Dear Frederick,

Thank you for taking the time to read my work and thank you for taking the time to share your thoughts on this subject.

I commend you for giving of yourself to the next generation.

I sometimes liken the advent of any new technology to the growth of a Chinese bamboo tree.

For five years, a planted Chinese bamboo tree does not break the soil, but must still be tended to, watered and fertilized. Then after five years, when the first bamboo shoots emerge, the bamboo tree grows 90 feet in five weeks.

The question then is, does it take five years or five weeks for a Chinese bamboo tree to grow 90 feet?

The answer is obvious.

And so it is with a string of other technologies.

Biotechnology, the internet, artificial intelligence and machine learning, augmented reality and virtual reality.

Cryptocurrencies are no different.

Yours,

Patrick