Actually its neither. The volatility is mostly ignorance. Fiat moves but has been around for much longer than bitcoin. You've said it many times. Bitcoin is for the brave. I would say those that do the work to understand it look at the fiat exchange volatility as a feature not a bug. We that understand bitcoin know we are stacking sats at a discount today.

The problem with this is that we are a severe minority and regardless of the stupidity of our fellow humans and the ignorance of the masses each economic actor plays a role in the market exchange rates of everything. This includes bitcoin.

1 btc = 1btc. One year of my life is one year. Scarcity is only one side. We each value everything including our very lives subjectively. Bitcoin has no objective value other than 1 btc = 1btc. Subjectively bitcoin is valued very low in purchasing power today. It should be much higher in my view and I'm sure you agree. As more people understand bitcoin they will want to obtain it. As they do the exchange of bitcoin for other goods will drastically change.

What @siggy47 is discussing here is an actual problem and recognizing doesn't have anything to do with the dollar going up or down. Its the market that hasn't learned what bitcoin is and how valuable it is... yet. They will. In the mean time this is an interesting idea. I doubt there is a large enough market for it work today.