比特币与银行：正在进行的沉默但残酷的变态正在进行中

比特币出生于2008年危机的阴影下，今天体现了一场革命，使银行的基础动摇了。

In the hushed corridors of finance, a brutal metamorphosis is unfolding. Bitcoin, forged in the shadow of the 2008 crisis, today embodies a revolution that threatens to topple the giants of banking.

在金融的安静走廊中，残酷的变态正在展开。比特币在2008年危机的阴影下伪造，今天体现了一场革命，威胁要推翻银行业的巨人。

From promises of financial emancipation to technical challenges, its ascent raises a crucial question: can it truly dethrone the behemoths of traditional finance?

从财务解放的承诺到技术挑战，其上升提出了一个至关重要的问题：它可以真正摆脱传统金融的庞然大物吗？

Let’s dispense with the usual clichés and take a candid look at the clash between these two paradigms.

让我们分开通常的陈词滥调，坦率地看一下这两个范式之间的冲突。

Bitcoin vs banks: a war of architectures

比特币与银行：建筑战争

Bitcoin is based on a peer-to-peer network, without a conductor. It’s a decentralized ledger, secured by miners who aggregate transactions in blocks, forming a chain of trust.

比特币基于无导体的对等网络。这是一个分散的分类帐，由矿工保证，他们在块中汇总交易，形成一系列信任。

Banks, on the other hand, function like centralized cathedrals, where each stone depends on a higher authority. They are institutions supervised by the State, collecting deposits to grant loans.

另一方面，银行的功能像集中的大教堂一样，每块石头都取决于更高的权威。他们是国家监督的机构，收集存款以授予贷款。

This structural divergence explains why Bitcoin appeals to those disillusioned by institutions. It replaces trust in fallible men with irrefutable mathematics.

这种结构上的分歧解释了为什么比特币吸引机构幻灭的人。它取代了对可犯错误的男人的信任，用无法矫正的数学。

In 2021, El Salvador adopted Bitcoin as legal tender, despite warnings from the IMF and World Bank. The result? An economy less dependent on the dollar, but exposed to the cryptocurrency’s volatility.

尽管国际货币基金组织和世界银行警告说，2021年，埃尔·萨尔瓦多（El Salvador）将比特币作为法定货币。结果？经济较少依赖美元，而是暴露于加密货币的波动。

Meanwhile, traditional banks, protected by State safety nets, have withstood the storms and emerged stronger. Bitcoin offers risky freedom; banks, corseted stability.

同时，受国家安全网保护的传统银行经受了风暴的影响，并变得更加强大。比特币提供危险的自由；银行，紧身的稳定性。

Bitcoin handles 7 transactions per second, compared to thousands for Visa or tens of thousands for Starlink. Solutions like Lightning Network are trying to bridge this gap, but the road remains long.

比特币每秒处理7笔交易，而签证或数以万计的星条链接。诸如Lightning Network之类的解决方案试图弥合这一差距，但道路仍然很长。

Banks, despite their touted heaviness, have already mastered the art of massive flows. An advantage that could erode if blockchain technology matures and new use cases emerge.

银行尽管吹捧沉重，但已经掌握了大量流动的艺术。如果区块链技术成熟并出现新的用例，可能会侵蚀的优势。

Bitcoin promises a bank account on a smartphone. Yet, 3 billion people still lack internet access, and in sub-Saharan Africa, only 48% of adults own a mobile phone. Without this digital infrastructure, the dream of inclusion remains a mirage.

比特币承诺在智能手机上提供银行帐户。然而，仍有30亿人缺乏互联网访问，在撒哈拉以南非洲，只有48％的成年人拥有手机。没有这种数字基础设施，包容性的梦想仍然是一个海市rage楼。

Cross-border transfers via Bitcoin cost a few cents, compared to an average of 6% for traditional services. But this saving masks a problem: the volatility of BTC can eliminate gains in just a few hours. Stablecoins like USDC attempt to address this, but their peg to traditional currencies perpetuates dependency on the current system.

通过比特币的跨境转移花费几美分，而传统服务平均为6％。但是这种节省的掩盖是一个问题：BTC的波动性可以在短短几个小时内消除增长。像USDC这样的Stablecoins试图解决这一问题，但它们与传统货币的钉子会永久依赖当前系统。

Security: blockchain vs human psychology

安全：区块链与人类心理学

The Bitcoin blockchain has never been hacked. Its code, open-source and scrutinized by thousands of developers, is a marvel of resilience. But digital wallets, used to store private keys, on the other hand, are vulnerable.

