Metcalfe's law for bitcoin price

Metcalfe's law for bitcoin price

Here's an inline link to article

article

the square function number of users times the average transaction value. 94% of the bitcoin moved over the past four years is explained by that equation.

It does't make sense for me about a mathematical equation of 94% explained bitcoin price in this article.

If I'd like to predict a bitcoin price of following day using this equation, is this as following?

　　square function number of users × the average transaction value

　 　　　　 ↓
　　square number of unique addresses per day × (trade volume(USD) per day / number of transactions per day) 　　　　　　　　

　　　　　↓

604,054^2 × (597,502,689 / 271,995) = 801,644,073,110,452

date: 2017/11/14 00:00

Here's an inline link to [reference unique addresses (http://ift.tt/2ipbe10)

Here's an inline link to [reference trade volume] (http://ift.tt/2AQB2tL)

Here's an inline link to [reference transactions] (http://ift.tt/2ip7Pzr)

Answer is very huge number. Could someone explain that concretely where the wrong is?

Thank you

http://ift.tt/2ANi6vZ

Comments

Post a Comment

Popular posts from this blog

Antminer D3 Blissz Modified Firmware For Improved Performance

Image
Antminer D3 Blissz Modified Firmware For Improved Performance It is not a secret that the default firmware and even settings for many of the ASIC miners that come out from the manufacturers are hardly with the best/optimal settings and often they are also limited in what you can tweak yourself. So some more advanced users take the matter in their hands in order to further optimize for performance and or stability and reliability and even add extra features that help owners of the devices to get better profit or higher profit for example. One such case is the Antminer D3 Blissz Modified Firmware for the X11 ASICs being produces by Bitmain that you might want to give a try if you have even at least one of these ASIC miners. The custom firmware promises up to 20% lower power usage and some extra features such as ASIC voltage settings per chain as well as the ability to overclock or underclock per chain as well as more control on fan operational speeds. There are some usability improveme...
Read more

ETH To The Moon / Bank of England Cryptocurrency? / BTC Dominance / More (The Crypt0 Minute)

Image
ETH To The Moon / Bank of England Cryptocurrency? / BTC Dominance / More (The Crypt0 Minute) ►Please LIKE This Post On Steemit: http://ift.tt/2qkh4Yb Piano Instrumental By Omar Bham (Crypt0) 👍 Thank You Very Much For Watching This Video! Don't forget to smash those LIKE & SUBSCRIBE buttons :D 🎩►Become a Crypt0's News Patron: http://ift.tt/2vDXHXD ⛄►Check Out Our New Crypt0's News Amazon Storefront For Recommendations: http://ift.tt/2Br4nPB 🙇HELPFUL LINKS ►ICOs Raise One Billion Dollars In A Month: http://ift.tt/2A91Qow ►Huobi Is Now Headed To Japan: http://ift.tt/2Cbqk27 ►Verge Transaction IP Addresses: http://xvg.keff.org/ ►ScienceGuy's ETH Price Target: http://ift.tt/2CuwgGW ►Long Blockchain Corp: http://ift.tt/2BTmAFw ►Why 2018 Will Be The Year Of The Blockchain: http://ift.tt/2A2Krha ►Ethereum's Scalability Subsidy Program: http://ift.tt/2qgDNnS 🌌►Grab A Crypt0 T-Shirt: http://ift.tt/2khihd5 🚩🚩🚩A MUST HAVE ►Ledger Nano S (Top Multi-Asset Hardware Wal...
Read more