If the gold value was based on what it takes to mine it then the price wouldn't be so high. After all, they use slave children to mine and pay the families peanuts. There are several but the most significant parameter is the quotation established by the "fixing".
If the volatility is not something that people can handle then the cryptocurrency market is certainly not for them. Because there is not a lot much more volatile than cryptos
Agree on what you are saying here. When it comes to volatility i would hands down on cryptocurrencies because nothing on this world would able to equal when it comes to price movements.This is the risk and this is the golden way to make money.This is why bitcoin and other altcoins do gain popularity because of this characteristics.