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I think the metric relies on the fact that people rarely move coins from one place to another unless they are spending them, or plan to spend them soon, or just received them from somebody else. As long as this is the case, then the metric is valid.
If I randomly transfer bitcoins from one address to another, then it throws off the days-destroyed metric, since those were not spent but the metric still measures them as spent coins.
If I randomly transfer bitcoins from one address to another, then it throws off the days-destroyed metric, since those were not spent but the metric still measures them as spent coins.
You don't have to assume that this doesn't happen, you just assume it isn't correlated with anything. Which still isn't right, but I don't think there is reason to believe people are moving them for no reason any MORE than they were last month.
