中国的比特币闪电战：一场惨痛的胜利

中国最近对比特币挖矿和交易的打击对加密货币市场产生了重大影响。国家大部分地区禁止挖矿，导致网络算力下降50%，并出现有史以来最大的单次挖矿难度调整。政府还从网络搜索结果中屏蔽了加密货币交易，限制杠杆交易，并指示银行关闭场外交易银行账户。这些措施导致比特币价格下跌，并引发了人们对可能发生 51% 算力攻击的担忧。然而，尽管中国发起攻势，比特币网络和价格的恢复情况却比许多人预期的要好。算力已反弹至1亿TH/s，点对点交易仍在进行。亚洲交易所仍然主导着现货交易量，并且有迹象表明场外交易正在寻找新的支付网关和路线。

China's Coordinated Attack on Bitcoin: A Pyrrhic Victory

中国对比特币的协同攻击：一场惨痛的胜利

In an unprecedented move, China has launched a relentless assault on Bitcoin's mining industry and cryptocurrency exchanges. Amidst concerns of a potential 51% hash rate attack, the market witnessed a steep decline in Bitcoin's price. However, despite the government's concerted efforts, the latest developments suggest that China's offensive has ultimately failed to deliver a decisive blow to the Bitcoin network.

中国采取了前所未有的举措，对比特币挖矿业和加密货币交易所发起了无情的攻击。由于担心潜在的 51% 算力攻击，市场见证了比特币价格的急剧下跌。然而，尽管政府做出了共同努力，但最新事态发展表明，中国的攻势最终未能对比特币网络造成决定性打击。

China's Three-Pronged Attack

中国三管齐下的进攻

China's crackdown on Bitcoin began in May 2021, with a ban on mining in most regions. This abrupt move, coupled with Elon Musk's decision to suspend Tesla's acceptance of Bitcoin payments, sent shockwaves through the cryptocurrency community. The subsequent blocking of cryptocurrency exchanges from web search results, limiting of leveraged trading, and banning of social networking accounts further intensified the government's campaign against Bitcoin.

中国对比特币的打击始于2021年5月，大部分地区禁止挖矿。这一突然的举动，加上埃隆·马斯克决定暂停特斯拉接受比特币支付，在加密货币社区引起了轩然大波。随后从网络搜索结果中屏蔽加密货币交易、限制杠杆交易以及禁止社交网络账户，进一步加剧了政府针对比特币的打击力度。

Short-Term Success, Long-Term Failure

短期成功，长期失败

Initially, China's actions seemed to achieve their intended effect. Bitcoin's price plummeted, and the network hash rate, a measure of the total mining power, reached its lowest level in two years. However, in a remarkable turn of events, the hash rate has since rebounded to 100 million TH/s, demonstrating the resilience of the Bitcoin network.

起初，中国的行动似乎达到了预期效果。比特币价格暴跌，网络算力（衡量总算力的指标）达到两年来的最低水平。然而，事态发生了显着的转变，算力此后反弹至 1 亿 TH/s，证明了比特币网络的弹性。

Moreover, despite the ban on exchanges, peer-to-peer (p2p) trading remains active in China. Individuals have stepped up as intermediaries, facilitating Bitcoin transactions and bypassing government restrictions. This grassroots activity ensures that Bitcoin remains accessible to Chinese investors and undermines the government's attempts to suppress its use.

此外，尽管交易所被禁止，但点对点（p2p）交易在中国仍然活跃。个人已经成为中间人，促进比特币交易并绕过政府限制。这种草根活动确保了中国投资者仍然可以获得比特币，并破坏了政府压制其使用的企图。

Asian Exchanges Maintain Dominance

亚洲交易所保持主导地位

Despite the crackdown, Asian-based cryptocurrency exchanges, such as Binance, OKEx, and Huobi, continue to dominate spot trading volume. This indicates that Chinese entities are finding ways to trade Bitcoin, even after the government's ban on exchanges. The dominance of these exchanges suggests that China's efforts to isolate its citizens from the global cryptocurrency market have been unsuccessful.

尽管受到打击，币安、OKEx 和火币等亚洲加密货币交易所仍继续主导现货交易量。这表明，即使在政府禁止交易所之后，中国实体仍在寻找交易比特币的方法。这些交易所的主导地位表明，中国将其公民与全球加密货币市场隔离的努力并不成功。

OTC Transactions Filling the Gap

场外交易填补空白

While the exact extent of over-the-counter (OTC) transactions in China is difficult to quantify, it is clear that these intermediaries are playing a crucial role in facilitating Bitcoin trading. OTC desks provide alternative channels for converting fiat currency into stablecoins, enabling Chinese investors to continue transacting on foreign exchanges.

虽然中国场外交易（OTC）的确切规模很难量化，但很明显，这些中介机构在促进比特币交易方面发挥着至关重要的作用。场外交易柜台提供了将法定货币转换为稳定币的替代渠道，使中国投资者能够继续进行外汇交易。

Conclusion: A Limited Impact

结论：影响有限

Despite China's concerted efforts to undermine Bitcoin, the network and its price have demonstrated remarkable resilience. The rebounding hash rate, the continued activity of p2p marketplaces, and the dominance of Asian exchanges indicate that the Chinese government's offensive has failed to achieve its primary objectives. While some temporary hiccups and price fluctuations were experienced, the long-term impact of China's actions appears to be minimal.

尽管中国齐心协力破坏比特币，但该网络及其价格却表现出了非凡的弹性。哈希率的反弹、p2p 市场的持续活跃以及亚洲交易所的主导地位表明，中国政府的攻势未能实现其主要目标。尽管经历了一些暂时的问题和价格波动，但中国行动的长期影响似乎很小。

The Bitcoin network has proven to be highly adaptable, effectively absorbing the shockwaves of the government's crackdown. As Bitcoin continues to evolve and gain wider acceptance, the efforts of any single government to stifle its growth are likely to prove futile.

事实证明，比特币网络具有很强的适应性，可以有效地吸收政府镇压的冲击波。随着比特币不断发展并获得更广泛的接受，任何单一政府遏制其增长的努力都可能被证明是徒劳的。