I don’t know if I agree with this. I think the biggest destabilizing factor is that I can’t use it to buy a bigmac and large coke.
If I can’t ever actually use it to buy things then it’s not worth anything. My concern using it to buy things would be that I can’t take my bitcoin and buy a car. I can take my bitcoin, send it to an exchange, hope the exchange doesn’t lose it cough Mt. Gox/BTCe cough, exchange it for USD, transfer it to my bank account and then and only then can I maybe use it.
Being able to directly buy things with your money stabilizes things as it gives you a sub conscious idea of how much things are worth. I know a bigmac is like $5-6. I know a 7/11 Pizza is $5. These things are known and expected. If I had to wonder how much those things were going to be worth each time I entered the store I wouldn’t use it, which is what is happening.