Difficulty adjustments in PoW without timestamps

I came across an idea about changing difficulty without using timestamps: https://ethresear.ch/t/thoughts-on-removing-timestamps-in-pow/1148 https://github.com/WebOfTrustInfo/rwot6-santabarbara/pull/13/commits/822de593f2c8f33314b45b933f8f57ba74a4d54c Here's the gist: The block reward system is tweaked so that coins are created indefinitely (no cap). Each block can generate up to `X` coins. The coin generation rate is now linked directly to the block's difficulty, and concepts like "epochs" or "block reward halving" are thrown out. (More difficulty means more coins) Does anyone think this could actually work?

If the principle is more difficulty, more coins, this means that over time there will be more coins, which means that the supply will increase, the price will decrease, and therefore the difficulty will decrease. If it decreases to the extent that double-tunnel attacks can succeed, it will lead to the failure of the system, especially since there is no adjustment to the difficulty.

Inflationary cryptocurrency can have rising price, e.g. Monero or Dogecoin. Inflation must not be too high. What if proposed cryptocurrency had emission increase with difficulty, but returns will be diminishing. For example at the start diff increase is 1 coin per step then, 0.99999999 per step, and so on till it stays at 1 satoshi per step.

Monero is a good currency, but in terms of price (and despite its multiple uses), we are almost at the same levels as in 2017. Regarding Dogecoin price, I think the chart below is sufficient to explain everything. Price is not the important factor here, but rather the cost of a successful double-spending attack.