Bitcoin, however, is not gold, in the sense that it's very easy to convert to and from fiat currencies. The problem with bitcoin is in the risk of having it. You don't know what the price of bitcoin will be tomorrow, whether it's going to be 2x its price today or 0. And until you do you'll want to store some of your money in bitcoin, while still keeping most of it in fiat currency, since you don't want to lose everything in one day because you were storing it in bitcoins, but you also don't want to be the loser that didn't invest into bitcoin early and become rich with little effort. In other words if one wishes to solve the hoarding problem of bitcoin, one needs to up the chances of bitcoin becoming mainstream. Built-in deflation has nothing to do with hoarding.