Comment Re:Whoops (Score 1) 600
Two things:
Firstly, if they try to do this, the price of bitcoins will rise wildly as they do so (they cant buy them all at once, and as more bitcoins are taken out of circulation, they will presumably become more valuable). This means that everyone who has bitcoins will make money - nothing lost as far as i can tell.
Secondly, what's to prevent a second issuing - say "Bitcoin 2.0" - from occuring, and the whole thing from starting over? The technology still works, and all that would need to happen would be an announcement on the bitcoin website. I'm pretty sure the government would be concerned about this if they are going to pump a whole load of cash into buying all of them.