imho the biggest flaw is the fact that satoshi (whoever it might be) could still possess private keys to the 1kk wallet. its a sort of a trojan horse so to speak. we might never find out, but once that wallet moves..
Everyone says that, but what is the wallet address or wallet addresses?
Nodes don't get rewards from Mining
They do get rewards. But the reward is zero. One should do more useful work for more reward.Bitcoin mining is not ASIC resistant
There is no such thing as asic-resistance.Lots of altcoins claim to be asic-resistant. I don't know if there is any fact to that (or only stating that the current asics won't be able to mine).
ASIC resistance depends purely on the algorithm in play and its design. You can't just make a blanket statement that there is no such thing as ASIC-resistance unless you know details of all algorithms past present and future.
For example, a "data hard" consensus algorithm, should there ever be such a thing, would be very ASIC resistant providing that the data set required changed for each consensus round. The bottleneck then becomes IO.
ASICs are good at number crunching, not number fetching
True.
However, I see "ASIC resistance" used more as a blanket term for the phrase "Is it more cost effective to mine my coin using general hardware as opposed to making an 'Application Specific Integrated Circuit', whatever that 'circuit' may be" and its variants. That is, a purely economic term. Of course, if you subscribe to the supposition that a "specific circuit" will always be better than a "general circuit" for the specific case it is designed for.