The reason (in my view) is, that nobody, but speculators and certain breed of VCs care about it. As with any bubble, without a steady inflow of fools, you can't keep it stable. It just fell into the wrong hands and went totally against its original promises.
> that nobody, but speculators and certain breed of VCs
And people using it for illicit or otherwise unique sorts of transactions. They might not be treating it as an investment-vehicle, but big swings will still affect their operations.
Yes, true... until they get caught. :) And how can this thing be used for anything else when its price jumps up and down 10-15%?!
Try reading about it for an hour and make one transaction with it, then come back and say the same thing.
Maybe you should first pull your nickname out of your behinds before making the typical Bitcoin fanatic statement: "you don't get it", "read the whitepaper", "do this", "do that". You forget this is not /r/Bitcoin or a public forum - this is a hangout for people who used Bitcoin years before you've heard the name. Anyway, because your thinking capacity is so limited, you shoot yourself in the foot spreading the concept "Bitcoin is so hard to grasp that nobody seems to be getting it".
It sounds like you care a lot about Bitcoin. Are you a speculator or a VC?