The Finance Prof. Who Says Bitcoin's Going to 'Bite The

"Bitcoin Will Bite the Dust featuring Kevin Dowd" - Mining industry will continue to centralize, someone should tell him about Blackcoin?

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Two Opposite Views on Bitcoin Mining Centralization: Kevin Dowd & Gavin Andresen

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‘Bitcoin will still bite the dust’

Kevin Dowd, Professor of Finance and Economics in the Business School at Durham University, stands by his 2015 paper predicting the failure of the #1 digital currency.
A recent article by CoinDesk discusses research by an economist that suggests Bitcoin cannot survive long term, due to two key factors.
Kevin Dowd reached his conclusion back when the price of bitcoin was less than $400 – but he stands by it now, more than 3 years and 10x in price later. ‘My reasoning is based on two simple economic arguments. The first is that the bitcoin mining industry is a natural monopoly and a natural monopoly undermines bitcoin’s core value proposition. The second is that in markets with zero regulatory entry barriers, an inferior product cannot survive long-term. Either of these arguments is sufficient to produce my conclusion that the price of bitcoin must go to zero in the long term.’
Dowd’s arguments are well-reasoned, as you’d expect. (He’s not the first to predict bitcoin’s demise, of course.) And he states that no one has been able to refute his conclusions. ‘I have also yet to hear a single intelligent challenge to this argument from the bitcoin community. Instead, the typical response has been personal abuse. Name-calling is no substitute for a reasoned response, however.’

https://cryptoinferno.org/news/bitcoin-will-still-bite-dust/
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01-14 11:42 - '‘Bitcoin will still bite the dust’' (self.Bitcoin) by /u/Kylew88 removed from /r/Bitcoin within 36-46min

'''
Kevin Dowd, Professor of Finance and Economics in the Business School at Durham University, stands by his 2015 paper predicting the failure of the #1 digital currency.
A [recent article by CoinDesk]1 discusses research by an economist that suggests Bitcoin cannot survive long term, due to two key factors.
Kevin Dowd reached his conclusion back when the price of bitcoin was less than $400 – but he stands by it now, more than 3 years and 10x in price later. ‘My reasoning is based on two simple economic arguments. The first is that the bitcoin mining industry is a natural monopoly and a natural monopoly undermines bitcoin’s core value proposition. The second is that in markets with zero regulatory entry barriers, an inferior product cannot survive long-term. Either of these arguments is sufficient to produce my conclusion that the price of bitcoin must go to zero in the long term.’
Dowd’s arguments are well-reasoned, as you’d expect. (He’s not the first to predict bitcoin’s demise, of course.) And he states that no one has been able to refute his conclusions. ‘I have also yet to hear a single intelligent challenge to this argument from the bitcoin community. Instead, the typical response has been personal abuse. Name-calling is no substitute for a reasoned response, however.’ [[link]3
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‘Bitcoin will still bite the dust’
Go1dfish undelete link
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Author: Kylew88
1: ww***o*nde***com/bi*co*n-will-stil*-bite-th*-d*st 2: cr*ptoi*ferno.org*news/b***oin*wi*l-st**l*bit*-dus*/ 3: **ypt*in*erno.org/news/*i*coi**will-s*ill-bite*d**t/*^^*
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See all articles by Kevin Dowd Kevin Dowd. Sheffield Hallam University. Date Written: June 17, 2014. Bitcoin is produced by a ‘digital mining’ process that is intended to limit its supply in a way that is in some ways analogous to the supply process of gold under a gold standard. As with other cryptocurrencies, Bitcoin has the potential Another article, by Kevin Dowd, argues that there is a fundamental flaw in mining, namely that it is a natural monopoly. This recent article is a short summary of an argument made earlier, which I addressed in a blog post at the time. In short, bitcoin mining is a game that can be won or lost when there is competition. By CCN.com: Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, Northeast England, and the co-author of the 2015 paper “Bitcoin Will Bite the Dust,” along with market analyst and author, Martin Hutchinson, for the libertarian Cato Institute in Washington DC.. CoinDesk published an op-ed by Dowd Monday, with the title, “Bitcoin Will Still Bite Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, and the co-author of the 2015 paper “Bitcoin Will Bite the Dust.” Bitcoin mining is a I came across an article on Coindesk recently, titled, “Bitcoin Will Still Bite the Dust“. The author is Kevin Dowd, a Professor of Finance and Economics in the Business School at Durham University, and the co-author of the 2015 paper “Bitcoin Will Bite the Dust.” The author makes a couple of interesting but perhaps overly naive points in support of his argument that bitcoin will

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