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December 30, 2016, 02:11:30 PM |
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Using fiat to buy bitcoin to destroy bitcoin don't make sense to me. They might buy btc, let it increase in price and then sell off, that wouldn't really change the price much. If they simply lock away the bitcoin they bought or "destroy" it, then the price of the remaining bitcoin in circulation would just increase.
It would be far more efficient to just pass a law restricting or banning the use of bitcoin. Again this would just be within one country. It would take a lot of effort to ban it globally. And it's not like a ban would stop the more tech-savvy bitcoin users.
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