川普幣：社群網路的新時代，聲譽是有代價的

在川普準備於週一（當地時間1月20日）就任美國總統之際，他發行了個人迷因幣「川普」。

As Trump prepares to take office as the US president on Monday (January 20 local time), he issued a personal memecoin "Trump".

在川普週一（當地時間1月20日）準備就任美國總統之際，他發行了個人迷因幣「川普」。

CIC Digital LLC and Fight Fight Fight LLC, which was established in Delaware earlier this month, own 80% of the tokens. After the token was issued, many people praised it, but it was also criticized by many celebrities.

CIC Digital LLC 和本月稍早在德拉瓦州成立的 Fight Fight Fight LLC 擁有 80% 的代幣。代幣發行後，得到了許多人的稱讚，但也遭到了許多名人的批評。

Crypto KOL RM published an article analyzing Trump's coin issuance incident. He believes that coin issuance may not bring a lot of benefits as most people think, and there is a certain "binding" behind it. The following is the content details:

加密KOL RM發表文章分析川普發幣事件。他認為，發幣可能沒有像大多數人想像的那樣帶來很多好處，背後還有一定的「約束力」。以下為詳細內容：

There is no news as fascinating as the news that soon-to-be President Trump is launching a memecoin. I personally do not own any memecoin, and to be honest, I do not fully understand the subsequent effects. We are sailing in uncharted waters, this moment feels unprecedented, and it is difficult to understand how he or his team can fully understand what just happened.

沒有什麼新聞比即將就任總統的川普推出迷因幣的消息更令人著迷了。我個人並沒有任何memecoin，說實話，我並不完全理解後續的影響。我們正在未知的水域航行，這一刻感覺前所未有，很難理解他或他的團隊如何完全理解剛剛發生的事情。

Cryptocurrency is fascinating because of its decentralized network effects. This interest has led me to explore social graphs, new market structures, capital and community formation, and reputation systems.

加密貨幣因其去中心化的網路效應而令人著迷。這種興趣促使我探索社交圖譜、新的市場結構、資本和社區形成以及聲譽系統。

Reputation in crypto is particularly fascinating. In a trustless system, reimagining the concept of trust is critical. I’ve had the privilege of working on performance-based capital projects, building permissionless app stores to communicate trust, and experimenting with how reputation can enhance social experiences. What’s the takeaway? In a decentralized, permissionless, censorship-resistant world, how trust is measured and expressed is paramount.

加密貨幣領域的聲譽尤其令人著迷。在無需信任的系統中，重新構想信任的概念至關重要。我有幸從事基於績效的資本項目，建立無需許可的應用程式商店來傳達信任，並嘗試聲譽如何增強社交體驗。外賣是什麼？在一個去中心化、無需許可、抗審查的世界中，如何衡量和表達信任至關重要。

Back to the Trump coin. SocialFi is where creators tokenize themselves, something that has been seen over and over again in every crypto cycle through social tokens. But this time it’s different: the token has launched, the price has soared, and it’s tied to a figure who may once again be the most powerful political leader in the world by the time you read this.

回到川普硬幣。 SocialFi 是創作者將自己代幣化的地方，這在每個加密週期中都透過社交代幣反覆出現。但這一次有所不同：代幣已經推出，價格飆升，並且它與一個人物聯繫在一起，當你讀到這篇文章時，他可能再次成為世界上最強大的政治領導人。

While their website claims to have “no official connection” to politics or Trump’s personality, in the meme world, this is laughable. Ideology, identity, and branding are now directly tied to price. Trust is dependent on market makers, speculators, and hype cycles.

儘管他們的網站聲稱與政治或川普的個性“沒有官方聯繫”，但在模因世界中，這是可笑的。意識形態、身分和品牌現在與價格直接相關。信任取決於做市商、投機者和炒作週期。

The rapid rise of Trump Coin opens up a world of possibilities. Could we be witnessing the first trillion-dollar person whose token’s market value is pegged to a single person? How does one’s self-worth and public image change when pegged to a real-time price chart?

