<p><strong>比特币</strong>（BTC -0.56%）和 <strong>柴犬币</strong>（SHIB -2.14%）通常吸引不同类型的投资者。比特币是全球最大的加密货币，市值为 2.43 万亿美元，被视为一种 “蓝筹” 代币，因其稀缺性而受到重视，常常与黄金进行比较。</p>
<p>柴犬币的市值为 72 亿美元，是一种模因币，最初是作为 <strong>狗狗币</strong>（DOGE -0.53%）的恶搞而创建的——狗狗币本身也是对比特币的恶搞。在过去的 12 个月里，这种以犬类为主题的币种价值下降了约 30%，而比特币的价格则上涨了 95%。</p>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzY5ODIvc2hpYmEtaW51LWRvZy1kb2dlLWRvZ2Vjb2luLmpwZWcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzY5ODIvc2hpYmEtaW51LWRvZy1kb2dlLWRvZ2Vjb2luLmpwZWcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<p>对于大多数投资者来说，购买比特币可能比购买柴犬币更有意义。但让我们深入探讨一下，看看是否有合理的逆向投资理由，支持购买柴犬币而非比特币。</p>
<h2>比特币与柴犬币的区别</h2>
<p>比特币仍然采用能源密集型的工作量证明（PoW）机制进行挖矿。其挖矿难度每四年上升一次，随着计划中的 “减半” 事件将奖励减半，已有 1990 万个代币被挖掘，最大供应量为 2100 万个。这样的编程稀缺性使其类似于黄金或其他硬资产。</p>
<p>美国证券交易委员会（SEC）注意到比特币与主流商品的相似性，于去年一月批准了首个现货价格交易所交易基金（ETF）。许多公司、机构投资者甚至国家都在积累比特币，以对冲通货膨胀。</p>
<p>柴犬币是一个在以太坊（ETH 0.30%）上铸造的 ERC-20 代币，运行在节能的权益证明（PoS）机制上。PoS 区块链不支持挖矿，但支持智能合约——可用于开发去中心化应用（dApps）、非同质化代币（NFT）和其他加密资产。PoS 代币也可以被 “质押”，即锁定以获得类似利息的奖励。</p>
<p>由于柴犬币是在以太坊上铸造的，并且仍然运行在其第一层（L1）区块链上，因此它本身不支持开发自己的应用。其全部供应量为 1 千万亿个代币，在推出时就已铸造完成，而其定期销毁（永久性移除其代币流通）已将流通供应量减少到大约 589.5 万亿个代币。但目前看来，任何加密公司向 SEC 提交柴犬币 ETF 的申请似乎不太可能。</p>
<h2>柴犬币的牛市和熊市案例是什么？</h2>
<p>柴犬币的未来增长依赖于其在 2023 年推出的第二层（L2）网络 Shibarium。通过将交易捆绑在一起并在链外处理，Shibarium 可以提供比以太坊的 L1 区块链更高的交易速度和更低的手续费。它还完全支持与以太坊兼容的智能合约以及去中心化应用和代币的开发。为了吸引更多开发者到 Shibarium，柴犬币团队一直在添加新的开发者工具和资源、开发者补贴的手续费以及具有更严格安全协议的改进质押模型。然而，其网络在今年九月仍然经历了一次重大安全漏洞。</p>
<p>看涨者预计，随着 Shibarium 吸引更多开发者和 dApp 用户，柴犬币的价格将稳定并上涨。但它也面临来自其他以太坊基础的 L2 网络如 <strong>Arbitrum</strong>（CRYPTO: ARB）和 <strong>Polygon</strong>（CRYPTO: MATIC）的激烈竞争，以及来自更快、更便宜的 L1 PoS 区块链如 <strong>Solana</strong>（CRYPTO: SOL）的竞争。</p>
<p>如果没有任何突出的特点，柴犬币可能会难以吸引更多投资者。即使下降的利率在未来 12 个月内点燃新的 “加密夏季”，柴犬币也可能会被抛在后面——就像过去一年一样——当看涨者蜂拥向比特币和以太坊等蓝筹代币。</p>
<h2>购买柴犬币而非比特币是否有逆向投资的理由？</h2>
<p>一些投资者可能认为柴犬币的上涨潜力超过比特币，因为它是一个遥远的黑马。但在加密市场中，许多黑马由于无法通过稀缺性或开发者生态系统的增长潜力来评估，最终被抛在了后面。这就是为什么柴犬币在可预见的未来可能会表现不佳于比特币的原因。比特币有明确的催化剂在前方，而柴犬币可能会在竞争中迷失，难以跟上更有前景的 PoS 代币如以太坊和 Solana。</p>

GBTC

<p>这篇文章比较了比特币和柴犬币，突出了它们在投资者吸引力和市场动态方面的差异。比特币作为一种稀缺的蓝筹加密货币，在过去一年中价值上涨了 95%，而柴犬币作为一种表情币，则下跌了 30%。比特币的挖矿过程和机构采用与柴犬币依赖的第二层网络 Shibarium 形成对比，后者面临竞争和安全问题。尽管一些投资者看好柴犬币的潜力，但其缺乏独特特性可能会阻碍其相较于比特币和其他成熟加密货币的增长</p>

<p><strong>Bitcoin</strong>(BTC -0.56%) and <strong>Shiba Inu</strong>(SHIB -2.14%) generally attract different types of investors. Bitcoin, the world's largest cryptocurrency with a market cap of $2.43 trillion, is a &#34;blue chip&#34; token valued by its scarcity and often compared to gold.</p>
<div class="lb-trans"><p><strong>比特币</strong>（BTC -0.56%）和 <strong>柴犬币</strong>（SHIB -2.14%）通常吸引不同类型的投资者。比特币是全球最大的加密货币，市值为 2.43 万亿美元，被视为一种 “蓝筹” 代币，因其稀缺性而受到重视，常常与黄金进行比较。</p>
</div><p>Shiba Inu, which has a market cap of $7.2 billion, is a meme coin that was originally created as a parody of <strong>Dogecoin</strong>(DOGE -0.53%) -- which itself was a parody of Bitcoin. Over the past 12 months, that canine-themed coin shed about 30% of its value as Bitcoin's price surged 95%.</p>
