Can a US-backed Cryptocurrency make Bitcoin obsolete?

This was a question posed on the social media website Quora.

An interesting question whereby the answer isn’t as straight-forward.

The following screen-cap is the answer I made.

Resources:

• The digital dollar project.
  This group is researching the implementation of a digital US$.
  News and updates can be found on clicking the hyperlink in the highlighted text.
• Dogecoin
  A previous entry on this site related to my IN FOCUS-series.
• Ultimate Guide To Cryptocurrency
  Is my newly reworked course on Bitcoin and Cryptocurrency.
• Quora
  This is the platform where I am active.
  The hyperlink in the highlighted text will bring you to the topic at hand.