🚨 Bitcoin does NOT follow a Power Law... when you use Genesis as your start point. But it does, at two different dates. Check the table. The projections make a ton of sense. But the question is: where is the TRUE Bitcoin power law? The median (trend value) or the 1st quantile floor? My current working hypothesis is that it's the floor that contains the true power law. Cost of production follows a power law, which makes logical sense because hash rate growth also follows a power law. So the floor is where the power law lives, and all other quantiles decay towards it, with higher quantiles decaying faster.