Ok, so you could theoretically "defend" your new cryptocurrency by basing it on an algorithm that nobody has ASICs for yet, and by the time there are ASICs, its

Ok, so you could theoretically "defend" your new cryptocurrency by basing it on an algorithm that nobody has ASICs for yet, and by the time there are ASICs, its probably defended well enough by mass adoption at that point (otherwise nobody would bother to make an ASIC for it).