唐纳德·特朗普就任总统，计划使美国成为世界比特币矿业之都

许多人都在庆祝比特币作为战略储备资产的想法。 Michael Saylor、Tether 和其他大型机构参与者等支持者认为，这是一项里程碑式的成就，加强了比特币作为合法价值储存手段的地位。

Donald Trump has assumed office with plans to make the United States the world's bitcoin mining capital, a move that is being celebrated by many as bitcoin's role as a Strategic Reserve Asset (SRA) becomes increasingly clear.

唐纳德·特朗普上任后计划让美国成为世界比特币挖矿之都，随着比特币作为战略储备资产（SRA）的角色变得越来越清晰，这一举措受到许多人的欢迎。

Institutions like Tether are profiting massively from this development, with reports indicating that Tether's Q3 2024 earnings have surpassed even those of financial giants like BlackRock. Tether's earnings, largely driven by its investments in U.S. Treasury securities, are providing a crucial buffer for regions grappling with the brunt of imported inflation.

Tether 等机构正从这一发展中获得巨额利润，有报告显示，Tether 2024 年第三季度的盈利甚至超过了贝莱德等金融巨头。 Tether 的盈利主要是由其对美国国债的投资推动的，为应对输入性通胀冲击的地区提供了重要的缓冲。

However, this growing institutionalization also carries the risk of compromising bitcoin's original ethos as "freedom money." Its decentralization and censorship resistance properties could be eroded under the weight of regulatory and economic control.

然而，这种不断发展的制度化也带来了损害比特币作为“自由货币”的原始精神的风险。在监管和经济控制的重压下，其去中心化和抗审查特性可能会受到削弱。

Trump's administration has framed bitcoin mining as a national priority, highlighting the finite capacity of bitcoin blocks that limits the number of transactions. This provides an opportunity for the U.S. to assert dominance in the "block space," influencing transaction censorship via compliance with Office of Foreign Assets Control (OFAC) sanctions or other regulatory tools.

特朗普政府将比特币挖矿列为国家优先事项，强调比特币区块的有限容量限制了交易数量。这为美国提供了在“区块空间”占据主导地位的机会，通过遵守外国资产控制办公室 (OFAC) 制裁或其他监管工具来影响交易审查。

There is already a precedent for such control. In 2021, Marathon attempted to mine "OFAC-compliant" blocks, filtering transactions from sanctioned entities. More recently, mining pools like F2Pool have been flagged for possibly excluding sanctioned transactions.

这种控制已经有先例。 2021 年，Marathon 尝试挖掘“OFAC 合规”区块，过滤来自受制裁实体的交易。最近，鱼池等矿池被标记为可能排除受制裁的交易。

Trump's push for mining dominance could pave the way for institutionalizing these practices, using tools like the Bank Secrecy Act and FATF recommendations that promote widespread KYC and classify wallet software as Crypto Asset Service Providers.

特朗普推动矿业主导地位可能会为这些做法的制度化铺平道路，使用《银行保密法》和 FATF 建议等工具促进广泛的 KYC 并将钱包软件归类为加密资产服务提供商。

U.S. regulations often set the tone for the international community, especially in financial systems. For instance, the FATF's global anti-money laundering standards reflect U.S. priorities, and its recommendations have influenced crypto regulations worldwide.

美国的监管常常为国际社会定下基调，尤其是在金融体系方面。例如，FATF 的全球反洗钱标准反映了美国的优先事项，其建议影响了全球的加密货币监管。

Trump's administration could use bitcoin mining dominance to propagate a framework that aligns with U.S. geopolitical goals. Former White House cybersecurity advisor Carol House suggested in a 2023 talk that network-level censorship could serve national interests, hinting at the potential to regulate bitcoin under the guise of national security.

特朗普政府可以利用比特币挖矿的主导地位来宣传符合美国地缘政治目标的框架。前白宫网络安全顾问卡罗尔·豪斯 (Carol House) 在 2023 年的一次演讲中表示，网络级审查可以服务于国家利益，暗示有可能以国家安全为幌子监管比特币。

The United States has a history of extending its financial jurisdiction beyond its borders to combat illicit activities. For example, in January 2023, the U.S. Department of the Treasury's Financial Crimes Enforcement Network identified Bitzlato Limited, a Hong Kong-registered cryptocurrency exchange, as a "primary money laundering concern" due to its connections with Russian illicit finance.

