Quote from: justusranvier on November 19, 2014, 11:15:02 PM

Quote from: sickpig on November 19, 2014, 11:12:21 PM

Quote from: Kevin Dowd bitcoin-will-bite-the-dust

However, the mining industry is characterized by large economies of scale. In fact, these economies of scale are so large that the industry is a natural monopoly.

Why, let say, discus fish rather than ghash.io should became a monopoly if being such a thing will mean getting a
btc/fiat ratio equal to 0?

There's no such thing as natural monopoly. It's always been a fallacy:

http://mises.org/library/myth-natural-monopoly

thanks. I'll go through the post in more detail as soon as time constraints permit me.

ps mises.org seems to be a real gold mine