No it isn't. For instance, I can see carefully controlled debasing (e.g. inflation) as motivation to put money some use rather than sit on it, for instance.
> Bitcoin promotes hoarding no more than gold does. And speculation no more than FX or commodities trading does.
Maybe gold promotes hoarding too much, as well. When you get down to it, it's also questionable to tie your money supply to the availability of some arbitrarily-chosen commodity. Do you want deflation until someone discovers some big gold deposit, then things swing inflationary? Bitcoin seems even worse since it's designed to be deflationary, since people will irretrievably loose them and at some point no more will be made.
> This is a contradiction in terms...
No it isn't. For instance, I can see carefully controlled debasing (e.g. inflation) as motivation to put money some use rather than sit on it, for instance.
> Bitcoin promotes hoarding no more than gold does. And speculation no more than FX or commodities trading does.
Maybe gold promotes hoarding too much, as well. When you get down to it, it's also questionable to tie your money supply to the availability of some arbitrarily-chosen commodity. Do you want deflation until someone discovers some big gold deposit, then things swing inflationary? Bitcoin seems even worse since it's designed to be deflationary, since people will irretrievably loose them and at some point no more will be made.