In this analogy, gold would be compute. So the more accurate analogy, would be that there's plenty of gold underground, and there's plenty demand for it (as of now), it's that extracting it is so expensive that we might go broke before we can get the gold out.
And the point I'm making, is that shovels are sold at min. 5x markup, and the shovel company (Nvidia and others) has no interest in seeing the market collapse, and is willing to use its generous profits to prop it up.
And the point I'm making, is that shovels are sold at min. 5x markup, and the shovel company (Nvidia and others) has no interest in seeing the market collapse, and is willing to use its generous profits to prop it up.