# Market maturity `kaal:entity:market-maturity` **Status.** derived This node is assembled mechanically from the 8 claims that carry the concept tag `market-maturity`. 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 8 claims across 6 works, 2018 to 2022. **2018** - [3125827-020](https://wulfkaal.github.io/claims/3125827-020) [predictive/argued] *(failure mode)* -- The current dominance of altruists in the crypto space will not persist: once the crypto economy matures, an influx of hedgers and rent seekers can be anticipated with certainty, and they will exploit any weakness in the system for profit. > However, once the crypto economy is mature, we cannot assume users will continue to behave altruistically. We can anticipate, with certainty, an influx of hedgers and rent seekers who will quite naturally exploit any weakness in the system for profit. Craig Calcaterra, Wulf A. Kaal, Secure Proof of Stake Protocol (2018). SSRN: https://ssrn.com/abstract=3125827 - [3249860-032](https://wulfkaal.github.io/claims/3249860-032) [failure/argued] *(failure mode)* -- It is unclear whether the cryptocurrency market on its own can over time produce the level of stability and absence of volatility that cryptocurrencies need to become truly mainstream. > It is unclear if the cryptocurrency market alone will over time be able to create the level of stability and lack of volatility that is needed for cryptocurrencies to become truly mainstream. Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018). SSRN: https://ssrn.com/abstract=3249860 **2019** - [3411110-004](https://wulfkaal.github.io/claims/3411110-004) [condition/asserted] -- Legal certainty is a necessary condition for the maturation of blockchain securities trading; the technology alone will not carry it there. > Only by creating more legal certainty will blockchain security trading reach maturity. Wulf A. Kaal, Samuel Evans, Blockchain-Based Securities Offerings (2019). SSRN: https://ssrn.com/abstract=3411110 **2020** - [3606663-016](https://wulfkaal.github.io/claims/3606663-016) [failure/argued] *(failure mode)* -- Immature markets such as the market for digital assets in 2020 often cannot attract the institutional investors and venture capitalists who have sufficient operating experience in that market, which is a self reinforcing constraint on market development. > Immature markets, such as the market for digital assets in 2020 often cannot attract institutional investors and venture capitalists that have sufficient operating experience in that market. Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663 - [3606663-019](https://wulfkaal.github.io/claims/3606663-019) [mechanism/argued] *(failure mode)* -- Because the digital asset market has been so hype driven, technical experience has not added significantly to overall market development and maturity, leaving many top projects in 2020 still afflicted by unresolved technical issues. > Because the market has been so hype driven, technical experience has not added significantly to overall market development and maturity. Kaal, Digital Asset Market Evolution (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3606663 **2021** - [3949098-017](https://wulfkaal.github.io/claims/3949098-017) [failure/asserted] *(failure mode)* -- Because the cryptocurrency market has been hype driven, technical experience has not added significantly to overall market development and maturity. > Because the market has been so hype driven, technical experience has not added significantly to overall market development and maturity. Wulf A. Kaal, Reputation as Capital – How DAOs Upgrade Finance (2021). SSRN: https://ssrn.com/abstract=3949098 **2022** - [4033886-016](https://wulfkaal.github.io/claims/4033886-016) [empirical/asserted] *(failure mode)* -- As of 2022 there is no agreed upon reliable valuation method for cryptocurrencies. > An agreed-upon reliable valuation method does not exist for cryptocurrencies in 2022. Wulf A. Kaal, Samuel Evans, Hayley Howe, Digital Asset Valuation (2022). SSRN: https://ssrn.com/abstract=4033886 - [4033886-038](https://wulfkaal.github.io/claims/4033886-038) [predictive/speculative] -- As the cryptocurrency market matures, inflationary token models may become more popular, because they permit stability mechanisms and therefore more experimentation with volatility mitigation. > Several indicia seem to suggest that as the cryptocurrency market matures, inflationary token models may continue to become more popular. Inflationary token models allow the use of stability mechanisms, which may allow more experimentation with volatility mitigation. 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/market-maturity.md | sha256sum **Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.