模因硬幣：現代淘金熱可能是數字的，但舊的智慧仍然存在

儘管比特幣和以太坊等主要的加密貨幣是設計了特定的技術問題，可以解決和清晰的意識形態，但模因硬幣 -

Major cryptocurrencies like Bitcoin and Ethereum were designed with specific technological problems to solve and clear ideologies in mind. On the other hand, meme coins, which are named with an “s” at the beginning and rhyme with “bit” in crypto circles, exist primarily for speculation and amusement.

像比特幣和以太坊這樣的主要加密貨幣是針對解決和清晰意識形態的特定技術問題的設計。另一方面，Meme硬幣在開始時以“ S”命名，並在加密圓圈中帶有“ Bit”押韻，主要存在於猜測和娛樂。

Of the 3700+ meme coins in existence, most have no intrinsic value beyond entertaining their creators and online speculators.

在存在的3700多個模因硬幣中，大多數人沒有招待創作者和在線投機者的內在價值。

However, their popularity continues to surge among retail investors chasing the next big win, driven by social media hype and the fear of missing out on potential gains.

然而，由於社交媒體炒作的驅使以及害怕錯過潛在的收益，他們的散戶投資者在追求下一場大勝利的散戶投資者中繼續受到歡迎。

Warren Buffett, often regarded as the world's greatest investor, described cryptocurrency bluntly as something that “produces nothing”. In his view, it's a game of passing the parcel, where the only way to profit is by selling to “the next person who comes along”.

沃倫·巴菲特（Warren Buffett）經常被視為世界上最偉大的投資者，他直言不諱地將加密貨幣描述為“什麼都沒有產生”。他認為，這是一款通過包裹的遊戲，唯一的盈利方法是向“下一個來的人”出售。

This perfectly illustrates what economists call the “Greater Fool Theory” – the idea that the price of an asset is determined not by its intrinsic value, but by the expectations that a “greater fool” will pay more for it in the future.

這完美地說明了經濟學家所說的“更大的傻瓜理論” - 資產的價格不是由其內在價值決定的，而是由“更大的傻瓜”在將來為其付出更多的想法。

This is something to consider as more Kiwis get drawn into the latest investment crazes.

這是值得考慮的事情，因為更多的獼猴桃被吸引到了最新的投資瘋狂中。

The phenomenon of meme stocks, where share prices are driven by social media hype rather than business fundamentals, hasn't gone away either. It's as if the financial markets have developed their own form of viral trends, like what we see on TikTok or Instagram.

股票股票價格是由社交媒體炒作而不是業務基礎驅動的，這種現像也沒有消失。好像金融市場已經發展了自己的病毒趨勢形式，就像我們在Tiktok或Instagram上看到的那樣。

But unlike a viral dance challenge that costs nothing to participate in, these trends involve real money and real risks. The volatility in these markets can be extreme, with prices swinging wildly based on nothing more than tweets, Reddit posts, or celebrity endorsements.

但是，與一項病毒舞蹈挑戰不同，這些趨勢涉及真實的金錢和真正的風險。這些市場的波動性可能是極端的，其價格僅基於推文，reddit帖子或名人代言而瘋狂地搖擺。

Take the recent launch of the “Trump Coin” and “Melania Token”. These digital tokens represent a concerning trend where investment decisions are increasingly driven by personality cults rather than sound financial principles.

採用最近發布的“特朗普硬幣”和“梅拉尼亞代幣”。這些數字代幣代表了一個趨勢，其中投資決策越來越多地由人格邪教而不是合理的財務原則驅動。

If the crypto world wanted to escape its reputation as an industry of grifters running on nothing but hype, the $Trump and $Melania “meme” coins were a bad start. Within hours of launch, $Trump's value skyrocketed by 600%, reaching a market cap of $32 billion.

如果加密貨幣世界想逃避其作為一個怪物行業的聲譽，那就是炒作，$ trump和$ melania“模因”硬幣是一個糟糕的開始。在發布後的幾個小時內，$特朗普的價值飆升了600％，達到了320億美元的市值。

While Trump's personal wealth grew by 89% in just three days, an estimated 77% of coin buyers made less than $100 profit, with just 60 investors pocketing more than $10 million each.

