Still a dumb idea even if it managed to hold. One CPU one vote is it's not even as "fair" as $1 one vote, because it isn't a bare CPU that does the hashing, but the necessary power, space, cooling and network connectivity as well. The result would have been no different than if GPUs never came into the equation: people in a position to buy an extravagant share of mining resources, no matter what form factor they came in or how they approach the problem of calculating hashes, would always have had a massive and self-amplifying advantage getting started in the network, being awarded more coin bases and controlling more of the leverage over liquidity than anyone else. in the process creating the basis for a shadow banking system even more inscrutable and free from accountability than any central government or bank could hope to be.
The meme of crypto people claiming to be fighting against the central banking or currency is cynical to put it mildly.
I think you massively understate this advantage. Those with existing resources have advantages in nearly every endeavor possible.
This can only be mitigated, not prevented, and not likely in the first example of a currency outside nation state control, which was unthinkable previously. It’s a possible option for evading asset seizure or hyperinflation from a despotic government to not insignificant numbers of people already. One step at a time.
Ethereum 2.0’s proof of stake eliminates the ability of the biggest actors to stockpile and control supply of hardware, while also providing stronger security and massively reducing energy use from mining.
On its face, directly staking coins over accurate security validations makes the problem even more obvious, but the result is that the rich accelerate their ownership slower.
You may be well served by speaking with some of the very well intentioned people working on Bitcoin, Ethereum, and Monero. From my experiences the majority of them do believe they are bettering the world, as do most who work in open source anywhere, and they continue to strive much more for that reason than any indirect personal enrichment.
The meme of crypto people claiming to be fighting against the central banking or currency is cynical to put it mildly.