美国有着将其金融管辖权扩展到境外以打击非法活动的历史。例如，2023 年 1 月，美国财政部金融犯罪执法网络将在香港注册的加密货币交易所 Bitzlato Limited 认定为“主要洗钱问题”，因为该公司与俄罗斯非法金融有联系。

This designation led to prohibitions on certain fund transmittals involving Bitzlato by any covered financial institution, effectively restricting its operations on a global scale.

这一指定导致任何受管辖金融机构禁止涉及 Bitzlato 的某些资金传输，从而有效限制了其在全球范围内的运营。

In March 2023, U.S. and German authorities shut down ChipMixer, a cryptocurrency service that allegedly laundered over $3 billion in crypto assets since 2017. ChipMixer was reportedly used by ransomware groups, suspected North Korean hackers, and darknet market users to conceal the origins of illicit funds. These actions demonstrate how the U.S. extends its regulatory reach to enforce financial laws internationally.

2023 年 3 月，美国和德国当局关闭了 ChipMixer，这是一项加密货币服务，据称自 2017 年以来洗钱超过 30 亿美元。据报道，勒索软件组织、疑似朝鲜黑客和暗网市场用户利用 ChipMixer 隐瞒非法资金的来源。资金。这些行动展示了美国如何扩大其监管范围以在国际上执行金融法。

Advocates of bitcoin's role as an SBR, like Senator Cynthia Lummis, tout it as a solution to U.S. economic challenges, claiming it could "address a meaningful portion of our debt" and strengthen global positioning.

比特币作为 SBR 角色的倡导者，比如参议员辛西娅·鲁米斯 (Cynthia Lummis)，将其吹捧为应对美国经济挑战的解决方案，声称它可以“解决我们债务的重要部分”并加强全球地位。

Michael Saylor's proposals go even further, suggesting the U.S. government should acquire 20-25% of bitcoin to "control the world reserve capital network." Saylors Digital Assets Framework highlights the role of criminal liability in enforcing compliance and transparency, ensuring participants adhere to legal and ethical standards while minimizing fraud and misconduct.

Michael Saylor 的提议更进一步，建议美国政府应该收购 20-25% 的比特币，以“控制世界储备资本网络”。 Saylors 数字资产框架强调了刑事责任在加强合规性和透明度方面的作用，确保参与者遵守法律和道德标准，同时最大限度地减少欺诈和不当行为。

Such frameworks could be used to strengthen centralization, potentially solidifying the U.S.'s grip on bitcoin and transforming it from an open, neutral network into a tool of statecraft.

此类框架可用于加强集中化，有可能巩固美国对比特币的控制，并将其从开放、中立的网络转变为治国工具。

This narrative conceals the dangers of institutionalizing bitcoin. Saylor has acknowledged the risks associated with non-compliance to regulatory standards, stating: "I think that when bitcoin is held by a bunch of crypto-anarchists who aren’t regulated entities, who don’t acknowledge government or don’t acknowledge taxes or don’t acknowledge reporting requirements, that increases the risk of seizure."

这种叙述掩盖了比特币制度化的危险。塞勒承认与不遵守监管标准相关的风险，他表示：“我认为，当比特币由一群不受监管的加密无政府主义者持有时，他们不承认政府或不承认税收或者不承认报告要求，这会增加癫痫发作的风险。”

This perspective aligns with moves like Lummis's 2023 amendment to the National Defense Authorization Act, targeting anonymous transactions and asset mixers, and shows how the SRA framework could enforce stringent oversight, reducing bitcoin's utility as a censorship-resistant currency.

这一观点与 Lummis 2023 年国防授权法修正案等举措一致，该修正案针对匿名交易和资产混合，并展示了 SRA 框架如何实施严格的监督，降低比特币作为抗审查货币的效用。

While bitcoin's role as an SBR gains attention, stablecoin giant Tether operates in parallel, profiting immensely from global instability. According to reports, Tether's Q3 2024 earnings surpassed even those of financial giants like BlackRock.

虽然比特币作为 SBR 的作用受到关注，但稳定币巨头 Tether 也在并行运作，从全球不稳定中获利巨大。据报道，Tether 2024 年第三季度的盈利甚至超过了贝莱德等金融巨头。

Tether's earnings, largely driven by its investments in U.S. Treasury securities, are providing a crucial buffer for regions grappling with the brunt of imported inflation. These

Tether 的盈利主要是由其对美国国债的投资推动的，为应对输入性通胀冲击的地区提供了重要的缓冲。这些