A signaling theory model of cryptocurrency issuance and value

[Updated and cleaned up 2018.10.09] One argument often brought up by single-cryptocurrency maximalists is that if creating new cryptocurrencies becomes legitimate, then it will be possible to print new cryptocurrencies into existence at near-zero cost, causing cryptocurrency as a whole to hyperinflate and lose value. To prevent this possibility, the argument goes, we must establish a very strong norm that the currently dominant cryptocurrency is the only legitimate cryptocurrency, putting it in...

A signaling theory model of cryptocurrency issuance and value - Economics - Ethereum Research A signaling theory model of cryptocurrency issuance and value Economics vbuterin February 14, 2018, 7:45am 1 [Updated and cleaned up 2018.10.09] One argument often brought up by single-cryptocurrency maximalists is that if creating new cryptocurrencies becomes legitimate, then it will be possible to print new cryptocurrencies into existence at near-zero cost, causing cryptocurrency as a whole to hyperinflate and lose value. To prevent this possibility, the argument goes, we must establish a very stron

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