Re: What if someone bought up all the existing bitcoins?

He wouldn't need to buy all of them. If his purchasing streak pushes prices up so high, or so fast, that nobody will sell them or use them, then for all practical purposes, bitcoin is dead. A currency with no current is not.

On the contrary, as the price of bitcoins goes up people will be more inclined to use them. People will offer steep discounts on the items they sell to get the bitcoin in the hope those bitcoins will go up in value even more.

Right. The stores confirm this. Bitcoin highes are rush hours on bitmit and others.

Do you remember the source of this?

I guess https://www.bitcoinstore.com/ mentioned this here on the forum and bitmit confirmed it but basically that's quite logical from my own experience. If only I head the money to buy this, this and that if exchange rate rises, I will spend some coins. In my case it would be about a major investment and not about buying small stuff I don't actually need. I don't see anything bad about a deflationary money stopping people from buying stuff they don't need. Would save the world a whole bunch of problems. Actually I dream of effects like planned obsolescence being an actual argument when buying stuff, as with fiat money, anything but spending it is just stupid no matter if the jeans fall apart before washing them for the first time or if they hold for a lifetime but with honest money people will start to think about buying stuff that doesn't loose its value.