Bitcoin production rate
(Bitcoin Production Condition:) Suppose that the aggregate quantity A t of additionally mined Bitcoins in period t is strictly positive. Given the processes 7 for Q t + 1, P t + 1, y t + 1, the equilibrium Bitcoin production effort e t, j = e ¯ t > 0 is the unique solution to (10) h ′ (e ¯ t) = β E t [u ′ …