My current understanding of Ada is that, like Ether, its primary function is not intended to be a currency or a store of value, but as a resource to run dApps for the Cardano application platform. In that way, it is a commodity, like oil. It is also being used a store of value, but this is secondary.
Imagine if people started hoarding oil to be used as a store of value, and the price of oil skyrocketed. How would this impact your ability to drive your car? How would it impact the price of milk (from rising transportation costs)?
In the same way, I’m wondering, will an inflated Ada price due to hoarding and speculation impact the efficient functioning of dApps on the Cardano platform? Why or why not?
Most likely I am just not understanding something basic about how this works, so please enlighten me!