加密货币：数字货币的兴起、衰落和未来

加密货币在利率上升的背景下大幅下滑之前，人气飙升，现已从默默无闻发展成为广受追捧的投资。加密货币作为通过密码学保护的去中心化数字货币运行，促进匿名交易而无需中央当局的监督。尽管很复杂，但加密货币机制可以简化以便更好地理解。

Over the last decade, cryptocurrency has gone from an obscure asset to a wildly popular investment before falling significantly amid increasing interest rates. Cryptocurrencies are a form of digital currency secured through cryptography and computer networks. These currencies are not overseen by traditional central institutions, like a government or bank, and transactions are performed while maintaining the semi-anonymity of buyers and sellers.

在过去的十年中，加密货币已经从一种不起眼的资产变成了一种广受欢迎的投资，然后随着利率的上升而大幅下跌。加密货币是一种通过密码学和计算机网络保护的数字货币。这些货币不受政府或银行等传统中央机构的监管，交易是在保持买家和卖家半匿名的情况下进行的。

How cryptocurrencies work can sometimes be complex. Below is an easy-to-follow guide on the most important things to know about digital currencies and new developments in the crypto market.

加密货币的工作原理有时可能很复杂。以下是一份简单易懂的指南，介绍了有关数字货币和加密货币市场新发展的最重要知识。

Learn about cryptocurrency

了解加密货币

• Cryptocurrency was born out of the Great Recession, as the concern over central bank powers grew, and users found a way to decentralize money.

  美元币加密货币诞生于经济大衰退，当时人们对央行权力的担忧日益加剧，而用户找到了一种分散资金的方法。

• The first cryptocurrency, Bitcoin, was launched in 2009. Its first transaction was used for two Papa John’s pizzas.

  第一种加密货币比特币于 2009 年推出。它的第一笔交易是用于购买两个棒约翰披萨。

• Cryptocurrencies are made possible by a technology called blockchain, which acts as an electronic ledger for anonymous digital transactions.

  加密货币是通过一种称为区块链的技术成为可能的，该技术充当匿名数字交易的电子分类账。

• Bitcoin began with a value of less than a penny, and at its historical high hit more than $73,000.

  比特币最初的价值不到一美分，后来达到历史最高点超过 73,000 美元。

• Since its inception, more than 21,000 different cryptocurrencies have evolved and followed in Bitcoin’s footsteps. Ethereum and Tether sit behind Bitcoin in value to round out the top three.

  自诞生以来，已有超过 21,000 种不同的加密货币不断发展并追随比特币的脚步。以太坊和 Tether 的价值仅次于比特币，跻身前三。

• 26 percent of millennials owned Bitcoin, according to a July 2023 Morning Consult survey, compared to 14 percent of all U.S. adults.

  根据 2023 年 7 月 Morning Consult 的调查，26% 的千禧一代拥有比特币，而美国成年人的这一比例为 14%。

• Global mining for the largest cryptocurrencies is estimated to create between 110 – 170 million metric tons of carbon dioxide emissions per year, according to a White House report.

  据白宫报告称，全球最大的加密货币开采活动预计每年会产生 110 至 1.7 亿吨二氧化碳排放。

Types of cryptocurrency

Crypto market rise and fall

• Following the 2008 recession, an individual or group by the name of Satoshi Nakamoto created a white paper to address central bank control of money and the control governments had over citizens’ money.

  加密货币市场的兴衰 2008 年经济衰退之后，一位名叫中本聪 (Satoshi Nakamoto) 的个人或团体创建了一份白皮书，以解决央行对货币的控制以及政府对公民货币的控制问题。

• In 2009, Bitcoin was created, launching cryptocurrency from academic concept to real-world currency contender.

  2009年，比特币诞生，使加密货币从学术概念走向现实世界的货币竞争者。

• Bitcoin was intended to eliminate the control, oversight and fees associated with cash transactions. The legitimacy provided by third-party institutions like banks was supposed to be replaced by cryptographic networks online.

  比特币的目的是消除与现金交易相关的控制、监督和费用。银行等第三方机构提供的合法性应该被在线加密网络所取代。

• On Jan. 3, 2009, the first blockchain was launched with the first “block” called the genesis block.

