this is the hidden value line.
EG it costs people atleast $900 to mine an ounce of gold. this is golds value line
Isn't it more proper to say that there's cost? There's no "hidden value line", it just costs $X to mine gold, it costs $Y to make a house, it costs a frequently variable amount of money to mine a bitcoin.
bitcoins value is backed by the mining and acquisition costs..
But, the mining and acquisition costs in bitcoin depend (although not solely) on the demand. Difficulty does change according to the demand. Mining bitcoin isn't the same as mining gold, and therefore not a good example of the "minimum price", which is, as said, the cost.
i was talking about the bottomline.. the ultimate bottom.
yes someone in iceland/kazahkstand can mine bitcoin for $25k/coin. but there is no one belowlow them that can mine for less
where as japans mining costs are like $65k+
by taking the most absolute bottomline on the planet no one can get for less.. that becomes the new "zero"
because no one can get it for less at the time.
if there was no demand. its not an instant $0 of the coin.. its a process.. the $25k minimum slowly drops as people drop out. and like i explained this slow drop is not a certainty of being $0 short term because the drop itself slowly going down can infact re-energise some desire/demand and thus keep the price active longer or re-birth a new demand.
and as i said the value line is not based on all mining cost of the planet. its the bottom line.. all things above the bottom line is the speculative stuff based on regional variances.