Hey! I appreciate your very detailed post, Love it and I voted you 100%, Which is TWO WHOLE CENTS from me. Woot. I knew this topic would be a little spicy, it's been nice to get some well meaning criticism.
Any case, having taken the points well, I do have some comments:
You are right, while PoW works in such a way to require attackers to have ridiculous resources to attack, I also see it as a weakness. There HAS to be a more efficient means of doing the same thing. As a personal opinion, I think that a properly implemented DAG could be a great answer to these problems. PoS has been huge, but of course it has some problems of its own as you stated.
Your response to my analogy is well received and now that I see it your way, I would agree. Having said that, I think that if I had a choice between amending a previous "constitution" and starting over with a better foundation, I would be more inclined to the latter. You said it yourself; with increasing layers and complexity, maintaining an application becomes like untangling Christmas lights. But, I feel like this opinion personally stems from my interest in DIY and such. I wanna make something from scratch!
Thanks again for taking the time to comment!
RE: Bitcoin Maximalists are Short Sighted. Here's Why I Think That.