This 'benevolent stabilizer' crap is very annoying.
Annoying indeed. Whoever they are, they just spent nearly $100k in the last 30 minutes stabilizing the price.
I honestly cannot see how a speculator could benefit from having the price stabilized.
Yes, stable prices are good for bitcoin evangelization.
Yes, stable prices are good for bitcoin merchants.
But no, stable prices are not good for speculators.
What's good for evangelicals and merchants is good for speculators who are long.
Perpetually increasing prices is actually bad for evangelicals, because it'll cause a repeat of the summer bubble. Bitcoin becomes harder to accept when it undergoes such unhealthy bubbles periodically.
Perpetually decreasing prices is annoying for merchants.
Perpetually increasing prices is annoying for customers, which results in lower sales, which in turn causes headaches for the merchants.
Which is why I said stable prices are good for merchants.
