What's wrong with speculation? Pretty much every single transaction is a form of speculation. Bitcoin isn't pegged to any real resource, precious metal, or fiat

What's wrong with speculation? Pretty much every single transaction is a form of speculation. Bitcoin isn't pegged to any real resource, precious metal, or fiat currency. Its value is 100% dependant on the market and speculation is a 100% valid use of it. Maybe the bitcoin authors should have worried about that, if it actually matters. I'm always amused that speculators are ruining everything. When gas goes up, its speculators, but when it goes down its just a magical gift. The same way when a patient dies its because the doctor is an incompetent, but if the patient survives, it was Jesus. Personally, I see speculation as a feature, not a bug. It brought attention to the currency and probably raised its value from a doge-coin-like joke to a legitimate way of exchanging value and having it become the defacto electronic currency. I keep hearing these arguments from bitcoin supporters and its ridiculous. Currencies are constantly being invested into, speculated, etc. If your currency can't handle that, then your currency sucks. The people trying to make a profit aren't going away. Heck, they may be the vast majority of bitcoin users! I imagine bitcoin's volatility is just never going to go away. Any cryptocurrency is going to have the same issues. Using bitcoin is making a risky gamble. This is why we're not paying our mortgages with it.