<div class="lb-trans"><p>柴犬币的市值为 72 亿美元，是一种模因币，最初是作为 <strong>狗狗币</strong>（DOGE -0.53%）的恶搞而创建的——狗狗币本身也是对比特币的恶搞。在过去的 12 个月里，这种以犬类为主题的币种价值下降了约 30%，而比特币的价格则上涨了 95%。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MzY5ODIvc2hpYmEtaW51LWRvZy1kb2dlLWRvZ2Vjb2luLmpwZWcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F836982%2Fshiba-inu-dog-doge-dogecoin.jpeg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><p>For most investors, it might make more sense to buy Bitcoin than Shiba Inu. But let's dig deeper and see if there's a valid contrarian case for buying Shiba Inu over Bitcoin.</p>
<div class="lb-trans"><p>对于大多数投资者来说，购买比特币可能比购买柴犬币更有意义。但让我们深入探讨一下，看看是否有合理的逆向投资理由，支持购买柴犬币而非比特币。</p>
</div><h2>The differences between Bitcoin and Shiba Inu</h2>
<div class="lb-trans"><h2>比特币与柴犬币的区别</h2>
</div><p>Bitcoin is still mined with the energy-intensive proof-of-work (PoW) mechanism. Its mining difficulty climbs every four years with scheduled &#34;halvings&#34; that cut its rewards in half, and 19.9 million of its maximum supply of 21 million tokens have already been mined. That programmed scarcity makes it similar to gold or other hard assets.</p>
<div class="lb-trans"><p>比特币仍然采用能源密集型的工作量证明（PoW）机制进行挖矿。其挖矿难度每四年上升一次，随着计划中的 “减半” 事件将奖励减半，已有 1990 万个代币被挖掘，最大供应量为 2100 万个。这样的编程稀缺性使其类似于黄金或其他硬资产。</p>
</div><p>The Securities and Exchange Commission (SEC), noting Bitcoin's similarity to mainstream commodities, approved its first spot price exchange-traded funds (ETFs) last January. Many companies, institutional investors, and even countries have been accumulating Bitcoin as a hedge against inflation.</p>
<div class="lb-trans"><p>美国证券交易委员会（SEC）注意到比特币与主流商品的相似性，于去年一月批准了首个现货价格交易所交易基金（ETF）。许多公司、机构投资者甚至国家都在积累比特币，以对冲通货膨胀。</p>
</div><p>Shiba Inu is an ERC-20 token that was minted on Ethereum (ETH 0.30%), which runs on the energy-efficient proof-of-stake (PoS) mechanism. PoS blockchains don't support mining, but they support smart contracts -- which can be used to develop decentralized apps (dApps), non-fungible tokens (NFTs), and other crypto assets. PoS tokens can also be &#34;staked,&#34; or locked up to earn interest-like rewards, on their blockchains.</p>
<div class="lb-trans"><p>柴犬币是一个在以太坊（ETH 0.30%）上铸造的 ERC-20 代币，运行在节能的权益证明（PoS）机制上。PoS 区块链不支持挖矿，但支持智能合约——可用于开发去中心化应用（dApps）、非同质化代币（NFT）和其他加密资产。PoS 代币也可以被 “质押”，即锁定以获得类似利息的奖励。</p>
</div><p>Since Shiba Inu was minted on Ethereum and still runs on its Layer-1 (L1) blockchain, it doesn't natively support the development of its own apps. Its entire supply of 1 quadrillion tokens was minted upon its launch, while its periodic burns (which permanently remove its tokens from circulation) have reduced its circulating supply to roughly 589.5 trillion tokens. But for now, it seems unlikely that any crypto firms will submit applications for Shiba Inu ETFs to the SEC.</p>
<div class="lb-trans"><p>由于柴犬币是在以太坊上铸造的，并且仍然运行在其第一层（L1）区块链上，因此它本身不支持开发自己的应用。其全部供应量为 1 千万亿个代币，在推出时就已铸造完成，而其定期销毁（永久性移除其代币流通）已将流通供应量减少到大约 589.5 万亿个代币。但目前看来，任何加密公司向 SEC 提交柴犬币 ETF 的申请似乎不太可能。</p>
