Krugman on BitCoin
He's just begging the question. That a fixed currency supply creates deflation is not a new insight. The idea that this  causes 'hoarding' is highly questionable. Prices in consumer electronics fall significantly every year. Does this cause people to hold onto their money instead of buying computers, tvs, and iphones? Of course not. Why would other types of goods be any different? People still need what they need and want what they want and are going to buy those things regardless of what relative prices will be in the future. The difference with a stable currency supply is savers and fixed income earners wouldn't have their purchasing power sucked away from them year after year--on the contrary, they'd become continually wealthier as the economy grows around them.