川普承諾讓所有比特幣「美國製造」可能是他最難兌現的競選承諾

- 隨著唐納德·特朗普準備兌現一長串競選承諾，當選總統確保所有剩餘比特幣都是“美國製造”的誓言可能被證明是最具挑戰性的誓言之一。

Donald Trump's pledge to ensure that all remaining Bitcoin is "made in the USA" is facing challenges due to the decentralized nature of blockchains and increasing global competition in crypto mining.

由於區塊鏈的去中心化性質和加密貨幣挖礦領域日益激烈的全球競爭，唐納德·川普確保所有剩餘比特幣都是「美國製造」的承諾面臨挑戰。

Trump made the vow in a post on his Truth Social account after meeting with crypto miners at Mar-a-Lago in June. The gathering marked a shift in Trump's stance on crypto, having previously expressed skepticism.

川普於 6 月在海湖莊園會見加密貨幣礦工後，在其 Truth Social 帳戶上發布了這一誓言。這次會議標誌著川普對加密貨幣立場的轉變，此前他曾表達過懷疑。

However, industry analysts say that Trump's goal is not feasible in practice.

不過，業內分析人士表示，川普的目標在實踐中並不可行。

"It is a Trump-like comment but it is definitely not in reality," said Ethan Vera, chief operating officer at Luxor Technology, a Seattle-based company that provides software and services to miners.

「這是川普式的評論，但絕對不是現實，」盧克索科技公司(Luxor Technology) 首席營運長伊森·維拉(Ethan Vera) 表示，該公司是一家總部位於西雅圖的向礦工提供軟體和服務的公司。

Vera added that blockchains are decentralized networks in which no one controls or can be banned from participating in the process.

維拉補充說，區塊鏈是去中心化的網絡，沒有人可以控製或被禁止參與這一過程。

"On a practical basis, the sector is becoming increasingly competitive as large-scale operations pop up across the world to get a slice of the tens of billions of dollars in revenue generated each year by the industry," Vera said.

維拉說：“實際上，隨著大規模業務在世界各地湧現，該行業的競爭正變得越來越激烈，以從該行業每年產生的數百億美元收入中分得一杯羹。”

According to Vera, recent competitors include Russian oligarchs, Dubai royal families, and Chinese businessmen in Africa, who are joining in on the lucrative but energy-intensive process thanks to their deep pockets and access to vast amounts of power.

維拉表示，最近的競爭對手包括俄羅斯寡頭、杜拜王室和非洲的中國商人，他們憑藉著雄厚的財力和掌握的大量權力，正在加入這一利潤豐厚但能源密集的進程。

About 95% of the 21 million Bitcoin that will ever be created have already been minted, although the hard cap on production is not expected to be met for about 100 years.

儘管預計在大約 100 年內無法達到生產的硬性上限，但將要創造的 2,100 萬枚比特幣中，約 95% 已經被鑄造出來。

The Bitcoin mining sector in the US has become a multi-billion dollar industry in recent years, as the token has seen exponential increases in prices. However, the total computing power generated from US-based miners is well below 50%, according to industry analysts.

近年來，美國的比特幣採礦業已成為一個價值數十億美元的行業，代幣價格呈指數級增長。然而，產業分析師表示，美國礦商產生的總算力遠低於 50%。

While there is no public data to indicate the sources of computing power from each region across the world, large crypto-mining service providers such as Luxor tend to have good insight on the makeup. They have more specific information on mining locations through their software that aggregates computing power to increase chances for miners to get Bitcoin rewards.

雖然沒有公開數據表明世界各地的算力來源，但像盧克索這樣的大型加密貨幣挖礦服務提供者往往對組成有很好的洞察力。他們透過聚合計算能力的軟體獲得有關採礦位置的更多具體信息，以增加礦工獲得比特幣獎勵的機會。

US miners such as CleanSpark Inc. and Riot Platforms Inc. quickly supported Trump, hoping that the former president will ease scrutiny on the environmental impact of the high-energy use process, curb competition from overseas, and roll back what they view as restrictive guidelines under the Biden administration. Trump’s support of crypto helped to generate about $135 million in campaign contributions during the last election cycle, the most by any one industry.