  2009 年 1 月 3 日，第一个区块链推出，第一个“区块”被称为创世区块。

• The first actual transaction with Bitcoin took place on May 22, 2010 when a Florida man negotiated to have two Papa John’s pizzas worth $25 delivered in exchange for 10,000 bitcoins. This established the first actual value of Bitcoin, at 4 bitcoins per penny. Fans have since dubbed this day “Bitcoin Pizza Day.”

  第一笔实际的比特币交易发生在 2010 年 5 月 22 日，当时一名佛罗里达男子协商用 10,000 个比特币换取两份价值 25 美元的棒约翰披萨。这确立了比特币的第一个实际价值，即每便士 4 比特币。此后，粉丝们将这一天称为“比特币披萨日”。

• In February 2011, Bitcoin’s price passed the $1 threshold. Roughly 13 years later, Bitcoin hit an all-time high of $73,750 in March 2024.

  2011年2月，比特币价格突破1美元大关。大约 13 年后，比特币在 2024 年 3 月触及 73,750 美元的历史新高。

• Since Bitcoin’s inception, more than 21,000 different cryptocurrencies have been created.

  自比特币问世以来，已有超过 21,000 种不同的加密货币被创建。

• Bitcoin is the most valuable coin in circulation, with Ethereum and Tether in second and third place, respectively.

  比特币是流通中最有价值的货币，以太坊和 Tether 分别位居第二和第三位。

• The value of all existing cryptocurrency is around $2.33 trillion, with around $1.2 trillion of that being attributed to Bitcoin (as of May 6, 2024), according to CoinMarketCap.com.

  根据 CoinMarketCap.com 的数据，所有现有加密货币的价值约为 2.33 万亿美元，其中约 1.2 万亿美元来自比特币（截至 2024 年 5 月 6 日）。

• The global payments revenue is expected to top $3 trillion by 2026, according to a McKinsey report.

  麦肯锡报告显示，到 2026 年，全球支付收入预计将突破 3 万亿美元。

• As of May 5, 2024, the size of the Bitcoin blockchain is approximately 570 gigabytes, about 19 percent higher than where it was one year ago.

  截至 2024 年 5 月 5 日，比特币区块链的大小约为 570 GB，比一年前增加约 19%。

Cryptocurrency statistics: Investors and demographics

• About 21 percent of American adults have owned cryptocurrency as of 2022, according to NBC News.

  加密货币统计数据：投资者和人口统计数据据 NBC 新闻报道，截至 2022 年，约 21% 的美国成年人拥有加密货币。

• India is ranked at the top of Chainalysis’s global crypto adoption index, as of Sept. 2023, followed by Nigeria and Vietnam, to round out the top three.

  截至 2023 年 9 月，印度在 Chainaanalysis 的全球加密货币采用指数中名列前茅，其次是尼日利亚和越南，跻身前三。

• Many high adopters are developing markets, such as Ukraine, Indonesia and the Philippines, according to Chainalysis.

  据 Chainaanalysis 称，许多高采用者正在发展中市场，例如乌克兰、印度尼西亚和菲律宾。

• In the United States, high-income earners are disproportionately represented among crypto investors, with those making $100,000 or more annually comprising 25 percent of crypto owners but only 15 percent of the general public.

  在美国，高收入者在加密货币投资者中所占比例过高，年收入 10 万美元或以上的人占加密货币所有者的 25%，但仅占普通大众的 15%。

• About 70 percent of cryptocurrency owners are men, but they represent only 48 percent of the general population, according to a report by Morning Consult. Women comprise 30 percent of crypto owners but 52 percent of the general population.

  根据 Morning Consult 的一份报告，大约 70% 的加密货币所有者是男性，但他们只占总人口的 48%。女性占加密货币所有者的 30%，但占总人口的 52%。

• U.S. crypto ownership by ethnicity, in 2021, according to Morning Consult:

  根据 Morning Consult 的数据，2021 年美国按种族划分的加密货币所有权情况：

Cryptocurrency’s environmental impact

Although cryptocurrencies have created a new, alternative method of payment, the production of cryptocurrency has been mired in controversy because of the energy required to produce it.

加密货币的环境影响尽管加密货币创造了一种新的替代支付方式，但由于生产加密货币所需的能源，加密货币的生产一直陷入争议。

Bitcoin and other cryptocurrencies are “mined” on decentralized computer networks that act much like a large ledger. This ledger tracks each transaction of cryptocurrency, and computers throughout the network verify and process each transaction through a blockchain database.

