 So I have a two-part question and both are really related to social norm. So before bit currency and as a matter of fact before centrally controlled currencies, people always barter. People even barter today. And I see Bitcoin perhaps will promote more of that barter of services for exchange of bitcoins. That's one question. Is this really nothing but to promote more barter of services across the globe among people? And second part is, given that bit currency requires such technologies and access to computers and network, would you still leave billions of people behind who don't have access to the technology? Thank you. Those are two very good questions. In mainstream economics, barter is considered an oddity because it only scales to very small levels. In fact, there's a close correlation between barter and the dumb bar numbers. Anybody familiar with that? The dumb bar number is the maximum size a social group can reach without trade, language, or currency. It's the limit to social organization in a flat, non-hierarchical structure. We first observed this in primates. The largest troop of chimpanzees, for example, that you will see before they split into two tribes, inevitably start fighting each other, is about 150 members of the species. That's called the dumb bar number. We see that in human populations, too. It's why you feel at home at the village because everybody knows everybody. It's where you can have social organization without intermediaries. Barter only scales to that. Part of the reason it only scales to that is because barter creates this complexity of trying to price services in other services, or products in other products. If you're a hairdresser and you want chickens and you want to cut hair for chickens, you have to figure out what the exchange rate between haircuts and chickens is. But then if you want to get an oil change at the garage, you need to figure out what the exchange rate of hairdressers, haircuts to oil changes is. Then you have to keep this very complicated matrix of exchange rates between all of the products and services. We found a solution to that about 4,000 years ago called money. It turns out, if you just dominate everything in money, you have one exchange rate between money and everything else. The best part of money is that it doesn't have intrinsic value or commodity use. Bananas aren't good money because then you eat them. Gold is good money because there's not much you can practically do other than jewelry. Abstract forms of money. Why is money really useful as an abstract form? Because it turns out money is a language. Money is a means of communicating value to each other. It's a linguistic construct. It arises out of civilizations that have the ability to communicate. We can teach it to primates, we can teach it to dolphins, we can teach it to elephants. But money is a uniquely human thing because it's an emergent aspect of civilization. Money is useful because it has no value other than the things you can exchange it for, which do have intrinsic value, the things that you eat, for example. It's not a BARDA system. In fact, once you realize that Bitcoin is the first form of completely programmable digital money, money that responds to inputs and creates different conditions, money that can be constrained in ways... through programmatic technologies. For example, you can create Bitcoin or other digital currencies that are only spendable... if you have two out of three signatures in a governance system. You can say, for this account, the CO and the CTO must sign in order to spend it. That's a simple example of what we call a smart contract in this space. This is a lot more than BARDA. The second thing relates to technology. I would agree with you. There is a prerequisite of technology. Right now, the people who use this technology are primarily educated, technologically literate... and fairly affluent people. But that's not how it's always going to be. I think one of the great parallels to this is the development of cell phones. I don't know if you remember, I got my first cell phone in 1991. It was about this big. It lasted 15 minutes for a call on one battery charge. I had to be near a station to actually use it. I was so cool, because I was in college, so I was like, hello. At the time, we had just emerged from the environment where, in order to have one of these... portable telephones, you needed a car to install it in. We had migrated past the size of a suitcase that you have to carry... with a little headset that you pulled out and had finally reached full portability. It was a status symbol. Who thinks a phone is a status symbol today? In fact, it's more of a status symbol to have your assistant carry your phone. The most powerful people in the world don't answer phones or carry them. They have an army of people carrying phones for them. The status symbol is to leave it behind. Who has phones now? The most produced phone in the world is the Nokia 3000. It's been produced by the billions. You will find it in the furthest parts of the Brazilian Amazonian basin. You will find it in sub-Saharan Africa. The tiniest village that has nothing else, has a solar panel and a Nokia phone. The sound of civilization arriving in the world today is... Remember that sound? That's how that technology evolved. What if we can take Bitcoin and put it on those devices? Now we're seeing this happening with Android devices. The average price for the cheapest Android phone you can get is about $25 today. Most experts believe that by the next three years, you will be able to buy an Android phone. A full smartphone with, say, an ARM Cortex processor for about $1. Now, what happens when this $1 device is simultaneously a Western Union remittance termination point, a Wells Fargo wire transfer station, a Bloomberg terminal for trading stocks? What happens when that device is a bank and you can hold it in your hand and be a banker? We will not leave billions behind. In fact, we will deliver a bank to the pockets of 7.5 billion people with this technology. The goal of Bitcoin is not to bank the world, but to de-bank all of us.