How will bitcoin ever be used when everybody is hoarding it, expecting the price to go up? (Reddit Bitcoin)
Right now, most bitcoins are not really in circulation because the people who own them are holding in wait for price movement. This is a feature of all deflationary assets. So how will any of these coins circulate? Who will buy things with their valuable bitcoin if they are expecting the price to go 10x every 4 years? Are we just looking at a 150 year speculation bubble?