But it's decentralized. They can't control it. They would have to control majority of the miners, which is possible, but then bitcoiners would have to turn to the black market. They'd pay higher fees to incentivize "illegal" mining. Eventually those transactions will get mined. The process will affect the price temporarily but their attempts would eventually fail. They can try to come for the hodlers but then many would just leave the US. Mining would also leave the US. All these things would be better for Bitcoin in the long term anyway. A lot of countries are sick of America and its bullshit reserve currency policies. So they’d welcome refugee bitcoin miners like the US did with the Chinese miners.