The only way it "works" is if people start using it to pay for goods and services.
Right now it is an investment vehicle for speculation. And the crazy volatility suggests to me that most people won't feel comfortable using this as a currency for transactions, until the volatility decreases immensely.
Right now it is an investment vehicle for speculation. And the crazy volatility suggests to me that most people won't feel comfortable using this as a currency for transactions, until the volatility decreases immensely.