prediction:
US will be the last nation state to mine btc and they will attempt to catch up to the world by confiscation from their citizens and institutions
Discussion
They can find 12-24 words inside someone's head without a wrench attack.....
Tho...
In that environment kyc bitcoin will be dangerous
Afraid you are very right
You’ve been looking at the incentives.
Sean hasn’t, he’s ngmi 
yes russia is already mining (i'm guessing) as are many other nations or just holding reserves secretly in wealth funds like singapore -- unfortunately for the US they will be in denial for the longest period of time
european countries probabaly are secretly accumulating and when they announce it will only be at the time of EU dissolution
Almost certainly there is undisclosed state activity in Bitcoin. Russia I agree with you but I’m doubtful on European countries accumulating, their politics is more fragmented and ideological than a Russia or Singapore where they can do this stuff unilaterally and more secretly.
Interested in your take on Switzerland though:
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don't know about switzerland but i wouldn't be surprised.
I believe finland, georgia and bulgaria all hold bitcoin as a result of confiscation or sovereign fund etf holdings
Goldbugs also worry about nationalization of our mines
Perhaps you can hide your Bitcoin mines inside the metaverse
Not sure...
They'll put a positive spin on it by calling them "victory coins". Be a patriot and send in your victory coins.
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