模因硬币：现代淘金热可能是数字的，但旧的智慧仍然存在

尽管比特币和以太坊等主要的加密货币是设计了特定的技术问题，可以解决和清晰的意识形态，但模因硬币 -

Major cryptocurrencies like Bitcoin and Ethereum were designed with specific technological problems to solve and clear ideologies in mind. On the other hand, meme coins, which are named with an “s” at the beginning and rhyme with “bit” in crypto circles, exist primarily for speculation and amusement.

像比特币和以太坊这样的主要加密货币是针对解决和清晰意识形态的特定技术问题的设计。另一方面，Meme硬币在开始时以“ S”命名，并在加密圆圈中带有“位”押韵，主要是出于猜测和娱乐而存在。

Of the 3700+ meme coins in existence, most have no intrinsic value beyond entertaining their creators and online speculators.

在存在的3700多个模因硬币中，大多数人没有招待创作者和在线投机者的内在价值。

However, their popularity continues to surge among retail investors chasing the next big win, driven by social media hype and the fear of missing out on potential gains.

然而，由于社交媒体炒作的驱使以及害怕错过潜在的收益，他们的散户投资者在追求下一场大胜利的散户投资者中继续受到欢迎。

Warren Buffett, often regarded as the world's greatest investor, described cryptocurrency bluntly as something that “produces nothing”. In his view, it's a game of passing the parcel, where the only way to profit is by selling to “the next person who comes along”.

沃伦·巴菲特（Warren Buffett）经常被视为世界上最伟大的投资者，他直言不讳地将加密货币描述为“什么都没有产生”。他认为，这是一款通过包裹的游戏，唯一的盈利方法是向“下一个来的人”出售。

This perfectly illustrates what economists call the “Greater Fool Theory” – the idea that the price of an asset is determined not by its intrinsic value, but by the expectations that a “greater fool” will pay more for it in the future.

这完美地说明了经济学家所说的“更大的傻瓜理论” - 资产的价格不是由其内在价值决定的，而是由“更大的傻瓜”在将来为其付出更多的想法。

This is something to consider as more Kiwis get drawn into the latest investment crazes.

这是值得考虑的事情，因为更多的猕猴桃被吸引到了最新的投资疯狂中。

The phenomenon of meme stocks, where share prices are driven by social media hype rather than business fundamentals, hasn't gone away either. It's as if the financial markets have developed their own form of viral trends, like what we see on TikTok or Instagram.

股票股票价格是由社交媒体炒作而不是业务基础驱动的，这种现象也没有消失。好像金融市场已经发展了自己的病毒趋势形式，就像我们在Tiktok或Instagram上看到的那样。

But unlike a viral dance challenge that costs nothing to participate in, these trends involve real money and real risks. The volatility in these markets can be extreme, with prices swinging wildly based on nothing more than tweets, Reddit posts, or celebrity endorsements.

但是，与一项病毒舞蹈挑战不同，这些趋势涉及真实的金钱和真正的风险。这些市场的波动性可能是极端的，其价格仅基于推文，reddit帖子或名人代言而疯狂地摇摆。

Take the recent launch of the “Trump Coin” and “Melania Token”. These digital tokens represent a concerning trend where investment decisions are increasingly driven by personality cults rather than sound financial principles.

采用最近发布的“特朗普硬币”和“梅拉尼亚代币”。这些数字代币代表了一个趋势，其中投资决策越来越多地由人格邪教而不是合理的财务原则驱动。

If the crypto world wanted to escape its reputation as an industry of grifters running on nothing but hype, the $Trump and $Melania “meme” coins were a bad start. Within hours of launch, $Trump's value skyrocketed by 600%, reaching a market cap of $32 billion.

如果加密货币世界想逃避其作为一个怪物行业的声誉，那就是炒作，$ trump和$ melania“模因”硬币是一个糟糕的开始。在发布后的几个小时内，$特朗普的价值飙升了600％，达到了320亿美元的市值。

While Trump's personal wealth grew by 89% in just three days, an estimated 77% of coin buyers made less than $100 profit, with just 60 investors pocketing more than $10 million each.

