贝莱德的比特币 ETF 免责声明引起加密社区的关注

贝莱德为其 iShares BITI ETF 产品发布了一段有关比特币的解释视频，讨论了比特币为何重要、其演变、有限的供应和全球吸引力。

BlackRock has released an explainer video about Bitcoin for its iShares BITI ETF offering, discussing why BTC matters, its evolution, limited supply, and global appeal.

贝莱德为其 iShares BITI ETF 产品发布了一段有关比特币的解释视频，讨论了比特币为何重要、其演变、有限供应和全球吸引力。

However, in the section addressing Bitcoin’s fixed supply, the video included a disclaimer stating that there is no guarantee Bitcoin’s 21 million supply cap will not be changed. This disclaimer has raised eyebrows in the crypto community.

然而，在讨论比特币固定供应量的部分中，视频包含了一条免责声明，指出不能保证比特币 2100 万的供应上限不会改变。这一免责声明引起了加密社区的关注。

Several members of the crypto community are concerned that the message in the BlackRock ad could undermine Bitcoin’s fundamental principles. Sebastian Perez, CEO of Quiverflow Inc., highlighted this issue and pointed out the perceived silence from prominent Bitcoin developers like Adam Back and Peter Todd. According to Perez, Bitcoin’s decentralization and core principles need stronger defense, especially against corporate interests.

加密社区的一些成员担心贝莱德广告中的信息可能会破坏比特币的基本原则。 Quiverflow Inc. 首席执行官 Sebastian Perez 强调了这个问题，并指出 Adam Back 和 Peter Todd 等著名比特币开发商的沉默。佩雷斯认为，比特币的去中心化和核心原则需要更有力的防御，特别是针对企业利益。

“BlackRock ad has a disclaimer that there is no guarantee that Bitcoin’s 21m supply cap won’t be changed. This ad is reaching millions of people and presenting a watered-down version of Bitcoin. Where are the Bitcoin developer outcries? We need to defend Bitcoin’s principles.”

“贝莱德广告中有一项免责声明，即不能保证比特币 2100 万供应上限不会改变。这则广告吸引了数百万人，并展示了比特币的淡化版本。比特币开发商的抗议在哪里？我们需要捍卫比特币的原则。”

Prominent Bitcoin Developer Adam Back Addresses BlackRock Disclaimer

著名比特币开发商 Adam Back 发表贝莱德免责声明

Among the Bitcoin developers who have been actively engaging with the community lately is Adam Back, also the CEO of Blockstream. In response to the controversy surrounding the BlackRock advertisement, Back offered his perspective after reviewing the ad.

最近积极参与社区活动的比特币开发者中有 Adam Back，他也是 Blockstream 的首席执行官。针对围绕贝莱德广告的争议，巴克在看过该广告后提出了自己的观点。

According to Back, the disclaimer is likely included for legal reasons, considering that BlackRock is a financial institution offering investment products and does not have control over Bitcoin’s supply cap. He explained this further in a follow-up comment.

Back 表示，考虑到贝莱德是一家提供投资产品的金融机构，并且无法控制比特币的供应上限，因此包含此免责声明可能是出于法律原因。他在后续评论中进一步解释了这一点。

“Obviously their lawyers made them write that as they sell investment products, and they don’t have control. It’s not like they’re quietly planning to change the Bitcoin supply cap. Get a grip.”

“显然，他们的律师让他们在销售投资产品时这样写，而他们没有控制权。他们并不是在悄悄计划改变比特币的供应上限。抓紧一点。”

In parallel, Back dismissed the idea of changing the supply cap, characterizing the disclaimer as a legal safeguard rather than a real threat to Bitcoin’s integrity. He elaborated on this point in another comment.

与此同时，巴克驳回了改变供应上限的想法，将免责声明描述为一种法律保障，而不是对比特币完整性的真正威胁。他在另一条评论中详细阐述了这一点。

“It’s not like anyone is seriously planning to alter Bitcoin’s supply cap. Get a grip. It’s a legal disclaimer because a financial institution can’t guarantee something like that, which is out of their control. But it’s not like anyone is planning to quietly alter Bitcoin’s supply cap.”