</div><h2>What are the bull and bear cases for Shiba Inu?</h2>
<div class="lb-trans"><h2>柴犬币的牛市和熊市案例是什么？</h2>
</div><p>Shiba Inu's future growth is pinned to Shibarium, its Layer-2 (L2) network that was launched in 2023. By bundling together transactions and processing them off-chain, Shibarium can provide higher transaction speeds and lower gas fees than Ethereum's L1 blockchain. It also fully supports Ethereum-compatible smart contracts and the development of dApps and tokens. To draw more developers to Shibarium, Shiba Inu's team has been adding new developer tools and resources, developer-subsidized gas fees, and a revamped staking model with tighter security protocols. However, its network still experienced a significant security breach this September.</p>
<div class="lb-trans"><p>柴犬币的未来增长依赖于其在 2023 年推出的第二层（L2）网络 Shibarium。通过将交易捆绑在一起并在链外处理，Shibarium 可以提供比以太坊的 L1 区块链更高的交易速度和更低的手续费。它还完全支持与以太坊兼容的智能合约以及去中心化应用和代币的开发。为了吸引更多开发者到 Shibarium，柴犬币团队一直在添加新的开发者工具和资源、开发者补贴的手续费以及具有更严格安全协议的改进质押模型。然而，其网络在今年九月仍然经历了一次重大安全漏洞。</p>
</div><p>The bulls expect Shiba Inu's price to stabilize and rise as Shibarium attracts more developers and dApp users. But it also faces stiff competition from other Ethereum-based L2 networks like <strong>Arbitrum</strong>(CRYPTO: ARB) and <strong>Polygon</strong>(CRYPTO: MATIC), as well as faster and cheaper L1 PoS blockchains like <strong>Solana</strong>(CRYPTO: SOL).</p>
<div class="lb-trans"><p>看涨者预计，随着 Shibarium 吸引更多开发者和 dApp 用户，柴犬币的价格将稳定并上涨。但它也面临来自其他以太坊基础的 L2 网络如 <strong>Arbitrum</strong>（CRYPTO: ARB）和 <strong>Polygon</strong>（CRYPTO: MATIC）的激烈竞争，以及来自更快、更便宜的 L1 PoS 区块链如 <strong>Solana</strong>（CRYPTO: SOL）的竞争。</p>
</div><p>Without any standout features, Shiba Inu could struggle to attract more investors. Even if declining interest rates ignite a new &#34;crypto summer&#34; over the next 12 months, Shiba Inu could be left behind -- as it was over the past year -- as the bulls rush toward blue chip tokens like Bitcoin and Ether.</p>
<div class="lb-trans"><p>如果没有任何突出的特点，柴犬币可能会难以吸引更多投资者。即使下降的利率在未来 12 个月内点燃新的 “加密夏季”，柴犬币也可能会被抛在后面——就像过去一年一样——当看涨者蜂拥向比特币和以太坊等蓝筹代币。</p>
</div><h2>Is there a contrarian case for buying Shiba Inu over Bitcoin?</h2>
<div class="lb-trans"><h2>购买柴犬币而非比特币是否有逆向投资的理由？</h2>
</div><p>Some investors might think Shiba Inu has more upside potential than Bitcoin because it's a distant underdog. But in the crypto market, a lot of the underdogs get left behind because they can't be gauged by their scarcity of the growth potential of their developer ecosystems. That's why Shiba Inu could underperform Bitcoin for the foreseeable future. Whereas Bitcoin has clear catalysts on the horizon, Shiba Inu could get lost in the shuffle and struggle to keep up with more promising PoS tokens like Ether and Solana.</p>
<div class="lb-trans"><p>一些投资者可能认为柴犬币的上涨潜力超过比特币，因为它是一个遥远的黑马。但在加密市场中，许多黑马由于无法通过稀缺性或开发者生态系统的增长潜力来评估，最终被抛在了后面。这就是为什么柴犬币在可预见的未来可能会表现不佳于比特币的原因。比特币有明确的催化剂在前方，而柴犬币可能会在竞争中迷失，难以跟上更有前景的 PoS 代币如以太坊和 Solana。</p>
</div>

你是否应该放弃比特币，转而购买柴犬币？