<table><tr><th>From:</th><th>Vincenzo lozzo</th></tr><tr><td>Sent:</td><td>Tuesday, March 8, 2016 11:51 PM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>Profit off tech</td></tr></table>

I've been thinking about Bitcoin and tech stuff for the last few days.

A couple of thoughts that I think might be useful for you as well.

1) a white dude sitting in Europe/US is not going to crack Bitcoin adoption a=ytime soon. Below the answer to the question "why do you care about Bitcoin= I asked to a random person I met at a conference:

" I started school as an art major studying Studio Art, which includes fine a=t, painting, sketching, etc. The money I made from selling paintings, I was=sending back to China via Western Union to pay for my cousin's surgeries an= treatments (stage 3 bone cancer in his femur). I was getting gutted 8-12% d=pending on how much I was sending, and my aunt would have to wait 8-10 busi=ess days to receive it. Even then she'd have to find a Chinese bank that co=perated with Western Union. I thought "Bitcoin" was a company originally, w=th really low remittance fees and really fast (compared to WU) transaction t=me. "

No white, privileged person would say that or know a group of people vast en=ugh for whom "Bitcoin" is useful

2) I was working on something recently and as I was digging into it I realiz=d that I could completely undo their security by flipping one bit.

Think about that: you can undo tens of millions of dollars of investment in s=ftware by flipping one bit.

The moral of the story is: if you take something like Bitcoin the likely way=to make money (speculating on it) is to make it grow and then realize how t=rribly fragile software is. Btw the same would apply for algo trading if th=re wasn't so much regulation/obfuscation around it

3) regulation is coming faster than people realize and nobody has a clue abo=t it. Example, a slightly tweaked version of this: https://tac.bis.doc.gov/=ndex.php/component/docman/doc_view/299-surveillance-software-security-and-e=port-controls-mara-tam?Itemid=

Is most likely what the us government will present in front of 41 countries t= amend Wassenaar. Three random people with no policy experience whatsoever w=ote that.

Moral of this story is: nobody has a clue about how to regulate tech, which m=ans that if you do have a bit of a clue you can influence a lot of that. = Anyway, I figured those considerations might be useful for you.

V

Sent from my (phone

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