Forced to sell at a higher price?
My dreams of being a millionaire are forcing me to sell this orange for a million dollars. Ergo, oranges will now retail for a million dollars.
My dreams of being a millionaire are forcing me to sell this orange for a million dollars. Ergo, oranges will now retail for a million dollars.
If there were only 12 oranges produced on all the trees in the world every hour & it cost $500 an hour to operate your orange farm. You therefore have to sell your oranges for at least $42 to cover costs and make a small income
However now there are only 6 oranges produced every hour (not 12), what can you do to maintain profitability?
Bitcoin production is perfectly inelastic, and Bitcoin itself has no consumption value. You need a different analogy.