1. Buying up all mining would only take a fraction of the US military budget.
2. Nations often nationalize energy production like oil & gas which were previously privately owned. Low cost option.
3. Slowly boil the frogs. Slowly introduce OFAC compliance (stepping back and forward initially). Get people used to the idea. Gradually excercise more and more influence over "private" miners.
4. Coordination-problem: say governments take control over majority hash power. Which one of the 100 forks with new hashing algo wins? If the control comes gradually, different people will have different tolerances and move to other forks at different times, leading to more bifurcation.
5. Still a great clip.

Why is he so based 😭

Greece faced a sovereign debt crisis in the aftermath of the financial crisis of 2007–2008. Widely known in the country as The Crisis, it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a small-scale humanitarian crisis. In all, the Greek economy suffered the longest recession of any advanced mixed economy to date. As a result, the Greek political system has been upended, social exclusion increased, and hundreds of thousands of well-educated Greeks have left the country.

The European debt crisis, often also referred to as the eurozone crisis or the European sovereign debt crisis, was a multi-year debt crisis that took place in the European Union (EU) from 2009 until the mid to late 2010s. Several eurozone member states (Greece, Portugal, Ireland, Spain, and Cyprus) were unable to repay or refinance their government debt or to bail out over-indebted banks under their national supervision without the assistance of third parties like other eurozone countries, the European Central Bank (ECB), or the International Monetary Fund (IMF).