....
Agreed this is a problem when there is a huge double-digit percentage annual debasement due to PoW that is mostly ending up in professional miners hands. The professional miners locate their latest model ASICs next to hydropower plants have 1/4 the electricity costs (compared to residential) and 1/100th - 1/1000th (for a specially designed PoW hash function such as the one I will soon release, not SHA) the computational costs compared to general CPU at home, thus their cost of mining for example a Bitcoin is less than $50 each. They will always have an incentive to add more resources to capture a greater percentage of the mined coins.
But that isn't the only way to structure PoW mining.
There are two ways to deal with this problem:
1) Force every user to submit PoW with their transactions, i.e. no transaction gets on the block chain without PoW attached. Note getting this sort of design to be robust, requires an entirely different way of structuring a block chain. If the attached PoW is low enough difficulty, then it costs more to farm it out (network latency cost) than to mine it locally given it is an insignificant and unnoticeable cost.
2) Limit debasement to a small annual percentage.
In that case, the professional miner will not be able to mine a significant quantity of the coins, and they will not be selling a significant percentage of the market cap. Thus the downward pressure on the price that impacts Bitcoin will be abated....
Why not just use copyrighted cpu extensions that are illegal for manufacturers to produce without Intel and or AMd licensing?
China doesn't enforce our copyrights.
Governments don't enforce our property rights when it conflicts with their power.
If not for the fact that not all global jurisdictions will comply, I would presume that authorities could probably track down the centralized sources of PoW that a botnet could be retrieving the PoW from. The botnet itself can't be targeted with legal action.
Generally speaking I do not even consider any ideas that involve relying on legal structures to enforce, because I am strongly anarchist/Libertarian. But it is also true that until there is a NWO world government totalitarianism that has a monitoring 666 chip on every computer and human, then enforcing law is leaky.
We are trying to construct monetary freedom orthogonal to dependence on governments.
I don't consider a copyright to be property, rather I consider it to be theft from the future (degrees-of-freedom). Coasian barriers are stable until they burst.