遠觀新聞執行編輯安德森·西瑪（Anderson Sima）

加密市場再次慶祝特朗普。但是我並不感到興奮，不是因為我不持有sol，xrp和ada令牌

output: As crypto traders celebrate former President Trump’s favorable remarks on Bitcoin and his administration’s initiative to promote strategic cryptocurrency reserves on March 2, I am not excited, not because I do not hold SOL, XRP, and ADA tokens, but because a series of measures taken by President Trump after taking office have made me excited but also worried about the crypto industry.

輸出：隨著加密貨幣交易者在3月2日慶祝前總統特朗普對比特幣及其政府促進戰略性加密貨幣儲備的倡議的好評，我並不感到興奮，不是因為我沒有持有SOL，XRP和ADA TOKENS，而是因為特朗普總統在任職後採取的一系列措施使我感到興奮，但我也擔心Crypto Crierpto Crierpto Industry。

Just before the Trump administration announced its initiative to promote strategic cryptocurrency reserves on March 2, another diplomatic event that attracted global attention was also worthy of attention from the crypto industry.

在特朗普政府在3月2日宣布促進戰略加密貨幣儲備的倡議之前，另一個引起全球關注的外交活動也值得加密行業的關注。

On February 28, U.S. President Trump, Vice President Vance, and Ukrainian President Zelensky, who was visiting the White House, had a heated argument in front of the media. This unusual argument in diplomatic practice revealed the resentment of the current U.S. government over its unlimited responsibility to lead world peace. The key dispute was Trump’s unwillingness to pay an undue price for other countries — that is, America first.

2月28日，美國總統特朗普，副總統萬斯和訪問白宮的烏克蘭總統澤倫斯基在媒體面前有激烈的爭論。在外交實踐中，這種不尋常的論點揭示了現任美國政府對領導世界和平的無限責任的不滿。主要爭議是特朗普不願為其他國家（即美國首先）付出不當的代價。

Yes, this is Trump’s campaign slogan and governing philosophy. If you understand this, you can also see what kind of political motivation is behind Trump’s crypto-friendly new policy?

是的，這是特朗普的競選口號和統治哲學。如果您理解這一點，您還可以看到特朗普對加密貨幣友好的新政策背後是什麼樣的政治動機？

"America First" Does Not Mean Financial Equality

“美國第一”並不意味著財務平等

Trump’s core philosophy is “America First,” and his policy goals have always been centered around consolidating the United States’ global hegemony and economic interests. In the field of cryptocurrency, although he claims to promote the United States to become the “global crypto capital,” the essence of his policy is to use state power to implement trade protectionism and ensure that the United States always maintains its leading position in the world.

特朗普的核心哲學是“美國第一”，他的政策目標一直以鞏固美國的全球霸權和經濟利益為中心。在加密貨幣領域，儘管他聲稱要促進美國成為“全球加密資本”，但其政策的本質是利用國家權力來實施貿易保護主義，並確保美國始終在世界上保持領先地位。

So what is the essence of cryptocurrency? There is actually no essential difference between cryptocurrency and traditional financial markets in terms of specific products and forms. Even cryptocurrency is now included in the category of major commodities and can be traded in ETFs or futures. But there are so many financial products in the world, what is so special about cryptocurrency?

那麼加密貨幣的本質是什麼？實際上，在特定產品和形式方面，加密貨幣與傳統金融市場之間沒有根本區別。現在，即使是加密貨幣也已包含在主要商品類別中，並且可以在ETF或期貨中進行交易。但是世界上有很多金融產品，加密貨幣有什麼特別的？

As a practitioner, my answer is that the emergence of cryptocurrency is essentially a revolutionary financial equality movement. From the perspective of Marxist economics, since its birth, financial products, as a derivative system of capitalism, have always represented the interests of the elites and are a tool for unlimited expansion of capital, but they do not serve the proletariat and prefer big capital and power machines.

作為一名從業者，我的回答是加密貨幣的出現本質上是革命性的金融平等運動。從馬克思主義經濟學的角度來看，自出生以來，金融產品（作為資本主義的衍生產品體系）一直代表精英的利益，並且是無限擴張資本的工具，但它們不為無產階級服務，更喜歡大型資本和電力機。

But the emergence of Bitcoin is precisely the dissatisfaction and innovation of this system. The design of cryptocurrency and the emergence of smart contracts allow all investors to enter a brand new financial system without permission or threshold. This system is global, permissionless, and even open and transparent from the beginning. If "America First" is to be put first, blockchain technology would not be invented by an anonymous person.

