Tether：加密世界有爭議的巨人

Tether 於 2014 年推出，作為加密貨幣領域的先鋒穩定幣引起了轟動。它由 Reeve Collins、Brock Pierce 和 Craig Stellers 構思，最初在 Omni Layer 上可用，但後來擴展到多個區塊鏈。如今，它已成為按市值計算的第三大數位貨幣。

Launched in 2014, Tether (CRYPTO:USDT) is the pioneering stablecoin in the cryptocurrency landscape. Conceived by Reeve Collins, Brock Pierce, and Craig Sellars, it was initially available on the Omni Layer but has since expanded across multiple blockchains. Today, it holds the distinction of being the third largest digital currency by market capitalization.

Tether（加密貨幣代碼：USDT）於 2014 年推出，是加密貨幣領域的先鋒穩定幣。它由 Reeve Collins、Brock Pierce 和 Craig Sellars 構思，最初在 Omni Layer 上可用，但後來擴展到多個區塊鏈。如今，它已成為按市值計算的第三大數位貨幣。

What Sets Tether Apart?

是什麼讓 Tether 與眾不同？

Tether distinguishes itself by claiming that each of its tokens is backed by a U.S. dollar, a mechanism facilitated by Tether Limited. This enables users to seamlessly exchange between USD and Tether. Despite its promise, Tether has not been immune to controversy. It shares a close relationship with Bitfinex, a cryptocurrency exchange that faced allegations from the New York Attorney General for using Tether funds to cover an $850 million shortfall.

Tether 的與眾不同之處在於，它聲稱其每種代幣均由美元支持，這一機制由 Tether Limited 推動。這使得用戶能夠在美元和 Tether 之間無縫兌換。儘管做出了承諾，但 Tether 也未能倖免於爭議。它與 Bitfinex 關係密切，Bitfinex 是一家加密貨幣交易所，因使用 Tether 資金彌補 8.5 億美元的缺口而面臨紐約總檢察長的指控。

The Value of Stability

穩定的價值

At the time of writing, Tether is priced at $1.000828, having experienced minor fluctuations of -0.02% in the past 24 hours and -0.04% earlier today. Despite criticisms about stability and reliability, Tether remains a key player in the digital currency arena, offering a semblance of stability with its pegged value.

截至撰寫本文時，Tether 的價格為 1.000828 美元，過去 24 小時內經歷了 -0.02% 的小幅波動，今天早些時候經歷了 -0.04% 的小幅波動。儘管穩定性和可靠性受到批評，但 Tether 仍然是數位貨幣領域的關鍵參與者，以其錨定價值提供了表面上的穩定性。

The Evolution of Digital Currencies

數位貨幣的演變

Cryptocurrencies emerged in 2008 as responses to economic instability. They operate using cryptographic encryption to secure transactions and control currency generation. They differ significantly from traditional currencies, lacking central regulation and physical presence. This decentralized nature has drawn both criticism and admiration. While some view them as unreliable and a harbor for illicit activities, acceptance has grown, with influential figures promoting their use.

加密貨幣於 2008 年出現，作為應對經濟不穩定的措施。他們使用加密技術來保護交易並控制貨幣生成。它們與傳統貨幣有很大不同，缺乏中央監管和實體存在。這種去中心化的本質既引起了批評，也引起了欽佩。儘管有些人認為它們不可靠且是非法活動的避風港，但人們的接受度有所提高，有影響力的人物也在推廣它們的使用。

Elon Musk is noted for boosting certain cryptocurrencies like Bitcoin and Dogecoin, momentarily allowing their use at Tesla, which influenced their market value significantly.

伊隆馬斯克因推動比特幣和狗狗幣等某些加密貨幣的發展而聞名，暫時允許它們在特斯拉使用，這極大地影響了它們的市場價值。

Hidden Impacts of Stablecoins: Why Tether’s Success Comes with Concerns

穩定幣的隱藏影響：為什麼 Tether 的成功伴隨著擔憂

Unveiling the Global Influence of Stablecoins

揭示穩定幣的全球影響力

Tether, often heralded as a beacon of stability in the volatile world of cryptocurrencies, exerts a significant influence not only on individual investors but on global financial systems. As a stablecoin pegged to the U.S. dollar, Tether offers a semblance of financial steadiness in a sector notorious for dramatic price swings. However, this stability comes with a suite of underlying ripple effects that impact economies, communities, and traditional banking systems.

Tether 經常被譽為動盪的加密貨幣世界中的穩定燈塔，它不僅對個人投資者而且對全球金融體系產生重大影響。作為一種與美元掛鉤的穩定幣，Tether 為這個因價格劇烈波動而臭名昭著的行業提供了表面上的財務穩定性。然而，這種穩定性伴隨著一系列影響經濟、社區和傳統銀行體系的潛在連鎖反應。

How Does Tether Influence National Economies?

