Bitcoin and Finance
We discussed the characteristics of bitcoin in class, and then I became very interested in the new cryptocurrency and the new financial ecosystem. When I checked the data, I found that bitcoin was born in 2009, which happened to be the time when the global financial crisis broke out. Just looking at the years, one would think that bitcoin's emergence must have been closely linked to the financial crisis. But David yermack, a professor of finance and business transformation at New York University, said, "bitcoin happened to be launched in 2009, but this is the culmination of several decades of creating digital currencies on a peer-to-peer basis." In addition, the acceptance of bitcoin varies from country to country. For example, in 2013, the Chinese government issued the "notice on bitcoin risk prevention", announcing that bitcoin was not regarded as an effective transaction settlement tool in China. Yet the dramatic rise in the value of bitcoin in 2013 ...
