kaal:claim:3402701-030

For any long-lived currency, a major shift in perceived value is eventually inevitable, and such a shift is not covered by reserves defending against hot money or by bonds defending against temporary economic instability.

For any long-lived currency a major shift in the perception of the value of a currency is at some point inevitable; a shift that is not accounted for by a reserve defending against hot money fluctuations or bonds defending against temporary instability in the larger economy

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019), 3.3 REPEGGING, p. 24
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

• long-lived currencies
• black swan events

predictivesupport: arguedfailure: black-swan-peg-breakfamily: valuation-and-pricing-failureinstitutional-design

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