George, like you, I have had a really hard time seeing Bitcoin as a way of paying for groceries at the local Safeway. But, just like things such as gold it moves up and down, traders set the current bid/ask, and it is liquid. I have traded the futures on Bitcoin successfully for years, both up and down. If it goes to $0, I will no doubt be short, enjoying the ride.
George, like you, I have had a really hard time seeing Bitcoin as a way of paying for groceries at the local Safeway. But, just like things such as gold it moves up and down, traders set the current bid/ask, and it is liquid. I have traded the futures on Bitcoin successfully for years, both up and down. If it goes to $0, I will no doubt be short, enjoying the ride.
Thanks for sharing your thoughts, Tom. The important lesson for me is to not confuse long term fundamental viability with trading to make money.