My point is that governments such as China have tried and are failing to stop their stocks from falling (despite injecting billions of RMB per day).
No amount of manipulation will work - if it did we would never have had the GFC nor what is coming (which I think is going to be worse).
If you really have something that works better than all the other professionals in the world that do this stuff can come up with you truly deserve a Nobel prize.
And as I've stated, it's not the intention to stop the price from falling indefinitely if that is really what the market wants, that would rightly be a ridiculous objective.
But smoothing out the short term, in a controlled (not manipulated) manner is most certainly desirable IMO. Or does everyone want speculative, manipulated crypto-currencies behaving more like commodities, that will never see mass market use because of the resulting massive volatility?
Another issue that faces traditional monetary systems is that the feedback loop is full of delays. By the time the controlling authority has all the information about what the economy is doing and makes a decision on what the best course of action is, the economy is already doing something totally different.
In a system such as this, there isn't that large delay, its to the minute (or even second) information on economic behavior, thus the reaction to it will be more relevant and be more efficient.