巨大的加密抑郁症：行业如何失去自己的方式，以及是否可以重新发现其理想主义以使自己的魔力恢复原状

对于那些在早期时代中年龄来的加密粉丝来说 - 回到比特币要去银行货物，没有银行账户并停止所有战争，甚至在ICO繁荣期间，当碳信用额和破坏牙科时，随着财务的未来，比特币时期是在ICO繁荣时期的，这 - 最后几年都令人难以置信的令人沮丧。

For crypto fans who came of age during earlier eras – back when Bitcoin was going to bank the unbanked and stop all war, or even during the ICO boom when tokenizing carbon credits and disrupting dentistry were touted as the future of finance – the last couple of years have been incredibly depressing.

对于那些在早期时代成年的加密粉丝来说 - 回到比特币要去银行货物，没有银行账户并停止所有战争，甚至在ICO繁荣期间，当碳信用额和牙科的破坏时，随着财务的未来，这是一个令人难以置信的令人沮丧的。

On the one side, some Bitcoiners who used to want to smash the unfair financial and banking system now cheer the world’s biggest banks and governments for gobbling up an increasing percentage of the supply.

一方面，一些曾经想粉碎不公平金融和银行系统的比特币现在为全球最大的银行和政府加油助威，以弥补供应量的越来越多。

And on the other side, there’s the financial nihilism of memecoin trading, where nothing of value is built or created – just a production line designed to extract as much cash as possible from retail. The vast majority of Pump.fun users, 99.6%, haven’t even made $10,000 on the site.

另一方面，有纪念品交易的财务虚无主义，那里没有建造或创造价值 - 只是旨在从零售中提取尽可能多现金的生产线。绝大多数泵。FUN用户（99.6％）甚至没有在网站上赚取10,000美元。

Ethereum creator Vitalik Buterin has always believed crypto can make the world a better place but seemed to have a crisis of faith back in February about where the industry was headed.

以太坊的创造者维塔克·布特林（Vitalik Buterin）一直认为加密货币可以使世界变得更美好，但似乎在2月对行业的前进方向遇到了信心危机。

“Do I feel good when I hear people from crypto twitter and VC firms telling me that PvP KOL degen casino that’s money-losing for >99% of its own users is the best product market fit that crypto is going to get, and it’s ‘condescending and elitist’ to wish for something better?” he asked.

“当我听到Crypto Twitter和VC公司的人们告诉我，PVP KOL DEGEN赌场（以少99％的用户为单位）是Crypto将要获得的最佳产品市场，这是“居高不下和精英人士”希望获得更好的产品吗？”他问。

So how did crypto lose its way, and does the industry need to rediscover idealism and big dreams to get its mojo back?

那么，加密货币是如何迷失方向的，该行业需要重新发现理想主义和大梦想才能使自己的魔力恢复吗？

Peace, love and crypto’s anarcho-capitalists

和平，爱与加密货币主义者

The early days of crypto were infused with a much greater sense of purpose than today, says Scott Melker, better known as the Wolf of All Streets.

斯科特·梅尔克（Scott Melker）说，加密货币早期的目的感比今天更有目的感。

“Early cypherpunks were true libertarians who deeply believed that money and the government were broken and that Bitcoin and blockchain technology could fix them,” Melker tells Magazine.

梅尔克对杂志说：“早期的cypherpunk是真正的自由主义者，他们深信资金和政府被损坏，比特币和区块链技术可以修复它们。”

Those who clocked up many hours in IRC channels in the early days will recall the passionate arguments that raged between the crypto-anarchists and the leftists, not to mention the endless flames wars on forums like Bitcointalk.

那些在早期在IRC频道上播放了很多小时的人会回想起加密党派人士和左派人士之间激烈的争论，更不用说像BitCointalk这样的论坛上无尽的火焰大战了。

According to Melker, the crypto-anarchists, such as the founders of Bitcoin and early miners, were driven by a vision of a decentralized society free from government control. They saw Bitcoin as a way to create a parallel financial system that would give individuals the power to opt out of the existing system.

根据梅尔克（Melker）的说法，像比特币和早期矿工的创始人一样，加密货币主义者是由一个不受政府控制权的分散社会的愿景所驱动的。他们将比特币视为创建平行金融系统的一种方式，该系统将使个人能够选择退出现有系统。

“On the other hand, the leftists were interested in using blockchain technology to solve social and economic problems such as inequality, poverty and environmental degradation,” he says. “They saw crypto as a way to create a more just and sustainable world.”

