{"id":2234,"date":"2023-04-28T11:00:22","date_gmt":"2023-04-28T03:00:22","guid":{"rendered":"http:\/\/econ.wp.shu.edu.tw\/?p=2234"},"modified":"2023-04-28T11:01:43","modified_gmt":"2023-04-28T03:01:43","slug":"%e4%ba%94%e6%9c%88%e4%bb%bd%e7%9c%8b%e6%9d%bf%e4%ba%ba%e7%89%a9-%e6%9e%97%e7%8e%ab%e5%90%9f%e5%89%af%e6%95%99%e6%8e%88","status":"publish","type":"post","link":"https:\/\/econ.wp.shu.edu.tw\/?p=2234","title":{"rendered":"5\u6708\u4efd\u770b\u677f\u4eba\u7269\u2014\u6797\u73ab\u541f\u526f\u6559\u6388"},"content":{"rendered":"<p><span style=\"color: #000080;font-size: 14pt\"><strong>21 \u4e16\u7d00\u7684\u9ec3\u91d1\uff1a\u6bd4\u7279\u5e63<\/strong><\/span><\/p>\n<p>\u8fd1\u5e74\u4f86\uff0c\u96a8\u8457\u91d1\u878d\u79d1\u6280\u7684\u767c\u5c55\uff0c\u5927\u91cf\u7684\u8ca8\u5e63\u5275\u65b0\u8207\u65b0\u578b\u7684\u652f\u4ed8\u578b\u614b\u63a5\u7e8c\u800c\u751f\uff0c\u7531\u6b64\u5168\u7403\u6380\u8d77\u4e86\u4e00\u80a1\u6578\u4f4d\u7d93\u6fdf\u7684\u6d6a\u6f6e\u3002\u800c\u5728 2009 \u5e74 1 \u6708\u8a95\u751f\u4e86\u7b2c\u4e00\u500b\u61c9\u7528\u5340\u584a\u93c8\u6280\u8853\u3001\u5177\u6709\u53bb\u4e2d\u5fc3\u5316 (decentralized) \u7279\u6027\u7684\u52a0\u5bc6\u8ca8\u5e63 (cryptocurrency)\uff0d \u6bd4\u7279\u5e63 (Bitcoin) \u4e4b\u5f8c\uff0c\u4e16\u754c\u4e0d\u540c\u5e02\u5834\u5feb\u901f\u51fa\u73fe\u4e86\u5404\u7a2e\u52a0\u5bc6\u8ca8\u5e63\uff0c\u52a0\u5bc6\u8ca8\u5e63 \u582a\u7a31\u8fd1 10 \u5e74\u4f86\u6700\u53d7\u77da\u76ee\u7684\u91d1\u878d\u5546\u54c1\u3002Coinmap (<a href=\"https:\/\/coinmap.org\/\">https:\/\/coinmap.org<\/a>) \u4f7f\u7528\u958b\u653e\u5167 \u5bb9\u7684\u5171\u7de8\u5730\u5716\u986f\u793a\uff0c\u5168\u4e16\u754c\u6709\u8a31\u591a\u5be6\u9ad4\u5546\u5bb6\u8207\u7db2\u8def\u5546\u5e97\u63a5\u53d7\u52a0\u5bc6\u8ca8\u5e63\u70ba\u6e05\u7b97\u5de5\u5177\uff0c\u52a0\u5bc6\u8ca8\u5e63 ATM \u4e5f\u51fa\u73fe\u5728\u5927\u57ce\u5e02\u4e2d\u3002\u7531\u6b64\u53ef\u898b\uff0c\u52a0\u5bc6\u8ca8\u5e63\u4e0d\u50c5\u662f\u4e00\u500b\u6295\u8cc7\u7684\u5de5\u5177\uff0c \u540c\u6642\u4e5f\u53ef\u626e\u6f14\u652f\u4ed8\u7684\u5a92\u4ecb\uff0c\u96a8\u8457\u7db2\u8def\u7684\u666e\u53ca\uff0c\u52a0\u5bc6\u8ca8\u5e63\u5c07\u6210\u70ba\u672a\u4f86\u6642\u4ee3\u7684\u4e3b\u6d41\u3002<\/p>\n<p>\u6839\u64daCoin Market Cap (<a href=\"https:\/\/coinmarketcap.com\/\">https:\/\/coinmarketcap.com<\/a>) \u7684\u8cc7\u8a0a\uff0c\u81f32023 \u5e744 \u6708\u5e95\uff0c\u5168\u4e16\u754c\u5df2\u6709\u8d85\u904e 23,500 \u7a2e\u52a0\u5bc6\u8ca8\u5e63\uff0c\u7e3d\u5e02\u503c\u7d04 1 \u5146\u7f8e\u5143\uff0c\u76ee\u524d\u5e02\u503c\u6700\u591a\u7684\u56db\u7a2e\u52a0\u5bc6\u8ca8\u5e63\u5206\u5225\u70ba\u6bd4\u7279\u5e63 (Bitcoin)\u3001\u4ee5\u592a\u5e63 (Ethereum)\u3001\u592a\u9054\u5e63 (Tether)\u3001\u5e63\u5b89\u5e63 (BNB)\uff0c\u5176\u4e2d\u6bd4\u7279\u5e63\u7684\u5e02\u503c\u5360\u6240\u6709\u52a0\u5bc6\u8ca8\u5e63\u7e3d\u503c\u7d04 45%\uff0c\u56e0\u6b64\u6bd4\u7279\u5e63\u53ef\u4ee5\u8aaa\u662f\u6574\u500b\u52a0\u5bc6\u8ca8\u5e63\u4e2d\u6700\u5177\u4ee3\u8868\u6027\u7684\u8ca8\u5e63\u3002\u7136\u800c\uff0c\u6bd4\u7279\u5e63\u5f9e 2009 \u5e74\u767c\u884c\u4ee5\u4f86\uff0c\u50f9\u683c\u6b77\u7d93\u6f32\u8dcc\u5faa\u74b0\u9707\u76ea (\u898b\u5716 1)\uff0c\u5f9e 2011 \u5e74\u958b\u59cb\u4e0d\u505c\u7684\u4e0a\u6f32\uff0c\u5728 2017 \u5e74 12 \u6708\u9054\u5230\u6bcf\u55ae\u4f4d\u5c07\u8fd1 20,000 \u7f8e\u5143\u7684\u9ad8\u5cf0\uff0c2018 \u5e74\u537b\u4e00\u8def\u72c2\u8dcc\u81f3\u6700\u4f4e\u8fd1 3,100 \u7f8e\u5143\uff0c\u4e00\u5e74\u5167\u8dcc\u5e45\u8d85\u904e 80%\uff1b\u5f9e 2021 \u5e74\u958b\u59cb\uff0c\u53c8\u7d93\u6b77\u5e7e\u6bb5\u50f9\u683c\u7684\u9707\u76ea\uff0c2021 \u5e74 4 \u6708\u6bd4\u7279\u5e63\u50f9\u683c\u9054\u5230\u9ad8\u5cf0\u7d04 63,000 \u7f8e\u5143\uff0c\u540c\u5e74 7 \u6708\u8dcc\u81f3 32,000 \u7f8e\u5143\uff0c\u65bc 11 \u6708\u6642\u6bd4\u7279\u5e63\u50f9\u683c\u8d85\u904e 65,000 \u7f8e\u5143\uff0c\u9054\u5230\u76ee\u524d\u6b77\u53f2\u6700\u9ad8\u9ede\uff0c\u4f46\u96a8\u4e4b\u50f9\u683c\u4e0b\u8dcc\uff0c\u81f3 2022 \u5e74 12 \u6708\u7d04\u70ba16,000 \u81f3 17,000 \u7f8e\u5143\u3002\u6709\u95dc\u65bc\u6bd4\u7279\u5e63\u50f9\u683c\u6ce1\u6cab\u5316\u7684\u9810\u8a00\u4e00\u76f4\u4e0d\u65b7\u51fa\u73fe\uff0c\u4f46\u5e02\u5834\u4e0a\u4ecd\u6709\u8a31\u591a\u6bd4\u7279\u5e63\u7684\u6295\u8cc7\u611b\u597d\u8005\uff0c\u6bd4\u7279\u5e63\u7684\u50f9\u683c\u5287\u70c8\u9707\u76ea\u5f71\u97ff\u5176\u6210\u70ba\u4e3b\u6d41\u8ca8\u5e63\u7684\u53ef\u80fd\u6027\uff0c\u4f46\u537b\u4ee3\u8868\u5176\u6f5b\u85cf\u8457\u9245\u984d\u7684\u6295\u8cc7\u6a5f\u6703\uff0c\u7531\u6b64\u6587\u737b\u958b\u59cb\u63a2\u8a0e\u6bd4\u7279\u5e63\u7a76\u7adf\u662f\u500b\u300c\u6295\u6a5f\u5929\u5802\u300d\u6291\u6216\u300c\u907f\u96aa\u5de5\u5177\u300d\uff1f\u6bd4\u7279\u5e63\u8207\u5176\u4ed6\u91d1\u878d\u8cc7\u7522\u7684\u7570\u540c\u8655\u8207\u95dc\u806f\u6027\u6210\u70ba\u7814\u7a76\u7684\u7126\u9ede\u3002<\/p>\n<p>\u4f5c\u8005\u4ee5\u8a08\u91cf\u65b9\u6cd5\u4f86\u63a2\u8a0e\u6bd4\u7279\u5e63\u50f9\u683c\u8207\u91d1\u5c6c\u80fd\u6e90\u671f\u8ca8\u50f9\u683c\u4e4b\u95dc\u806f\u6027\uff0c\u7531\u65bc\u6bd4\u7279\u5e63\u50f9\u683c\u5177\u6709\u9ad8\u5ea6\u7684\u6ce2\u52d5\u6027\uff0c\u56e0\u6b64\u5be6\u8b49\u65b9\u6cd5\u63a1\u7528 Shin et al. \u6240\u5efa\u7acb\u7684\u975e\u7dda\u6027\u8ff4\u6b78\u6a21\u578b (Nonlinear autoregressive distributed lag