All of this speculation and hoarding is making Bitcoin too unstable for merchants. Wasn't the point of Bitcoin to create an alternative currency meant for commerce? But with its current volatility, I personally would not accept Bitcoin in my trade of business.
The irony of Bitcoin is that most people are hoarding it so that they might trade it back for fiat currency in the future... That is what really saddens me.
Be sad all you want. Your Keynesian philosophy and desire for magic unicorn money that never experiences price swings isn't going to stop the progression of crypto-currencies.