Buying up all mining would only take a fraction of the US military budget.

Nations often nationalize energy production like oil & gas which were previously privately owned. Low cost option.

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.

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.

Still a great clip.