Now, everyone may have noticed that people are using the Bitcoin system to speculate.
The purpose for Bitcoin: To securely move financial value from one point on the planet to another with no errors. though what people are doing is quite amazing! very interesting.
now the sandbox elements of bitcoin currently being exploited by the financial sector is fine, the price of bitcoins should not affect our customers.
as long as an agreed upon price is set between sender and receiver. Bitcoin was originally meant to work under traditional banks infrastructure as a sub-layer of security.
e.g.: if I wish to send money to my mom, I set the price to 100.00(this is the example price for transmission so it does not affect the people using Bitcoin as a speculative commodity,
it should be fair market value so you don't spend an eternity waiting for your order to go through) someone buys my currency and exchanges it into bitcoins, I then in turn tell my mom at what price I bought the bitcoins, she receives the bitcoins goes to the exchange and demands a sell order at the same price. That way no value is lost during the transmission due to the speculators and the transaction fees should be paid to avoid being victim to speculators... otherwise your going to lose your shirt in the transmission if the transmission takes more than an hour.
the market cap of Bitcoin should reflect how much money is being transfered by the system and not as in traditional markets; the measure of value... its just the value of the volume of transactions.
hope you like my solution it is deceptively simple, it solves more than one problem if you realize it
now to add a little food for thought... the market for online payments is...2.7 trillion dollars in transaction fees... would you like a piece of that pie?
