All this really tells us is that there is a floor price below which newly mined coins will not be added to the market - this floor price is determined by expectation of Return/ghash in BTC and the cost/ghash in $ of the most efficient mining hardware.
This is not a floor on the price of bitcoin as supply from existing holders may still exceed demand.
As mining supply per week is a continuously shrinking % of the outstanding bitcoin stock shouldn't mining cost have less and less impact on the price of bitcoin?
Done a poll before, more than half of the miners hold their coin at least for a year
https://bitcointalk.org/index.php?topic=296264And for traders, similar distribution
https://bitcointalk.org/index.php?topic=295753.0If majority of them cash out 10% per year, the daily coin net supply on the market will be around 5000-6000 level forever(see my signature for detailed analysis). So, to sustain an exchange rate of $1000, there should be 5 to 6 million USD each day purchasing bitcoin around the world
Money is being printed by the central banks of major economies around the world, each central bank are printing at least 1 billion USD per day, all of them added together will be higher than 10 billion USD per day
Another way is to look at the GDP that might use those coins as currency. World GDP is 80 trillion USD per year, means 220 billion USD worth of goods produced and traded each day, if they are going to use those 500 billion satoshis daily to facilitate the trade...
