PoS costs nothing to create a block. and so gives no value to the cost of acquisition of the fresh minted coins.
PoW has a cost and no one is foolish to sell at a loss. this gives bitcoin an underline value.
That's inaccurate. In both consensus systems, it's not the cost that matters. Users don't care about miner/minter costs -- why would they? You're only addressing supply, not demand. [1]
Even then, your assumption that miners won't sell at a loss is not only unprovable but irrational. That's like saying no investor -- in any asset -- would ever sell at a loss. If that were true, every market would rise in perpetuity. That's untrue on its face.
Aside from speculation, users are paying for
security. Users aren't buying BTC so that unprofitable miners can reach their break-even point.
[1.] the cost of mining does NOT equal the current price. but does create a support of underlying value
EG when the price was $20k. the underlying support was around a few thousand
from november 2017 to date no one has taken the opportunity to sell below $5.800
this is because of a underlying value created by acquisition cost.
in those 10 months. over 65% of the community moved coins. yep 65% of all coins in circulation moved. and so those obtaining the coins when they moved hands then valued them at $5,800 or above...
mining costs curved. and is also now above $5,800. even with this summers cheaper mining rigs.
so thats alot of support not wanting to sell below $5,800
now there has been 10 months of opportunity to sell below 5,800.. no one is biting.
the VALUE, imagine it like a ground level water line.. or the water line of a bathtub people fear putting head under the water line because they can drown
the PRICE, imagine it like the waves above the water. or the bubbles of a bathtub. these can move and change all the time. people ride the waves and splash the water to create waves and stir things up to make bubbles.
its why they say the $20k PRICE was a bubble/tsunami because it flated too fast and didnt show rational reason for supporting such a high level and didnt have a good backing my a majority acquiring coins at such a high value to support it nor had mining costs accelerate to support keeping it up. and so it corrected down to more sensible levels. where the majority would refuse to sell below.
PoS coins have no underlying costs so those receiving coins from PoS would happily sell below any price/suport
again values of PoW coins are rising perpetually. but people are only looking at the tips of waves and bubbles and shouting its not perpetual.
they are not looking at the BOTTOM waterline that shows waterlevels growing slowly
