Gold is not going up. It's the dollar that's losing value.
If anything in the marketplace should be the yardstick of value, it is gold, not USD. So you should price USD in terms of gold and you will see a very different picture. Don't let the "upward run" of gold deceive you. Gold isn't changing, the dollars are.
I am so glad someone else is making this point (albeit months ago). Bitcoin detractors have a tendency to invoke the price instability argument, and of course until the price becomes more stable, that will continue to be a valid criticism. But when you look at it from a similarly obverse perspective to your argument regrding gold price non-volatility, you could equally argue that the price stability we have with fiat priced goods is a similar illusion, and that they too fluctuate wildly in value when you measure their price in a unit that maintains it's intrinsic value over time.
Bitcoins are arguably no more valuable now than they were when Satoshi made the genesis block. The difference now is that more people
believe in their value. Back then, Satoshi already knew how much they were really worth, and he was the only one who possibly could have. Because in the end, 1 BTC will always have a value of 1 BTC
Money is a strange class of value storage. Belief in it's value is far more important than any inherent qualities it posseses (witness the current situation for all the evidence you need of that)
