5 ms·
Maybe he should try with prices in yen...
by hhjj 5y ago
Maybe he should try with prices in yen...
- Gys 5y agoThe 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
- Metacelsus 5y agoPresumably 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.
- alisonkisk 5y agoA yen is nearly the same as a penny. Does BTC trade in small fractions of yen?
- malf 5y agoThat’s not how logarithms work
- zeckalpha 5y agoThere are other problems with the article but currency exchange shouldn’t substantially affect the distribution.
- fungizid 5y agoWith 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.