About a year ago I purchased a small number of Bitcoins, which, in theory I could sell for several times what I paid for them, but I don't want to because there value (relative to other currencies anyway) might go up. At least that's what my flawed monkey brain tells me.
The question is this, if everybody is thinking like me, won't that mean the value will keep going up as more and more people hoard bitcoin?
Won't this mean Bitcoin is more like gold ( a store of value ) than a genuine currency ?
This is probably truer in the short run. In the end, there are things you can do with Bitcoin that will almost guarantee it will be spent. Instant transfer of value is too valuable not to be used.