Bitcoin’s Growth — Metcalfe’s Law and the Lindy Effect

Metcalfe’s Law and Bitcoin

Rick Mulvey
Sep 9, 2021 · 5 min read

Metcalfe’s Law states that the value of a network is proportional to the square of the number of connected users in the system. Damn, talk about exponential growth! This week I explore how this relates to the growth of Bitcoin, both in users and in price.

Metcalfe’s Law, named for Robert Metcalfe, the inventor of ethernet, attempts to quantify the increase in value of a network based upon the growth in its users. (The law was named by George Gilder, publisher of Gilder…