I haven't watched his whole video but I don't know what he means by "willing" to let it go that far. It's not like they control the price lol.

Some people could buy it to try to prop it up, but that could go really wrong for them, I don't know who would care enough about the futures market to try to do that.

Futures market seems basically like a toy for a few traders.

Ya, it's tough for most miners to be profitable right now, so many of them are exiting, and because they exit, mining becomes less difficult (more slices of pie remain) and cheaper for the ones who keep at it.

It's self-balancing in that way. As Bitcoin price drops, there's pressure on miners to leave. As Bitcoin price rises, there's more room for more miners.

I've heard Max Keiser talk about mining cost as a floor for Bitcoin price and just totally don't agree.

At the end of the day there's just nothing any miner can do about it, other than turn off their rig, if people don't want to pay X amount for a Bitcoin.

So mining cost will dynamically rise and fall in step with Bitcoin price. But it's the wagon behind the horse. Its current cost doesn't create a floor that Bitcoin price couldn't fall thru. It's that if Bitcoin goes lower than that, miners have to leave.

::shrugs::