...The prices are outrageously high.
By what measure?
It is not like there is a P/E or anything like that.
Another three-fourfold increase in difficulty (and it is coming maybe in a few mo due to new rumored miners) and mining would be roughly at breakeven.
By the measure that last time I looked prices were like $500
What does mining have to do with anything?
last time...don't be so modest. you post here many times a day.
bitcoin is not some lines on the screen, read about it.
example: if it would cost $100/barrel of oil to dig it out, do you think that oil would be trading at $100/barrel?