Re:Bitcoin Sees Wall Street Warm to Trading Virtual Currency
by dragonwriter on Wednesday May 09, 2018 @09:59PM
(#17035892)
> Do you accept that the following line is nominally linear?
> 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.)
> 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.)