Thanks, but I posted that link here a couple of days ago
I found it through an article referred by @Walsoraj.
Up to 10--15 years ago, many long-term projections were made based on Moore's law, which was then interpreted as clock speed increasing exponentially. While CPU manufacturers competed for clock speed, their number decreased; until only very few were left by the time the clocks had reached 2-3 GHz. All of a sudden the speed stopped increasing. Could it have been really phyiscal limits, or was it an agreement among the manufacturers to stop that competition, for their common interest? At that point the market was no longer free, various factors prevented some new company from coming into the market with a faster and economically competitive CPU.
One hurdle that is often mentioned but apparenty not resolved is the concentration of mining into a few large corporations. IIRC it is already the case that 3-4 companies have more than 51% of the network's harshrate. If a mining cartel were able to keep competition out, they would end up being just as nasty as the banking cartel is today, and will surely cooperate with them on fees, government corruption, etc.
Banking would be wonderful if it were a really free market. In particular, international money transmittal fees would be a tiny fraction of a percent, and there would be no economical justification for bitcoin. Will bitcoin mining continue to be a free market?
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