比特币和其他加密货币是在分散的计算机网络上“开采”的，其作用很像一个大型分类账。该分类账跟踪加密货币的每笔交易，整个网络的计算机通过区块链数据库验证和处理每笔交易。

Think of it like a long receipt that records every transaction in a cryptocurrency. As transactions are processed and verified, new bitcoins are created, or mined. Mining is the process of adding another entry onto the receipt, or another block to the chain.

可以把它想象成一张长收据，以加密货币记录每笔交易。随着交易的处理和验证，新的比特币被创建或开采。挖掘是在收据上添加另一个条目或在链上添加另一个块的过程。

This process requires high-powered and sophisticated computers – and a lot of electricity. Bitcoin alone used an estimated 158 terawatt-hours of electricity annualized as of May 2024 – more than Ukraine and Pakistan – according to the Cambridge Bitcoin Electricity Consumption Index.

这个过程需要高性能和复杂的计算机以及大量的电力。根据剑桥比特币电力消耗指数，截至 2024 年 5 月，仅比特币每年就消耗了 158 太瓦时的电力，超过了乌克兰和巴基斯坦。

Bankrate insights

灯泡银行利率见解

Bitcoin mining consumes so much electricity that it accounts for 0.62 percent of the entire world’s electricity consumption as of May 2024, according to the Cambridge index. Mining for Bitcoin alone is estimated to create 80.1 million metric tons of carbon dioxide emissions per year, comparable to those created by Greece, according to the Cambridge index.

根据剑桥指数，截至 2024 年 5 月，比特币挖矿消耗的电力如此之大，占全球电力消耗的 0.62%。根据剑桥指数，据估计，仅比特币开采每年就会产生 8010 万吨二氧化碳排放量，与希腊的二氧化碳排放量相当。

Other key facts show the environmental impact of cryptocurrency:

其他关键事实显示了加密货币对环境的影响：

• If Bitcoin were a country, it would be in the top 40 energy users worldwide, according to Digiconomist.

  据 Digiconomist 称，如果比特币是一个国家，它将跻身全球前 40 位能源用户之列。

• One Bitcoin transaction’s carbon footprint is equivalent to more than 762,000 Visa transactions, according to Digiconomist.

  据 Digiconomist 称，一笔比特币交易的碳足迹相当于超过 762,000 笔 Visa 交易。

• Bitcoin emissions alone could increase average global temperature above 2°C, according to research in the journal Nature Climate Change.

  根据《自然气候变化》杂志的研究，仅比特币排放就可能使全球平均气温升高 2°C 以上。

• It is even estimated that Bitcoin mining consumes the same amount of electricity as all the data centers in the world, according to research in the journal Joule.

  根据《焦耳》杂志的研究，甚至估计比特币挖矿消耗的电量与世界上所有数据中心消耗的电量相同。

Crypto taxes and economic statistics

When cryptocurrencies were first created, it was nearly impossible for government tax agencies to track them. The hallmark of blockchain transactions is anonymity, meaning one could not prove the identity of the buyer or the seller.

加密货币税收和经济统计当加密货币首次创建时，政府税务机构几乎不可能追踪它们。区块链交易的特点是匿名，这意味着无法证明买方或卖方的身份。

In 2014, the IRS stated that cryptocurrency was to be treated as property for federal income tax purposes. Although the agency itself has not released official estimates yet, an analysis from Barclays Bank figures that the IRS loses an estimated $50 billion per year from taxes that should be paid on cryptocurrency assets.

2014 年，美国国税局 (IRS) 表示，出于联邦所得税目的，加密货币将被视为财产。尽管该机构本身尚未发布官方估计，但巴克莱银行的一项分析显示，美国国税局每年因加密货币资产应缴纳的税款而损失约 500 亿美元。

Buying and holding cryptocurrency is not considered a taxable event. You can buy and hold the crypto for as long as you want, though you do have to disclose that on your tax return, but once you decide to sell (or realize the gain or loss) you will need to report the amount of profit or loss from the sale.

