It's a good start, but because it doesn't go far enough, it's still wrong. It assumes that the hourly value of the time is static, and does not change based on the size/length of the job. If I offered you $1,200 for 40 hours work, would you take it? It's $30.00 an hour, which is half the rate you valued your time. What if the job were 80 hours? Would you do THAT for $2,300 ?
As the size/length/duration of the job increases, that puts downward pressure on the hourly rate, for very good business reasons. If I know I am locked-in to a 3 month contract, I know I will not have to spend as much time looking for more work. I have a "known universe" as far as scheduling out my workload and meeting deadlines. I have time to hire other people and outsource parts of the job.
That whole notion of what the per-hour equivalent of the 50 cents was pure bullshit. You'd have to be a complete fucking retard to believe it. Yeah, it's the money you WOULD be making. But you aren't making it. You aren't making anything anything, except making someone else some money.
In direct contrast, this rather retarded thread has the exact opposite effect. This thread isn't a good lesson in how to value your time, it's a good lesson in critical yet common errors in thinking that gives you the illusion of wealth creation, when in fact you are simply wasting your time jacking off. Stupid people think like this. Stupid people do things like this. A "constructive" member of the forum ought to be explaining and warning people away from stupid shit like this, instead of appearing to support the stupidity.
You folks that "thanked" the previous post are also wrong. There's nothing positive or constructive here, except some penny-ante chisler that should be on WF is screwing around with ignorant newbs creating the illusion of productive activity.