雖然特朗普的個人財富在短短三天內增長了89％，但估計有77％的硬幣買家賺取了不到100美元的利潤，只有60個投資者賺了超過1000萬美元。

The recent HawkTuah coin (yes, the meme coins truly never stop) disaster serves as a stark reminder of how quickly crypto investments can evaporate and have no financial grounding.

最近的Hawktuah Coin（是的，模因硬幣確實永遠不會停止），這是一個明顯地提醒著加密投資能夠蒸發且沒有財務基礎的速度。

When you step back and consider that people invested hard-earned money in a meme coin created off the back of internet stardom from a random street interview, the madness becomes apparent.

當您退後一步，考慮到人們從隨機的街頭採訪中從互聯網明星的背後創造的模因硬幣中投入了辛苦賺來的錢時，瘋狂就顯而易見了。

Investors poured money into this hyped-up token and watched their investments disappear almost overnight, leaving nothing but empty digital wallets and harsh lessons about the dangers of following investment trends without proper due diligence.

投資者將資金投入到這個被炒作的代幣中，看著他們的投資幾乎在一夜之間消失了，除了空無一人的數字錢包和關於不適當盡職調查的投資趨勢的危險之外，別無其他。

Stewart Group has been around for 38 years this week – our doors hadn't even been open a year when the stock market crash of 1987 happened. For those Kiwis who also remember that pain or the later finance company collapses of 2006-2008, these new investment fads should be setting off alarm bells.

斯圖爾特集團本週已經存在了38年 - 當1987年股市崩潰發生時，我們的門還沒有開放。對於那些還記得痛苦或後來的金融公司2006- 2008年崩潰的獼猴桃，這些新的投資時尚應該引起警鐘。

The challenge for many Kiwis is navigating this new landscape while staying grounded in financial reality. While the allure of quick profits can be tempting, especially when we see stories of overnight crypto millionaires, the risks often outweigh the potential rewards.

許多新西蘭人面臨的挑戰是在居住在金融現實的同時，在這一新景觀中瀏覽。雖然快速利潤的吸引力可能會很誘人，尤其是當我們看到過夜加密百萬富翁的故事時，風險通常大於潛在的回報。

The volatility in these markets can be devastating for the unprepared and sophisticated investors looking for “the next thing”, and the lack of regulation means there's little protection when things go wrong.

對於尋找“下一件事”的沒有準備的和復雜的投資者來說，這些市場的波動可能是毀滅性的，並且缺乏法規意味著當出現問題時，幾乎沒有保護。

It's just not worth the risk. So, what's the sensible approach?

只是不值得冒險。那麼，明智的方法是什麼？

Start with the basics: build an emergency fund, contribute to KiwiSaver, and if you're interested in investing, begin with diversified index funds rather than speculative assets. Would you put your house deposit or retirement savings into a digital token named after a politician? Probably not. So why risk any money you can't afford to lose?

從基本知識開始：建立緊急基金，為Kiwisaver做出貢獻，如果您有興趣投資，請從多元化的指數資金而不是投機資產開始。您會將房屋存款或退休儲蓄放入以政客命名的數字代幣中嗎？可能不是。那麼，為什麼要冒險損失任何錢呢？

The fundamental principles of sound investing haven't changed – diversification, long-term thinking, and understanding what you're investing in remain crucial.

聲音投資的基本原則沒有改變 - 多元化，長期思考和理解您投資的內容仍然至關重要。

One thing's for certain – in the game of “Greater Fools”, somebody always has to be the last one holding the worthless asset. It's better to watch from the sidelines than risk becoming that final, greatest fool in a game where the odds are stacked against you.

可以肯定的是 - 在“大傻瓜”遊戲中，總是必須是持有毫無價值的資產的最後一個。在場外觀看比成為最終，最大的傻瓜在一場比賽中遇到賠率的最大傻瓜要好得多。

The modern gold rush might be digital, but the old wisdom still holds true: all that glitters is not gold, and if something seems too good to be true, it probably is.

現代的淘金熱可能是數字化的，但是舊的智慧仍然存在：所有的閃閃發光不是黃金，如果某種東西似乎太好了，那麼可能是真實的。