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- The University of Wyoming would launch the first Bitcoin Research Institute in August, directed by Bitcoin activist Bradley Rettler.
- Rettler acknowledges the existence of highly relevant BTC research works, however, he believes that most false claims from studies slipping into journalism and policies were authored by people with limited knowledge of the asset class.
Bitcoin (BTC) is set to make a groundbreaking presence in academia as the University of Wyoming announces plans to launch the UW Bitcoin Research Institute in August.
ANNOUNCEMENT: The University of Wyoming has established the UW Bitcoin Research Institute. https://t.co/qDuYZGmnxo
The BRI aims to produce high-quality peer-reviewed publications about Bitcoin from all academic disciplines. First act: hiring @resistancemoney!
1/— ₿radley Rettler (@rettlerb) July 28, 2024
According to the report disclosed by Bitcoin activist and Associate Professor at the University of Wyoming Bradley Rettler, Bitcoin has suffered an undeserving poor academic research stemming from the activities of researchers who have limited knowledge about the asset class. Per his observation, most research works fail to consider the difficulty adjustment and appear completely clueless about block size caps.
Why the Research Institute is Important
Citing a 2018 research led by University of Hawaii Professor Camilo Mora, Rettler mentioned that some findings highlighted in the study showed a complete lack of research. One of the notable claims is that Bitcoin alone could increase global warming by 3.6° Fahrenheit (2 Degrees Celsius) by 2048.
This motivated the research carried out by Castle Island Ventures partner Nic Carter and NYDIG founder Ross Stevens. As we reported, this research estimated that Bitcoin energy expenditure and carbon emissions would account for 0.4 percent and 0.9 percent of global figures by 2030.
On top of that, Rettler highlighted some infamous claims like the ones made in the “Bitcoin Black Paper” book authored by Nassim Nicholas Taleb. According to him, some of these documents are unaware of the existence of Layer 2s like Lightning. Unfortunately, they survived and made entry into journalism and policy.
Others like @nntaleb’s infamous “Bitcoin Black Paper” are unaware of Layer 2s like Lightning, and others are unaware of the supply cap — perhaps Bitcoin’s most distinctive feature. Others make faulty assumptions about Bitcoin user demographics. These mistakes make their way into journalism and policy. BTC is multi-faceted in theory and even more so in practice. Journalists can’t be experts, so they rely on academics. Too many of those academics have let them down.
Rettler Throws More Light on the UW Bitcoin Research Institute, Acknowledges Proper Research Works
In his submission, Rettler admitted the circulation of good academic research on Bitcoin, highlighting the works of William J. Luther, Associate Professor of Economics at Florida Atlantic University, Josh Hendrickson, Professor and Chair at the Department of Economics of the University of Mississippi, Margot Paez, climate change physicist, Craig Warmke, an Associate Professor of Philosophy, Andrew M. Bailey, Bitcoin researcher, etc.
Pointing out the gap in Bitcoin research in academics, Rettler stated that only a few advisors allow their advice to focus on the asset class due to inadequate incentives. For the Bitcoin Researching Institute, the community that supports scholars and gives critical feedback on their projects would be provided with funds for travel and lodging. According to him, this could remove the long-existing barrier and encourage academic research to be done by people who understand BTC.
The University of Wyoming is the perfect place for this (due to the presence of) Senator Cynthia Lummis, Caitlin Long, Chris Rothfuss, Julie A. Hill, Prof. Steven Lupien, Bitcoin miners using all kinds of energy, a School of Energy Resources, School of Environment and Natural Resources…
With UW Bitcoin Research Institute being a nonprofit, Rettler clarified that it is accepting BTC donations directly. Also, 4% of its allocation would be invested in BTC.
At press time, BTC was trading at $69k after surging by 3% in the last 24 hours.
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