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| Title: | 影響加密貨幣市場的短期及長期因素
The determinants of cryptocurrency market in short-run and long-run |
| Authors: | 簡嘉宏
Jian, Jia-Hung |
| Contributors: | 林柏生
Lin, Po-Sheng
簡嘉宏
Jian, Jia-Hung |
| Keywords: | 加密貨幣
比特幣
Cryptocurrency
Bitcoin
ARDL |
| Date: | 2018 |
| Issue Date: | 2018-07-13 15:12:38 (UTC+8) |
| Abstract: | BitCoin誕生於2008年金融海嘯，BitCoin剛出現時並沒有受到太多人的關注，直到2013年開始，BitCoin價格成長快速，使許多投資人開始購買BitCoin，同時BitCoin具有去中心化的優點，被認為是取代政府所發行法幣的下一種貨幣，因此許多人開始相信BitCoin是未來的貨幣，而且有區塊鏈的加密技術，使人們更相信BitCoin的安全性。但由於BitCoin價格波動太大，導致許多人質疑他是否是貨幣，同時許多原本接受BitCoin的店家開始拒絕使用BitCoin，因此有很多相關文獻在探討BitCoin是否是貨幣，也有很多文獻探討哪些因素影響BitCoin的價格。
本文主要是探討加密貨幣市場主要是受到國際經濟因素的影響，還是受到公眾關注度影響，進而影響加密貨幣市值增加或下降，同時本文將加密貨幣市場分為使用 PoW (Proof-of-Work)及不使用PoW的加密貨幣，除了分析兩者的關係之外，也分析經濟因素及公眾關注度對兩者的影響。經濟因素和公眾關注因素都對PoW加密貨幣及非PoW加密貨幣市值有長期均衡關係，而且兩者市值有長期均衡關係。
BitCoin was born in the 2008 financial crisis. BitCoin didn`t get much attention when it first appeared. Until 2013, BitCoin`s price grew rapidly, and many investors started to buy BitCoin. At the same time, BitCoin has the advantage of decentralization. It is the next currency to replace the government-issued fiat money, so many people are beginning to believe that BitCoin is the future currency, and there are blockchain encryption technologies that make people believe in the security of BitCoin. However, due to the price fluctuations of BitCoin, many people questioned whether it was a currency or not. At the same time, many shops that originally accepted BitCoin began to refuse to use BitCoin. Therefore, there are many related papers to discuss whether BitCoin is a currency, and there are many papers to discuss what affect Bitcoin`s price.
This paper mainly discusses whether the cryptocurrency market is mainly influenced by international economic factors, or whether it is influenced by public attention, and then affects the increase or decrease of the cryptocurrency market value. This paper also divides the cryptocurrency market into PoW (Proof-of-Work) and non-PoW cryptocurrencies. In addition to analyzing the relationship between them, we analyze the impact of economic factors and public attention on them. Both economic factors and public concerns have a long-run relationship between the market value of PoW cryptocurrencies and non-PoW cryptocurrencies, and there is a long-run relationship between PoW cryptocurrencies and non-PoW cryptocurrencies. |
| Reference: | 英文文獻
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中文文獻
1. 陳旭昇. (2013). 時間序列分析: 總體經濟與財務金融之應用: 臺灣東華.
網路資料
1. 陳翠，比特幣挖礦機耗電量_挖比特幣為什麼費電，上網日期: 2017年12月23日，檢自: http://www.elecfans.com/xinkeji/606911.html
2. Alex de Vries，BitCoin Energy Consumption Index，上網日期: 2018年4月15日，檢自: https://digiconomist.net/bitcoin-energy-consumption |
| Description: | 碩士
國立政治大學
國際經營與貿易學系
105351035 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0105351035 |
| Data Type: | thesis |
| DOI: | 10.6814/THE.NCCU.IB.017.2018.F06 |
| Appears in Collections: | [國際經營與貿易學系 ] 學位論文
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