The United States could take over Bitcoin
This is not our opinion. This is just some fiction and imaginative thinking and pondering what if. We don't think the US should take over Bitcoin and we don't think they will. But what if they did.......
Bitcoin is looking like it is here to stay. Instead of trying to regulate with weak laws. The United States should try to take it over and it wouldn't be that hard.
Step 1. The US government should start mining Bitcoin. The available computing power of the entire US government is unimaginable.
Step 2. The US should make owning Bitcoin illegal for US Citizens and offer to buy Bitcoin for $1000.00 each. This will immediately cause Bitcoin to tank possibly even below the $1000 mark and most US citizens will follow the law and sell their Bitcoin to the government. Why do I think so? Because it has happened before with gold.
There have been some stunning examples of “gold confiscation” in the past. Most memorably, this occurred in the US in 1933 during the great depression – albeit it’s more accurate to call it a nationalization than a confiscation, since citizens were compensated. The government of Franklin D Roosevelt seized all gold bullion and coins via Executive Order 6102, forcing citizens to sell at well below market rates. Immediately after the “confiscation”, the government set a new official rate for gold that was much higher as part of the Gold Reserve Act 1934.
It was illegal to own gold in the United States until the 1970s according to one source I read. If they can make you sell your gold they can make you sell your Bitcoin. Is there even a Bitcoin lobby to try and stop that type of action? Every other industry has a lobby. Bitcoin doesn't have a budget set aside for lobbying.
Step 3. Buy as much Bitcoin as the US can on the open market of what is left.
Step 4. Make it legal again and enjoy being able to control the asset by owning the most and mining the most. If the US wants it to go down, they can sell. If they want it to go up, they can buy.
The United States spends 500 billion a year on military to protect its citizens, allies, and corporations. That doesn't include the money we don't know about. Doesn't it make sense to spend some money to protect your currency. If Bitcoin is allowed to keep growing, the US dollar will continue to lose power and influence. It could get to the point where the US can't print money and have it retain value. If every time the US prints money Bitcoin was to go up in proportion, the US would lose so much power and influence.
This is the one time in world history where a country has an opportunity to control the world's money. If the US doesn't do it, Bitcoin will become so decentralized that it will never have an option again. If the US goverment doesn't do it, what if China does or what if Binance does it instead?
If the US wants to control the world (and it does) then it need to control Bitcoin and now is the time to do it. China realizes the threat of Bitcoin and is trying to delay it. Instead of delaying it, embrace it and control it. The US has no problem owning gold and oil reserves. Why does it not want to buy Bitcoin and control that too?
For the record, we don't think the US will actually buy Bitcoin and we are still holders and think it will go to the moon. Its just hard to come up with new article topics sometimes so I thought this would be an interesting topic to work through.