Bitcoin Will Still Bite the Dust

Kevin Dowd is a Professor of Finance and Economics in the Business School at Durham University, and the co-author of the 2015 paper ” Will Bite the Dust.”

For more on bitcoin’s 10th anniversary, check out our new interactive feature Bitcoin At 10.
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Back in August 2014, I discovered that the bitcoin mining industry had the industrial structure of a natural monopoly. A natural monopoly is a market in which production is most efficient with a single producer.

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