但是比特幣的出現正是該系統的不滿和創新。加密貨幣的設計和智能合約的出現使所有投資者無需許可或門檻即可進入全新的金融體系。該系統是全球性的，無許可的，甚至從一開始就開放和透明。如果要將“美國第一”放在首位，則區塊鏈技術將不會由匿名人士發明。

If the United States really realizes the strategic reserve of Bitcoin, I am very excited about it. But four years later, will the new U.S. president still stick to this policy? Can the market withstand the huge selling pressure at that time? Will the Democratic Party re-establish the "cryptocurrency prison"? The market is always timely, and the long-term is not in the consideration of traders, but as a long-term practitioner, this question is very important.

如果美國真的意識到比特幣的戰略儲備，我對此感到非常興奮。但是四年後，新任美國總統仍會堅持這一政策嗎？當時市場可以承受巨大的銷售壓力嗎？民主黨會重新建立“加密貨幣監獄”？市場始終是及時的，而且長期不考慮交易者，而是作為長期從業者，這個問題非常重要。

Trump has opened Pandora's box

特朗普打開了潘多拉的盒子

In addition to the motivations of relevant policies, the TRUMP and MELANIA meme coins launched by the Trump couple not only increased the speculative bubble in the crypto market, but also opened the Pandora’s box of "celebrity coin issuance," triggering a chain reaction.

除了相關政策的動機外，特朗普夫婦發起的特朗普和梅拉尼亞模因硬幣不僅增加了加密貨幣市場中的投機泡沫，而且還打開了潘多拉（Pandora）的“名人硬幣發行”的盒子，引發了連鎖反應。

Trump started the practice of issuing coins by the president himself, which also created a hot spot in the market. After the TRUMP coin was launched, its market value once soared to around 80 billion U.S. dollars, and then adjusted to 10 billion U.S. dollars, causing heavy losses to those who chased high prices. Similar cases spread further after his wife MELANIA and the President of Argentina followed suit, forming a vicious cycle of "celebrity-speculation-collapse," draining market liquidity and affecting the positive image of the industry and a healthy market environment.

特朗普開始了總統本人發行硬幣的做法，這也在市場上創造了一個熱點。特朗普硬幣推出後，其市場價值曾經飆升至800億美元，然後調整為100億美元，造成了追捕高價的人的巨大損失。在他的妻子梅拉尼亞（Melania）和阿根廷總統效仿的情況下，類似案件進一步擴散，形成了“名人規範崩潰”的惡性循環，消耗了市場流動性，並影響了行業的積極形象和健康的市場環境。

Recently, American celebrity Kanye West is also going to join the ranks of issuing coins. He has been promoting and announcing on social media early on. Does the market need so many celebrity memes? The evolution of a token’s life cycle from several years to several hours has greatly increased the difficulty and risk even for dedicated traders.

最近，美國名人坎耶·韋斯特（Kanye West）也將加入發行硬幣的行列。他一直在社交媒體上宣傳和宣布。市場需要這麼多名人模因嗎？令牌生命週期從幾年到幾個小時的發展也大大增加了困難和風險，即使對於專門的交易者來說也是如此。

In the past, the strict supervision of the SEC stifled industry innovation while protecting the asset security of investors. But now, under the personal leadership of Trump, the extremely fast coin issuance process and extremely low regulatory costs have made the crypto industry a "leek-cutting" holy land, right? So we joked that the fraud group in northern Myanmar has begun to move into the field of cryptocurrency. Trump's coin issuance behavior "has turned the industry into a tool for political manipulation," weakening the outside world's serious understanding of blockchain technology.

過去，SEC扼殺了行業創新的嚴格監督，同時保護了投資者的資產安全。但是現在，在特朗普的個人領導下，非常快速的硬幣發行過程和極低的監管成本使加密貨幣行業成為“韭菜切割”的聖地，對嗎？因此，我們開玩笑說，緬甸北部的欺詐組織已開始進入加密貨幣領域。特朗普的硬幣發行行為“將行業變成了政治操縱的工具”，削弱了外界對區塊鏈技術的認真理解。