英文标题：
《Network-based indicators of Bitcoin bubbles》
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作者：
Alexandre Bovet, Carlo Campajola, Jorge F. Lazo, Francesco Mottes,
  Iacopo Pozzana, Valerio Restocchi, Pietro Saggese, Nicol\\\'o Vallarano,
  Tiziano Squartini, Claudio J. Tessone
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最新提交年份：
2018
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英文摘要：
  The functioning of the cryptocurrency Bitcoin relies on the open availability of the entire history of its transactions. This makes it a particularly interesting socio-economic system to analyse from the point of view of network science. Here we analyse the evolution of the network of Bitcoin transactions between users. We achieve this by using the complete transaction history from December 5th 2011 to December 23rd 2013. This period includes three bubbles experienced by the Bitcoin price. In particular, we focus on the global and local structural properties of the user network and their variation in relation to the different period of price surge and decline. By analysing the temporal variation of the heterogeneity of the connectivity patterns we gain insights on the different mechanisms that take place during bubbles, and find that hubs (i.e., the most connected nodes) had a fundamental role in triggering the burst of the second bubble. Finally, we examine the local topological structures of interactions between users, we discover that the relative frequency of triadic interactions experiences a strong change before, during and after a bubble, and suggest that the importance of the hubs grows during the bubble. These results provide further evidence that the behaviour of the hubs during bubbles significantly increases the systemic risk of the Bitcoin network, and discuss the implications on public policy interventions.
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中文摘要：
加密货币比特币的功能取决于其整个交易历史的公开可用性。这使得从网络科学的角度进行分析成为一个特别有趣的社会经济系统。在此，我们分析了用户之间比特币交易网络的演变。我们通过使用2011年12月5日至2013年12月23日的完整交易历史记录来实现这一目标。这一时期包括比特币价格经历的三次泡沫。特别是，我们关注用户网络的全局和局部结构特性，以及它们在不同价格波动和下跌时期的变化。通过分析连接模式异质性的时间变化，我们深入了解了泡沫期间发生的不同机制，并发现集线器（即连接最紧密的节点）在触发第二个泡沫破裂方面起着根本作用。最后，我们研究了用户之间交互的局部拓扑结构，我们发现三元交互的相对频率在泡沫之前、期间和之后都经历了强烈的变化，并表明在泡沫期间，集线器的重要性增加。这些结果进一步证明，泡沫期间中心的行为显著增加了比特币网络的系统性风险，并讨论了对公共政策干预的影响。
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分类信息：

一级分类：Physics        物理学
二级分类：Physics and Society        物理学与社会
分类描述：Structure, dynamics and collective behavior of societies and groups (human or otherwise). Quantitative analysis of social networks and other complex networks. Physics and engineering of infrastructure and systems of broad societal impact (e.g., energy grids, transportation networks).
社会和团体（人类或其他）的结构、动态和集体行为。社会网络和其他复杂网络的定量分析。具有广泛社会影响的基础设施和系统（如能源网、运输网络）的物理和工程。
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一级分类：Computer Science        计算机科学
二级分类：Social and Information Networks        社会和信息网络
分类描述：Covers the design, analysis, and modeling of social and information networks, including their applications for on-line information access, communication, and interaction, and their roles as datasets in the exploration of questions in these and other domains, including connections to the social and biological sciences. Analysis and modeling of such networks includes topics in ACM Subject classes F.2, G.2, G.3, H.2, and I.2; applications in computing include topics in H.3, H.4, and H.5; and applications at the interface of computing and other disciplines include topics in J.1--J.7. Papers on computer communication systems and network protocols (e.g. TCP/IP) are generally a closer fit to the Networking and Internet Architecture (cs.NI) category.
涵盖社会和信息网络的设计、分析和建模，包括它们在联机信息访问、通信和交互方面的应用，以及它们作为数据集在这些领域和其他领域的问题探索中的作用，包括与社会和生物科学的联系。这类网络的分析和建模包括ACM学科类F.2、G.2、G.3、H.2和I.2的主题；计算应用包括H.3、H.4和H.5中的主题；计算和其他学科接口的应用程序包括J.1-J.7中的主题。关于计算机通信系统和网络协议（例如TCP/IP）的论文通常更适合网络和因特网体系结构（CS.NI）类别。
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一级分类：Quantitative Finance        数量金融学
二级分类：General Finance        一般财务
分类描述：Development of general quantitative methodologies with applications in finance
通用定量方法的发展及其在金融中的应用
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