Decided to revisit PlanB’s original 2019 stock-to-flow paper, and replicate his math. Instead of trying to dig up historical data, I found it easier to model bitcoin issuance as smooth, with uniform block times. PlanB’s original S2F equation: ln(marketcap) = 3.31954 * ln(stock/flow) + 14.6227
S2F model bumped to $70.6k at the 2020 halving, and rises to $82.8k before the projected 2024 halving.
Hard Work and Low Pay 