# Discounted cash flow

`kaal:entity:discounted-cash-flow`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `discounted-cash-flow`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 1 works, 2022 to 2022.

**2022**

- [4033886-020](https://wulfkaal.github.io/claims/4033886-020) [failure/argued] *(failure mode)* -- DCF currency translation breaks down for digital assets: no set discount rate or currency exchange forward curve exists for them, because they are not traded in exchange markets where closing prices are readily available and representative of fair value.
  > However, no such set discount rate or currency exchange forward curve is available for digital assets, as they are not traded in exchange markets where closing prices are readily available and representative of fair value.79
  Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886
- [4033886-036](https://wulfkaal.github.io/claims/4033886-036) [condition/argued] -- DCF appears at first glance unsuited to digital asset valuation because valuation is framed as pricing a token at a point in time, but it becomes applicable where networks return cash flows to token holders or to those who contribute work.
  > However, some digital asset networks do return cash flows to token holders or those who contribute work to the network. In such a case, DCF can shed light on the role of these structures in digital asset valuation.
  Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/discounted-cash-flow.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.