It’s Not Up to Facebook to Decide What Libra Is, Ex-CFTC Advisor Says “Is it a security? Is it a commodity pool? Is it a payment token? Is it a utility token? It’s a particularly […]
We formalize ₿ = ∞/21M as a boundary condition in monetary economics, deriving finite-supply equilibria with testable implications for price formation, intertemporal allocation, and rational expectations.