The velocity of electric and magnetic fields is calculated using the wave equation derived from Maxwell's equations, leading to the conclusion that electromagnetic waves propagate at the speed of light, approximately 299,792,458 meters per second. The discussion emphasizes that fields do not "move" in the traditional sense; instead, changes in the fields propagate at this speed. The relationship between electric and magnetic fields is highlighted, particularly how they induce each other according to Faraday's and Ampere-Maxwell laws. There is confusion regarding the concept of "velocity" in relation to fields, with some participants suggesting alternative terminology for clarity. Ultimately, the conversation underscores the complexity of calculating forces and velocities in dynamic electromagnetic systems, particularly in the context of inductance and time-varying fields.