虽然特朗普的个人财富在短短三天内增长了89％，但估计有77％的硬币买家赚取了不到100美元的利润，只有60个投资者赚了超过1000万美元。

The recent HawkTuah coin (yes, the meme coins truly never stop) disaster serves as a stark reminder of how quickly crypto investments can evaporate and have no financial grounding.

最近的Hawktuah Coin（是的，模因硬币确实永远不会停止），这是一个明显地提醒着加密投资能够蒸发且没有财务基础的速度。

When you step back and consider that people invested hard-earned money in a meme coin created off the back of internet stardom from a random street interview, the madness becomes apparent.

当您退后一步，考虑到人们从随机的街头采访中从互联网明星的背后创造的模因硬币中投入了辛苦赚来的钱时，疯狂就显而易见了。

Investors poured money into this hyped-up token and watched their investments disappear almost overnight, leaving nothing but empty digital wallets and harsh lessons about the dangers of following investment trends without proper due diligence.

投资者将资金投入到这个被炒作的代币中，看着他们的投资几乎在一夜之间消失了，除了空无一人的数字钱包和关于不适当尽职调查的投资趋势的危险之外，别无其他。

Stewart Group has been around for 38 years this week – our doors hadn't even been open a year when the stock market crash of 1987 happened. For those Kiwis who also remember that pain or the later finance company collapses of 2006-2008, these new investment fads should be setting off alarm bells.

斯图尔特集团本周已经存在了38年 - 当1987年股市崩溃发生时，我们的门还没有开放。对于那些还记得痛苦或后来的金融公司2006- 2008年崩溃的猕猴桃，这些新的投资时尚应该引起警钟。

The challenge for many Kiwis is navigating this new landscape while staying grounded in financial reality. While the allure of quick profits can be tempting, especially when we see stories of overnight crypto millionaires, the risks often outweigh the potential rewards.

许多新西兰人面临的挑战是在居住在金融现实的同时，在这一新景观中浏览。虽然快速利润的吸引力可能会很诱人，尤其是当我们看到过夜加密百万富翁的故事时，风险通常大于潜在的回报。

The volatility in these markets can be devastating for the unprepared and sophisticated investors looking for “the next thing”, and the lack of regulation means there's little protection when things go wrong.

对于寻找“下一件事”的没有准备的和复杂的投资者来说，这些市场的波动可能是毁灭性的，并且缺乏法规意味着当出现问题时，几乎没有保护。

It's just not worth the risk. So, what's the sensible approach?

只是不值得冒险。那么，明智的方法是什么？

Start with the basics: build an emergency fund, contribute to KiwiSaver, and if you're interested in investing, begin with diversified index funds rather than speculative assets. Would you put your house deposit or retirement savings into a digital token named after a politician? Probably not. So why risk any money you can't afford to lose?

从基本知识开始：建立紧急基金，为Kiwisaver做出贡献，如果您有兴趣投资，请从多元化的指数资金而不是投机资产开始。您会将房屋存款或退休储蓄放入以政客命名的数字代币中吗？可能不是。那么，为什么要冒险损失任何钱呢？

The fundamental principles of sound investing haven't changed – diversification, long-term thinking, and understanding what you're investing in remain crucial.

声音投资的基本原则没有改变 - 多元化，长期思考和理解您投资的内容仍然至关重要。

One thing's for certain – in the game of “Greater Fools”, somebody always has to be the last one holding the worthless asset. It's better to watch from the sidelines than risk becoming that final, greatest fool in a game where the odds are stacked against you.

可以肯定的是 - 在“大傻瓜”游戏中，总是必须是持有毫无价值的资产的最后一个。在场外观看比成为最终，最大的傻瓜在一场比赛中遇到赔率的最大傻瓜要好得多。

The modern gold rush might be digital, but the old wisdom still holds true: all that glitters is not gold, and if something seems too good to be true, it probably is.

现代的淘金热可能是数字化的，但是旧的智慧仍然存在：所有的闪闪发光不是黄金，如果某种东西似乎太好了，那么可能是真实的。