比特币区块链从未被黑客入侵。它的代码是成千上万的开发人员的开源和审查，是一种弹性的奇迹。但是，另一方面，用于存储私钥的数字钱包很脆弱。

In the first quarter of 2025, losses related to cryptocurrency platform hacks reached $1.63 billion. A staggering sum that showcases the urgency of cybersecurity in this rapidly evolving industry.

在2025年第一季度，与加密货币平台黑客攻击有关的损失达到16.3亿美元。在这个迅速发展的行业中，这表明网络安全的紧迫性。

Banks, like Zoom in 2020, spend billions on cybersecurity, yet they still experience regular data breaches and fraud. In 2022, 74% of financial institutions reported an increase in cyberattacks.

像2020年的Zoom一样，银行在网络安全上花费了数十亿美元，但他们仍然会遇到定期的数据泄露和欺诈。 2022年，有74％的金融机构报告说网络攻击有所增加。

Bitcoin eliminates intermediaries, but not human errors. It shifts the burden of vigilance onto the individual.

比特币消除了中介，但没有消除人类错误。它将警惕的负担转移到个人身上。

An advantage of banks is that they offer, at least psychologically, a greater sense of recovery. 20% of bitcoins are locked in inaccessible wallets. A simple USB key misplaced or lost, and fortunes evaporate.

银行的一个优点是，他们至少在心理上提供了更大的康复感。 20％的比特币被锁定在无法访问的钱包中。一个简单的USB密钥放错了或丢失，命运蒸发。

Banks, with their administrative procedures and backup systems, forge a more durable fabric of security, even if it’s an illusion. They offer a psychological resilience that Bitcoin cannot yet provide.

银行凭借其管理程序和备份系统，即使是一种幻想，也可以制造出更耐用的安全结构。他们提供了比特币还无法提供的心理弹性。

Economic stability: the deflationary trap

经济稳定：通缩陷阱

Bitcoin is limited to 21 million units. A scarcity that attracts investors but poses a problem: how to manage an economy without any possibility of monetary adjustment?

比特币仅限于2100万台。吸引投资者但又提出问题的稀缺性：如何在没有任何货币调整的情况下管理经济？

Central banks use inflation or deflation as a lever to steer an economy out of crisis. Bitcoin, on the other hand, imposes a rigidity that may be an advantage in good times, but an unmanageable constraint in bad times.

中央银行使用通货膨胀或通货膨胀作为杠杆，以使经济摆脱危机。另一方面，比特币施加了一种刚性，这在好时期可能是一个优势，但在坏时期内的限制是难以控制的。

In 2024, 60% of BTC holders consider it as “digital gold,” a hedge against inflation. Few use it to buy a coffee or pay their rent daily.

在2024年，60％的BTC持有人认为它是“数字黄金”，这是一种反对通货膨胀的树篱。很少有人用它购买咖啡或每天支付租金。

As long as it remains a speculative asset, its role as a currency for everyday exchanges will remain marginal. But banks, despite their flaws, retain the monopoly on these small, daily transactions.

只要它仍然是投机性的资产，其作为日常交流的货币的作用将保持边际。但是银行尽管存在缺陷，但仍保留了这些小型每日交易的垄断。

BlackRock and JPMorgan are integrating Bitcoin into their funds, but as an investment product, not as a currency for small, daily transactions. A hybrid adoption that reinforces the current system more than it dismantles it.

贝莱德（Blackrock）和摩根大通（JPMorgan）正在将比特币整合到其资金中，但作为投资产品，不是作为每日小型交易的货币。一种混合采用率可增强当前系统的胜利。

The EU adopted MiCA in 2023 to regulate cryptos, and the United States oscillates between the stifling hand of the SEC and the rapid innovation of Web3 startups.

欧盟于2023年通过云母进行了云母，以调节加密货币，美国在SEC的窒息之手和Web3初创公司的快速创新之间振荡。

Without a clear framework for integration, Bitcoin will never supplant banks. But excessive regulation could jeopardize the decentralized essence of BTC and ultimately backfire.

如果没有明确的集成框架，比特币将永远不会取代银行。但是，过度的监管可能会危害BTC的分散本质并最终适得其反。

Bitcoin will not kill banks. It forces them to adapt in an era of hybrid finance, where

比特币不会杀死银行。它迫使他们适应混合金融时代