Re: United we stand, divided we fall - the coming rise of cryptofiat
This can't be done with PoW. It can only be done with PoS. You can't force anyone to use a PoW because you don't control it. Your little tinpot dictatorship will be outgunned by your superior enemies that will overpower your miners and reverse their transactions. It would be a tactical error to use PoW in an oppressive regime. PoW is for the free man.
That's why my sources are using PoS for their premined 
There might be a misunderstanding of PoS if one considers it fiat.
I agree this is not Cryptoland definition of fiat (fiat = traditional money) but more a technical definition of fiat (fiat = mandatory currency - I will develop this more on the Monero Handbook I am writing). Plus "cryptofiat" conveys the right imagery. People seem to immediately understand what this is about.I agree. I always thought this will happen sooner or later.
It still needs more developement, of course.
But you need to take in mind, at that point with cryptofiat will be extremely easy to buy or sell bitcoin or any other crypto instantly. So bitcoin would probably benefit from it, being an alternative.
Joe Sixpack could choose between a governement-backed, arguably sure, very widely adopted "normal" money (dollar, euro...) and a tiny rebels-driven, scandal-ridden complicated-to-pronounce cryptocurrency. It is easy to see the outcome.It still needs more developement, of course.
But you need to take in mind, at that point with cryptofiat will be extremely easy to buy or sell bitcoin or any other crypto instantly. So bitcoin would probably benefit from it, being an alternative.
The tiny 1% of people choosing Bitcoin (or Monero
) will not matter at all in the grand scheme of things.