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RE: Math-Based Fundamental Value Analysis Has Been Right About Bitcoin Bear Trend So Far - What Does it Tell Us About When Sustained Growth Will Return?
Good post. It's nice to see effort and thought put into content. I wish I could upvote you more than once.
Unique addresses is an interesting metric. It's not surprising that Metcalf's Law maps nicely onto the Bitcoin network. But it doesn't capture the whole picture as it is based on the number of potential connections in a network, not the actual connections. The number of unique addresses could be constant while the number of connections rises - a connection in this case being a transaction between two addresses. Maybe another interesting metric would be the number of unique address pairs? Or clusters, since you can have more than two addresses in a transaction.
Agreed about the potential of looking into such other connections, though admittedly those would take some time and a little more coding. The good thing is that for the first time, we actually have a transparent financial network that will allow us extract and analyze such data. And we are still looking into other metrices that would help the understanding of trends, behavior, and responses in such networks suing such metrices.
The transparency of the data is fantastic. It's exciting to see all the new ideas coming out of the data analytics side of the ecosystem!