I don't care what letters are next to your name, but if you have as much education in economics as you suggest, then your argument is extremely odd to me.

The fact is that if all the currencies are moving up and down in value together as you suggest, thus causing the volatility in BitCoin, then commodities should move up and down in value relative to these currencies together. They may move in different proportions, but they should move generally in the same direction at the same time. Furthermore, it seems odd that if it is the currencies that are so volatile and not BitCoin that prices in countries like the US are relatively stable compared to the price of BitCoin relative to strong currencies.

It seems strange to me that someone with a degree in mainstream economics would suggest otherwise, so you will forgive me if I doubt your credentials. If there is something I am truly not getting in your argument that links it to mainstream economic theory, please enlighten me.