加密货币兑美元

加密货币有多种形式。比特币是最著名的，还有许多其他的名字，例如以太坊、Ripple、Stellar Loomis、EOS 和 Lightcoin 等。目前估计有 10,000 种加密货币。

Cryptocurrency, in its many forms, has taken the world by storm. While Bitcoin may be the most well-known cryptocurrency, there are countless others, including Ethereum, Ripple, Stellar Loomis, EOS and Lightcoin, to name a few. In total, there are an estimated 10,000 cryptocurrencies in existence today.

多种形式的加密货币席卷了世界。虽然比特币可能是最著名的加密货币，但还有无数其他加密货币，包括以太坊、Ripple、Stellar Loomis、EOS 和 Lightcoin 等。目前估计总共有 10,000 种加密货币。

Cryptocurrency is designed to be accessible anywhere and everywhere there is internet. It’s not controlled by any one government and is instead “mined” using mathematical formulas, a process known as block chain technology. According to Wikipedia, “A cryptocurrency is a digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.”

加密货币被设计为可以在任何有互联网的地方使用。它不受任何一个政府控制，而是使用数学公式“开采”，这一过程称为区块链技术。根据维基百科的说法，“加密货币是一种数字资产，旨在作为交换媒介，使用强大的加密技术来保护金融交易、控制额外单位的创建并验证资产的转移。”

As a currency, cryptocurrency does meet some of the characteristics required of a medium of exchange. A currency must be hard to replicate, be divisible, recognizable, have uniformity, be portable, have acceptability and maintain a store of value. When it comes to the first six characteristics, crypto coins could be said to fit the bill nicely. However, I have issues with the last characteristic: maintaining a store of value.

作为一种货币，加密货币确实满足了交换媒介所需的一些特征。货币必须难以复制、可分割、可识别、具有统一性、可携带、具有可接受性并具有价值储存功能。当谈到前六个特征时，加密货币可以说非常符合要求。然而，我对最后一个特征有疑问：维持价值储存。

It goes without saying that at times, the price of cryptocurrency can vary tremendously. Lately, that has been an understatement.

不言而喻，有时加密货币的价格可能会有很大差异。最近，这已经是轻描淡写了。

Stories of skyrocketing prices and subsequent roller coaster-like plunges are common. Bitcoin itself briefly breached $100,000.00 a coin just a few weeks ago.

价格飙升和随后的过山车式暴跌的故事很常见。就在几周前，比特币本身一度突破了 100,000 美元。

Although a rising price may convince some investors to believe crypto might make an acceptable currency replacement, the very fact it often moves so violently violates the store of value characteristic a usable currency must possess.

尽管价格上涨可能会让一些投资者相信加密货币可能成为可接受的货币替代品，但它经常剧烈波动的事实违反了可用货币必须具备的价值存储特征。

Store of value means both the buyer and seller of the currency must have faith in its stability. Stability means it doesn’t go up or down much. Certainly the buyer of crypto relishes the meteoric rise when it occurs, but like all things money, there is always someone else on the other side of the trade.

价值储存意味着货币的买家和卖家都必须对其稳定性有信心。稳定性意味着它不会大幅上涨或下跌。当然，加密货币的买家在价格飞速上涨时会感到高兴，但就像所有金钱一样，交易的另一边总是有其他人。

If a buyer of crypto makes an overnight fortune on a price spike, the seller of that very same crypto loses an equal amount in value.

如果加密货币的买家因价格飙升而一夜暴富，那么该加密货币的卖家就会损失等量的价值。

To buy crypto, one must have exchanged something else for it.

要购买加密货币，必须用其他东西来交换。

For example, if it is another currency that is exchanged, the person who sold the crypto now holds a currency that has fallen in value by an equal amount.

例如，如果交换的是另一种货币，那么出售加密货币的人现在持有的货币已经贬值了等量。

Given the recent price instability of Bitcoin, the very definition of maintaining a store of value is almost nonexistent and therefore, at this place in time, Bitcoin cannot be considered a usable currency replacement.

