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by hhjj 1797 days ago
Maybe he should try with prices in yen...
3 comments

With a fixed exchange rate, the choice of currency does not matter for Benford’s law.

Benfords’s law states that for many real-life numbers x, log(x) is uniform.

Converting to another currency using exchange rate E, so that y = E*x, yields log(y) = log(E) + log(x). This corresponds to a shift of the distribution of log(x) and does not change how uniform the distribution is.

However, if the exchange rate varies with prices, then it will matter.

The currency against which BTC is exchanged the most is very likely the one that shows the best fit (most perfect market). Assuming that currency is the USD I expect any other currency would result is an even worst fit
Presumably yen, being a smaller unit of money, would have the prices spread out over more logs. So Benford's law might be a better fit.
That’s not how logarithms work
A yen is nearly the same as a penny. Does BTC trade in small fractions of yen?
There are other problems with the article but currency exchange shouldn’t substantially affect the distribution.