购买和持有加密货币不被视为应税事件。您可以根据需要购买并持有加密货币，尽管您必须在纳税申报表上披露这一点，但一旦您决定出售（或实现收益或损失），您将需要报告利润或利润金额销售损失。

Is crypto the future of money?

The popularity of cryptocurrency has grown in recent years as access to crypto has become easier. The asset is still incredibly volatile, and in 2022 rising interest rates caused selloffs in Bitcoin, as skittish investors offloaded speculative assets. Bitcoin recovered somewhat in 2023, and reached a new high in March 2024.

加密货币是货币的未来吗？近年来，随着获取加密货币变得越来越容易，加密货币越来越受欢迎。该资产的波动性仍然令人难以置信，2022 年利率上升导致比特币遭到抛售，因为不安的投资者纷纷抛售投机资产。比特币在 2023 年有所回升，并在 2024 年 3 月创下新高。

The volatility of major cryptocurrencies such as Bitcoin makes them difficult, if not impossible, to use as currencies. Major currencies need to be mostly stable in order to act as a medium of exchange. So the ideas that cryptocurrencies can be both trading vehicles for profit and functional currencies to transact are at odds with each other.

比特币等主要加密货币的波动性使得它们很难甚至不可能用作货币。主要货币需要保持稳定才能充当交换媒介。因此，加密货币既可以作为利润交易工具又可以作为交易功能货币的想法是相互矛盾的。

Governments around the world, including the United States, have also started to analyze how to regulate cryptocurrency. On March 9, 2022, U.S. President Joe Biden signed an executive order calling for a broad review of digital assets, including cryptocurrencies. Federal agencies are reviewing digital currencies and assessing the risk they pose to overall financial stability, among other considerations.

包括美国在内的世界各国政府也开始分析如何监管加密货币。 2022 年 3 月 9 日，美国总统乔·拜登签署了一项行政命令，呼吁对包括加密货币在内的数字资产进行广泛审查。联邦机构正在审查数字货币，并评估它们对整体金融稳定构成的风险等。

Bankrate insights

灯泡银行利率见解

The difficulties of tax reporting and the controversy surrounding crypto have resulted in the digital asset being entirely banned in more than a dozen countries including Qatar, Saudi Arabia and China. China, which used to account for the majority of the world’s Bitcoin mining, has now outlawed cryptocurrencies altogether as well.

税务报告的困难和围绕加密货币的争议导致数字资产在包括卡塔尔、沙特阿拉伯和中国在内的十多个国家被完全禁止。中国曾经占世界比特币开采量的大部分，现在也完全禁止了加密货币。

So far, El Salvador and the Central African Republic accept crypto as legal tender, although both countries have had significant problems with its implementation.

到目前为止，萨尔瓦多和中非共和国接受加密货币作为法定货币，尽管这两个国家在实施方面都存在重大问题。

Cryptocurrency, although available as a method of payment for some companies scattered throughout the world, has not made the official leap as a widely available currency. Several major companies already accept cryptocurrency as a form of currency or payment, but the list is relatively limited:

加密货币虽然可以作为分散在世界各地的一些公司的支付方式，但尚未正式成为一种广泛使用的货币。几家大公司已经接受加密货币作为货币或支付形式，但名单相对有限：

• AT&T offers customers a payment option through BitPay.

  AT&T 通过 BitPay 为客户提供支付选项。

• Microsoft allows Bitcoin to pay for Xbox store credits.

  微软允许比特币支付 Xbox 商店积分。

• Game streaming platform Twitch accepts Bitcoin and Bitcoin Cash as payment.

  游戏流媒体平台 Twitch 接受比特币和比特币现金作为付款方式。

• AMC theaters allow moviegoers to purchase tickets with Bitcoin and other cryptos.

  AMC 影院允许电影观众使用比特币和其他加密货币购买门票。

• The Dallas Mavericks allow the use of Bitcoin for purchasing game tickets and merchandise through the team’s website.

  达拉斯小牛队允许使用比特币通过球队网站购买比赛门票和商品。

However, many other companies have introduced the ability to pay with cryptocurrency but then rescinded it when customers failed to actually use it.

然而，许多其他公司已经引入了使用加密货币支付的功能，但当客户未能实际使用它时又取消了它。

Cryptocurrency FAQ

• What happens if you dont report cryptocurrency on taxes?

