价格坐过山车，真不是比特币的锅丨小象漫评

如果你打算投资比特币

一定需要很强的心理承受能力

Do you plan to invest in Bitcoin? 

Get psychologically prepared first!

一会牛气汹汹飞上天

Its prices sometimes soar like a rocket,

一会熊市来临落到底

and sometimes fall heavily.

多刺激的过山车

也比不了比特币那任性的价格！

Some said that's like a roller coaster.

If yes, it must be the wildest

roller coaster ever.

为什么呢？

比特币不同于法定货币

Why? Unlike a legal currency,

它的产生规则更像是一场游戏

Bitcoin is produced in a game-like way:

靠计算机的运算力解题

一点一点从虚拟空间挖币

The computer runs at full speed to produce

Bitcoins following specific rules,

挖出来的币值多少钱

就看有多少人愿意拿钱去换

最早一万枚比特币才换来一张披萨优惠券

the value of which depends upon how much

one is willing to pay for an exchange. 

In its earliest "trade", someone paid

10,000 Bitcoins for a pizza coupon.

但世间有种东西叫资本

很快逐利入场把水搅浑

Everything would have gone well,

had speculating capital not come in.

低位时买进

高位时卖出

They bought it at low prices,

and then cashed in when prices rose; 

比特币的总量又有上限

大约是2100万

不像美元那样能大水漫灌

Moreover, the number of Bitcoins is limited,

unlike the US dollar that can be issued at will.

稀缺性吸引各路资本纷纷下注

这么多人一起豪赌

价格怎么可能不糊？

Therefore a lot of capital just comes to

hype it up, almost like a gamble.

看着比特币价格坐过山车

    其实根本不是比特币的锅！

The rise and fall of Bitcoin prices

have little to do with Bitcoin itself.

其实资本炒作的泡沫

又何止这一个？

曾经房价被炒上天

Bitcoin is not the first thing

to be speculated on.

There were housing prices,

在“房住不炒”的原则下

多重调控齐上才收敛

which rose sharply until the government

took effective curbing measures.

从炒作到泡沫再到破裂的循环

希望不要在比特币这里上演

Hope the same circle won't be

repeated with Bitcoin.