Agree, but bitcoin's "production cost is zero"... aka: bitcoin's floor is 0. Fact: Bitcoin is issued at zero cost in a block. Fact: Bitcoin Mining is defined as mining transactions aka adding blocks. You are connecting the two, which is either clueless or disingenuous. If mining drops, guess what? Difficulty drops. Total Mining Cost (hashrate * hash cost) follows price, not the other way around.(Dr. Julian Hosp)