finite currencies will always have a hoarding phenomena
Pretty much all types of currencies have that phenomena
You have overseen one type of currency which is infinite and that is time!
... I'm just trying to point out that there are two types of hoarding: "
hoarding by money users" and "hoarding by central banks" (the issuers of that money). The former serves as a confirmation that a store of value function is present and working well within a currency, the latter destroys all three functions of money...
I am not in favour of central bank policies nor support any form of centralised monetary issuer as the beneficiaries are the elite few. Just to be clear that as a miner like anyone else who is a bitcoin user:
1) I am one of many btc miners - no centralization here, its distributed, hence everyone gets an equal share of the pie!
2) Every person has the right to earn the bitcoins that are rightfully theirs just as they have spent their own time and money on equipment.
3) Every person have the right to either SPEND or SAVE their bitcoins and see fit how to recoup losses on equipment purchased.
Now, you seem to be in favor of the latter... What gives?
Where have I said that I am in favour of centralised banking?