Bitcoin is a crappy currency. Dollars are a good currency. The real revolution of bitcoin is as a new

比特幣是很糟糕的貨幣，美元才是好的貨幣。比特幣的創新之處在於

kind of payment network, something like Visa or PayPal. Those conventional payment systems

他是一種新的支付系統，類似 Visa 或是 PayPal。那些傳統的支付系統

are owned and operated by for-profit companies. But bitcoin isnt -- there's no Bitcoin-the-company.

都是營利組織所有，並由他們運行。但比特幣不是，並沒有一家「比特幣公司」

Instead, bitcoin is run as a peer-to-peer network. Computers on the bitcoin network

比特幣反而是個 P2P 的網路。在比特幣網路上的電腦

process bitcoin transactions by adding them to a shared public register. They call that

將比特幣的交易放上共享公開的紀錄中。他們稱這個紀錄為

the block chain. All the computers keep it together. It's as if we were all keeping Visa's

「區塊鏈」。由所有的電腦共同維護。這就像我們一起維護 Visa

records up to date together as some kind of weird volunteer project. You're probably wondering,

所有的交易紀錄，彷彿是某種志工計畫一樣。你可能會想，

well what's the point? Why not just pay for things with PayPal or Mastercard like a normal

所以呢？為什麼不就用 PayPal 或是 Mastercard 來支付東西，就像

person? And it's a good question. But bitcoin has one big advantage over conventional payment networks.

個普通人一樣。這是個好問題。但是比特幣有個傳統支付系統沒有的優點

It's an open platform. To become a Mastercard merchant, you have to apply for permission,

它是個開放的平台。要成為 Mastercard 用戶，你必須申請許可

pay a lot of fees to Mastercard, comply with hundreds of pages of regulations.

付很多手續費給 Mastercard，服從一頁又一頁的規則

Bitcoin is different. Anyone can use it. It's free.

比特幣就不一樣了。任何人都可以用它。他是免費的。

And there are no rules limiting what bitcoin-based services can do.

而且沒有任何限制於比特幣能達成的服務

An open technology platform like this can become a hotbed of innovation.

如此的一個開放技術平台可以成為創新的溫床

Think about the internet. People were as baffled by the internet in the 1980s

想想網路吧，人們在八零年代時對網路還很困惑

as they are about bitcoin today. The internet was unusable then.

就像他現在對比特幣的看法一樣。那時網路根本不能用。

It seemed ridiculous that anybody would ever find anything useful to do on it.

有人能用網路開發出有用的工具是個可笑的想法。

Eventually, that freedom allowed people to build great companies like Amazon and Google and Facebook.

最後，這種自由讓人可以開發出如 Amazon、Google、和 Facebook 的公司

The buzzword here is "permissionless innovation."

這裡的關鍵字是「去中心化創新」

You can do cool things without any central authority being able to tell you no.

你可以做很多很酷的事，而沒有任何的中央主管組織能跟你說「不」

In the same way, bitcoin can become a platform for building a new generation of

同理，比特幣可以成為一個平台，用來建立新世代的

financial services, like international money transfers that are faster and cheaper than Western Union,

金融服務，例如比西聯匯款更快，更便宜的國際匯款

better security for everyday purchases, and perhaps new services that aren't

更安全的日常消費，說不定還會有

even possible with conventional payment networks. We don't know what this stuff will be.

傳統支付系統無法做到的新服務。我們不知道這會是什麼。

But now that bitcoin is here, we're going to find out.

但現在有了比特幣，我們就來等著看吧