a) > If value of a commodity is predicated on scarcity No economist would say the value of anything is based on scarcity. Scarcity is basically a code word for

a) > If value of a commodity is predicated on scarcity No economist would say the value of anything is based on scarcity. Scarcity is basically a code word for supply. The value of things is determined by the intersection of supply and demand, not supply floating in a vacuum. b) > If value of a commodity is predicated on scarcity - eg gold - then isn’t it the case that Bitcoin is actually using energy as the scarce commodity on which its value is based? What are you even trying to say here? Do we say cars are subject to some impossible contadiction because they consume energy? Do we say the heater in your home is valueless because it consumes energy? Do we say your bank is somehow invalid because it's operations consume energy? What does any of this have to do with the fact that bitcoin doesn't have an unlimited supply (ie is scarce)? This is complete gibberish.