Ok this in interesting set of ideas but i think i have some crtiques that maybe you can counter that will change my mind. ive tried to give them in the same order as your post:

1. im not very farmiliar with the Pay As You Go policy, but it sounds like since it was already broken before, the likelihood of it being enforced seems low. thats like trying to go back to a gold standard once we are already off it. we tried it, it failed already kind of thing

2. im no bitcoin miner, but from my understanding, these miners need to be very flexible in their employment because they are always searching for the cheapest energy. ive heard mining company ceos talk about how they stay profitable and its not always about having large mining centers, but instead a ton of small to medium size ones going to the cheap energy. the government is so bloated, slow, and designed for "rent seekers", that they just couldnt keep up with the cutthroat and ever evolving bitcoin mining industry. i understand the nodes and there ability to reach consensus is what keeps the network decentralized and secure, but centralized mining pools arent great for the networks security aswell. I think i would rather the US government holding more coins than control a lot of the hash power if I had to choose

3. i think when this endgame is understood, the whole dollar system will just evaporate entirely. im talking hyperinflation to dead like a 1930s Germany dead. Nobody is going to want to be holding the US dollar bag when its obvious what we are trying to do.

love the ideas though and i hope this can drive more discussion and ideas