Thanks for bringing the concept of velocity to attention. I'd been looking for a metric just like this to compare Bitcoin to other currencies. It would be inter

Thanks for bringing the concept of velocity to attention. I'd been looking for a metric just like this to compare Bitcoin to other currencies. It would be interesting now to compare the market cap of Bitcoin to currencies with similar velocity values. However, I think it would be really important to get a velocity value for Bitcoin only including transactions for goods and services, not including trading transactions with other currencies. Bitcoin's high velocity value could (and I suspect it does) just mean there is a lot of speculative trading going on and still very few real transactions in Bitcoin.