Whilst I cannot debate the merits, I like the idea of a currency that helps reduce the amount of hoarding, since the whole point of currency is to be exchanged and keep an economy working.
Introductory economics usually frames the purpose of money as being threefold:
1. Medium of exchange; this is what you're referring to as "the whole point of currency". But don't forget about:
2. Unit of account; Something that allows you to compare "apples to oranges" so to speak, a common denominator.
3. Store of value; Some people choose to consume what's due to them up front, others choose to "hoard" for later (nothing wrong with that, IMO), most spread their consumption evenly over their life more or less. If we were all trading chicken eggs and babysitting hours amongst ourselves this would be a lot harder.
The world as a whole (except maybe like Japan) doesn't seem to have the problem of hoarding money. Low and negative interest rates have forced everyone to deploy capital and maintain comparatively little in risk free short-term sovereign notes.
It's apparent that maybe we should have hoarded a little bit, as individuals and institutions everywhere are reeling from the damage covid has wrought on the world economy.
