远观新闻执行编辑安德森·西玛（Anderson Sima）

加密市场再次庆祝特朗普。但是我并不感到兴奋，不是因为我不持有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.

输出：随着加密货币交易者在3月2日庆祝前总统特朗普对比特币及其政府促进战略性加密货币储备的倡议的好评，我并不感到兴奋，不是因为我没有持有SOL，XRP和ADA TOKENS，而是因为特朗普总统在任职后采取的一系列措施使我感到兴奋，但我也担心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日宣布促进战略加密货币储备的倡议之前，另一个引起全球关注的外交活动也值得加密行业的关注。

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，美国总统特朗普，副总统万斯和访问白宫的乌克兰总统泽伦斯基在媒体面前有激烈的争论。在外交实践中，这种不寻常的论点揭示了现任美国政府对领导世界和平的无限责任的不满。主要争议是特朗普不愿为其他国家（即美国首先）付出不当的代价。

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，这是特朗普的竞选口号和统治哲学。如果您理解这一点，您还可以看到特朗普对加密货币友好的新政策背后是什么样的政治动机？

"America First" Does Not Mean Financial Equality

“美国第一”并不意味着财务平等

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.

特朗普的核心哲学是“美国第一”，他的政策目标一直以巩固美国的全球霸权和经济利益为中心。在加密货币领域，尽管他声称要促进美国成为“全球加密资本”，但其政策的本质是利用国家权力来实施贸易保护主义，并确保美国始终在世界上保持领先地位。

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?

那么加密货币的本质是什么？实际上，在特定产品和形式方面，加密货币与传统金融市场之间没有根本区别。现在，即使是加密货币也已包含在主要商品类别中，并且可以在ETF或期货中进行交易。但是世界上有很多金融产品，加密货币有什么特别的？

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.

作为一名从业者，我的回答是加密货币的出现本质上是革命性的金融平等运动。从马克思主义经济学的角度来看，自出生以来，金融产品（作为资本主义的衍生产品体系）一直代表精英的利益，并且是无限扩张资本的工具，但它们不为无产阶级服务，更喜欢大型资本和电力机。

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.

但是比特币的出现正是该系统的不满和创新。加密货币的设计和智能合约的出现使所有投资者无需许可或门槛即可进入全新的金融体系。该系统是全球性的，无许可的，甚至从一开始就开放和透明。如果要将“美国第一”放在首位，则区块链技术将不会由匿名人士发明。

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.

如果美国真的意识到比特币的战略储备，我对此感到非常兴奋。但是四年后，新任美国总统仍会坚持这一政策吗？当时市场可以承受巨大的销售压力吗？民主党会重新建立“加密货币监狱”？市场始终是及时的，而且长期不考虑交易者，而是作为长期从业者，这个问题非常重要。

Trump has opened Pandora's box

特朗普打开了潘多拉的盒子

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.

除了相关政策的动机外，特朗普夫妇发起的特朗普和梅拉尼亚模因硬币不仅增加了加密货币市场中的投机泡沫，而且还打开了潘多拉（Pandora）的“名人硬币发行”的盒子，引发了连锁反应。

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.

特朗普开始了总统本人发行硬币的做法，这也在市场上创造了一个热点。特朗普硬币推出后，其市场价值曾经飙升至800亿美元，然后调整为100亿美元，造成了追捕高价的人的巨大损失。在他的妻子梅拉尼亚（Melania）和阿根廷总统效仿的情况下，类似案件进一步扩散，形成了“名人规范崩溃”的恶性循环，消耗了市场流动性，并影响了行业的积极形象和健康的市场环境。

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，美国名人坎耶·韦斯特（Kanye West）也将加入发行硬币的行列。他一直在社交媒体上宣传和宣布。市场需要这么多名人模因吗？令牌生命周期从几年到几个小时的发展也大大增加了困难和风险，即使对于专门的交易者来说也是如此。

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.

过去，SEC扼杀了行业创新的严格监督，同时保护了投资者的资产安全。但是现在，在特朗普的个人领导下，非常快速的硬币发行过程和极低的监管成本使加密货币行业成为“韭菜切割”的圣地，对吗？因此，我们开玩笑说，缅甸北部的欺诈组织已开始进入加密货币领域。特朗普的硬币发行行为“将行业变成了政治操纵的工具”，削弱了外界对区块链技术的认真理解。