kaal:claim:3782216-032

Determining what fraction of a currency is hot money is necessary for efficiently defending its stability: overestimating the hot money ratio makes the currency costlier to use, and underestimating it makes the currency insecure.

Therefore, determining the fraction of a currency that is hot money is necessary for efficient defense of its stability. A currency that overestimates this hot money ratio will cost more to use. A currency that underestimates the ratio will be insecure.

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021), Hot money
https://ssrn.com/abstract=3782216 · source PDF

Craig Calcaterra, Wulf A. Kaal, Decentralized Finance (DeFi) (2021). SSRN: https://ssrn.com/abstract=3782216

conditionsupport: arguedfailure: misestimated hot money ratiofamily: measurement-and-metric-failuretokenomicsconsensus-and-securityeconomics

• restates kaal:claim:3402701-024 Misestimating the hot money ratio fails in both directions: overestimation makes the currency more costly to u...
• extends kaal:claim:3402701-023 Determining what fraction of a currency is hot money is necessary for efficient defense of its stability, beca...
• extends kaal:claim:3402701-018 Because most of the value of contemporary cryptocurrencies comes from speculation on future uses that do not y...

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