for instance i have been running the same rig for 2 years.. whether it was priced at 60btc 2 years ago or 1btc today for the same gighash.. i dont change my goal sell price dependent on the rig cost.. i sell my coin dependent on my electric and time (production costs)+spot(profit)
your trying to say that gold is not backed by the production cost+spot but gold is backed by dollars. because dollars pay for the excavator which then digs out the gold!
so if an excavator costs $50k 2 months ago, and now advertised for $40k, no one in their right mind would sell 20% cheaper based on mining equipment price changes..
yes part of my production cost is the initial outlay of the rig) but has nothing to do with me changing my sell price if a rig producer changes their price day/weekly.. as thats irrelevant..
retarded logic. So your goal of selling BTC would always dependent on electricity and time regardless of how much you spent to buy the miner? How do you even price your time? This is just retarded thinking. I'm not even to bother to argue with you anymore. And you keep mentioning this $500-600 cost to produce BTC. Are you saying your time and electricity cost that much to produce each coin?
And I'm not going to even delve into your convoluted/nonsensical logic.
Simply put, the market for a coin does not care how much you put into producing the coins. And if you want to price your coin differently from the market price, the market is not going to care because either you will be 1. selling your coins way below market price. 2. fail to sell your coins because you are pricing them too high.
Simplest test to prove you and Manfred wrong is that these other PoW coins, aside from BTC (since demand is fairly high for BTC), is that these coins going to drop in value regardless of electricity cost it took to mine them. These coins are going to drop in value because there is too much supply and not enough demand.
And no, i'm not saying gold is backed by anything. Gold price is determined by supply/demand like everything is in a capitalist market. Learn some economics please. There is no "backing" unless someone guarantees a preset exchange rate to enable you convert two commodities/currencies back and forth.