  加密货币常见问题解答如果您不向加密货币纳税，会发生什么情况？

  You can get into serious trouble with the IRS if you don’t declare all your income and pay taxes on it, including stiff financial penalties and potential criminal penalties such as prison time. You may need to respond to a couple items on your annual tax return, depending on your activities.

  如果您不申报所有收入并为其纳税，您可能会遇到美国国税局的严重麻烦，包括严厉的经济处罚和潜在的刑事处罚，例如监禁。根据您的活动，您可能需要对年度纳税申报表上的几个项目做出回应。

  For all taxpayers, the IRS asks you whether you’ve transacted in cryptocurrency each year on your Form 1040 tax form. So if you’ve bought or sold cryptocurrency during the tax year, you’ll need to declare that on your taxes – or risk lying on your return.

  对于所有纳税人，美国国税局 (IRS) 每年都会在 1040 税表上询问您是否进行过加密货币交易。因此，如果您在纳税年度内购买或出售了加密货币，则需要在税款中进行申报，否则将面临报税表上的风险。

  In addition, if you’ve turned a profit on your crypto trades, you’ll need to report that capital gain and pay taxes on it. Alternatively, if you’ve lost money on your trades, you can claim a loss as well as a tax break.

  此外，如果您在加密货币交易中获利，则需要报告资本利得并纳税。或者，如果您在交易中亏损，您可以申请损失和税收减免。

• How do beginners invest in cryptocurrency?

  初学者如何投资加密货币？

  Cryptocurrency’s volatile nature, the fact that it is not based on a hard asset or cash flow of an underlying entity and the controversy surrounding its climate impact make it a very speculative investment. Even a more established coin like Bitcoin is risky. All cryptocurrencies are fairly new, and it is difficult to compare asset-backed investments like stocks to digital currencies that are backed purely by investor sentiment.

  加密货币的波动性、它并非基于硬资产或基础实体的现金流这一事实，以及围绕其气候影响的争议，使其成为一种投机性很强的投资。即使像比特币这样更成熟的货币也存在风险。所有加密货币都是相当新的，很难将股票等资产支持投资与纯粹由投资者情绪支持的数字货币进行比较。

  Beginners should only make crypto a small part (less than 5 percent) of a diversified portfolio that includes stocks and other established wealth-building assets. Investors need to understand exactly how cryptocurrency works – and here’s what else you need to know.

  初学者应该只将加密货币作为多元化投资组合的一小部分（少于 5％），其中包括股票和其他已建立的财富积累资产。投资者需要准确了解加密货币的运作方式——以下是您还需要了解的内容。

• What is cryptocurrency mining?

  什么是加密货币挖矿？

  Crypto mining is the process of creating new coins on a given blockchain such as Bitcoin’s. Computers operating these decentralized blockchain networks solve complex mathematical problems to try to earn bitcoins. These high-powered computers compete with one another to solve the problems in the hope that they are rewarded with the bitcoins up for grabs.

  加密货币挖矿是在给定的区块链（例如比特币）上创建新硬币的过程。运行这些去中心化区块链网络的计算机解决复杂的数学问题，试图赚取比特币。这些高性能计算机相互竞争来解决问题，希望能够获得比特币作为奖励。

  Mining is extremely energy-intensive and creates significant carbon emissions, among other negatives. Here are further details into how it all works.

  采矿业是能源密集型行业，会产生大量碳排放等负面影响。以下是有关其工作原理的更多详细信息。

• Where to buy cryptocurrency?

  在哪里购买加密货币？

  Traders can buy cryptocurrency at many places nowadays, including traditional payment apps such as PayPal and Venmo, investing apps such as Robinhood and Webull, crypto exchanges such as Coinbase as well as a few traditional brokerages such as Interactive Brokers.

  如今，交易者可以在很多地方购买加密货币，包括 PayPal 和 Venmo 等传统支付应用程序、Robinhood 和 Webull 等投资应用程序、Coinbase 等加密货币交易所以及 Interactive Brokers 等一些传统券商。

  If you’re looking to buy crypto, here are some of the top exchanges and apps to consider.

  如果您想购买加密货币，请考虑以下一些顶级交易所和应用程序。

— Georgina Tzanetos wrote a previous version of this story.

— 乔治娜·察内托斯 (Georgina Tzanetos) 写了这个故事的先前版本。