Your explanation of the stock-to-flow model provides a clear understanding of how analysts use it to assess Bitcoin scarcity and predict future price movements.

It's fascinating to see how this faceless model, much like Satoshi, calculates scarcity by considering the circulating supply and annual inflows of Bitcoin.

The concept of scarcity influencing price aligns with economic principles, making it a valuable tool for investors to make informed decisions. Thanks for breaking down the workings of the stock-to-flow model in a concise and informative manner.