i dont know what, if anything, could be done to reign in the volatility of bitcoin by formally tying it up *somehow*.
however, i think crypto will just continue creeping towards stability by insinuating itself into the mix.
right now speculators far exceed those who own bitcoin for its actual utility. but as more and more people are enticed to procure 'what the heck' amounts, and that disproportion begins to shift, this will have a dampening effect. once enough of it is tied up as average joe's savings or 'in play' for the exchange of everyday goods and services, would-be peaks and troughs will just be absorbed by the masses rather than causing uncontrolled feedback loops. you wouldnt sell off all of your aussie dollars if its value was in sharp decline. fiat currency or not, your immediate reason to trust that it will stabilise is the shared dependence on it doing so with millions of other average AUD owners equally hostile to paying for their morning coffee in USD.