https://ift.tt/3FeKwjc if…(not a FUD post but curious to understand)

Hi – This has been going on in my mind for sometime now. I went through this link (https://ift.tt/35V0YXb) and don’t find this point addressed there too. I am new in here and also lack full techinical understanding so forgive me for any mistakes in explanation but just take the gist of the idea. Also apologies if this was asked many times before.

Tldr/gist: What if US (or any country) comes with a bitcoin replica with exact same features of Bitcoin?

What if SEC Chairman invites for a press conference and says below:

Alright fellas, we give in. We now understand blockchain and crypto currencies are the future. Bitcoin has shown the world what it is capable of. It has shown how a blockchain innovation can be decentralised, secure and be a store of value for the entire humanity. We want to encourage and embrace the same but bitcoin already had its big run. As a state, we don’t want to get in late.

So here, we introduce “BitcoinUS”. It will exactly be like Bitcoin.

1. Same algorithm, same 21 million coins, same halving cycle of 4 years, same block rewards, same 100 million Satoshi sub units etc.

2. We already have set up some nodes to mine and we give you all the core for you to download and run your nodes. It can be done in any country and I urge all countries to join in.

3. BitcoinUS will be just like US dollar and will be a currency/valid tender in US as well as 65 other countries that uses USD today.

4. All countries can use this as reserve.

5. It will still be decentralised just like Bitcoin. It will be uncensorable, unconfiscatible and can be self custodied just like Bitcoin.

6. All major exchanges that supports Bitcoin will support BitcoinUS too.

So this new bitcoin replica comes with US support, comes as a valid tender in 65 countries, gets adopted by China, India and other big nations to build it’s reserve, millions of people who missed bitcoin jumps in to buy this early….

Why is this not a possibility? Where would it fail? Why would it not replace bitcoin eventually?

Edit: guys, am genuinely trying to ask a question and clarifying my position/understanding as reply comments. I don’t know if it deserves down votes. Please, am new in here and without enough comments karma, I am not even able to participate in cryptocurrency reddit page. 🙁 Please, don’t downvote unless I offend you personally in anyway. Please.

View Reddit by TheDumbInvesto – View Source