The Diminishing Marginal Utility of Gold

He said there's no diminishing marginal utility for gold as if it has a magic property. He conflates supply and value, where price is just the marginal clearing price for supply and demand. The market works to have to find the right amount of supply coming to new supply come to market to meet the demand. And that same process will work with Bitcoin. This is not an inflationary degradation, it's a deflationary degradation.