The crypto markets are in a slump but Tyler and Cameron Winklevoss aren’t discouraged. The twin brothers, who are longtime fixtures in the Bitcoin world, believe digital currency has a bright future—so long as we have banking-style regulations that will help people trust it.

That’s the message behind their first marketing campaign, titled “Revolution Needs Rules,” which has featured a full-page New York Times ad and splashy billboards around Wall Street. The campaign also aims to promote the twins’ crypto exchange, Gemini, and the service’s newly launched app.

“The idea is that companies that build on top of things like Bitcoin should have regulation that’s thoughtful and that doesn’t stifle innovation,” said Tyler on Balancing the Ledger. “People believe in the dream of crypto, they just don’t know how to engage in it without getting burned. We’re here to say Gemini’s a place you can do that.”

Cameron added that cryptocurrency’s growth has been impeded by negative press that associated it with criminals, and by a misperception that Bitcoin is totally anonymous.

The twins say Gemini provides the same safeguards and consumer protections as other financial institutions, and that a fledgling trade group they launched, the Virtual Commodity Association, can become the crypto industry’s version of FINRA (a self-regulated body that oversees securities dealers).

When pressed whether regulators might also be hurting the growth of crypto—notably the state of New York and its ham-fisted management of a digital currency license—the Winklevoss twins didn’t take the bait. Both praised regulators, including the SEC, even though the agency soundly rejected Gemini’s proposal to offer a Bitcoin ETF.

“We get the Commission being conservative on this as it’s the first of many products, and we have to get it right,” said Cameron, adding that Gemini is not currently pursuing a new ETF application.

In terms of the current bear market for crypto, the twins agreed that so-called stablecoins (digital tokens pegged to the U.S. dollar) are a bright spot. According to Cameron, at least 60% of U.S. $100 bills are held overseas—a practice that could be simplified if the holders used stablecoins, including the Gemini Dollar, instead.

Cameron added that stablecoins amount to “dollars on the blockchain,” and can be used for paying for other crypto services or for issuing dividends.

The twins are also sticking to their longtime thesis that Bitcoin is poised to supersede gold one day, thanks in part to the digital currency’s fungibility and divisibility.

“The only thing gold has over bitcoin is a 3000 year head start,” said Cameron.

At the close of the show, the twins confirmed an oft-reported claim that they are the biggest Bitcoin holders in the world—except for the currency’s mysterious creator, Satoshi, who has a vast stash but has not moved his coins for over eight years. And in a moment of true sibling rivalry, Tyler and Cameron each claimed to hold at least slightly more Bitcoin than the other.

虽然加密货币市场正处于低潮期，但泰勒·温克莱沃斯和卡梅隆·温克莱沃斯并未因此而感到沮丧。这对长期活跃在比特币行业的兄弟认为数字货币的未来一片光明，前提是设立类似于银行业务所使用的规章制度，从而帮助比特币获得人们的信任。

这是其首个营销活动“革命应循规蹈矩”所希望传递的信息。他们在《纽约时报》刊登了整版广告，同时在华尔街诸多广告牌上发布了引人注目的广告。此次营销活动的另一个目的是宣传这对兄弟所创建的加密货币交易所Gemini，以及Gemini新发布的app应用。

泰勒在视频访谈栏目《Balancing the Ledger》中说：“我们认为，基于比特币的公司应该设立完善、且不会妨碍创新的规章制度。人们对加密货币的优势充满信心，只是不知道如何在不受到伤害的情况下参与相关交易。我们想说的是，Gemini为人们提供了这样一个理想场所。”

卡梅隆补充道，加密货币的发展受到了媒体负面报道的影响，它们往往将其与犯罪联系在一起，还有人误以为比特币是完全匿名的。

兄弟二人指出，Gemini能够像其他金融机构一样，为消费者提供保障和保护，同时，他们刚刚成立的交易组织Virtual Commodity Association可能会成为加密货币行业的美国金融业监管局（这是一个自律的实体机构，致力于监管证券交易商）。

当被问及监管方是否会阻碍加密货币发展时，尤其是纽约的现状及其对数字货币牌照的严格管理，温克莱沃斯兄弟的答复出乎我们的预料。二人都对监管方提出了表扬，包括美国证券交易委员会，尽管该委员会断然拒绝了Gemini有关开展比特币交易所交易基金的建议。

卡梅隆说：“我们理解美国证券交易委员对此事的保守态度，因为比特币交易所交易基金将是众多加密货币产品中的第一款产品，因此不能出现丝毫纰漏。”他还表示，Gemini当前不会再开展新一轮的交易所交易基金申请。

在谈及当前的加密货币熊市时，兄弟二人认为业界所称的稳定币（与美元挂钩的数字代币）是一个亮点。卡梅隆称，至少有60%的百元面值美钞都在海外，如果持有者使用Gemini Dollar等稳定币，那么使用起来将会更加简便。

卡梅隆还指出，稳定币相当于“区块链上的美元”，而且可以被用于支付其他加密货币服务，或用于派发分红。

兄弟二人还重申了其长期以来的观点：得益于数字货币的可互换性和可分割性，比特币有望在某一天取代黄金。

卡梅隆表示：“与比特币相比，黄金的唯一优势便是面世时间早了3000年。”

在节目结束时，兄弟二人确认了一个广为报道的言论：他们是除比特币神秘的创始人中本聪之外全球持有比特币最多的人。中本聪有着海量的比特币存货，但这些比特币在过去8年中一直没有移动过。在谈到兄弟二人谁持有更多比特币时，泰勒和卡梅隆均称自己的持有量略超过对方。（财富中文网）

译者：Charlie

审校：夏林