...or you could mine even if the price went under $7... just waiting selling off until a higher price.
if the price is under $7 for a longer time, the difficulty would even be lower.
profit need to be done before any product is made ... losing money and just wait for the price to go up is like working and waiting to be paid in the future
passion and hope have nothing to do w/ economics
i did not say that it had. but some miners, are keeping thier bitcoins, and paying their bills with fiat money. they are not cashing the bitcoins out. its because they think that bitcoin have a future, and think of the mining as an investment.
and yes! investments have risks. live with it.