So, I've been thinking about this a lot.  It seems like if bitcoins were a more widely utilized medium, the price would stabilize because people would be interested in exchanging from within the currency rather than just using it as a transactional medium.

Just as a thought... if the bitcoin community at large spent a great amount of time on PR and either started offering valuable services at a discounted rate if BTC is used or convinced businesses to offer certain services for BTC, you might see prices regulate and become more stable.

I honestly expect to see BTC price reflect a combination of mining cost and economy size.  IE, if the average person began to transact 1% of their total expenditures in BTC and BTC held a fixed value more widely (as opposed to currently being only as valuable as it's equivalent trade value in USD), you would see the trade value stabilize because price wouldn't strictly be the result of speculation.

Basically if their were a demand for the currency because it had implicit trade value, the value and liquidity would improve.

What this would take:

Many service providers to begin to offer services at a slight discount in BTC OR offer services or web products for a fixed BTC price regardless of trading value.

For so long as the currency serves little purpose besides speculative and transactional ease, it will lack the necessary market depth to regulate price.

Any thoughts? 

Is there a list anywhere of service providers that will trade in BTC?  Something we as a community can help to promote in order to increase the adoption of the currency?