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I can envision gov subsidising miners for lost profits tbh.
They get the money to subsidize through increasing taxes/cutting other spending - which is hard to justify to the population. Even harder than Ukraine war spending for example.
Watch his talks, he lays out everything very clearly: https://youtu.be/5cmPGBl88ig
But that is really a good argument for a nation with democratic system.
I can foresee a few countries nationalise the mining once they understand the importance of bitcoin and mining their own block.
Nations are in competition with each other. The sets of transactions they want to censor do not overlap.
IMF would help coordinate such a censorship
IMF is an American-empire institution that makes dollar loans, if the dollar is breaking down to the extent that the US gov is subsidizing miners - the IMF would have already become irrelevant. Even today no one gives a shit about the IMF.
Nation states can cooperate against a common enemy. Whether it's IMF, NATO or BRICS coordinating it.
They don't have a common enemy - their enemies are each other.
NATO: censor these Russian and Iranian transactions! BRICS: mines transactions.
You are missing his point regarding 51% attack.
Non-censoring miners become more profitable than censoring miners because they are taking high fee paying transactions that censoring miners wont mine for political reasons. As non-censoring miners become more profitable, they are able to acquire more hash rate to get back over 50% of the network.