 Bitcoin is doomed. I mean, with this rising power, they will soon make it illegal. I got some input from you. Thanks. So here is another update on Bitcoin. And this time, I will talk a little bit about regulations and energy. So regulations. What if they make it illegal? And first of all, this isn't new. Bitcoin is already illegal. All the way from completely banned in some countries too. Some parts like mining or trading regulated in other places. But one of the key principles of Bitcoin is decentralization. And this is the one thing people seem to miss whenever they talk about how blockchain not Bitcoin is the thing and how cryptocurrencies issued by central banks will be a big thing in the future. With Bitcoin, there is no central bank. No one in charge. So no one can print more or manipulate supply. And that's probably the number one feature. If you're not familiar with the power of decentralization, just think of the internet. There is no one to call. I mean, this is illegal. Turn it off or else. And another key, of course, is it's software. So this means you don't need permission from anyone to join. But even anyhow, I mean countries where it's banned, Algeria, Bolivia, Bangladesh, Pakistan, Saudi Arabia, Vietnam, India is talking about it again. They have issued warnings and changed their rules since 2013, at least. And in China, in China, Bitcoin related activities are not prohibited. So some things are fine. Like mining industries using it, but transactions for ordinary people with banks are not okay. But of course, this doesn't mean Chinese people don't trade Bitcoin. I mean, remember what I said, it's decentralized. So they just have to do it peer to peer. It's funny because whenever governments try to ban or restrict Bitcoin, so far at least they just ended up accelerating the adoption. It's like the war on drugs, but much worse. This time it's a war on people holding something much more powerful than drugs and invisible. And of course, the thing that countries, I just told you about, they have one thing in common that they don't back for brutality. And as Bitcoin is threatening the old monetary system of free countries, we will most probably see a lot of really, really weird sessions, not only from Beijing and Delhi, but from Washington DC and Brussels as well. But in the end, restrictions on Bitcoin, on Bitcoin ownership, that will be restrictions that will clash with free speech and property rights. Confiscation, that would require brutality. And I don't think all free countries are prepared to go that way. In the end, closing a border, that will mean just one thing. Freedom is on the outside. So we're talking right now about the separation of state and money. This might be as profound as the separation of state and church some 400 years ago. That was unthinkable back then too. But just like back then, it's all about people sharing information, new ideas. And that's really all we need to do to keep the Bitcoin network running, share information. And to stop that flow, to stop the flow of information, that will be harder than to stop a virus at least. And I don't think the window to pull the brakes is getting smaller for every day now. For you and me, 50K or 60K, that means Bitcoin is more out of reach, more expensive. But to institutional investors, the big banks, the S&P 500 companies, it's the opposite. They couldn't invest in a wild card small like Bitcoin before. But now when we have grown big past a trillion dollar mark, that's when they can start to have a serious discussion without being ridiculed about it. Then there is the energy problem. Bitcoin uses more energy than Argentina. That's according to studied by Cambridge. And yeah, I mean, the energy consumption is close to countries like Argentina or the Netherlands or Norway. I mean, take one step back to be clear. The thing we're talking about right now is the energy needed to protect the world's money, potentially at least. That's what Bitcoin could be. So one could start to compare it to today's solutions, where we have a military for that. So Pentagon, they protect the US dollar. They do so by emitting more greenhouse gases than Portugal. They spend $250 million a day just on gasoline, even though they say the climate change is national security. And that's just one country, big one. But still, I mean, how about other solutions, other industries? Did you know, for example, that 10% of global carbon emissions is from the textile industry, the fashion industry? So yes, Bitcoin uses a lot of energy. And I'm not saying that this is not a problem, but maybe it's not that easy. Maybe we need to have another perspective when we talk about it. Another thing to think about whenever we do this and talk about energy consumption is the fact, the one thing that miners can and will use to compete is energy. I mean, every penny a miner spends on energy is a penny lost on the bottom line, which means that they will move their data centers wherever the energy is at the cheapest. So in the end, they will use excess energy, energy that otherwise wouldn't be distributed to cities. They will turn to renewable energy, solar and wind, whatever is cheaper. And this is not something we can expect to see the Pentagon do any day soon. Who knows? I mean, in the not so distant future, there might be a new world of opportunities for people who live far away from urban areas where energy is expensive to make a living just because they have cheap access to energy. The only way to stop Bitcoin, if you ask me, is to make something better. That day when no one wants a devaluation proof, censorship-resistant, permissionless, borderless, teleporting financial asset, that's the day no one will feed it more energy, so it will die. But until then, Bitcoin will thrive. It's as simple as human nature. Yes, legislators are greedy, self-interested, but so are we. So are all of us. Funny thing when you do some research on this is Bitcoin obituaries. You can Google it. There is this site where they collect all the Bitcoin obituaries. Bitcoin was declared dead 404 times. So far. I'll see you in the future.