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by DINKDINK
2964 days ago
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>> Do you accept the fact that time is the only input for the supply function? >No. Do you accept that the following line is nominally linear?
https://blockchain.info/charts/total-bitcoins?timespan=1year If you do, then you must accept that time is the only input to the supply function. If you don't, supply a source to show what variable you think is correlated to the change in bitcoin. The data indicates, time alone. |
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> If you do, then you must accept that time is the only input to the supply function.
Er, no, even assuming the omitted x-axis is linear, I don't. The other inputs being relatively constant or having variation which mostly cancelled out each other's effects over a one year period is indistinguishable, on such a chart, from time being the only input. (Plus, the implicit function to which time would hypothetically be the only input isn't a supply function, which is a mapping from price to quantity people are willing to sell.)