Bitcoin whitepaper On-chain data
20142016201820202022202451002510002510k25100k
[0,0.125)[0.125,0.25)[0.25,0.5)[0.5,1)[1,2)[2,4)[4,8)[8,16)[16,32)[32,64)[64,128)[128,256)[256,512)[512,1024)[1024,2048)[2048,4096)[4096,8192)[8192, )r (realised)tsypruyanBitcoin linear composition of realised captsypruyan
Description: Bitcoin realised price function r could be presented as a linear composition: r=iIwiri, where wi - weight of class Ai, ri - realised price for class Ai, iI={3,2,,14}. Multiplying two parts of equation with a circulating supply we get a composition for realised cap. A set A of all bitcoin addresses presents a union of disjoint classes A=iIAi, where A3={aA:b(a)[0,0,125)}, Ai={aA:b(a)[2i1,2i)}, iI{3,14}, A14={aA:b(a)[213,21106]},, b(a) is a balance of address aA. Union i=3,2,1,0Ai is a set of sat addresses (their balance is less than one bitcoin). The weight wi of the class Ai,iI, is a ratio of the sum of balances of addreses in class Ai to a circulating supply. The weights are in the [chart], the supply distrubution (weights multiplied with the circulating supply) in Ai classes is in the [chart].
Bitcoin on-chain independent research project
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