Some people believe that hoarding hurts the Bitcoin economy.

But are they really right?

As long as corresponding goods vendors and services will be here to stay and reinforce people's faith in Bitcoin, hoarded bitcoins simply do not take part in daily business and do not hurt anyone.

Quite the contrary, they will decrease the supply of bitcoins in active circulation, thus increase the demand for bitcoins, and thus raise their over-all value, right?

Update: This question also comes with a premise or insight that Bitcoin "power users" have savings and spendings wallets or similar setups, and that those two forms of wallets will not tend to "compete" with each other so much. The bitcoins in the spendings wallets will rather compete with the fiat money that respective users will use to buy for goods and services. The bitcoins in the savings wallets will rather compete with more traditional forms of assets and investments.