Dear Joseph H Sadove,

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

It has never been my habit to call a “time” publicly as to when to allocate resources in Bitcoin or any other cryptocurrency for that matter. Investment of any form involves risk, meaning that any predictions will also include tail risk, unknown unknowns and unforeseeable circumstances, Bitcoin is one that is particularly susceptible given its unconstrained nature as an asset.

That Bitcoin is used in all manner of criminal and nefarious activity, from drugs to weapons, terrorism to money laundering and of course capital flight, says nothing about its validity as a means of value transfer.

To be sure, the invention of gunpowder brought about no shortage of pain, suffering, death and despair, but at the same time gave us fireworks, bored through mountains to make tunnels and helped us to restructure the environment we live in.

Trying to decide if an invention is immoral or not misses the point, more important I would suggest is whether an invention fulfills a utility.

Yours,

Patrick