You are partially correct here. Your first point explains how proof of work consensus mechanism works with #Bitcoin (and its other forks) and how its value is derived from the scarcity and security. The block rewards are halved every ~4 years and the more miners particiapte, the higher the mining dificulty gets.

🚫 But that is NOT the case with the rest of the blockchains. 
☑️ #Ethereum is a proof of stake that innovated the space by introducing smart contracts. The PoS nature drastically reduced the energy consumption and cost compared to PoW. But this doesn't mean reflect on Ethereum's appreciation price.
☑️ The market's price often reflects speculative behavior rather than these intrinsic values (security and/or cost)

✅ You can now build tokens that once deployed creates the FULL token supply off the bat (unless deisgned otherwise).

☝️People don't buy a token on #Ethereum or on #Solana or on #PulseChain because they know it is secure or more decentralised than the other...

Fun fact, Solana has around ~3,400 validators compared to Ethereum's ~806,000 validators✨

^this doesn't translate to the fact that Solana had the greatest appreciation with $25B in 24 hour volume, compared to Ethereum's $3.5B 24 hour volume.
^Also Solana has $173B in total value locked compared to Ethereum's $11B in TVL.

📣 I would also argue that majority of traders and investors are buying and selling Bitcoin and other assets based on the FOMO. The charts that you see are people trading their emotions.
☑️But in the background 1 $BTC will always be 1 $BTC
^So the price tag of Bitcoin right now is totally irrelevant to how secure the blockchain is.

💯 Majority of retail investors are actually non-believers and they are not here for the tech (unforunately)

Fun fact that Bitcoin's top 0.1% of miners account for 50% of the mining capacity.. which isn't as decentralised as you think it is (concentrated). 
🛡️ Though, I do believe it won't experience a 51% attack. 
- Bitcoin also had 2 inflation bugs in the past (2010, and 2013)

I hope this helps 👍
#Bitcoin #Ethereum #Ethereum #Solana #PulseChain #BTC #BTC