Who said that the price must stabilize? bitcoin is a digital commodity with a very unique property: the supply of newly minted coins is pre-determined and does

Who said that the price must stabilize? bitcoin is a digital commodity with a very unique property: the supply of newly minted coins is pre-determined and does not rely on market forces (because hash-rate retargets to achieve the plan regardless). In general the price of any commodity is determined by supply and demand. Aggregated supply is S0+S1, where S0 are newly mined coins (known) and S1 is market supply (unknown). Aggregated demand is generated by the market (unknown). So in the price equation you have two unknowns which are unlikely to be stable in the future. The cost of mining should not affect the price in the late game. Here is what Satoshi had to say about this: http://satoshi.nakamotoinstitute.org/posts/bitcointalk/65 http://satoshi.nakamotoinstitute.org/posts/bitcointalk/65