All these arguments apply equally to gold. Also, gold was becoming a money slower because millions of market participants were not one click away from each other to figure out why is this new metal is any good and whether they should make a bet that it will become more and more useful as money.
When someone "cashes out" into USD he doesn't really want to cash out in a lot of USD as it's a poor store of value by design. It's controlled, monitored, expensive and leaks like crazy. You can cash out into Maserati, but it's also not a good store of value. Therefore we see that more and more investors remaining with BTC are making a huge bet - a bet on universally accepted money. People who want to cash out quickly do so already without bringing price much down.
> When someone "cashes out" into USD he doesn't really want to cash out in a lot of USD as it's a poor store of value by design.
No, he really does want to cash out in a lot of USD, because its a very good medium of exchange, by design. They then proceed to use the USD to buy things that either provide immediate utility or provide a good store of value, but that's after "cashing out", which is an act designed to secure something useful in general exchange ("cash").
The truth about USD vs Bitcoin is that Bitcoins you can own and USD you cannot. http://blog.oleganza.com/post/67362431718/you-can-own-bitcoi...
When someone "cashes out" into USD he doesn't really want to cash out in a lot of USD as it's a poor store of value by design. It's controlled, monitored, expensive and leaks like crazy. You can cash out into Maserati, but it's also not a good store of value. Therefore we see that more and more investors remaining with BTC are making a huge bet - a bet on universally accepted money. People who want to cash out quickly do so already without bringing price much down.