It's low today was 3.75 ... and while it was crashing we printed an additional 7200 coins
let me know when you guys believe it's becoming mindless.
I do not want the price to drop. But it will. The network is just too big right now. It is not hugely oversized but in my estimation it is 2x too big but that is just my crazy guess. When the network gets down to 5TH and the price gets down to 2, it will be more 'right sized' as a currency with less dollars going out the door to electricity. The network can stay stable at that price for a long time as more people adopt coin. Then it will slowly grow again.
Hopefully the price will grow in a more steady even pace, that is related more to the use of bitcoin then the speculation on its future.
There is nothing wrong with the rules as they stand. Things just got (very) ahead of themselves. This is the market correcting itself.
If the right size is smaller then so be it, but I'm always rooting for higher. I can make way more awesome stuff at 100 per than 5 per. And that's a completely healthy situation.
Bitcoin is mindless.