“并不是有人认真计划改变比特币的供应上限。抓住一点。这是一个法律免责声明，因为金融机构无法保证类似的事情，这是他们无法控制的。但这并不是说有人计划悄悄改变比特币的供应上限。”

Contributions from Other Bitcoin Core Developers

其他比特币核心开发人员的贡献

Early Bitcoin contributor Peter Todd also chimed in on the discussion, acknowledging that while the supply cap could technically be altered if the community reached a consensus, this remains an improbable scenario. In addition, he referenced his past writings on the concept of tail emissions.

早期比特币贡献者 Peter Todd 也加入了讨论，他承认，虽然如果社区达成共识，供应上限在技术上可以改变，但这仍然是一种不太可能的情况。此外，他还引用了他过去关于尾部排放概念的著作。

“The supply cap *could* be altered with sufficient community agreement, but that agreement is very unlikely to be forthcoming. (See also my writings on the concept of tail emissions.)”

“如果社区达成足够的协议，供应上限*可以*改变，但该协议不太可能很快达成。 （另请参阅我关于尾部排放概念的著作。）”

Charlie Shrem, founder of The Bitcoin Foundation, argued that Bitcoin’s 21 million supply cap is a core element of its design. He warned that any attempt to change the cap would effectively transform Bitcoin into a completely different cryptocurrency, framing the issue as one of technological architecture rather than politics.

比特币基金会创始人 Charlie Shrem 认为，比特币 2100 万的供应上限是其设计的核心要素。他警告说，任何改变上限的尝试都将有效地将比特币转变为一种完全不同的加密货币，并将该问题视为技术架构而非政治问题。

“Bitcoin’s 21m supply cap is a core design element & unchangeable without rendering BTC a new cryptocurrency. Attempts to alter the supply cap are not a matter of politics but of technological architecture. Stop the FUD. Bitcoin will remain sound money.”

“比特币的 2100 万供应上限是一个核心设计元素，并且在不使 BTC 成为新的加密货币的情况下无法改变。改变供应上限的尝试不是政治问题，而是技术架构问题。停止 FUD。比特币仍将是稳健的货币。”

In response to Shrem, Back reiterated that the disclaimer is a legal precaution. He reassured the community that Bitcoin’s decentralized nature makes such a change highly unlikely without universal consensus.

在回应施雷姆时，巴克重申免责声明是一种法律预防措施。他向社区保证，如果没有普遍共识，比特币的去中心化性质使得这种改变极不可能发生。

“The disclaimer is a legal precaution. It’s sound money because any attempt to alter Bitcoin’s supply cap would require decentralized agreement, which is highly unlikely. It’s not like anyone can quietly alter Bitcoin’s supply cap without universal consensus.”

“免责声明是一种法律预防措施。这是稳健的货币，因为任何改变比特币供应上限的尝试都需要去中心化协议，而这是极不可能的。在没有达成普遍共识的情况下，并不是任何人都可以悄悄改变比特币的供应上限。”

Tether’s Javier Bastardo Agrees with BlackRock Disclaimer, Despite Possibility of Altering Supply Cap Being ‘Very Remote’

Tether 的哈维尔·巴斯塔多 (Javier Bastardo) 同意贝莱德的免责声明，尽管改变供应上限的可能性“非常遥远”

Finally, Javier Bastardo, marketing lead at stablecoin issuer Tether, also commented on the matter, arguing that the disclaimer included in the BlackRock ad simply reflects the reality of the situation. While he agreed that altering Bitcoin’s supply cap is highly unlikely, he noted that it is still technically possible.

最后，稳定币发行商 Tether 的营销主管 Javier Bastardo 也对此事发表了评论，认为贝莱德广告中的免责声明只是反映了现实情况。虽然他同意改变比特币的供应上限的可能性极小，但他指出这在技术上仍然是可能的。

“The BlackRock ad disclaimer is stating the obvious. Altering Bitcoin’s supply cap is very remote, but it’s not impossible. Any large enough decentralized community can alter the rules if they reach a consensus. Like the recent Taproot activation.”

“贝莱德的广告免责声明陈述了显而易见的事实。改变比特币的供应上限虽然非常遥远，但并非不可能。任何足够大的去中心化社区如果达成共识都可以改变规则。就像最近的 Taproot 激活一样。”