Bitcoin has bounced back in China, helping to push the virtual currency back above $1,000 a unit, as exchanges devise workaround solutions to the regulatory crackdown last month.
比特币在中国展开反弹，推动这种虚拟货币的单价重返1000美元上方。针对监管机构上月出台的打击措施，各交易所拿出了变通办法。
When Chinese regulators banned financial institutions from doing business with Bitcoin exchanges last month, the move was thought by many to spell the end for the virtual currency in China. Would-be buyers were told they would no longer be able to transfer cash on to exchanges via digital payment platforms, in effect making it impossible to buy Bitcoins.
中国监管机构上月禁止金融机构经手比特币交易所的业务后，很多人以为此举标志着这种虚拟货币在中国的前途已被画上句号。潜在买家被告知，他们将不再能够通过数字支付平台向交易所转移资金，这实际上使他们无法购买比特币。
“In the darkest hours we thought everything was going to come crashing down and the game was over,” said Bobby Lee, co-founder of BTC China, one of the country’s top exchanges.
“在最黑暗的时刻，我们以为一切将要塌下来，游戏结束了，”中国最大的交易所之一“比特币中国”(BTC China)的联合创始人李启元(Bobby Lee)表示。
But China’s Bitcoin brigades have defied that gloomy outlook to start the new year much as they left off 2013 – with a dominant share of global transactions in the virtual currency.
但中国的比特币大军克服了这种黯淡前景，新的一年开始之际，他们的地位与2013年期间差不多，仍然在这种虚拟货币的全球交易中占有龙头份额。
In the US, Bitcoin received a further fillip after Zynga, the provider of online social network games, said it would begin a pilot programme to accept the virtual currency.
在美国，比特币获得了进一步的提振。在线社交网络游戏提供商Zynga表示，将启动一个接受这种虚拟货币的试点计划。
Bitcoin’s resilience in China is testament to the agility of the leading Chinese exchanges, which have all devised work­around solutions, some in legal grey areas.
比特币在中国的韧性证明了中国各领先交易所的应变能力，它们都设计出了变通办法，其中一些方法处于法律上的灰色区域。
The competitive landscape has changed dramatically as a result. BTC China, which became the world’s biggest Bitcoin exchange by transaction volume in November, saw its share of the global market plunge from more than 30 per cent to less than 5 per cent virtually overnight after it stopped users from making new cash deposits.
其结果是，竞争格局发生了显著变化。在去年11月成为全球交易量最大的比特币交易所的比特币中国，在停止接受用户的现金存款后，看到其在全球市场所占份额几乎在一夜间从30%以上跌至不到5%。
Huobi, its rival, quickly plugged that gap, and then some. It has hosted 58 per cent of global Bitcoin transactions over the past seven days, according to Bitcoinity, a website that tracks the virtual currency.
其竞争对手火币网(Huobi)迅速填补了这一空白，并在此基础上夺得更大份额。据追踪比特币的网站Bitcoinity介绍，火币网在过去7天里处理了全球58%的比特币交易。
Huobi, a Beijing-based exchange, allows users to make direct deposits in its own corporate bank account or even the personal one of Li Lin, its founder, with the company then bringing the money on to its trading platform.
总部在北京的火币网允许用户将款项直接存入其公司账户，甚至是其创始人李林的私人账户，而该公司随即将资金转至交易平台。
BTC China is beginning to fight back. It has created a voucher system that allows people with money on the exchange to sell the right to that cash to people who want to buy Bitcoins.
比特币中国正开始反击。它创建了一种代价券机制，让那些在该交易所拥有储值的人能够向比特币的潜在买家出售储值的所有权。
Yet the resurgent Bitcoin optimism in China still faces one significant hurdle. The ban on financial institutions dealing with Bitcoin has made it all but impossible for the virtual currency to be used in transactions for goods and services.
然而，在中国再现的看好比特币势头仍面临一道重大障碍。禁止金融机构经手比特币的规定，使得这种虚拟货币几乎不可能用于商品和服务的交易。
Even on this front, though, China’s Bitcoin enthusiasts see a sliver of hope.
不过，即使在这方面，中国的比特币爱好者也看到一道希望的曙光。
“In the short term, using Bitcoin for payment or as a currency is clearly not allowed,” said Mr Li of Huobi. “But in the long term, it will depend on the government’s perspective, and that will be shaped by lots of other factors.”
“短期而言，使用比特币付款或者用作货币显然是不允许的，”火币网的李林表示。“但从长远来看，这将取决于政府的想法，而后者将受到其他许多因素的影响。”