Do I have to remind you guys that keeping coins and not spending them means you're killing it as a currency?
Yes, that is true in Paul Krugman's socialist keynesian wet dream.
In the real world we call it "using buzzwords (like 'hoarders') to demonize responsible saving."
Nobody ever has any legit data to back up their assumption that there is this huge number of people who hoard BTCs and never spend them. Although if you look at tx volume, you'd easily see that the ratio of spent coins to hoarded coins is
much higher than with the USD OR precious metals, which is a good thing, so what the heck are we still complaining about? The second we say "Oh, but I do spend my coins" the 'anti-hoarder' crowd backs off - "Oh, well that's ok, you're a spender, you're benefiting the currency."
So what is the magical ratio of spend to saved coins you must reach before being considered a hoarder, and how can we empirically justify this ratio?
No one has ever answered me this question, and I ask it every single time someone demonizes saving by implying that it "kills bitcoin."People hoarded gold and silver and they were used as currencies for millenia. Thousands of years. Go read Fekete's papers on monetary theory you will shit your pants when you read what he has to say about the role of hoarding
It reminds me of the people who say "bitcoin is riding on silk road" (newest reincarnation: lucas.sev.) No matter how many times you roll your eyes they keep coming back and repeating the same old shtick, as if repeating it a hundred times will make it true.