kaal:claim:3402701-018

Because most of the value of contemporary cryptocurrencies comes from speculation on future uses that do not yet exist, the vast majority of cryptocurrency is technically hot money, and reserves are the best defense against the resulting price fluctuations.

Therefore the vast majority of cryptocurrencies are technically hot money. The best way to prevent price fluctuations due to hot money is to use reserves

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019), 3.1.2.2 Reserves, p. 19
https://ssrn.com/abstract=3402701 · source PDF

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019). SSRN: https://ssrn.com/abstract=3402701

• contemporary cryptocurrency markets dominated by speculation

mechanismsupport: arguedeconomics

• extended_by kaal:claim:3782216-032 Determining what fraction of a currency is hot money is necessary for efficiently defending its stability: ove...

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