Demand and utility are way more important than scarcity.
Imagine having an item that is super scarce, but the utility of that item is zero, therefore the demand for this particular item would be zero as well.
The price of the item will be zero, and the scarcity simply won't make this item valuable. A zero that's multiplied by a million is still a zero.
Gold might be less scarce than Bitcoin, but the demand for gold is way bigger compared to the Bitcoin demand. Gold has utility, because it's being used as a raw material by many industries.
Bitcoin will be fine in the long term. I expect massive bull runs in the upcoming years. There's no need to compare Bitcoin scarcity to Gold scarcity in order to prove a point.
Can’t agree with this one! The factor responsible for both gold and bitcoin is their demand. It is responsible for the increase in value of both. Bitcoin is a potential coin in the long run.