alot of people think blockchain currency units are created at no cost and so the market can speculate down to zero or up 'to the moon'.
I disagree here. I'll keep it short because it's OT in this thread: for me Bitcoin and all cryptocurrencies work like platforms (i.e. social networks). The mining cost is not very relevant for the value creation, it's usage and above all demand for the blockchain. If you want a "cost" to speculate on, I think the most convincing metric would be the volume of fiat/other assets being converted to Bitcoin without being immediately converted back ("new buy orders created", for example). So I actually don't see a big difference to PoS coins here.
i think we have already had this discussion many times and you simply forget the basics
VALUE (economic number) is not PRICE
values(sentiment/desire) is not VALUE
bitcoins VALUE is not measured on the market. VALUE is a number that sits below the market price. much like retailers do not show the cost price to the farmer of milk/butter. retail market price just shows the going rate to customers which is affected by values and other market effects
but underlying that is the wholesale price, the value. which if the market comes down to near the value amount then the price is at value as opose to at premium
farmers cant/wont sell their milk/butter below cost and if the most efficient farm on planet can only make milk/butter the retailers cant even get milk/butter for less so wont sell their retail market product below that value either.. hense it forms a support line no one wants to cross below
however if people can self produce for pennies, then it can sell for pennies and still break even.. so if the current price is exceptionally high compared to its self production cost. the only reason its held up high in the markets is due to the market affects of manipulation and thus has more chance to crash
..
when you mention looking at stats of how much coin is on market orderbooks waiting to be converted or is being converted today.. thats the stuff of the market effects of the swings of the short term PRICE drama of whats ABOVE VALUE.
dont confuse value with price