Mining costs do have an impact on the price of coins!

There are two major misunderstandings about demand.

First, demand is need. In 2015, someone once told Brother Feng that real estate is demand. This is totally wrong. Demand is what consumers are willing and able to buy. Luxury goods merchants will not analyze the preferences of migrant workers because migrant workers are unable to buy luxury goods and have no demand for luxury goods.

Second, demand determines price. The first part of the introduction to economics is the intersection of the demand curve and the supply curve to get the equilibrium price, and the price will fluctuate around the equilibrium price.

Mining is on the supply side of POW coins (mainly BTC).

Popular science:

One of the two factors that affect the equilibrium price-the supply curve, is actually derived from the marginal cost curve.

The marginal cost curve is a U-shaped curve. As the output increases, economies of scale become increasingly obvious, and the marginal cost first decreases and then increases.

The short-term supply curve is actually the marginal cost curve of the rising part.

So, it can also be said that the supply curve is the marginal cost curve.

The latest mining cost of miners is the marginal cost. So the mining cost has an impact on the price of the currency.

Apart from the theory, the BTC that miners cost 0.0006 dollars (this number is just an example) can be used to buy pizza. But the BTC that costs 60,000 dollars, in order to make up for the marginal cost (mainly electricity, management expenses, etc.), they may sell it at 550,000 dollars, but at 50,000, 40,000 or even lower prices, they are probably unwilling to sell it.

The mining cost has a certain impact on the bottom of the currency price.