EFTA02470106.pdf

From: Vincenzo lozzo Sent: Tuesday, March 8, 2016 11:51 PM To: Jeffrey E. Subject: Profit off tech 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?Item id= 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 <?xml version=.0" encoding=TF-8"?> <!DOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/PropertyList-1.0.dtd"> <plist version=.0"> EFTA_R1_01580951 EFTA02470106 <dict> <key>conversation-id</key> <integer>86867</integer> <key>date-last-viewed</key> <integer>0</integer> <key>date-received</key> <I nteger>1457481075</i nteger> <key>flags</key> <I nteger>8590195713</i nteger> <key>gmail-label-ids</key> <array> <integer>6</integer> <integer>2</integer> </array> <key>remote-id</key> <string>593576</string> </dict> </plist> 2 EFTA_R1_01580952 EFTA02470107