Overton窗口发生了变化 - 这段时间，情况有所不同，但并非以我们预期的方式

比特币的价格超过了100,000美元；我们有一位支持加密货币的总统，但奇怪的是，每个人似乎都很生气。

The recent surge in cryptocurrency prices has sparked a wave of excitement and trepidation within the crypto community. While some revel in the prospect of astronomical gains, others remain skeptical, questioning the sustainability of such a meteoric rise.

最近的加密货币价格上涨引发了加密货币社区内部的兴奋和恐惧。尽管有些人陶醉于天文收益的前景，但其他人仍然怀疑，质疑这种迅速升高的可持续性。

One school of thought maintains that the government's newfound support for cryptocurrencies, coupled with the participation of influential figures like Donald Trump, marks a pivotal shift in the Overton Window. This, they argue, will pave the way for broader acceptance and integration of digital assets into the mainstream.

一所思维学校坚持认为，政府对加密货币的新发现，再加上像唐纳德·特朗普这样的有影响力人物的参与，标志着Overton窗口中的关键转变。他们认为，这将为将数字资产的更广泛接受和集成到主流中铺平道路。

However, a closer examination reveals a more nuanced and potentially troubling reality. While Trump may indeed be "posting promotional content" for cryptocurrencies, his actions also include promoting meme coins that ultimately benefit his family and siphoning capital away from the broader market.

但是，仔细检查揭示了一个更细微的和可能令人不安的现实。尽管特朗普确实可能是“促销内容”的加密货币，但他的行动还包括促进模因硬币，这些硬币最终使他的家人受益，并从更广阔的市场中汲取了资本。

This behavior, while perhaps amusing on the surface, highlights a deeper issue—the lack of clear legal frameworks and oversight within the cryptocurrency domain. This vacuum has allowed some projects to prioritize short-term gains and price manipulation over genuine innovation and user experience.

这种行为虽然在表面上很有趣，但却突出了一个更深层次的问题 - 缺乏明确的法律框架和加密货币领域内的监督。这种真空使一些项目可以优先考虑短期收益和价格操纵，而不是真正的创新和用户体验。

To some extent, this situation has worked in favor of internet enthusiasts like myself. In a bid to boost coin prices and mitigate legal risks, several project teams have engaged in distributing substantial "free funds" to individuals through airdrops.

在某种程度上，这种情况有利于像我这样的互联网爱好者。为了提高硬币价格并减轻法律风险，几个项目团队通过AIRDROPS参与向个人分发大量的“免费资金”。

According to CoinGecko, the total value of the top 50 airdrops has reached an astonishing $26 billion. Given the difficulty in creating truly valuable products within the current environment, we have instead valued these projects based on their aspirations and potential.

根据Coingecko的说法，前50名Airdrops的总价值达到了惊人的260亿美元。考虑到在当前环境中创建真正有价值的产品的困难，我们改为根据其愿望和潜力来重视这些项目。

As a result, we have witnessed a string of curious phenomena. A Layer 1 with minimal users is valued higher than established traditional tech companies; "Ponzi stablecoins" that rely on new capital injections to maintain their value now surpass the GDP of some nations; and the trading price of ape images eclipses that of real estate properties.

结果，我们目睹了一系列奇怪的现象。具有最小用户的第1层的价值高于既定的传统科技公司；依靠新资本注射以维持其价值的“庞氏杆菌”现在超过了某些国家的GDP。猿类图像的交易价格黯然失色。

In essence, the entire cryptocurrency industry is built upon a flawed incentive mechanism. Talking about building something can be just as lucrative as actually doing it. Many of us both criticize this phenomenon and reap its benefits firsthand.

从本质上讲，整个加密货币行业都是建立在有缺陷的激励机制之上的。谈论建造某些东西可能与实际这样做一样有利可图。我们许多人都批评这种现象，并获得了第一手的利益。

But I believe this situation is poised to change. With the government shifting towards support and regulation of cryptocurrencies, we may finally have the opportunity to create serious, practical products for those who genuinely need them.

但是我相信这种情况有望改变。随着政府向加密货币的支持和监管，我们最终可能有机会为那些真正需要它们的人创建认真的实用产品。

This marks a positive development for the industry as a whole, but its implications for us "speculators" remain unclear.

