Some Cursory thoughts
The S2f for gold is variable and not strictly decreasing (quite static over time) so I don’t know how good of models can be built on top of it.
Also the s2f of gold is a function of price/demand so it further complicates things (Low one year, higher the next, then back)- not so with BTC.
Does SF2 work for litecoin or bitcoin cash?
Supply based models don’t account for demand characteristics, and demand is based on if the coin is a good money.
So what good is a model that doesn’t account for half of what makes up the price?
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