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It does not need to be a reserve currency. It does not need to be an official currency and most likely never wiil be. It can be an independant storage of wealth nobody can inflate or manipulate. No programmers can manufacture more currency or hack it as it is open source and distributed network controls it. Its not because it is encrypted and if break the code you can do anything. All goverment could do is to dedicate huge resourced to mine up as much of remaining currency as possible and attempt to manipulate supply and demand on exhanges. But it is incredibly much harder that to keep selling paper gold gold on comex. If half of bitcoin is already mined all the can sell is what they can very expensively mine themselves i.e. other half. This is too little to do much damage. It is not like futures created out of thin air or othet derivatived that bear no resemblance of real assets they are based on.
That is fine. It will just normalize the situation and they will have to start living within their means like everybody else. But it means usa role will be greatly diminished. Not to irrelevant statud but to one resembling reality. Once tgey have to start paying for their carriers, drones and subs instead of having the world to pay for it, see it shrink in size vastly to the level they can actually support. Look at USSR for a great example. Those who don't know history are destined to repeat it. USA has never been good with history imo.
I thought you may find this interesting (if you are not already aware or have seen this piece). It is a interesting read and also explains the evolution of the methods of mining. Looks like ASIC's is really the way to go but the cost/benefit (considering the current state of the market and a host of other variables as you well know) would of course need to be considered wisely.
