My point was not that hoarding is a myth - my point was that "people will not spend bitcoin, because they will only hoard it" is a myth.
Have you actually talked to people who own bitcoin? They want places to spend it.
> Just take a look at the bitcoin transaction volume merchants are seeing beyond the first few days.
This doesn't really mean anything. First-day enthusiasim can't be held as representative of the greater trend. The greater trend being that more merchants are accepting bitcoin over time, and more bitcoin is being spent on real things.
> Last I checked number of transactions per day was decreasing.
Are you looking day to day trends? Because if you step back a little you'll see that transactions have done nothing but increase.
https://blockchain.info/charts/n-transactions
We see a decrease since December and otherwise flatlining. And this includes the trading volume that happens on the exchanges which has increased.
The myth here is that "people want to spend bitcoin." Just take a look at the bitcoin transaction volume merchants are seeing beyond the first few days.