The Bitcoin Evidence Base
Common claims about Bitcoin — and what peer-reviewed research actually shows. Verified evidence from Cambridge University, ERCOT, and 22+ academic studies.
Built on Daniel Batten's communication playbook — designed to inform, not persuade.
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Research Highlights
What the evidence shows
Key findings from peer-reviewed research on Bitcoin — energy, environment, security, adoption and more.
Bailey & Warmke (Resistance Money, 2024, Ch. 11.
Source: Bailey & Warmke, Resistance Money (2024), Ch. 11.3.1, 2024
Bailey & Warmke (Resistance Money, 2024) describe Bitcoin's security as INCENTIVE-driven, not honesty-driven. Miners follow protocol rules because deviation costs them money: rejected blocks earn no reward; minority forks devalue.
Source: Bailey & Warmke, Resistance Money (2024), Ch. 9, 2024
Bailey & Warmke (Resistance Money, 2024) argue the OPPOSITE is true. Bitcoin's policy — 21M cap, halving every 4 years, predictable issuance — is the most TRANSPARENT and PREDICTABLE monetary policy ever created.
Source: Bailey & Warmke, Resistance Money (2024), Ch. 5, 2024
Bailey & Warmke (Resistance Money, 2024, Ch. 11.
Source: Bailey & Warmke, Resistance Money (2024), Ch. 11.4.3, 2024
Bailey (Resistance Money, 2024) acknowledges Bitcoin shares features with gold (scarce, durable, no central issuer) but adds capabilities gold lacks: instant verifiability (anyone with a node can verify authenticity in seconds — gold requires expensive assay); global portability (cross continents in seconds); near-infinite divisibility (1 BTC = 100,000,000 sats, can subdivide further); censorship resistance under digital authoritarianism (gold doesn't help against asset freezes on bank accounts). Gold is great for what gold does.
Source: Bailey & Warmke, Resistance Money (2024), 2024
Bailey (opening statement, 2024) argues this misses the point of "monetary luck". Most people in stable democracies haven't yet faced currency crises, banking censorship, or political confiscation — they're lucky.
Source: Bailey, "Bitcoin is good for the world" (2024), §3.3, 2024
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