alt Hacker News> and not a market for speculation.
That's the bit I don't know how to solve. I have a feeling it may not be solvable in principle, only mitigated if we could get trading on the thing turned into a crime. You'd still have black market trading, but hopefully much more limited in its impact on ordinary use.
Even modern currency isn't free of being a market for speculation.
It's not as extreme as cryptocurrency, but forex trading is a thing, and honestly the sways of USD to other currencies are meaninful enough to take into consideration when moving money internationally.