[adrianwaj]

A bitcoin2 should be a swap currency. 21 million coins pre-issued, and sold for 1 btc each. Like when a fiat note is upgraded, the old note is eventually taken out of circulation and destroyed. But how do you trust the issuer of bitcoin2 to destroy the bitcoins they receive, and that they won't issue more bitcoin2s for themselves later secretly?

(or they can just lock the bitcoins they receive for guaranteed swap-back at any point later - the bitcoin2 issuer is a bitcoin bank too: how do you trust they can effectively lock them up with the possibility of return later?)