Not at all. It naturally stabilises the closer it gets to its ultimate market cap. The more it stabilises the more it will be used as a medium of exchange.
There is no evidence for this. When gold and gold-backed currency were used for trade, it fluctuated in value wildly and there were several depressions each decade. After centrally-issued fiat currency was introduced, it had a much more stable value, since it could be issued counter-cyclically.
How are you measuring the value of gold? How are you sure it's not the value of the quote asset that fluctuating wildly. If everything was priced in gold do you really think that the prices of everything would fluctuate wildly? For what reason? The only reason for any sudden changes in value of gold are due to demand, which is caused as people move their wealth out of fiat currencies which are collapsing in value.
immibis|2 months ago
npoc|2 months ago