Well there is a difference. The federal reserve currency legally requires exclusive use of it for paying tax. I prefer not to involve myself in any legal discussion with you because of course that is your strongest area and it would only sidestep the debate away from technical discussion. What matters in the technical debate is which solution better answers the "performance benefits vs security costs" question.
If security costs performance then depending on how much mainstreamability you desire to have; you may have to give up some negligible security to gain performance. What matters is the impact of that sacrifice and this impact must be quantifiable, measurable, and not merely "let's trust the opinion of wise genius developers who tell us what they think and feel". No, we need quantifiable evidence in support of their claims one way or the other.
The Proof of Stake crowd has provided quantified evidence in the form of equations which show that Proof of Stake works via game theory. The idea being that there is a cost associated with violating or attempting to violate the protocol. In DPOS the cost is you can get fired as a witness and see your privileges revoked. In Casper you could see your tokens burned as punishment for violation of the protocol. In other words, there are "laws" in the economic game theoretic sense, and enforcement mechanisms in the form of "punishments" or "fines" or "fees" or revoked privileges.
The Casper paper has been released as a specification and you can peer review it. It will be tested soon. DPOS is proven to work on Steem and while I admit it does have political problems; it clearly works because we are using it right now for this debate. DPOS is secure under a greater amount of transactions per second than just about every other blockchain, with over 900,999 users of Steem alone based on accounts. Someone can of course make a case that Proof of Stake is less secure "in theory" but in practice it's just as secure as Proof of Work. I really don't see much benefit but I do see some slight theoretical benefits to Proof of Work, but only theoretical, only strategic, not practical.
'I prefer not to involve myself in any legal discussion with you because of course that is your strongest area and it would only sidestep the debate away from technical discussion.' - WRONG! I never argue for the sake of the argument, but only to increase my knowledge.
O
(
n
2
) complexity to
O
(
n
)) [39] and negotiations >> the three money functions - MESVUA.no. forget the legal perspective. follow the mechanism design. Fed notes ofc have higher mainstreamability than FB access utility tokens because Fed notes serve all poss. transactions, backed by the whole economy, while FB is just a part of the economy, a sector of sector - providing use in 'socialization over internet'. This splendid material I recommend too, I do not authority-fallacy-ise because I do not know the author, I only content-refer. It seems to me that each sentence is backed by at least one book! https://www.scribd.com/document/354688866/Bitcoin-A-5-8-Million-Valuation-Crypto-Currency-and-A-New-Era-of-Human-Cooperation - check page 5, <<simplifies pricing calculations (from