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Instead, think of it this way. If a coin wins, it must necessarily be 100-10000x larger to "hold" the value of the monetary supply. If there's a 20% chance of "
by ericb 8y ago
Instead, think of it this way. If a coin wins, it must necessarily be 100-10000x larger to "hold" the value of the monetary supply. If there's a 20% chance of "some coin winning" and you have 10 equally probable suspects, each of those suspects has a value of 1/10 of some portion of M1 * 0.20 probability.