Cointime-adjusted inflation
how much new supply really dilutes the tradeable float
Ordinary inflation asks what share of all bitcoin is new. This asks what share of the bitcoin that actually trades is new, which is the number that matters if most coins never move.
DefinitionAnnualised issuance divided by the ACTIVE float: nominal inflation x (supply / active supply). This is our bounded variant and the default line; ARK's published formula is charted beside it as a separate series.
LimitProvisional. It inherits the trailing-year issuance window, which no source specifies. Rob chose this variant over ARK's because it stays on the same scale as nominal inflation, which is what "dilutes the tradeable supply" means in words. Being corrected: this is built on active or vaulted supply, which the pipeline derived from the coinblocks liveliness while the published liveliness is coin-days. The gap averages 74,759 BTC of active supply, a median of 0.8%. The rebuild onto coin-days is under way and this caveat retires with it.