Kyle, this is going to sound very random, but I found out from a Facebook posting by your mom of the Wired article about Coinpunk[1] the other day that your mom

Kyle, this is going to sound very random, but I found out from a Facebook posting by your mom of the Wired article about Coinpunk[1] the other day that your mom and I grew up just down the block from each other. So I have to be glad to see someone with roots (the generation before) in my hometown posting here on Hacker News. That said, I wonder if it isn't possible for people on both sides of the issues around Bitcoin to lose perspective once in a while. Just three weeks ago, you wrote here on HN[2] The congressional hearings were very upbeat about Bitcoin. Once the word got out that there wasn't any intention to ban it, a lot more people got interested. And China. The China part isn't working out quite so well now. The United States part of Bitcoin regulation will, I suspect as someone trained in the law, depend a lot on what trade-offs are perceived in different patterns of regulating Bitcoin by the most influential interest groups in Congress who care about Bitcoin. I wouldn't predict today that Bitcoin will never face an unfavorable regulatory environment in the United States, despite the hearings three weeks or so ago. So, yes, I think your most responsible advice I fully agree with: When friends and family ask if they should buy Bitcoin, I immediately warn them that getting into Bitcoin solely on price increase speculation is akin to gambling or stock investing and should be treated as such. That's about where I am with Bitcoin. It has some interesting ideas behind it, and I'm glad that creative people are exploring those ideas and seeing what Bitcoin might be good for in today's and tomorrow's economy. But you are correct that Bitcoin is not a sure-fire way to get rich soon. [1] http://www.wired.com/wiredenterprise/2013/12/coinpunk/ http://www.wired.com/wiredenterprise/2013/12/coinpunk/ [2] https://news.ycombinator.com/item?id=6808450 https://news.ycombinator.com/item?id=6808450