比特币安全的经济依赖性
The economic dependency of the Bitcoin security
摘要：
我们研究比特币区块链安全性在多大程度上永久依赖于加密货币市场结果的潜在分布。我们使用2014-2019年的每日区块链和比特币数据，并采用ARDL方法。我们测试了三个均衡假设：（i）比特币区块链对挖矿奖励的敏感性;（ii）比特币区块链的安全性结果和工作量证明成本;（iii）比特币区块链安全性对偏离均衡路径的调整速度。我们的结果表明，比特币价格和挖矿奖励与比特币安全性结果存在内在联系。比特币区块链安全性对采矿成本的依赖在地理上是不同的-这对全球采矿领导者中国来说比世界其他地区更重要。在输入或输出价格冲击之后，比特币区块链安全性恢复到其均衡安全水平。
英文摘要：
We study to what extent the Bitcoin blockchain security permanently depends on the underlying distribution of cryptocurrency market outcomes. We use daily blockchain and Bitcoin data for 2014-2019 and employ the ARDL approach. We test three equilibrium hypotheses: (i) sensitivity of the Bitcoin blockchain to mining reward; (ii) security outcomes of the Bitcoin blockchain and the proof-of-work cost; and (iii) the speed of adjustment of the Bitcoin blockchain security to deviations from the equilibrium path. Our results suggest that the Bitcoin price and mining rewards are intrinsically linked to Bitcoin security outcomes. The Bitcoin blockchain security's dependency on mining costs is geographically differenced - it is more significant for the global mining leader China than for other world regions. After input or output price shocks, the Bitcoin blockchain security reverts to its equilibrium security level.
机构、总结、中文摘要均由AI分析而来，可能存在错误，请以论文正文为准。
