加密货币幸存者：数字前沿的回顾和生存指南

探索加密货币领域？本生存指南回顾了“10.11”崩盘的重要见解，重点关注风险管理、稳定币和成功交易者的心态。

The crypto world is a wild ride, and recent events like the "10.11" crash have served as a stark reminder of the risks involved. Let's dive into some key takeaways, offering a survival guide for navigating this volatile landscape.

加密世界是一场疯狂的旅程，最近发生的“10.11”崩盘等事件清楚地提醒了我们所涉及的风险。让我们深入探讨一些关键要点，为应对这一动荡的环境提供生存指南。

The '10.11' Crash: Lessons Learned

“10.11”崩盘：吸取的教训

The "10.11" crash, where altcoins plummeted by an average of 62%, was a major stress test for the crypto market. It exposed vulnerabilities in DeFi and perpetual contract platforms. One key observation is that even seemingly conservative leverage (2-3x) can be devastating during such extreme events.

“10.11”崩盘，山寨币平均暴跌62%，是对加密市场的一次重大压力测试。它暴露了 DeFi 和永续合约平台的漏洞。一个重要的观察结果是，即使看似保守的杠杆（2-3 倍）在此类极端事件中也可能具有毁灭性。

Delta-Neutral Strategies and Platform Performance

Delta 中性策略和平台性能

Interestingly, the crash highlighted the differences in how various platforms handled liquidations. Delta-neutral strategies on some platforms, like Lighter, fared better than on others, like Hyperliquid, where short positions were automatically liquidated. This raises important questions about the design and risk management mechanisms of decentralized exchanges.

有趣的是，此次崩盘凸显了不同平台处理清算方式的差异。某些平台（如 Lighter）上的 Delta 中性策略比其他平台（如 Hyperliquid）表现更好，后者的空头头寸会自动清算。这提出了有关去中心化交易所的设计和风险管理机制的重要问题。

Who Survives the Crypto Winter?

谁能熬过加密货币冬天？

So, who are the crypto survivors? They're the "stubborn yet cautious" ones. These individuals primarily hold spot assets, observe new projects carefully before investing, and avoid blindly following the hype. They prioritize stable, compound growth over ultra-high returns.

那么，谁是加密货币的幸存者？他们是“固执而谨慎”的人。这些人主要持有现货资产，投资前仔细观察新项目，避免盲目跟风。他们优先考虑稳定的复合增长而不是超高回报。

The Mindset of a Successful Crypto Trader

成功的加密货币交易者的心态

Successful crypto participants aren't just in it for the money. They're driven by a passion for the technology, the joy of learning, and the constant improvement of their skills. They view challenges as opportunities for growth and are not easily discouraged by setbacks. They don't view it as work, but as a game they truly love.

成功的加密货币参与者不仅仅是为了钱。他们受到对技术的热情、学习的乐趣以及不断提高技能的驱动。他们将挑战视为成长的机会，不会轻易因挫折而气馁。他们并不将其视为工作，而是将其视为他们真正喜爱的游戏。

The Rise of Stablecoins and Regulatory Scrutiny

稳定币的兴起和监管审查

Stablecoins continue to play a crucial role in the crypto ecosystem. The meteoric growth of stablecoins has prompted global banking regulators to reconsider how traditional banks treat cryptocurrencies. Stablecoins like Tether (USDT) and USD Coin (USDC) now facilitate billions of dollars worth of transactions every day worldwide.

稳定币继续在加密生态系统中发挥着至关重要的作用。稳定币的迅速增长促使全球银行监管机构重新考虑传统银行如何对待加密货币。 Tether (USDT) 和 USD Coin (USDC) 等稳定币现在每天在全球范围内促进价值数十亿美元的交易。

Basel Committee's Rule Review

巴塞尔委员会的规则审查

The Basel Committee on Banking Supervision is considering revising its crypto capital framework, given the significant changes in the digital asset landscape since 2022. The current regime considers most stablecoins as highly risky crypto assets, but this blanket approach may no longer be suitable for today's evolving market, as newer stablecoins are increasingly backed by liquid assets such as short-term US Treasuries.

鉴于 2022 年以来数字资产格局发生的重大变化，巴塞尔银行监管委员会正在考虑修改其加密资本框架。现行制度将大多数稳定币视为高风险加密资产，但这种一揽子方法可能不再适合当今不断发展的市场，因为较新的稳定币越来越多地受到短期美国国债等流动资产的支持。

Looking Ahead: Altcoins and Trading Strategies

展望未来：山寨币和交易策略

Looking ahead, it's wise to be selective with altcoins. Focusing on established tokens and adopting a "pure news/narrative-driven" trading model can offer better protection in the short term. While speculation will always be a part of the market, a more cautious and informed approach is key to long-term survival.

展望未来，明智的选择是选择山寨币。关注已建立的代币并采用“纯新闻/叙事驱动”的交易模式可以在短期内提供更好的保护。虽然投机永远是市场的一部分，但更加谨慎和知情的方法是长期生存的关键。

My Take: I think that the current regulatory review of stablecoins is healthy for the crypto industry. Increased transparency and standardization will only legitimize the asset class and promote wider adoption. The key is to find a balance that fosters innovation while protecting consumers.

我的看法：我认为当前对稳定币的监管审查对加密行业来说是健康的。提高透明度和标准化只会使资产类别合法化并促进更广泛的采用。关键是找到促进创新和保护消费者之间的平衡。

Final Thoughts

最后的想法

The crypto market is a marathon, not a sprint. So, buckle up, stay informed, manage your risk, and remember to enjoy the ride! Who knows, maybe we'll all be sipping margaritas on our own crypto-funded islands someday. Until then, keep learning and keep surviving!

加密市场是一场马拉松，而不是短跑。因此，系好安全带，随时了解情况，管理风险，并记住享受旅程！谁知道呢，也许有一天我们都会在自己的加密货币资助的岛屿上喝玛格丽塔酒。在那之前，继续学习并继续生存！