The stable price is where the value created by bitcoin network is equal to the costs of running the whole network. And at least one of those two is dependent on bitcoin price. So just try to estimate those two numbers and compare them.
That is just not true. Search your feelings and you know it. Is the price of 100 dollar bill same as the cost of printing one? No it is not and it is same with Bitcoin.
Can you be more specific at what exactly is not true.
The cost of running the network is not dependent on the cost of creating early bitcoins. Those were very cheap. The cost is dependent on the current market price.
That myth is debunked here:
https://en.bitcoin.it/wiki/Myths#The_value_of_bitcoins_are_based_on_how_much_electricity_and_computing_power_it_takes_to_mine_themAh, yes, but I didn't say that.
I said that the cost of running the network is dependent on the market price. Let me draw it for you:
(electricity to generate) ---> bitcoin value NOT THIS ONE
bitcon price ---> cost of running the network THIS ONE
See, those two are not the same statements. Your link is debunking the fist one, quite correctly. I said the second one.
From the link:
"In fact the causality is the reverse of that (this applies to the labor theory of value in general). The cost to mine bitcoins is based on how much they are worth. If bitcoins go up in value, more people will mine (because mining is profitable), thus difficulty will go up, thus the cost of mining will go up. The inverse happens if bitcoins go down in value. These effects balance out to cause mining to always cost an amount proportional to the value of bitcoins it produces."
The "cost to mine" is probably a major part of cost of running the whole network.
