[disintermediate]

The price of Bitcoin won't stabilise. The best you could hope for would be a similar volatility to a commodity like gold or silver. So products and services will never be priced in Bitcoin while there is a better alternative like the dollar which is relatively stable.

A mistake 'economists' make with bitcoin is to draw macroecomic conclusions based on theories suited to single currency economies. Actually we need theories that allow for multiple currencies circulating that have different strengths to understand the effects.

Tl;dr Bitcoin won't change the way we price things, it just provides another option to transfer wealth.

[jpadkins]

Agreed, but isn't international trade economics the study of economics over multiple currencies?

[disintermediate]

What we're seeing there is competitive devaluations through printing and recently confiscations. Fixed supply commodities like gold fare well, but their existence doesn't drag the world into a deflationary spiral. Bitcoin's existence won't have macroeconomic implications either.