比特币的“刚需”构成及其论证  

The Rigid Demand Components of Bitcoin

作　　者：吴桐 陈泽[2] Wu Tong;Chen Ze

机构地区：[1]中央财经大学金融学院,北京100089 [2]清华大学经济管理学院,北京100086

出　　处：《中国西部》2018年第2期110-115,共6页Western China

摘　　要：互联网金融的发展、信息技术的进步以及后危机时代过于充裕的流动性环境催生了比特币。作为一种新兴金融产物,比特币在诞生后的短短九年时间里,经过数次强监管周期,仍然保持较高价格,背后是否有“刚性需求”的支撑?为解释这一现象,本文在总结文献和事实的基础上提炼出构成比特币“刚需”的去中心化、抗通胀性、匿名性、跨国交易方便、具有投机价值、避险性六个要素,对这些要素在事实上是否成立进行了分析论证,并结合现实有针对性地提出了政策建议。Bitcoin has been spawned with the development of internet finance and the advancement of information technology and the abundant liquidity in the post-crisis era.As a kind of new financial product,bitcoin has been still maintaining a relatively high price during the nine years since its birth although after several strict regulatory cycles.Is it because that bitcoin has rigid demand?This paper refines six elements of bitcoin's rigid demand which includes decentralization and anti-inflation and anonymity and convenience of cross-border transactions and speculative value and risk avoidance.The paper also analyzes whether the elements are actual in pratice and gives some policy recommendations.

关 键 词：比特币 刚需 去中心化 投机价值 

分 类 号：F831[经济管理—金融学]