replacement ceiling

Also: trough parity

A term proposed in the BYTES economics analysis (2026-07-29): replacement cost in its role as an arbitrage-enforced upper bound on the price of reproducible blockspace assets. It would replace BVT's "mint cost anchor". Non-reproducible (provenance) assets have none. Trough parity is the replacement cost at the cheapest fee window an arbitrageur can wait for.

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Blockspace Holdings records