Quote from: mistress_magpie on December 13, 2013, 03:06:38 PM

Sadly, most of the popular awareness about Bitcoin is about its recent skyrocketing value and its volatility. This makes people hoard their Bitcoin, or day-trade it like a penny stock, and slows its adoption as a means of exchange. The point of Bitcoin is not to hoard it and get a bunch of dollars or pounds out - instead, its important to buy goods and services with it, and encourage others to do so. The real power of Bitcoin will be when it is accepted for everything from milk to babysitting to life insurance, and is no longer associated with the underbelly of the economy.

Good article, but I disagree about the point of it is not to hoard it. Yes, for the currency to work we need people to be buying things with it, but I can still sell and trade it for items and keep hold of my coins. With any currency people are allowed to save for the future; it doesn't have to be spent straight away. If you truly believe in Bitcoin, then when and if the currency gains mainstream acceptance the value of the coin will surely be worth more than it is today. Therefore, I'm taking the risk and holding onto my coins until I can get more 'bang for my BTCuck', then I'll glady spend. The price needs to steady though before I start splashing it around. I don't really fancy paying £5 worth in Bitcoin for a Pizza then X amount of time later having ended up paying £100 for it, but that's just me.