Mises Wire
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In March 2019, the pseudonymous “PlanB,” who describes himself as a “former institutional investor with 25 years of experience in financial markets,” published a short article describing what he dubs the “stock-to-flow” (S2F) model of bitcoin pricing. Influenced by Nick Szabo on “unforgeable costliness” and Saifedean Ammous on S2F , PlanB’s