Wow, sounds like a real genius plan you got there, hotshot.
Ignoring the fallacy of the "security" of the massive hash power of the Bitcoin network (which has been dropping about 15% every 2 weeks), there are just one or two problems with your fabulous "plan"....
If the attacker is smart and uses a balanced approach they could amass 1 mil coins cheaply.
He'd have to be smart with a lot of money to burn, and a loooooong time to wait for those lowball sell orders to come in. Probably better off just putting the money in a bank account an earning interest tbqh. Right now it would be impossible to buy a million coins outright with any amount of money, there aren't that many for sale.
An alternative approach would be for attacker to scam/defraud/steal coins. For example if the mybitcoin.com operators had existed on this alt-chain through their outright theft they would now be considered "trusted". Don't you see the logic?
Wait what, mybitcoin.com stoled a million bitcoins?? I thought the number was closer to 150k?
Do you not think if someone stole a million coins, the thousands of people complaining that they had their coins stolen would alert people to what was going on? The value of the coins would crash and your whole "plan" becomes a total waste of time.
Also, if you did manage to steal a million coins without the entire world knowing what is going on, why would you then use that wealth to destroy the network which makes them valuable? Surely human greed takes over at that point and you would just sell them?
Never mind, the rest of your plan is sure to be foolproof...
Attacker now checks the average block signing time for the even blocks to estimate hashing power of even trusted nodes. Using EC2 cloud or botnet attacker ramps up his trusted node's hashing power to 100x the trusted nodes hashing power. While this may seem like a lot in reality it isn't. See we have made this very easy for the attacker. In essence we have ensured the much larger hashing power of the "untrusted network" can't help us to protect the vulnerable trusted nodes. If there are only a few (or say one) trusted node you could produce a super powerful trusted attack node with only ~100 CPU. Now building 100 CPU may be a challenge but you can always rent them from Amazon for ... $40 per hour. If we massively overpower the other trusted nodes then we are defacto the only effective trusted node as we have a reasonable chance of always signing a node faster than any other trusted node. If there is only one well that makes it even easier.
Lololol, maybe not then... Ok, so you don't appear to get how Trusted Nodes work. Wait for the Source to come out and you will see why this won't work.
Launch a normal 51% attack against the network. Normally this would be prohibitively expensive however the use of low cost cloud CPU resources , botnets, and rogue system admins mean that low cost commodity CPU can be used to win via numerical superiority. Say your alt chain has 0.05234GH/s of hashing power and average CPU gets 10KH/s. That is only ~5000 CPUs necessary to achieve 51% control over the network. A well timed DDOS attack against major pools could degrade that network hashing power significantly. When 5000 CPU are available via Amazon for $160 per hour or less with unlawful computing power you start to realize how a trivial sum can be used to attack the network.
Cute, but I think you overestimate how "cheap" Cloud CPU power is. To rent 5000 CPUs for any significant amount of time you would need quite a lot of money, much more than you could ever hope to earn out of this crazy scheme.
Plus how will you configure all of these clients? You would need a team of people working round the clock, will they all work for free?
$160 an Hour? Even at this price (which is pure fantasy), that means if you need a couple of days to set up and pull off your attack you're spending 7 grand on cloud computing power.. If you need a week, you'll spend over 25 grand. Do you expect to make this money back somehow with this attack, or are you just doing this for lulz? You'll somehow need to raise this money just to attempt to destroy something for no reason and with no guarantees it will even work...
Attacker now has control over the block chain. The combination of trusted nodes and CPU-friendly algorithm allowed this to happen for a trivially small amount of resources.
Uhuh... lets say your crazy scheme does work and you just spent $50k to buy up a million Solidcoins, "overpower" the trusted nodes and perform a 51% attack on this "imaginary" network, now what? Destroy it? You sure as fuck won't be able to sell the coins you steal, everyone will know what has just happened so the price would drop to zero. So what's the point of all this? You could have spent that $50k on drugs, or a car...