Pointing out the limits of the currently implemented mechanism (in Bitcoin) does not equate to Bitcoin being inferior to the trust system of conventional currencies.
> currencies are subject to extreme pressures from economic actors (governments, banks, societies, businesses, ..). Therefore claiming that banks can simply be "trusted" to withstand these pressures (by strictly enacting some agreed upon policy) is a bit like closing your eyes on the real world situation of currencies.
I was merely pointing out that your statement about currencies also applies to (at least some) cryptocurrencies. Large mining groups refraining from securing 51%, or colluding with each other to similar effect, is the only thing stopping them from having the power to maliciously inject fraudulent blocks.
So yeah, BTC's proof of work scheme seems to have some conceptual flaws. I'm aware of innovation in the space, but none have caught on the way BTC or Monero have.
