increase the difficulty even quicker, resulting in either a smaller network share or a requirement to re-invest even more.
In fact... the share price of ASICMiner is 2.8 right now. With 400k shares that means it has a market value of 1.120
million bitcoins. In dollars right now that's $
132m USD at the bitstamp price of $118 (or $144.4m at the b.s. MtGox price)
What would be crazy - I think if the price of BTC were to hit $1000, we might see companies do IPOs to fund build their own lower-tech, small scale fabs. While the huge, industrial fabs cost billions - that's usually the cost to build at the smallest process node available. The fabrication process is not all that complex. Obviously there is a lot of secret information the big companies keep close to their chest, but for 110, 130nm design it might not be that difficult to do it with cheap equipment.