这标志着整个行业的积极发展，但它对我们的“投机者”的影响尚不清楚。

In a world governed by clear legal frameworks that foster true innovation, will innovators continue to dole out "free funds" via airdrops? As the legal landscape becomes more transparent, will an influx of professionals enter the on-chain ecosystem, potentially diluting the current "speculative spirit"?

在一个由促进真正创新的明确法律框架支配的世界中，创新者会继续通过AirDrops淘汰“免费资金”？随着法律格局变得更加透明，专业人士涌入会进入链生态系统，可能稀释当前的“投机精神”？

And what fate awaits those applications that still lack users, despite the crypto projects achieving technological breakthroughs and attracting "real users"? Will we blindly flock to more centralized blockchains as the government pivots from hostility to support?

尽管加密项目实现了技术突破并吸引“真正的用户”，但命运等待着仍然缺乏用户的应用程序？我们会盲目地涌向更集中的区块链，因为政府从敌对向支持的枢纽枢纽？

If the barrier to creating tokens drops to zero, will all tokens be diluted and rendered worthless? As higher-quality applications continue to emerge, will we witness a surge in actual users entering the on-chain economy and spending money? Will this money remain on-chain or be siphoned back into the traditional economy?

如果创建代币的障碍会降至零，那么所有令牌是否会被稀释并毫无价值吗？随着较高质量的应用程序继续出现，我们会目睹进入链经济和花钱的实际用户的激增吗？这笔钱会保留在链上还是被偷偷回到传统经济中？

Ultimately, are we headed towards a scenario akin to Web 2.0, where a handful of companies reap the majority of the profits while other projects pale in comparison?

最终，我们是否朝着类似于Web 2.0的方案，其中少数公司获得了大部分利润，而其他项目则相比之下？

Does your family's future truly hinge on whether you purchased those seven coins? If you miss out on them, will you be condemned to poverty for holding onto Ethereum for too long?

您家人的未来是否真正取决于您是否购买了这七枚硬币？如果您错过了他们，您是否会因太久地抓住以太坊而被谴责贫穷吗？

Will Michael Saylor impulsively decide to sell (FSH) all his Bitcoin? It sounds preposterous, but if it were to happen, we might still end up with nothing.

迈克尔·塞勒（Michael Saylor）会冲动决定出售（FSH）他所有的比特币吗？这听起来很荒谬，但是如果发生这种情况，我们可能仍然一无所获。

What if the Ethereum Foundation abruptly disbands, leaving us to witness Vitalik's erratic creation of a new blockchain driven by his "Milady spirit"?

如果以太坊基金会突然解散，让我们见证了维塔利克（Vitalik）不稳定的创造一个由他的“米拉迪精神”（Milady Spirit）驱动的新区块链呢？

And what if Trump decides to launch an "American chain," airdropping tokens to every citizen while heavily taxing other chains and tokens?

如果特朗普决定推出一条“美国连锁店”，在对其他连锁店和代币征税的同时向每个公民开枪的代币怎么办？

Would these actions propel coin prices to new heights or lead to a market crash?

这些行动会推动硬币价格推高新高度还是导致市场崩溃？

To be honest, I have no answers. This may be the most confusing juncture I've encountered in the past five years.

老实说，我没有答案。这可能是我过去五年来最令人困惑的关头。

The only certainty is that everything will change, and the cryptocurrency landscape four years from now will be vastly different from today.

唯一的确定性是一切都会改变，而从现在开始四年后的加密货币景观将与今天大不相同。

So, how do I打算应对这些变化?

坦白地说，我不聪明；过去几年我足够幸运赚了一些钱。因此，我决定降低投资风险，从加密货币市场中提取一些资金。

我再也无法忍受将 95% 的净资产押注在每隔几年就会暴跌 95% 的“虚拟货币”上。

我实在无法鼓起勇气告诉女友，我把我们的未来都押在了特朗普身上。在此之前，我已经将全部身家都押在了他赢得选举上。

不过，我觉得我未来表现可能会更好。毕竟，现在我知道了，即使自己搞砸了，