This is my base case. They might not overtly steal all of coinbase's corn. They may nationalize the company instead. They could also just turn the CIA on Armstrong and control him through blackmail. Many roads lead to the same destination. The longer the government delays backing the dollar with bitcoin, the more likely this outcome.

In any case, once the incentives and game theory are apparent to all in the government apparatus we will get to watch the suits turn over all their corn in exchange for gov't promises. If that's not enough, they will come for the civilian corn next. Take care that your cold storage measures are secure against the government in all it's might.

Geographically distributed multi-jurisdiction multisig self custody is the way.