i have to point out another fundemental flaw in your economics understanding.

bitcoin never is, was or would be a commodity.

a commodity is a raw material that can be deemed as an equal quality to others of the same type. but is then used to create something. where the value is not derived from its production, but comes from the utility of what it can create. (the demand)

EG
wheat creates bread
oil creates car fuel
gold creates electronics and jewellry.

.. now then
bitcoins cannot be created into anything else.. bitcoin, if you knew much about economics is an asset. its value is based on its own merits of what it is, not what it can be manufactured into.

i think that the misconception that bitcoin is a commodity must be the analogy comparison to golds rarity.. which makes some believe bitcoin must be gold in every characteristic that gold has.

this is where it goes wrong..
although gold can sit as an asset, it is also a commodity as described above. bitcoin is not a commodity and is only an asset... to be more precise an digital asset currency.