金珉升的 2025 年官方愿望

2024年初，比特币现货ETF获得批准后，比特币迅速开始被机构金融和全球公司采用。

Kim Min-seung's ₿fficial Hopes for 2025

金珉升的₿2025年官方愿望

In early 2024, after the approval of the Bitcoin spot ETF, Bitcoin quickly began to be adopted by institutional finance and global companies. In November 2024, 'Crypto President' Trump was elected as the next president of the United States, and the Democratic Party, which maintained an anti-virtual asset stance, lost its dominance not only in the White House but also in both houses of Congress. In the new year, a 'crypto revolution' led by the U.S. administration and legislature is expected to take off worldwide.

2024年初，比特币现货ETF获得批准后，比特币迅速开始被机构金融和全球公司采用。 2024年11月，“加密货币总统”特朗普当选美国下一任总统，保持反虚拟资产立场的民主党不仅在白宫，而且在国会参众两院都失去了统治地位。新的一年，一场由美国政府和立法机构主导的“加密货币革命”有望在全球掀起。

As a result, in 2025, more people from all walks of life will become interested in virtual assets, both personally and professionally. Here are some summaries that may be helpful for those who are starting to study the virtual asset market and industry in the new year.

因此，到 2025 年，更多的各行各业的人将对虚拟资产产生兴趣，无论是个人还是职业。以下是一些总结，可能对新一年开始研究虚拟资产市场和行业的人有所帮助。

Coins Are Not Bad

硬币并不坏

Before 2024, coins were not recognized as legitimate assets, and everything related to coins was treated as 'bad.' Whether prices went up or down, it was bad. Whether it garnered public attention or not, it was bad. People who got rich from coins were considered bad, and those who lost money were also considered bad.

2024年之前，硬币不被视为合法资产，与硬币相关的一切都被视为“不良资产”。无论价格上涨还是下跌，情况都不好。不管它是否引起了公众的关注，这都是不好的。靠币致富的人被认为是坏人，亏钱的人也被认为是坏人。

Coins are not bad. It's the people who do bad things with coins that are bad. As a relatively new asset class, there isn't much empirical knowledge accumulated, and since it applies cutting-edge technologies like cryptography and distributed computing, the technical understanding is difficult. Scammers sometimes exploit this knowledge gap. However, such scams appear wherever there are advanced technologies, like natural resource development or new drug development in lesser-known countries. Just as natural resource development or new drug development itself isn't bad, coins themselves aren't bad either.

硬币并不坏。那些用硬币做坏事的人才是坏人。作为一个相对较新的资产类别，积累的经验知识不多，而且由于应用了密码学、分布式计算等前沿技术，技术理解难度较大。诈骗者有时会利用这种知识差距。然而，只要有先进技术，比如自然资源开发或鲜为人知的国家的新药开发，此类骗局就会出现。正如自然资源开发或新药开发本身并不坏一样，硬币本身也不错。

There's also a prejudice that coins are heavily used for money laundering and financial crimes. The most used medium for money laundering is not coins but cash. It's the people who launder money and send funds to terrorist organizations using coins that are bad, not the coins themselves. If coins are bad, then cash, dollars, and won should all be considered bad too.

还有一种偏见认为硬币被大量用于洗钱和金融犯罪。洗钱最常用的媒介不是硬币而是现金。那些使用劣质代币洗钱并向恐怖组织发送资金的人，而不是代币本身。如果硬币不好，那么现金、美元和韩元也应该被认为是不好的。

Blockchain is just a neutral technology, and coins are just neutral investment assets. The idea that blockchain and coins themselves are bad is wrong.

区块链只是一种中性的技术，币只是一种中性的投资资产。认为区块链和硬币本身不好的想法是错误的。

Coins Are Not Stocks

硬币不是股票

Many people dismiss coins as a new kind of peculiar stock just because they have fluctuating prices, charts, tickers, and exchanges. This is where most misunderstandings arise. Coins were made to be 'not stocks.' Even Bitcoin, the ancestor of all coins, does not have the characteristics of securities, and since the era of Initial Coin Offerings (ICOs), governments like the U.S. have tried to regulate the coin market by applying securities laws, so coins have focused on removing any characteristics that could be mistaken for securities.

