Frag,  as a small time miner I admit I am hoarding my coins.  I don't have many as I started very late and my equipment doesn't do the kind of mining compared to the larger miners out there.  I will agree with you that as the price keeps going up no one in their right mind is going to sell any.  It all depends on the person though.  I recently spent 2.5 btc to purchase some goods.  That was before the price had skyrocketed to 800+ in which I missed out in a large gain.  Still I don't feel bad that I spent it as I have some more available.  As long as the mining continues and the value of btc goes up, I'm satisfied.