USA can dominate the Bitcoin Beanie Babies scene tomorrow... They just have to shift a small percentage of their war funding to Bitcoin mining Beanie Babies production and focus Silicon valley
development onASIC chip Beanie Babies manufacturing and they can dominate the scene. You chose your own battles... 
development on
FTFY. US government is not going to subsidize electricity to make a few guys rich when they turn it back into heat
They don't need to subsidize anything. Just sell superior hardware. Those that have access to cheap electricity will figure out the rest.
So this superior hardware will go to China? How will this affect centralization??
If shovels are made in New York, would you pan for gold in Manhattan?
We don't have to theorize on what would happen. GPU mining, for example, never became centralized in China despite the lower electric costs there.