i think you have it backwards. first of all traders love volatility. second no one can control speculators or the markets so no sense knocking them. third if speculators are successful at driving the price of Bitcoin higher, this encourages merchants to jump in with innovative businesses related to Bitcoin. we saw this excitement in the Spring. so i don't begrudge speculators at all. this is how markets work.
Ooops - my first use of 'traders' I meant merchants. I used merchants afterwards because I realised using traders would be confusing but forgot to change it there.
I agree though, 'day traders' love volatility.
I also agree that no one can (or ought to) control speculators.
I disagree that speculators driving up the price of Bitcoin will encourage merchants to use it. I would agree if I thought merchants felt the price would be stable or only go up but we all know this isn't true.
I don't begrudge speculators at all either but I do understand that speculation is going to slow down Bitcoin adoption for traditional merchant transactions and if adoption for the sale of services/goods is the primary basis for the value of Bitcoin, I can understand from that, that Bitcoin will never have value (or so limited that it'll be irrelevant).