他说：“另一方面，左派人士有兴趣使用区块链技术解决社会和经济问题，例如不平等，贫困和环境退化。” “他们将加密货币视为创造一个更公正和可持续的世界的一种方式。”

Both groups were united in their belief that crypto had the potential to fundamentally change the world for the better.

两组都团结一致，认为加密有可能使世界变得更好地改变世界。

Among the early crowd were also a small number of socialists, who saw crypto as a way to create a more equitable society. They were particularly interested in the potential of decentralized autonomous organizations (DAOs) to give workers control over the means of production.

在早期的人群中，还有少数社会主义者，他们将加密货币视为建立更公平的社会的一种方式。他们对分散自治组织（DAOS）的潜力特别感兴趣，以使工人控制生产资料。

“It is a testament to the technological prowess and promise of this nascent asset class that all of these philosophies saw elements of what they cared about in the decentralized protocol technology, because it was flexible enough and powerful enough to build anything on top of it despite the fact that the protocols started very simply with a blockchain, a smart contract and a token,” adds Bitfinex chief technology officer Paolo Ardoino.

“这证明了这种新生资产类别的技术实力和希望，所有这些哲学都看到了他们在分散协议技术中所关心的内容的要素，因为它足够灵活，足够强大，足以在其上构建任何事实，尽管协议以非常简单的范围开始，这是一个非常简单地开始了一个聪明的合同，智能合同和象征，” Bitfine of bitfine of bitfine capito ando ando ando ando ando ando ando ando ando arodo arodo arodo arodo arodo arodo arodo arodo ardo。

“It is also interesting to note that, despite the fact that there were more pressing issues at hand, such as the global financial crisis and climate change, these early adopters chose to dedicate their time and energy to developing this new technology that they believed in wholeheartedly.”

“还有趣的是，尽管手头上还有更多紧迫的问题，例如全球金融危机和气候变化，但这些早期采用者还是选择花费时间和精力来开发这项全心全意地相信这项新技术。”

However, Ardoino says that while there are still plenty of true believers building in crypto today, their idealism has been “overshadowed by speculation.”

但是，阿多利诺说，尽管当今的加密货币仍然有很多真正的信徒，但他们的理想主义“被猜测掩盖了”。

“From the beginning, blockchain was about financial inclusion, self-sovereignty and breaking free from the limitations of the traditional financial system,” he explains. “But as the market grew, speculation took center stage, and for many, crypto became just another casino rather than a tool for empowerment.

他解释说：“从一开始，区块链就是关于金融包容性，自我主张和摆脱传统金融体系的局限性的原因。” “但是随着市场的发展，人们的猜测是中心阶段，而对于许多人来说，加密货币只是另一个赌场，而不是赋予能力的工具。

“We’ve seen this shift in the types of coins and projects that are being developed and funded. Where once the focus was on innovation and solving real-world problems, now the emphasis seems to be on quick profits and exploiting market trends.”

“我们已经看到了正在开发和资助的硬币和项目类型的转变。一旦重点放在创新和解决现实世界中的问题上，现在重点似乎是在快速利润和利用市场趋势上。”

The ICO era was 99% memes, but 1% pure gold

ICO时代是99％的模因，但1％纯金

Yet, both idealism and mercenary financial speculation have existed side by side throughout crypto’s history. In many ways, the initial coin offering boom in 2018 foreshadowed the memecoin frenzy, given many projects were little more than a half-baked idea (or meme) spun into a white paper and presentation that earned millions.

然而，在加密货币的历史中，唯心主义和雇佣军财务投机都并排存在。从许多方面来说，2018年最初的硬币提供了繁荣，预示了Memecoin Frenzy，因为许多项目仅超过了一个半熟的想法（或模因），旋转成白皮书和呈现，并赢得了数百万美元。

It was often cynical and exploitative, with many ICO founders frittering the money away before they’d even built a minimal viable product. ICO mills sprung up to

这通常是愤世嫉俗和剥削性的，许多ICO创始人在建造最小的可行产品之前就浪费了钱。 ICO Mills突然出现