Abstract
Attempts to accurately measure the monetary velocity or related properties of bitcoin used in transactions have often attempted to either directly apply definitions from traditional macroeconomic theory or to use specialized metrics relative to the properties of the Blockchain like days destroyed. In this paper, it is demonstrated that beyond being a useful metric, days destroyed has mathematical properties that can allow you to calculate the average dormancy (time since last use in a transaction) of the bitcoins used in transactions over a given time period. This metric both gives an additional, surprising view of the bitcoins being used as well as allows us to realize that days destroyed has other, more unexpected meanings by virtue of the expression, Little's Law, though only under limited conditions.
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