By "dividing $1.00 by the average amount of electricity required to run a computer with high CPU for a year, 1331.5 kWh, multiplied by the average residential cost of electricity in the United States for the previous year, $0.1136, divided by 12 months divided, by the number of bitcoins generated by my computer(*) over the past 30 days".
It is interesting to know how the price of Bitcoin was fixed at its early stage. It is evident that the amount of electricity consumption has been in consideration from day one. Even till date, the energy consumption of bitcoin is still in high consideration. However, other factors that determines price are in place such as; speculations, miners activities, trading activities etc. But, it will be interesting to understand that the initial formula of determining bitcoin price is still in existence. Maybe the mathematics is now complicated, but am not sure that it's totally abandoned.