model, NARDL)\uff0c\u85c9\u6b64\u8b93\u5206\u6790\u517c\u5177\u56b4\u8b39\u6027\u8207\u5f48\u6027\uff0c\u4e26\u53ef\u66f4\u6e05\u695a\u4e86\u89e3\u6bd4\u7279\u5e63\u8207\u5176\u4ed6\u91d1\u878d\u8cc7\u7522\u7684\u9577\u671f\u53ca\u77ed\u671f\u4e4b\u4e0d\u5c0d\u7a31\u95dc\u4fc2\u3002\u5be6\u8b49\u671f\u9593\u70ba 2014 \u5e74 1 \u6708\u81f3 2020 \u5e74 12 \u6708\u7684\u5468\u8cc7\u6599\uff0c\u5be6\u8b49\u7d50\u679c\u986f\u793a\uff1a\u6bd4\u7279\u5e63\u8207\u5929\u7136\u6c23\u3001\u9ec3\u91d1\u3001\u767d\u9280\u8207\u77f3\u6cb9\u671f\u8ca8\u4e4b\u50f9\u683c\u5177\u6709\u9577\u671f\u4e0d\u5c0d\u7a31\u95dc\u4fc2\uff0c\u4f46\u5728\u77ed\u671f\u5206\u6790\u4e2d\uff0c\u4e0d\u5c0d\u7a31\u95dc\u4fc2\u50c5\u5b58\u5728\u65bc\u6bd4\u7279\u5e63\u8207\u9ec3\u91d1\u671f\u8ca8\u3001\u6bd4\u7279\u5e63\u8207\u767d\u9280\u671f\u8ca8\uff1b\u7136\u800c\uff0c\u6b64\u7d50\u8ad6\u6703\u53d7\u5230\u8cc7\u6599\u983b\u7387\u7684\u5f71\u97ff\u3002<\/p>\n<p><span style=\"color: #808080\">\u7814\u7a76\u8ad6\u6587 Lin, M. Y., An, C. L. (2021) \u201cThe relationship between Bitcoin and\u00a0resource commodity futures: Evidence from NARDL approach\u201d, <em>Resources Policy<\/em>, 74, No. 102383.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-2235\" src=\"http:\/\/wp.shu.edu.tw\/wp-ctt\/uploads\/sites\/22\/2023\/04\/06acea8a5d2d3f7556b4992fb2f85fb4.png\" alt=\"\" width=\"483\" height=\"291\" \/><\/p>\n<p>\u5716 1: \u6bd4\u7279\u5e63\u6b77\u53f2\u50f9\u683c<\/p>\n<p>\u8cc7\u6599\u4f86\u6e90: <a href=\"https:\/\/www.investing.com\/\" target=\"_blank\" rel=\"noopener\">https:\/\/www.investing.com\/<\/a><\/p>\n<hr \/>\n<p><span style=\"font-size: 12pt\"><a href=\"http:\/\/econ.wp.shu.edu.tw\/%e5%b8%ab%e8%b3%87%e4%bb%8b%e7%b4%b9\/%e6%9e%97%e7%8e%ab%e5%90%9f\/\">\uff0e\u6797\u73ab\u541f\u526f\u6559\u6388<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>21 \u4e16\u7d00\u7684\u9ec3\u91d1\uff1a\u6bd4\u7279\u5e63 \u8fd1\u5e74\u4f86\uff0c\u96a8\u8457\u91d1\u878d\u79d1\u6280\u7684\u767c\u5c55\uff0c\u5927\u91cf\u7684 [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":2237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[40],"tags":[],"class_list":["post-2234","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-econ-intro-a"],"publishpress_future_action":{"enabled":false,"date":"2026-05-06 18:36:13","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category"},"_links":{"self":[{"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=\/wp\/v2\/posts\/2234","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2234"}],"version-history":[{"count":0,"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=\/wp\/v2\/posts\/2234\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=\/wp\/v2\/media\/2237"}],"wp:attachment":[{"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/econ.wp.shu.edu.tw\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}