Don't Be Bitten by Bitcoin

I see bitcoin is now priced at close to 3 ounces of gold.  Amazing. Is bitcoin really money?  Well, it does have the characteristic of money: it captures people’s confidence.  Yet, money should be way more stable in value. How big of a bitcoin hoard would have to be sold to lop off 2/3 of its value?  I don’t know, but I expect it isn’t much.

Bitcoin is clearly not for retirement money.