The Finance Prof. Who Says Bitcoin’s Going to ‘Bite The ...

‘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/*^^*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

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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.” For more on bitcoin’s 10th anniversary, check out our new interactive feature Bitcoin At 10. ————————————————————— Back in August 2014, I discovered that the bitcoin mining industry had Kevin Dowd ist Professor für Wirtschaft und Finanzen an der Universität Durham. Libertär und unerschrockener Verfechter privaten Geldes gegenüber von der Regierung herausgegebenen und kontrollierten Alternativen, hat Dowd ausführlich über Bitcoin geschrieben, zusätzlich zu den Themen, die ihn umgeben. Kevind Dowd. Image from Independent Institute. By CCN.com: Kevin Dowd is a Professor of Finance and Economics within the Business School at Durham University, Northeast England, and the co-author of the 2015 paper “Bitcoin Will Bite the Dust,” along side marketplace analyst and writer, Martin Hutchinson, for the libertarian Cato Institute in Washington DC. CoinDesk printed an op-ed via ... 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.” Leader in blockchain news. Economic professor Kevin Dowd argues that bitcoin is like the Ford Model T and, while innovative, cannot survive in the long term.

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