Here's my stance on Hoarding...

For bitcoin to have any value, you have to be able to spend them. If everyone is hoarding, no one is earning coins through the sale of goods and services. If merchants aren't making enough to justify using bitcoins then why would other merchants get on board? And with less merchants means less ways of spending your coins.. You don't make stupid business decisions on purpose normally so if people know there's no point, then they wont bother. If they don't bother then bitcoin goes nowhere, existing merchants will eventually get out since they're just wasting their time and bitcoin wont go anywhere.

People hoard because they want to make money. To make money, the value has to go up. If there's no reason to buy them then they wont be sold and the price wont go up.

Bitcoins can't keep on raising in value simply because everyone wants to make a quick buck... Not quite sure how anyone could get the idea that it'll just keep on going up just because "we want it to"?