许多人仅仅因为硬币的价格、图表、股票行情和交易所不断波动，就将其视为一种新型的特殊股票。这是大多数误解产生的地方。硬币的目的是“不是股票”。即使是所有硬币的始祖比特币也不具备证券的特征，而自首次代币发行（ICO）时代以来，美国等政府试图通过适用证券法来规范硬币市场，因此硬币主要集中在消除任何可能被误认为是证券的特征。

Those who take on coin-related tasks often have long careers in the securities market. As a result, they consider coins as a type of security and point out things happening in the coin market that would be 'unthinkable if they were stocks.' This is a wrong approach. Coins are not stocks, nor are they securities. They are a completely different asset class created for entirely different purposes and with a completely different history. Approaching coins with the knowledge and biases of domestic stocks traded under regulations honed over decades on a single domestic exchange is not appropriate.

那些从事与硬币相关的工作的人通常在证券市场有很长的职业生涯。因此，他们将硬币视为一种证券，并指出硬币市场上发生的事情“如果它们是股票，那将是不可想象的”。这是错误的做法。硬币不是股票，也不是证券。它们是完全不同的资产类别，为完全不同的目的而创建，并且具有完全不同的历史。以国内股票的知识和偏见来对待硬币是不合适的，而国内股票的交易是根据数十年来在单一国内交易所磨练的法规进行的。

In a Lawless Area, Bad Drives Out Good

法外之地，恶驱逐善

Many problems in the coin market arise from the absence of legislation and regulation. Prohibition and blocking are sufficient. The problem is the lack of legal definitions of 'what can be done.' In our country, many aspects related to coins are in the realm of lawlessness or illegality. Coins resemble finance, and our country's finance operates under a negative regulatory system. In other words, you can't do anything unless it's explicitly allowed.

硬币市场的许多问题都是由于立法和监管的缺失而产生的。禁止和封锁就足够了。问题在于缺乏“可以做什么”的法律定义。在我国，与钱币有关的很多方面都处于不法或违法的境地。硬币类似于金融，而我国的金融是在负向监管体系下运行的。换句话说，除非明确允许，否则你不能做任何事情。

Since 2017, while the government has turned its back with a 'no way' stance, reliable businesses like domestic financial institutions and large corporations have been unable to engage in coin and blockchain-related businesses. Technology companies that tried to lead with their technological prowess were even blocked from cashing out coins. Thus, the domestic blockchain ecosystem is withering day by day.

自2017年以来，虽然政府以“不可能”的立场拒绝了，但国内金融机构和大企业等可靠的企业却无法从事硬币和区块链相关业务。试图凭借技术实力领先的科技公司甚至被禁止兑现代币。由此可见，国内的区块链生态正在日渐衰落。

In the realm of lawlessness and illegality, sound businesses cannot operate, while businesses with suspicious backgrounds enter with a one-time gain in mind. When consumer damage occurs in the virtual asset industry, public opinion worsens, and the industry's social standing weakens further. This is a typical situation where bad drives out good, and it has persisted for a long time.

在不法不法的领域里，健全的企业无法经营，而背景可疑的企业却想一饱眼福。当虚拟资产行业出现消费者损害时，舆论就会恶化，行业的社会地位进一步下降。这是典型的坏事驱逐好事的情况，而且已经持续了很长时间。

Instead of regulations that say 'don't do this,' we need forward-looking guidelines that say 'do it this way.' We must remember that around 2018, major corporations like Samsung, LG, SK, KT, and Lotte completed their own blockchain developments, but there have been no noticeable business achievements since

我们需要的是“这样做”的前瞻性指导方针，而不是“不要这样做”的法规。我们必须记住，2018年前后，三星、LG、SK、KT、乐天等大公司都完成了自己的区块链开发，但此后并没有取得明显的商业成果。