标题: 20221118 加密货币能否度过最近的寒冬？ [打印本页] 作者: shiyi18 时间: 2023-11-15 09:49 标题: 20221118 加密货币能否度过最近的寒冬？ The World Ahead
| The World Ahead 2023
Can crypto survive its latest winter?
Finding a real use for it would help
Nov 18th 2022
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By Alice Fulwood: Wall Street correspondent, The Economist, New York
What does crypto do after the crash? “hodl and buidl,” says Scott Spiegel, one of the organisers of BitBasel, an annual crypto-art event held in Miami. hodl, a term common in crypto circles, encourages users to “hold on for dear life” during a slump—and the community has taken to re-working the word “build” to go with it. In short: keep the faith.
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The idea that a “crypto winter”, the term widely used for a slump in crypto prices, is the time to knuckle down is long-held. Each drop tends to wash out those suckered in by the hype and leave only the dedicated core—those building applications and blockchain technology. Ethereum, now the second-most valuable blockchain, was launched during the first “crypto winter”, after a price spike in 2014. The next winter, in 2017, also gave rise to the invention of many decentralised finance applications.
The industry is girding itself for an onslaught of regulation
If anything, crypto is better prepared to buidl through the latest chill than it has been before. Billions of dollars’ worth of crypto venture-capital money has been raised and put to work, giving many crypto founders a cash cushion to rely upon with asset prices low. The market capitalisation of all of crypto is still higher than it was in late 2020. The spectacular collapse of ftx in November, after an $8bn hole was discovered in its balance-sheet, was a blow. But other exchanges ,such as Binance and Coinbase, seem likely to survive.
As well as moves to hodl and buidl, the industry is girding itself for an onslaught of regulation. Three major bills are being passed around in Washington—two comprehensive efforts and one focusing on stablecoins, a type of cryptocurrency pegged to an asset or commodity. American regulators, such as the Securities and Exchange Commission, are clamping down on platforms that have facilitated activity in crypto-tokens that they think look like securities.
What will all this mean for the price of crypto-tokens such as bitcoin or ether? If inflation subsides and the Fed eases off on interest rates, it will probably help crypto prices, given how closely correlated to stocks they have been in 2022. But the bigger crypto grows the harder it is to imagine another boom in crypto prices built on hype alone.
“Everyone is laser-focused on delivering a use case,” says one Miami-based developer. If the buidl activity during this downturn does not deliver on a real use for crypto beyond speculation and scams, this chill could well endure.■
Alice Fulwood: Wall Street correspondent, The Economist, New York
未来世界
| 未来世界 2023
加密货币能否度过最近的寒冬？
找到真正的用途会有所帮助
2022年11月18日
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作者：爱丽丝-富尔伍德经济学人》驻纽约华尔街记者
暴跌之后，加密货币该怎么办？在迈阿密举行的一年一度的加密艺术活动 BitBasel 的组织者之一斯科特-斯皮格尔（Scott Spiegel）说："hodl and buidl"。"hodl "是加密货币圈子里的一个常用术语，鼓励用户在经济低迷时 "死守"--社区还重新创造了 "build "一词来与之搭配。简而言之：保持信念。