鉴于比特币最近的价格不稳定，维持价值储存的定义几乎不存在，因此，在此时此刻，比特币不能被视为可用的货币替代品。

Another attraction of crypto is the fact no one or no one government can shut it down. Again from Wikipedia: “It is a decentralized digital currency without a central bank or single administrator………….”

加密货币的另一个吸引力在于，没有人或没有政府可以将其关闭。再次来自维基百科：“它是一种去中心化的数字货币，没有中央银行或单一管理员…………。”

Since the internet is worldwide and unstoppable, the thinking goes that crypto coins can’t be confiscated by meddling governments.

由于互联网是全球性的且不可阻挡，人们认为加密货币不能被干预的政府没收。

However, governments of the world don’t have to confiscate cryptocurrencies to stop their usage. All they have to do is shut down the exchange websites that trade them. Sounds unlikely but many countries have already done so.

然而，世界各国政府不必没收加密货币来停止其使用。他们所要做的就是关闭交易它们的交易所网站。听起来不太可能，但许多国家已经这样做了。

Quite simply, if your country of residence decides it doesn’t want you trading crypto, it can shut down all the ways you can access it.

很简单，如果您的居住国决定不希望您交易加密货币，它可以关闭您访问加密货币的所有方式。

Internet workarounds are certainly possible, but to the average Joe, cyberspace backdoors may be difficult to access.

互联网解决方法当然是可能的，但对于普通人来说，网络空间后门可能很难访问。

Central governments will always strive to maintain strict controls over their respective currencies to ensure their viability.

中央政府将始终努力保持对各自货币的严格控制，以确保其生存能力。

A country’s currency is the lifeblood of their economy, so controlling it ensures the ability to use the government check book, which means the ability to deficit spend without restriction.

一个国家的货币是其经济的命脉，因此控制它可以确保使用政府支票簿的能力，这意味着不受限制的赤字支出的能力。

History has proven time and time again a government will ensure its currency remains valid and is not usurped by another. This would obviously include curtailing the use of Bitcoin or any other currency whose ownership becomes too widespread.

历史一次又一次证明，政府将确保其货币保持有效且不被其他国家篡夺。这显然包括限制比特币或任何其他所有权过于广泛的货币的使用。

That said, to say central governments aren’t fully aware of the threat crypto coins may present to their specific currencies would be more than naive.

也就是说，如果说中央政府没有完全意识到加密货币可能对其特定货币构成的威胁，那就太天真了。

The U.S. government is already looking into issuing its own version of a cyber coin called the Central Bank Digital Currency (CBDC). President-elect Trump has also indicated the U.S. government is looking to expand its control of the Bitcoin market by establishing a Bitcoin reserve of its own.

美国政府已经在考虑发行自己版本的网络货币，称为中央银行数字货币（CBDC）。当选总统特朗普还表示，美国政府正在寻求通过建立自己的比特币储备来扩大对比特币市场的控制。

The U.S. is not alone. The issue is being discussed among central banks worldwide.

美国并不孤单。世界各国央行正在讨论这个问题。

That said, in this analyst’s opinion, it’s only a matter of time before governments bring down a harder hammer on the entire cyber coin phenomenon in order to ensure continued control of all things money.

也就是说，在这位分析师看来，政府对整个网络货币现象进行更严厉的打击以确保对所有货币的持续控制只是时间问题。

“Watching the markets so you don’t have to”

“观察市场，这样你就不必了”

This article expresses the opinion of Marc Cuniberti and is not meant as investment advice, or a recommendation to buy or sell any securities, nor represents the opinion of any bank, investment firm or RIA, nor this media outlet, its staff, members or underwriters. Mr. Cuniberti holds a B.A. in Economics with honors,

本文表达 Marc Cuniberti 的观点，并不构成投资建议或购买或出售任何证券的建议，也不代表任何银行、投资公司或 RIA、本媒体、其工作人员、成员或承销商的意见。 Cuniberti 先生以优异的成绩获得经济学学士学位，