It’s being “used” as a speculative asset. That’s not a firm foundation to run a governmental monetary system on. Maybe there are other cryptocurrencies better suited to the task, but BTC isn’t
Next I transfer it to kraken, convert it to Monero and deposit it on my drug market of choice.
It used to be simpler but this is how I do it nowadays.
3000 years from now what would be the store of value would be the question to ask.
Your marriage is a speculative asset that your wife doesn't cheat on you in future and actually loves you.
S&P is a speculative asset that it will perform like it has been performing in last 30 years.
USD is a speculative asset on US not going bankrupt.
Your career is speculative asset that you don't get fired tomorrow and you can find another job if you do get fired.
Bitcoin is a speculative asset that a decentralized cryptocurrency is better than relying on coins issued by bankruptable nations.
You are a speculative asset of your ego.
So I think I’m missing something. I feel like you’re suggesting that we should be more comfortable speculating because we do it all the time, but I’m not seeing how those are all the same.
You don't know what will happen in any of the cases. You just choose to believe one more over the other based on what has happened in the past.
I suppose where I get lost is that, at least subjectively, I end up treating different anticipated return distributions differently. I want a mixture of risks, both in terms of their covariance and the absolute properties.
When I think of "speculation", I am intentionally shaping only a small portion of my personal portfolio toward high risk, high reward activities. And I only really feel comfortable doing that because a larger fraction of my personal risk is in safer vehicles.
Atop that, I also think a lot about liquidity time bounds. I want access to a reasonable amount of highly-liquid, low-risk investments. I need that flexibility to be safe in the event that I need to buy something.
To my eye at least, I qualitatively differentiate between speculative investments and these liquid/low risk ones. If I felt I only had one kind of risk, I would seek out the other in some proportion.
Spouses are not very fungible though, not that I've ever tried ! ...
Because you wouldn't do either?
BTC has shown itself magically profitable indeed, but its value could only be kept by the ability of holders to keep the asset. Most marriages and some jobs will endure even in the toughest times.
I’m guessing that you had a divorce /and/ that I know the reason why she left you