Huh? You make it sound so easy. I suppose that just because The USA got the most medals in the last Olympics that we should just stop having them. Oh, and because the USA has enough nuclear bombs to blow up the world, everyone else should stop building nuclear weapons. Are you afraid of a little competition?
No, but thanks for throwing in a nice strawman.
I'm suggesting something along the lines of what people like Dan Kaminsky have suggested: that it would be possible to have proof-of-work that cannot be massively accelerated with GPUs or ASICs...but that has high memory and serialization dependencies or other resource requirements, too.
http://www.slideshare.net/dakami/bitcoin-8776098