The gold mining analogy sucks because of the following dynamic:

When the market price for gold is going up, extraction of gold is more attractive and more tons gold will get extracted per day by miners. When market price for gold is going down, mining activity is going down as well, some hard-to-mine source will even be totally unprofitable to mine.

With Bitcoin, it is different. With market price, hashing power is going up and down. But it is always a fixed independent number of BTC that are being mined (right now 150 BTC per hour). The number of Bitcoins is limited, but it is independent from the market price.



The gold value analogy make more sense though, because both are valued by people because they are limited. But that has nothing to do with mining or hashing. (Let alone that the oil price is just telling us a lesson that limited resources are not as limited as we often think. When price rises and technology advances, there may always be new ways to mine more of the stuff.)