Topic: What happens if someone buys all existing bitcoins and destroys them? - page 3. (Read 2769 times)
February 14, 2013, 09:23:26 AM
The total value of all bitcoins currently is several hundred million USD. That is pocket change for some bank or government who would wish to destroy bitcoin. What would stop them, to open an exchange of bitcoins into USD, with twice the ratio as all other exchangers, and then never spend (or destroy) all acquired bitcoins, until there are none, or a really small amount left in circulation? I realize this would drive the price of the remaining bitcoins way up, but wouldn't it destroy the bitcoin system, if only say 0,1% of 21 million possible bitcoins actually existed (and that number would be constantly decreasing)?
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