Counterpoints: Gold has been money for thousands of years. Cash is a $100 trillion market cap. Bitcoin is hardly 15 years old and barely over $1 trillion. Gold and cash are private and fungible like Monero. Bitcoin isn't. You can't directly audit circulating supply for gold or cash either. Doesn't stop them from being valuable and having massive mcaps. Monero has less inflation (3coins/10min vs 3.125coins/10min) and less circulating supply (18.4mil vs 19.7mil) than even Bitcoin right now Less annual inflation than gold. And since it is a reward is a constant, inflation in terms of % is constantly falling. If you want to audit then run a node like you do with Bitcoin. You wan't us to believe even a fraction of bitcoiners are combing through input/outputs of 1billion+ transactions on Bitcoin? They just run a node and don't even pay attention. More scarce doesn't necessarily mean more valuable either. Value is subjective. You can control supply, but can't control demand. The market is a constant discovery process.

GitHub

Scarcity Fallacy

Bitcoin Cross-Platform C++ Development Toolkit. Contribute to libbitcoin/libbitcoin-system development by creating an account on GitHub.