歐洲央行正在向比特幣宣戰，後來者有充分的理由反對它

歐洲央行官員 Ulrich Bindseil 和 Jürgen Schaff 最近撰寫的一項分析顯示，那些遲到或沒有擁有比特幣的人有充分的理由反對比特幣，並主張立法保護自己免受財富再分配的負面影響。

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ECB officials are arguing that those who joined the Bitcoin train late or who don’t own the coin have good reasons to oppose it and advocate for legislation that will protect them from the negative consequences of its wealth redistribution.

歐洲央行官員認為，那些較晚加入比特幣列車或不擁有比特幣的人有充分的理由反對比特幣，並主張立法保護他們免受財富再分配的負面影響。

The officials, who earlier claimed that Bitcoin’s February price rally was driven by price manipulation, now claim that Bitcoin has shifted from its original vision as a decentralized payment system to primarily an investment asset.

這些官員早些時候聲稱比特幣二月的價格上漲是由價格操縱推動的，現在他們聲稱比特幣已經從最初作為去中心化支付系統的願景轉變為主要是一種投資資產。

This argument is supported by the growing mainstream narrative, pushed by high-profile figures like BlackRock CEO Larry Fink or Galaxy Digital’s founder Mike Novogratz, who view Bitcoin as a pure investment asset. Their perspective is that Bitcoin’s limited supply and growing demand will drive its price up, similarly to gold.

這一論點得到了越來越多的主流觀點的支持，貝萊德首席執行官拉里·芬克(Larry Fink)或Galaxy Digital創始人邁克·諾沃格拉茨(Mike Novogratz)等知名人士將比特幣視為純粹的投資資產。他們的觀點是，比特幣的有限供應和不斷增長的需求將推動其價格上漲，類似於黃金。

However, the officials are asserting that the popular belief among crypto supporters, which suggests that Bitcoin’s limited supply will ensure sustained price increases, is false.

然而，官員聲稱，加密貨幣支持者中普遍認為比特幣的有限供應將確保價格持續上漲的觀點是錯誤的。

“There are countless assets on earth with a limited or finite supply, and for none of them the notion that they can sustain an ever-increasing valuation over the long term, regardless of the services or benefits they provide to society, is particularly plausible,” the report reads.

「地球上有無數的資產，其供應量有限或有限，對於它們而言，無論它們為社會提供的服務或利益如何，它們能夠長期維持不斷增長的估值的想法是特別合理的， 」報告寫道。

“Proponents of the Bitcoin investment perspective ignore the fact that “scarcity” describes the relationship between supply and demand. A limited, finite supply does not equate to scarcity. In the context of Bitcoin with its limited and fixed supply the non-economic term “rarity” seems more appropriate. If supply is fixed, the price becomes exclusively dependent on demand. And if the demand were to disappear, the price would be zero,” it adds.

「比特幣投資觀點的支持者忽略了一個事實，『稀缺性』描述的是供需關係。有限的供應並不等於稀缺。在比特幣供應有限且固定的背景下，非經濟術語“稀有性”似乎更合適。如果供應量是固定的，價格就完全取決於需求。如果需求消失，價格將為零，」它補充道。

The officials are warning that even in a scenario where Bitcoin’s value continues to rise, it could lead to negative economic consequences if it’s not justified by the underlying fundamentals. They argue that Bitcoin doesn’t enhance the economy’s productive capacity, and any wealth generated by Bitcoin holders comes at the expense of others in society.

官員警告說，即使在比特幣價值持續上漲的情況下，如果沒有基本面的支撐，也可能導致負面的經濟後果。他們認為，比特幣並不能提高經濟的生產能力，比特幣持有者創造的任何財富都是以犧牲社會中其他人的利益為代價的。

“This redistribution of wealth and purchasing power is unlikely to occur without detrimental consequences for society,” the report claims.

報告稱：“這種財富和購買力的重新分配不太可能發生，而不會給社會帶來有害後果。”

“Early adopters have a vested interest in promoting Bitcoin values to redistribute wealth and consumption from latecomers to themselves, maybe without being conscious of the redistributive nature of their vision,” it states.

它指出：“早期採用者在推廣比特幣價值以將財富和消費從後來者那裡重新分配給自己方面擁有既得利益，也許沒有意識到他們願景的再分配性質。”

“In any case current non-holders should realize that they have compelling reasons to oppose Bitcoin and advocate for legislation against it, aiming to prevent Bitcoin prices from rising or to see Bitcoin disappear altogether. Latecomers and non-holders and their political representatives should emphasize that the idea of Bitcoin as an investment relies on redistribution at their expense,” it adds.

「無論如何，目前的非持有者應該意識到，他們有令人信服的理由反對比特幣，並主張立法反對比特幣，旨在防止比特幣價格上漲或看到比特幣完全消失。後來者和非持有者及其政治代表應該強調，比特幣作為一種投資的理念依賴於以他們為代價的再分配，」它補充道。

The officials are also warning that failing to do so could lead to electoral outcomes favoring politicians who support pro-Bitcoin policies, which could exacerbate wealth inequality and societal divisions by promoting a system that benefits early adopters while disadvantaging latecomers and non-holders.

官員們還警告說，如果不這樣做，可能會導致選舉結果有利於支持支持比特幣政策的政客，這可能會推動一種有利於早期採用者、但不利於後來者和非持有者的製度，從而加劇財富不平等和社會分歧。

ECB Declaring War on Bitcoin?

歐洲央行向比特幣宣戰？

This isn’t the first time that ECB officials have shown their skepticism towards Bitcoin. As Crypto Briefing reported, officials earlier likened the approval of US Bitcoin ETFs to the ‘Naked Emperor’s New Clothes.’

這並不是歐洲央行官員第一次對比特幣表示懷疑。根據 Crypto Briefing 報導，官員們早些時候將美國比特幣 ETF 的批准比作「赤裸皇帝的新衣」。

The ECB faced social backlash as soon as the paper surfaced. Wall Street veteran Max Keiser criticized the paper for making false claims about Bitcoin’s original purpose.

該文件一曝光，歐洲央行就面臨社會強烈反對。華爾街資深人士馬克斯凱澤 (Max Keizer) 批評該論文對比特幣的最初用途做出了虛假陳述。

The @ecb makes a rookie mistake by claiming Bitcoin originated as a payment means. This is false. The word ‘Cash’ in the White Paper refers to money, as in Gold, not fiat currency. Bitcoin has always been digital Gold.

@ecb 聲稱比特幣最初是一種支付手段，犯了一個菜鳥錯誤。這是錯誤的。白皮書中的「現金」一詞指的是金錢，如黃金，而不是法定貨幣。比特幣一直是數位黃金。

Satoshi makes this clear in subsequent posts & messages. pic.twitter.com/qEMhoNDWpE

中本聰在隨後的貼文和訊息中明確了這一點。 pic.twitter.com/qEMhoNDWpE

— Max Keiser (@maxkeiser) October 19, 2024

— 馬克斯‧凱澤 (@maxkeiser) 2024 年 10 月 19 日

Blockstream advisor Tuur Demeester, who first brought the paper to public attention, believes that the ECB’s paper is “a true declaration of war” and that authorities will use it to justify harsh taxes or bans on Bitcoin.

Blockstream 顧問 Tuur Demeester 最先將該論文引起公眾關注，他認為歐洲央行的論文是“真正的宣戰”，當局將用它來證明對比特幣的嚴厲稅收或禁令是合理的。