Quote from: bitarrow on April 07, 2013, 10:32:18 PM

Quote from: Crazy on April 07, 2013, 10:25:50 PM

This is so funny and sad at the same time. In recent months BTC has seemingly lost its true utility -- a currency -- and has become a speculative asset that provides no utility because if you use it, you'll potentially be leaving money on the table. Amazing Shocked

Everyone start paying with Paypal and Dwolla again Cheesy

we need more bitcoin merchants though. in time, there will be less hoarding or a combination of both.
I hoard for the time being because I see no real way to spend them. But I do believe that in the future I will, so when that day comes that I want a new vehicle, I can walk into the dealership and make my BTC transfer and be done. Until then, i buy and hold

I hoard because I see no useful (for me) way of spending the bitcoins. But if people are hoarding then I as a business owner don't see much utility in supporting bitcoins as people are reluctant to part with them. Chicken and egg.

Right now we have a problem. Bitcoin's price is rising so fast, so high that you would be silly to spend any of them on goods and services. Yes, downright stupid. $15 in January, $60 in March, $160 in April. At this pace we're looking at well over a thousand dollars before the end of 2013. Parting with any bitcoins now is leaving a huge wad of money at the table and literally walking away.

One can look at the trade volume on MtGox as evidence that people are spending, but it must also be considered that people are rather speculating and trading. One side wants to get out before a probable bubble pops, the other side wants to buy as many as possible and dump before the bubble pops.