If miners can be encouraged to run SHA256 for something more profitable than Bitcoin then bitcoin will die quickly, it's a winner takes all game.
I dunno, ohhh.. lets say a government backed and regulated coin.
Nation-state governments and their rigged, ponzi-scheme currencies are going to magically regain legitimacy, eh?
Do you actually
believe this shit, or are you just trolling? Nation-states and their clownish currencies are done, son.
Welcome to the information age,
truth flourishes here.
I must with due respect disagree, money is ultimately trust, if a powerful country adopts a cryptocurrency it will easily rival bitcoin. Government exists because there is a need for it, it brings law and order, stability and a sense of certainty. A lot of bitcoin investors/users are using it not for ideological reason they are in it for the innovation or for profit.