Okay, let's talk. Bitcoin's gone all stars and stripes, huh? Seventy-five percent of mining in the US? That's a massive shift. China's loss is our gain, apparently. But before we start chanting "USA! USA!" let's pump the brake and ask ourselves a serious question: Does this shift actually mean more freedom for crypto, or are we just trading one set of potential problems for another?

Centralization Dressed as Patriotism?

Look, I get it. There’s also a patriotic appeal to bringing Bitcoin “home.” It feels safer, somehow. We’re all accustomed to associating American-made with the highest standards of quality, with the highest standards of reliability. Bitcoin's core promise is decentralization. It was designed to be physically independent from the control of any one national government or corporate actor. So, is this “Made in America” label really just code for “growing increasingly centralized?”

The Cambridge report tells us we're dominant. Sentora’s numbers indicate miners aren’t selling as much BTC. Are they complicity hodling more because they see the writing on the wall in a world dominated by US interests? Or are they really just having a hard time with those high electricity prices (averaging $45/MWh, yikes!) and thus not profitable enough to sell?

This isn't about hating on the US. It's about recognizing that power tends to concentrate, and concentrated power, whether it's in Beijing or Washington D.C., can be used to stifle innovation and control access. So ask yourself, who stands to gain the most from this transition? Is it Joe crypto investor, or is it the massive mining mega-corporations opening up operations in Texas?

Regulation: Friend or Foe of Freedom?

Here's where it gets interesting. Additionally, the unprecedented rush of mining activity onto US soil should not be dismissed. With this rapid growth comes a pressing need for clear and consistent regulations. Now I know that some of you are wincing at that idea. “Regulation” can be a dirty word—the death knell for the Wild West spirit of crypto.

Think about it this way: responsible regulation could actually expand crypto's reach. Now, picture a crypto framework that eliminates user exposure to scams and fraud, ensures clear tax treatment, and gives all businesses the same rules to compete fairly. Wouldn’t that go a long way toward making more people feel comfortable getting in? Wouldn't that attract more institutional investment?

Over the past couple years, we have witnessed firsthand the carnage inflicted by unregulated crypto exchanges and ICO pump-and-dump schemes. With the right rules in place, and consistently enforced, the sharing economy could increase trust and lead to innovative, sustainable growth. The trick is striking that balance – regulation that protects without choking. It’s a difficult balancing act, but one we must undertake with earnest resolve.

Here's an unexpected connection: think about the music industry. For nearly two decades, the recording industry opposed any and all moves towards digital music, terrified of piracy and decreased profits. In time, it smartened up, welcomed streaming with open arms, and discovered new avenues of cashing in on music in the digital world. Crypto needs to learn from that lesson. Fighting regulation outright is a losing battle. The better decision is to influence it, to make sure it works for the benefit of the community as a whole.

Progressive Patriotism: Crypto for All, Not Just Some

Alright, so let’s assume we figure out the regulation part and get that in place. What other things might a “Made in America” Bitcoin era bring about for the cause of crypto freedom? Here's where I get a little idealistic.

Picture the US emerging as the global center for crypto innovation instead of just crypto mining. Consider the opportunity for building a more equitable and diverse crypto ecosystem. And we would have more hackathons, more educational programs, more opportunities for people from every background to engage and participate.

This requires conscious effort. It entails making conscious attempts to break down the “bro culture” that often permeates the crypto environment. It involves building pipelines for women, people of color, and other marginalized communities to engage and take charge. That starts with distributing the benefits of crypto far and wide. We want benefits to accrue to all of us, not just a few lucky private equity investors.

It’s about us recognizing the US’s dominance in Bitcoin mining and using that to create a more equitable and accessible crypto ecosystem. It’s about demonstrating to the world that ‘Made in America’ can be ‘Made for All.

The price of BTC is fluctuating. Perhaps it’s closer to $10,900 now, perhaps it’s more or less when you’re reading this. That’s not how we should be measuring the real value of Bitcoin. It should be measured by its ability to empower people, to build a more democratic and fairer financial system. Whether this new “Made in America” era fuels or foils that promise is the choice of us all. We need to continue to be hyper-aware and continue to call for smart and responsible regulation. Join us in advocating for a crypto future that is free—for everyone!

Let's not let this opportunity slip through our fingers.