The marginal cost of mining, Metcalfe's law and cryptocurrency value formation: causal inferences from the instrumental variable approach

by Osiris Team


Posted on Aug. 5, 2019, 2:47 p.m.
Research
Time to read: 2 min
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The Osiris team and the colleagues from the University of Northumbria at Newcastle tested commonly cited simplistic theories of cryptocurrency pricing, namely, cost-based model and Metcalfe’s law, using causal inferences from the instrumental variables approach on block-level data for six proof-of-work coins.

Read the full paper on SSRN by clicking the link down below.


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