Tether 如何影響國民經濟？

Stablecoins like Tether provide an alternative financial system, disrupting traditional banking by offering seamless transactions without intermediaries. For people in countries with unstable economies or hyperinflation, such as Venezuela and Zimbabwe, Tether represents a financial lifeline, offering protection against the ravages of domestic currency devaluation. By allowing transactions to bridge volatile market elements and daily economic transactions, stablecoins serve as a practical solution for those who lack access to reliable financial institutions.

Tether 等穩定幣提供了另一種金融系統，透過提供無需中介的無縫交易來顛覆傳統銀行業務。對於委內瑞拉和津巴布韋等經濟不穩定或惡性通貨膨脹國家的人們來說，Tether 代表著金融生命線，可以防止本國貨幣貶值的破壞。透過允許交易彌合波動的市場因素和日常經濟交易，穩定幣為那些無法獲得可靠金融機構的人提供了實用的解決方案。

Interesting Facts and Controversies Surrounding Tether

圍繞 Tether 的有趣事實和爭議

– Largest Daily Transaction Volume: Tether consistently posts higher daily transaction volumes compared to Bitcoin, underscoring its role as a preferred medium for digital currency trading.

– 最大的每日交易量：與比特幣相比，Tether 的每日交易量始終較高，凸顯了其作為數位貨幣交易首選媒介的作用。

– Regulatory Scrutiny: Despite its widespread use, Tether faces ongoing scrutiny from regulatory bodies concerned about its lack of transparent audits. The absence of verified proof of reserves raises questions about whether all Tether tokens are indeed backed by actual U.S. dollars.

– 監管審查：儘管 Tether 被廣泛使用，但仍面臨監管機構對其缺乏透明審計的持續審查。由於缺乏經過驗證的儲備證明，人們質疑所有 Tether 代幣是否確實都有實際美元支持。

– Potential Impact on Banking Sector: As stablecoins become more prominent, they threaten to unseat traditional banking services. Offering lower transaction fees and faster processing times, they could potentially diminish banks’ role in money transfer services.

– 對銀行業的潛在影響：隨著穩定幣變得更加突出，它們有可能取代傳統銀行服務。它們提供更低的交易費用和更快的處理時間，可能會削弱銀行在匯款服務中的作用。

Advantages and Disadvantages of Tether in the Crypto Ecosystem

Tether 在加密生態系統中的優點和缺點

Advantages:

優點：

– Stability in Crisis: Provides much-needed stability in various economic conditions, particularly in regions with hyperinflation.

– 危機中的穩定：在各種經濟條件下提供急需的穩定，特別是在惡性通貨膨脹的地區。

– Facilitates Digital Transactions: Makes it easier for users internationally to engage in digital transactions or digital currency trading without experiencing the volatility of other cryptocurrencies.

– 促進數位交易：使國際用戶更容易參與數位交易或數位貨幣交易，而無需經歷其他加密貨幣的波動性。

– Accessibility: Engages the unbanked population by offering financial services without the need for traditional banking infrastructure.

– 可近性：透過提供金融服務來吸引沒有銀行帳戶的人群，而無需傳統的銀行基礎設施。

Disadvantages:

缺點：

– Audit Concerns: Criticism over the lack of clarity and infrequent auditing leads to doubts about its actual backing, posing risks to investors.

– 審計擔憂：對缺乏清晰度和不頻繁審計的批評導致對其實際支持的懷疑，給投資者帶來風險。

– Regulatory Challenges: As global regulators tighten their focus on digital currencies, Tether stands to face significant legal and operational hurdles.

– 監管挑戰：隨著全球監管機構加強對數位貨幣的關注，Tether 將面臨重大的法律和營運障礙。

– Centralization Risks: Though marketed as part of the decentralized finance movement, many argue Tether’s operations are central and susceptible to vulnerabilities inherent in centralized systems.

– 中心化風險：雖然作為去中心化金融運動的一部分進行行銷，但許多人認為 Tether 的運作是中心化的，容易受到中心化系統固有漏洞的影響。

Questions Loom Over the Future of Stablecoins

穩定幣的未來存在疑問

Can stablecoins overshadow traditional currencies? As Tether continues to grow, its acceptance might challenge existing currency systems and redefine the transaction landscape. However, without adequate regulation, stablecoins might evade the security and control that banks currently provide.

穩定幣能否超越傳統貨幣？隨著 Tether 的不斷增長，它的接受度可能會挑戰現有的貨幣體系並重新定義交易格局。然而，如果沒有足夠的監管，穩定幣可能會逃避銀行目前提供的安全和控制。

Will regulatory pressures limit Tether and similar stablecoins? Future measures might force Tether to pledge full transparency, adjusting its operating model to avoid stringent sanctions. A balanced approach could ensure digital currencies fortify rather than destabilize financial ecosystems.

監管壓力會限制 Tether 和類似的穩定幣嗎？未來的措施可能會迫使 Tether 承諾完全透明，調整其營運模式以避免嚴厲制裁。平衡的方法可以確保數位貨幣加強而不是破壞金融生態系統的穩定性。

For more information on cryptocurrencies and their impact on the economy, visit CoinMarketCap and

有關加密貨幣及其對經濟影響的更多信息，請訪問 CoinMarketCap 和