英文标题：
《Valuation, Liquidity Price, and Stability of Cryptocurrencies》
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作者：
Carey Caginalp and Gunduz Caginalp
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最新提交年份：
2018
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英文摘要：
  Cryptocurrencies are examined through the asset flow equations and experimental asset markets. Since tangible value of a typical cryptocurrency is non-existent, the theory suggests that price will gravitate toward liquidity value, i.e., the total amount of cash available for purchase of the asset divided by the number of units. Thus it is unlikely that cryptocurrencies in their current form will be stable in the absence of a mechanism of a link to value.
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中文摘要：
加密货币通过资产流方程和实验性资产市场进行检验。由于典型加密货币的有形价值不存在，该理论表明，价格将趋向于流动性价值，即可用于购买资产的现金总额除以单位数量。因此，在缺乏与价值挂钩的机制的情况下，当前形式的加密货币不太可能保持稳定。
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分类信息：

一级分类：Quantitative Finance        数量金融学
二级分类：Mathematical Finance        数学金融学
分类描述：Mathematical and analytical methods of finance, including stochastic, probabilistic and functional analysis, algebraic, geometric and other methods
金融的数学和分析方法，包括随机、概率和泛函分析、代数、几何和其他方法
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一级分类：Computer Science        计算机科学
二级分类：Cryptography and Security        密码学与安全
分类描述：Covers all areas of cryptography and security including authentication, public key cryptosytems, proof-carrying code, etc. Roughly includes material in ACM Subject Classes D.4.6 and E.3.
涵盖密码学和安全的所有领域，包括认证、公钥密码系统、携带证明的代码等。大致包括ACM主题课程D.4.6和E.3中的材料。
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