There are those who mine for present value, and those who mine for future value. As long as people are mining for a future value they have in their head, they will not stop mining. To them, if they think the price is $10,000 per coin, they will keep mining until their cost is higher than that
No ASIC anywhere will ever be idle. If it does not recoup electricity costs, they will just sell them to someone who can mine for free at work. They will never go offline, and the diff will never drop again.
When GPU's were usable, it could drop because the cards could be retasked. Not so with asics.
I never looked at it this way. Very good point.
Even though it would be more worthwhile to buy the btc instead of mining at lower btc prices, people will still mine away. I'd have to concur. I would do the same myself unless it became drastically unviable. And even then I might still continue mining lol.