So it appears that the impression is that hoarders are hurting Bitcoin because we are not using it as its intended purpose, as a currency.
Which is only a problem when instead of hoarding these speculators turn into dumpers. If the coins were mostly used in commerce for purchases, then there would be less volatility based on whatever the response is to the next news article on Bitcoin. But when the (temporary) price top is reached and the exchange rate direction turns south -- those hoarders all stop hoarding and race to the exits. Some will have made it out with plenty of gains, others roughly break-even, and the last ones who bought will see losses, sometimes heavy.
Now if the merchant can set prices in dollars and uses a payment processor who converts all bitcoin revenues to dollars at the spot rate at the time of sale (less the conversion fee), then the merchant can be pretty much agnostic about the exchange rate (though 10% swings in a day mean delays simply in waiting the hour for payment to confirm before the coins can be sold is something that will eat into profits)
But if the exchange rate is dropping and the hoarders start dumping, they will also be using their coins making spend purchases.
So bitcoin wins either way thanks to hoarding. When the exchange rate is on the way up hoarding causes the exchange rate to rise which attracts others to buy bitcoins causing them to become familiar with buying bitcoins and using them in transactions. When the exchange rate is headed down bitcoins get spent with merchants causing it to gain traction as a payment method.