> "So the price of Bitcoin may be related to mining costs in the short term, as miners quit when it gets too expensive." This is wrong. Supply does not decreas

> "So the price of Bitcoin may be related to mining costs in the short term, as miners quit when it gets too expensive." This is wrong. Supply does not decrease when mining gets too expensive and it does not increase when mining gets cheaper. This is the very special property of Bitcoin. See my other post. > "then the 21 million Bitcoins would equal the entire human wealth" Not necessarily. There are lost coins. And likely not all remaining coins will participate on the market. More precisely bitcoins supply offered on the market times velocity would be equal to the entire wealth offered on the market.