A recap on some deeper reasoning behind the ideas of Decrits:
1) Decrits is intended to be a "trickle-in" type currency, where most new currency enters the economy in a random way. The randomness ensures that those with lots of decrits can't control new money, and they can't make credit/fractional reserve/debt money more appealing than "real" decrits. When demand for new currency arises, the people are intended to make it and distribute it, so there is little incentive whatsoever to accept a bank's credit.
2) An expanding economy is indicated by those willing to waste resources in creating new currency to facilitate trade. If decrits could be compared to a metal that does not have much utility other than in trade, then it would be a metal commonly distributed throughout the Earth that only requires you to invest tools and time.
3) Most of the time, enough of the currency will be in circulation so that it is not necessary to waste the effort and doing something
actually productive will be much more lucrative--like a job. But if money for basic human needs is hard to come by, people will waste effort in making currency. This is the threat that all people should be able to have over the wealthy.
4) This further encourages increasing the velocity of money because money will then be given away freely. It discourages using money--a tool, no more--as a way to control or disrupt society.
5) If changing something as irrelevant as a hashing algorithm is what it takes to restore the balance, then the protocol must facilitate this in every way possible. Via section 4, a new currency can be created where the old currency can be accepted at a 1:1 value, while new currency can be created again by whatever means is easily available to the population.
If EvilMegaCorp owns the hardware, a large chunk of the shares, and a large chunk of the peers, it must still sanction the new currency or everyone will know it is a fraud (and the new currency will continue to operate), so it is in EvilMegaCorp's best interest to never attempt this control in the first place because it will lose all shares in the new currency. In completely different scenarios, currencies with different ideals could simply compete, or if developing countries have different needs they could have regional currencies, or if the network becomes too large for individual nodes to handle it could split into shards. These are the types of things that are necessary to account for if a currency is intended to replace fiat. It must be easy enough to foster these types of things to truly separate the people from goverbankwealthy controlled money.
If there is not consensus, the Decrits proof-of-consensus design allows both ideals to separate peacefully. Again, if peace is not desired, those who don't desire peace just look like bullies (or a huge takeover attempt) and accomplish little.
A bar-napkin type goal would be to have around 0.25-0.5% of all decrits tied up in the network's security. EvilCorp who is strong in fiat but weak in decrits can't do much at all here. It must accept decrits and the properties of decrits. Create specialized hardware to make a lot of decrits? Heavily limited by the restrictions in place. Lots of money distributed randomly to everyone but you. This is protection in the early years. EvilCorp can waste fiat effort to upset the system, but all it really accomplishes is adding power and value to Decrits. Value away from the powerful and to the people. Worst case scenario near-unanimous vote to change the algorithm and change difficulty. Money supply won't get too upset if the difficulty is off because difficulty and coin award is adjusted after each mint block.
There are massive consequences in value in trying to take control. And the people can wrest it back. It is an undefeatable system. I would imagine that those who become very wealthy under this system would be those that truly innovated and moved society forward. Putting the people of the world on level ground in regards to currency means that manipulating developing countries would be much more difficult--innovation by subjugation is much less profitable. Bank/government manipulations of credit and the money supply is an afterthought of a time past.
Everything I think real libertarians hope a currency can be, rather than wallstreet 2.0. Imagine the scenario leading up to the housing crisis. Banks give away subprime mortgages but then start running out of money, so interest rates increase, encouraging the production of new money, giving money freely away and making it easier for those to afford housing payments, allowing housing market value to be transferred into Decrits in the form of the people owning more of their property so that new people may also afford property. The end results is banks are a mildly profitable business in the business of helping people store wealth in property, breaking the system of never-ending debt.
Anyone interested in helping?