Feeling adversarial today?

Chokepoint 2 will certainly make things difficult. A CBDC to boot, they'll make bitcoin difficult to get in and out of; you might have the economic value of $10 million, but you'll only be able to use it for small purchases, you can't buy a house or car with it.

If gold is then still a legal alternative, that would make bitcoins value proposition strained. If its all about protecting your wealth, they could make gold a better asset, and bitcoin would cede value.

From there the bitcoin mining industry collapses and the government buys the mining equipment and holds majority hashpower, they censor all blocks that they aren't mining. Even if everyone gets together and switches algorithms, the chip supply has been centralized by huge government deals already, they'll outhash anything we create.