If someone can logically answer why there is no mechanism to slow down the rate of printing then I want to hear it.
Because Satoshi Nakamoto didn't add that feature and changing the rules of the entire system that existed since the beginning will upset many people who don't want the rules changed.
then you just pointed out the biggest flaw in the bitcoin algorithm.
Even the US constitution has a mechanism to add or remove items from it.. IE: change the rules.
It's reaching the point where a few of the mining pools might make the decision for us if this continues....
They would rather get 2 BTC per block at 50 dollars... rather than 50 BTC at 2 BTC. Because the amount they have sitting on their machines now would increase as well. Trust me I did the math.
If they reduced the payout to 2 BTC and the price did jump up... it would increase the amount of dollar per BTC for the 100,000 of them they have on their machine...