True that but you are forgetting that PoW coins get their value from amount of money invested in obtaining them from digital
ground. Just like gold or silver in real world, price is bound to the costs of mining the resource. No one in the right mind will
pay 1,000 USD for something that costs 1 USD to be created.
That's true. If something costs 1 USD to produce, then it's worth somewhat close to 1 USD.
It's important to note though that what matters is how much it costs right now, not yesterday or one year ago.
For example, one year ago it was much cheaper to produce 1 BTC than it is right now. However, the cost of every BTC (even those produced 3 years ago) goes according to the cost of producing it now.
So, how much does it cost to produce 1 PMC
right now? It's very difficult to say considering it's impossible to create new coins now.
It's going to be very hard to say until at least we have some network consistency. It's even hard to calculate such things with Bitcoin now thanks to ASICs.
I've generated 0.2 PMC on 1.2 ghash/sec after a few hours. Until there are more transactions and steady tx fees, it's very hard to calculate. It's odd, really. I've made 0.2 PMC and it seems quite a lot due to the scarcity of mining it, but it also seems a lot less when I consider my stake of a few thousand.
So it depends on your perspective as well. When it becomes really scarce, a couple of PMC could be a valuable thing to have. Those small holders now could create a lot of market activity if the price went high enough, and by that point most people would have dumped.
Remember, people dumped Bitcoin in the early days, too. We shouldn't be too worried about that.
