Bill Barhydt and Abra, First of all, congratulations on the latest $16M fundraising round as well as your other successes thus far. Your accomplishments within the Bitcoin community do not go unnoticed and are certainly appreciated - at least by this observer. Each accomplishment brings you closer to fulfilling your vision, and that should bring excitement to anyone aware of what you aim to achieve. Abra has been on my radar for quite some time, but the size of your blip on my radar significantly expanded in January of this year. At that time, you announced your peer-to-peer Teller system, and after reading about it, I immediately thought it could be one of the most impactful ideas to come out of the Bitcoin ecosystem. This Teller system, or app, seems like one of the first implementations to really take advantage of Bitcoin's remittance potential. It keeps the peer-to-peer, decentralized nature of Bitcoin intact; and it seems capable of expanding into many different regions throughout the world - without needing an exchange or company employee to complete money transfers. Instead, you created a system that works much like Uber. You have normal, everyday people facilitating the transfer of money through an app and earning a small fee for their service. To me, this is ingenious, and because the innovation operates in "Uber-like" fashion, your service should be useful in all regions of the world. It's no surprise that all four investors were interested in your company on Planet of the Apps, but let's transition into the purpose of this letter. I believe Bitcoin to be the fairest form of money to ever exist, and my desire is for it to be used in daily commerce by everybody throughout the world. I would like for this to happen because the benefits of Bitcoin can make the world a better place for those that need it most - those that suffer from unstable currencies and economies in less well-off nations of the world. The people living in this type of environment could finally have a reliable form of money to save, use, and transact with; and this would likely improve their individual economic situations as well their local economies. Knowing my desire, you can probably understand why I look upon your company so highly. Abra gives this desire hope. Now, over this past year, hope for materialization of this desire began to fade once transaction fees rose to over a dollar. When this occurred, I became concerned that people would be priced-out from using it, and that certain applications would no longer be feasible; especially when it came to remittances. Ultimately, because of the capacity restraint and its high fee consequence, Bitcoin reaching a worldwide audience began to seem implausible. After all, how would worldwide adoption happen when the majority of the world was priced-out from using it? Fortunately, a faction of the community upgraded the capacity by forking Bitcoin into Bitcoin Cash, and as a result, the attributes necessary for bringing Bitcoin to a worldwide audience are back. Capacity and fees are no longer an issue, and the vision behind Bitcoin Cash is one where this remains permanent. When on-chain capacity needs to be increased, it

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