 I have a question about Bitcoin governance. I would like to know your point of view about establishing a fee market for Bitcoin because I'm very concerned about transaction being very easy for poor people and having very low fees to transact money over the world. And I know that there is a portion of the community that want to establish a fee market for Bitcoin that could raise actually fees for transferring money, transferring Bitcoin. I want to have your point of view on this subject. Thank you. So there is a fee market for Bitcoin now. There has been a fee market and that fee market was not important until we reached the point where capacity was critical. And fee markets don't matter if you have unlimited capacity. And once you reach a point where capacity is constrained, then fee markets come into play. Fee markets are not a choice. Fee markets are not, hey, shall we do a fee market or shall we not do a fee market? Markets happen. And you can say, don't do a market, and markets will happen anyway. So fee markets will happen. And if you don't make a primary fee market, people are going to build a secondary fee market by using up all of the space and then reselling it in a fee market. So fee markets will happen whether you like it or not. The question is, how do we create the possibility of fulfilling transactions at much greater volume for people who can't afford the current level of fees, or if it continues to rise? And the answer we seem to be arriving at is through the use of layers above Bitcoin. So secondary and tertiary layers above Bitcoin, the most promising of which at the moment is the Lightning Network, which is a system of bidirectional payment channels that are established with settlement into Bitcoin, but which allow a much, much higher rate of transactions, millions of transactions per second in the order of millisecond latency and very, very small fees. So those would enable not just micro transactions, but what I like to call nano transactions. So very, very small transactions with very, very small or no fees. And then if that gets used, we're going to have capacity problems, and then we're going to have to find another scaling solution, and if that gets used, we'll find another scaling solution. We keep doing that for 25 years. We'll be as successful as the internet has in terms of continuously evolving to scale to the new applications. The problem you've got to understand, and this is something that most people find difficult to understand, the blockchain platform, specifically the Bitcoin blockchain, which is the highly secure, very robust, decentralized platform, is a very valuable commodity for applications. So if you have zero fees, then everybody uses it to back up their computers directly onto the blockchain. Why not? Like, I would back up my computer, I'd dump gigabytes on there, great, fantastic. It's replicated internationally. There's an entire reward system to make sure that everybody keeps my data back up forever. And it's free. So what would happen? We'd use it to its full capacity. The fees make sure that it's not economical for such uses, which restricts its use a bit. But if you increase the capacity of the blockchain, the applications would expand to fill that capacity. So applications on the Bitcoin blockchain behave exactly like a gas. Do you remember physics? Gas always expands to fill the container, and the blockchain is the container. If you gave me a blockchain today and you said, it can do a billion transactions, normal people would be, hmm, I don't know what we could use a billion transactions for. Computer engineers would be, huh, I wonder what I could use a billion transactions a second for. I know, and then write an application that does exactly that. I once had someone ask me, do you really need a gigabit connection at home? Yeah. I'm a computer engineer. You give me a gigabit connection in 24 hours, I have it pegged at 1 gigabit up, 1 gigabit down, full time. You give me a 10 gigabit connection, I will make a backup of the entire internet. You give me 100 gigabit connection, I will back up every VR3D, 4K, HD movie there ever is. And then serve it to the entire world and fill 100. There is no limit. No matter what capacity you create, an engineer will invent an application to fill it. So fee market is how you stop that from happening. And how you basically say, we have to make choices about which transactions are important or not. There are two ways to make choices. One is through authority, and the other is through a market. So authority says, I think this is a good transaction, and this isn't. And you've got to decide who makes that decision. And the problem is, they decide for everyone. And that's not a very good way of doing it. A market-based solution says, if the person sending the transaction thinks it's worth paying a fee, then it's a legitimate transaction, finished. And that's the way you open it for people to do applications. Now, that's going to cause some problems for adoptions, especially in countries where a microtransaction is not a euro, it's a rupee. And for that, we're going to need to build higher-level algorithms.