CleanSpark Inc.和Riot Platforms Inc.等美國礦商迅速支持川普，希望前總統放鬆對高能源使用過程對環境影響的審查，遏制來自海外的競爭，並取消他們認為的限制性指導方針在拜登政府的領導下。川普對加密貨幣的支持在上一個選舉週期中幫助產生了約 1.35 億美元的競選捐款，是所有行業中最多的。

Despite rapid expansion in the US and the latest bull run in the crypto market, economic sanctions by the US and rampant inflation in some emerging economies have spurred overseas miners to ramp up their operations even more.

儘管美國經濟快速擴張，加密貨幣市場最近出現多頭市場，但美國的經濟制裁和一些新興經濟體的通貨膨脹加劇，刺激海外礦商進一步加強營運。

“There is huge growth coming up in a few different markets,” said Taras Kulyk, chief executive of Synteq Digital, which is one of the largest brokers for specialized computers for Bitcoin mining. Eastern European countries such as Kazakhstan are seeing more demand, and “sales into Asia, Africa and the Middle East are all on the rise, Kulyk said.

Synteq Digital 執行長Taras Kulyk 表示：「幾個不同的市場正在出現巨大的成長。」該公司是最大的比特幣挖礦專用電腦經紀商之一。哈薩克等東歐國家的需求正在增加，「亞洲、非洲和中東的銷量都在成長，」庫雷克說。

Large sales in Asia point to an increase in Bitcoin mining activities in China after a sweeping ban on such operations by the government in 2021. A loosening stance on crypto from Russia is also spurring a resurgence of the industry in the country, according to Kulyk.

亞洲的大量銷售表明，繼 2021 年政府全面禁止比特幣挖礦活動之後，中國的比特幣挖礦活動有所增加。

For some African and South American countries, margins from Bitcoin mining are much larger compared to their US peers. Pockets of cheap energy are spread across Africa with hydro power-rich Ethiopia being one of the fastest growing crypto mining hubs on the continent. The US dollar-denominated mining revenue has provided a way to keep local operators in countries like Argentina out of the inflation spiral and preserve their savings.

對一些非洲和南美國家來說，比特幣挖礦的利潤比美國同行高得多。廉價能源遍布非洲各地，水力發電豐富的衣索比亞是非洲大陸成長最快的加密貨幣挖礦中心之一。以美元計價的挖礦收入為阿根廷等國家的當地營運商提供了一種避免通貨膨脹螺旋並保留儲蓄的方法。

Even US miners have embarked on overseas expansion as power costs in states such as Texas rise. MARA Holdings Inc., the largest miner by market cap, announced plans to form a joint venture with a local firm owned by a sovereign wealth fund in Abu Dhabi. The venture aims to build out one of the largest mining farms in the Middle East.

隨著德州等州電力成本的上升，就連美國礦商也開始了海外擴張。市值最大的礦業公司 MARA Holdings Inc. 宣布計劃與阿布達比一家主權財富基金旗下的當地公司組成一家合資企業。該合資企業旨在興建中東最大的礦場之一。

The operations within the US are not entirely dedicated to domestic miners either. Many miners provide hosting services, in which anyone either from the US or overseas can buy machines and pay the operations to run them and earn Bitcoin.

美國境內的業務也不完全專門針對國內礦商。許多礦工提供託管服務，來自美國或海外的任何人都可以購買機器並支付運行費用並賺取比特幣。

And there is another headwind Trump risks bringing upon the US miners. A trade war with China would likely raise the cost of Bitcoin mining machines, most of which are manufactured by a Chinese company Bitmain, especially given the fact machines are one of the two major expenses for miners besides electricity. But for many miners, the benefits from Trump outweigh the harm.

川普也可能為美國礦商帶來另一個不利因素。與中國的貿易戰可能會提高比特幣礦機的成本，其中大部分礦機是由中國公司比特大陸製造的，特別是考慮到礦機是除了電力之外礦工的兩大支出之一。但對許多礦商來說，川普帶來的好處大於壞處。

“Trump is probably the best thing for Bitcoin mining that could ever happen,” Kulyk said. “He is a pro-energy and pro-economic growth type of president.”

庫雷克說：“川普可能是比特幣挖礦史上最好的選擇。” “他是一位支持能源和經濟成長的總統。”