If they tried buying all the BTC and scrapping it, miners would just keep mining and create some more, only with a ton less supply and a fan-fucking-tastic pricetag. All it'd do is make everybody and their stepsister's great aunt mine as fast as possible. Not to mention making all the early adopters really rich. Also, there'd likely be people who wouldn't sell, or people who forgot, and coins that just got thrown away that nobody will ever know who owns.
All this talk of moving to an altcoin is weird and random. There is a reason why Bitcoin is produced over time and its not just to reward miners. Its because it makes logical sense for a number of reasons, this being one of them.
If you want to take down BTC, you're going to have to try and 51% it. Otherwise, its infallible.
All this talk of moving to an altcoin is weird and random. There is a reason why Bitcoin is produced over time and its not just to reward miners. Its because it makes logical sense for a number of reasons, this being one of them.
If you want to take down BTC, you're going to have to try and 51% it. Otherwise, its infallible.
Should be easy for them to 51%, first they need to shut down those ASIC producing company and confiscate all their machines. Then use their machines to produce lots of ASIC and bam!!!
