Peter Smith
Timothy Peterson believes that the adaptation of Bitcoin is similar to the adaptation of the Internet in the early 2000s. He compared the graph, which is based on Metcalf's law.
What is Metcalf's law?
Metcalf's law states that the utility of a network is proportional to half the square of the number of users in this network ≈n2/2. This is due to the fact that the number of unique connections in a network with the number of nodes (n) can be mathematically expressed in a triangular number n(n − 1)/2, which asymptotically approaches n2/2.
What does this law show?
This law was first formulated by Robert Metcalf in relation to Ethernet. The law describes such a concept as a network effect and is used in multi-level network marketing, social media, and marketing as such.
Peter Smith
