# kaal:claim:3782205-027

**Claim.** An artificially scarce currency such as bitcoin is deflationary as long as its market expands, and like gold its price fluctuation makes it unsuitable for daily commerce.

**Type.** mechanism  **Support.** argued

**Holds when.**

- holds while the currency's market is expanding

**Source quote.**

> The artificially scarce bitcoin currency is deflationary as long as its market expands. Like gold, its fluctuation makes it unsuitable for daily commerce.

**From.** Craig Calcaterra, Wulf A. Kaal, *Eight Institutions for the Evolution of Decentralization* (2021), Chapter 9. Eight institutions, page 4

**Cite as.** Craig Calcaterra, Wulf A. Kaal, Eight Institutions for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782205

**Verify.** sha256 of source PDF `5ba52c63e81019b6867fb29c4a50821ff574e510d79b31b8ce9f4c726a0ebc71` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20Eight%20Institutions%20for%20the%20Evolution%20of%20Decentralization.pdf

**Topics.** tokenomics, economics

**Keywords.** stablecoin, bitcoin, deflation, price-volatility, commerce

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.