Imagine GOLD would be evaluated on non-speculative way like you proposed for Bitcoin. Cost to mine.
Its just cost to produce, nothing related to ability to exchange it with something else. Its just indicator if your production is economically viable.
It already is. In most countries, there are anti-dumping laws preventing businesses from selling their products below producing/buying costs (with special exceptions like assets liquidation and so on). There are also minimum wages laws, taxes, etc.
If a company were to mine bitcoins, it would have to keep a proper accounting of expenses/wages/incomes and then they would not be able to sell below a specific price (not easily, anyway. They would have to invent some limited promotion, or file for bankrupcy...).
Excuse the truism, but there is no such thing as a free market. Not yet, anyway.
