I can see what you're getting at (each person should aim to hold a specified value of bitcoins), but I think you also have to include the total number of bitcoins in circulation. So use daily BTC overall value (the value of all BTC minted to that day) / # of forum users.
Maybe that's what you did. I don't really understand the y-axis numbers and what they represent. If you divided $7.10 by 20,000 forum visitors, you're obviously not going to come up with a number around 2000.
Topic: A Bubble - page 2. (Read 3584 times)
[I'd delete this post if I could. It doesn't say much now. I had a post here saying we weren't in a bubble but I had a mistake on my spreadsheet. It now looks like we are. ]
I would argue that BTC price is essentially determined by the number bitcoin users there are. In order to be a bitcoin user you must hold bitcoins. This means each additional bitcoin user creates demand. It is of course hard to determine exactly how many bitcoin users there are so I'll assume it is proportional to the number of forum users. (This isn't exactly true since the number of forum accounts is strictly increasing but the userbase isn't necessarily but I think since it is so new we can ignore this)
Anyway this is a chart of (BTC Price*# of coins)/(# of forum users)
(If someone has another metric to use other than forum membership I'd be glad to plug that in also)
I would argue that BTC price is essentially determined by the number bitcoin users there are. In order to be a bitcoin user you must hold bitcoins. This means each additional bitcoin user creates demand. It is of course hard to determine exactly how many bitcoin users there are so I'll assume it is proportional to the number of forum users. (This isn't exactly true since the number of forum accounts is strictly increasing but the userbase isn't necessarily but I think since it is so new we can ignore this)
Anyway this is a chart of (BTC Price*# of coins)/(# of forum users)
(If someone has another metric to use other than forum membership I'd be glad to plug that in also)
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