No one would sell their home for bit coins unless they are confident
they could repurchase a similar home for the same number
of bit coins several years later. At this point in time, no one can
reliably predict the value of bit coins next week, let alone in a
few years.
Until BTC has trustworthy,stable, purchasing power it will
be of little relevance to the vast majority of people.
As we have all seen, the price of BTC fluctuates like
the wind. Just this past few days, I've seen swings from under
$400 to over $700 per coin. That, my friends, is not trustworthy,
stable purchasing power.
I would be interested in submitting a BIP. The BIP would propose that
if I mine, trade for or buy a bit coin at a moment in time (lets say UTC 12:00:00am on 12-21-xx)
that coin will always have the market value at that time, or more.
This would boost confidence and trust in the bit coin by establishing a floor value
for any coin held. That's the desire of my idea for a BIP. The above is one
possible implementation and I hope some of you will grab hold of this idea and
help me pursue it. Without stable purchasing power, the bit coin is doomed.
James