You can't accuse Bitcoin of price instability when you define its price relative to the US fucking dollar lol. It's not even being used as money right now, but as an investment to make money, hence the volatility. It's also being used as a hedge against the dollar because the dollar is shit. Plenty of things cause Bitcoin to go up and down in value, and most of them wouldn't be present if we deleted the dollar.
Then again, maybe you know something I don't. What mechanism do you propose would cause a massive value increase in Bitcoin when it's being used as money instead of as a way to buy 2500 dollars with 500 dollars? The mechanism that causes the US dollar to fluctuate in value is known, and its name is the Federal Reserve.
You can't accuse Bitcoin of price instability when you define its price relative to the US fucking dollar lol. It's not even being used as money right now, but as an investment to make money, hence the volatility. It's also being used as a hedge against the dollar because the dollar is shit. Plenty of things cause Bitcoin to go up and down in value, and most of them wouldn't be present if we deleted the dollar.
Then again, maybe you know something I don't. What mechanism do you propose would cause a massive value increase in Bitcoin when it's being used as money instead of as a way to buy 2500 dollars with 500 dollars? The mechanism that causes the US dollar to fluctuate in value is known, and its name is the Federal Reserve.