川普幣的迅速崛起開闢了一個充滿可能性的世界。我們是否會見證第一個身價數萬億美元的人，其代幣的市值與一個人掛鉤？當與即時價格圖表掛鉤時，一個人的自我價值和公眾形象會如何變化？

Also, with 80% of tokens controlled by one entity, will the biggest Rug pull occur? Does selling mean losing confidence in yourself? It’s a twisted philosophical puzzle in the age of influencers. Have fun.

此外，由於 80% 的代幣由一個實體控制，最大的地毯拉力是否會出現？出售是否意味著對自己失去信心？這是影響者時代的一個扭曲的哲學難題。玩得開心。

Fans hold 20% / Individuals hold 80%

粉絲佔20% / 個人佔80%

Personal tokens traditionally give the community a larger allocation, letting them define your value and prevent single points of failure. But it also means that your concept can be bigger than you. Your idea can outlive you as an individual. Trump Coin flips this on its head with an 80% personal allocation, making it difficult for him to exit gracefully. Selling means destroying your community, which generally destroys you as a brand. (But it’s important to note that Trump seems to play by different rules).

傳統上，個人代幣會為社群提供更大的分配，讓他們定義您的價值並防止單點故障。但這也意味著你的概念可以比你更大。你的想法可以比你個人更長久。 Trump Coin 則顛覆了這一點，80% 為個人分配，讓他很難優雅地退出。銷售意味著摧毀你的社區，這通常會摧毀你的品牌。 （但值得注意的是，川普似乎遵循不同的規則）。

I hope others will follow suit. If Trumpcoin soars, it seems there’s nothing stopping celebrities from getting into memes. This could spark a wave of personality-driven memecoins. Historically, “creator economics” have often failed because attention is predatory, causing creators to burn out in the pursuit of dopamine and an audience. With 80% lockup, you have to keep delivering or your community and token price will work against you. It’s a high-stakes dance: keep them engaged or face huge adverse consequences.

我希望其他人也能效法。如果川普幣飆升，似乎沒有什麼能阻止名人進入迷因。這可能會引發一波個性驅動的迷因幣浪潮。從歷史上看，「創作者經濟學」常常失敗，因為注意力是掠奪性的，導致創作者在追求多巴胺和觀眾的過程中精疲力竭。由於鎖定率為 80%，您必須繼續交付，否則您的社區和代幣價格將對您不利。這是一場高風險的舞蹈：讓他們保持參與，否則將面臨巨大的不利後果。

Personally, it must be psychologically exhausting to think of your “worth” as a volatile stock. Imagine extending that to the presidency. One day, your market cap soars; the next, an unpopular move sends the token crashing. It’s like living in an episode of Black Mirror, where “market cap” equals self-worth and “24-hour volume” measures correlation.

就我個人而言，將自己的「價值」視為一檔波動較大的股票，一定會在心理上令人疲憊不堪。想像一下將其延伸到總統職位。有一天，你的市值飆升；接下來，一個不受歡迎的舉動導致代幣崩潰。這就像生活在《黑鏡》的一集中，「市值」等於自我價值，「24 小時交易量」衡量相關性。

This dynamic extends to the broader creator economy. If fans own 20% and you own 80%, you’re locked in. You can’t exit or pivot without alienating your supporters, damaging your net worth, and quite possibly your ego. It forces you to either maintain the status quo or double down on your efforts and risk burnout.

這種動態延伸到了更廣泛的創作者經濟。如果粉絲擁有20% 的股份，而你擁有80% 的股份，那麼你就被鎖定了。 。它迫使你要么維持現狀，要么加倍努力，冒著精疲力竭的風險。

Reputation has a price these days

如今，聲譽是有代價的

Is this the world's most ingenious social experiment, rewriting the power, brand and money landscape, or is it an unexpected time bomb that threatens the president's credibility? Unlike stocks that react to politics, directly monetizing personal images allows reputation to be bought and sold in real time.

這是世界上最巧妙的社會實驗，改寫了權力、品牌和金錢格局，還是威脅總統信譽的意外定時炸彈？與對政治做出反應的股票不同，直接將個人形象貨幣化可以讓聲譽即時買賣。

I've always believed that reputation buys you money, but money doesn't

我一直相信聲譽可以買到金錢，但金錢卻買不到