I am not an economics geek, so take it easy if this idea is stupid
I see bitcoin as mere bubble because of the following reasons:
There is noway to determine the lower boundary of BTC when it start to tumble.
There is no way to stop other dozen *coins to leech value from BTC creating the digital equivalent of money printing.
To solve the above two problems:
why not we try to work out a Bitcoin trust, which operates completely transparently based on gold donations.
BTC trust should promise, gold redemption to BTC based on available gold reserve to bitcoins available.
may be we can tweak bitcoin protocol to transfer a small amount of fee (voluntarily) to the BTC trust.
The small fee could be turned back into gold reserve based on previous redemption rate.
This way once BTC trust after bootstrapped with donated gold, it can grow its gold reserve in a cumulative fashion.
BTC trust should not turn into another central bank, so it has only one function.
Accept gold donation and promise gold redemption to BTC based on available gold reserves transparently.period.
If people donate for companies based on opensource software products, certainly
people will be glad to donate for this opensource gold reserve...
so...
did I solve the BTC bubble problem?