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        "rendered": "<div data-v-43e640e6>\n<p>Bitcoin (<a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\" title=\"null\">BTC<\/a>) has leapt from chat rooms and code repos into graduate syllabi. At the University of the Cumberlands (UC), students recently completed the eight-week course \u201cBitcoin: Fundamentals, Technology, and Applications<em>.\u201d<\/em><\/p>\n<p>This graduate course grappled with Rothbard\u2019s monetary theory, Mises\u2019 critiques and technology overviews from classic Bitcoin works. It asked not whether Bitcoin matters but how much it matters \u2014 and how it reshapes money, markets and management.<\/p>\n<p>The idea for the course was imagined at <a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/news\/100k-bitcoin-analysts-btc-price-prediction\" title=\"null\">the end of 2024<\/a>, as Bitcoin was approaching new all-time highs (ATH). UC, which has degrees featuring blockchain technology, saw an opportunity to expand its electives beyond these specialized programs. Working with the course development team, the administration approved the offering with a clear mission: to promote financial literacy and ground students in Bitcoin\u2019s fundamentals.<\/p>\n<p>Here\u2019s how the course was taught \u2014 from reading list to grading structure \u2014 and essential lessons learned for future iterations.<\/p>\n<h2>How to teach Bitcoin 101<\/h2>\n<p>The course design forced students to confront Bitcoin not as a speculative asset but as a technological and economic phenomenon with historical roots and future applications.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-09\/01992e7a-90a5-70db-9b54-8b334f234729\" title><figcaption><em>Influences of Economic Theory on Bitcoin. Source: Dr. Michael Tabone<\/em><\/figcaption><\/figure>\n<p>To understand Bitcoin, the course first concentrated on the cypherpunks and their influences over the decades leading up to the Bitcoin Genesis Block and beyond. The works of Chaum, May, Finney, Hughes, Szabo and others helped to demonstrate that governmental overreach, privacy infringements and individual liberty were influential concepts in the pre-Bitcoin era and on Bitcoin forums.<\/p>\n<p>Many of these people created the first iterations and attempts at a modern digital currency:<\/p>\n<ul>\n<li>\n<p>David Chaum\u2019s DigiCash in 1989<\/p>\n<\/li>\n<li>\n<p>Douglas Jackson\u2019s E-Gold in 1996<\/p>\n<\/li>\n<li>\n<p>Adam Back\u2019s Hashcash idea in 1997<\/p>\n<\/li>\n<li>\n<p>Nick Szabo\u2019s Bit Gold<\/p>\n<\/li>\n<li>\n<p>Wei Dai\u2019s B-money in 1998<\/p>\n<\/li>\n<\/ul>\n<p>All brought pieces of the Bitcoin puzzle, like proof-of-work, pseudonymity and consensus algorithms.<\/p>\n<h2>From Rothbard to Bitcoin\u00a0<\/h2>\n<p>One of the influences of the cypherpunks and early Bitcoiners was Murray Rothbard, an economics professor and prolific writer. He wrote a perfect book that walks through the issues with the fiat system, called \u201cWhat Has Government Done to Our Money?\u201d<\/p>\n<p>Working through the basics of central banking, debasement and the eras of government-controlled money, students could see how cypherpunks were motivated to create a currency that could organically be accepted by society that did not have the pitfalls of fiat-backed currency.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-breaks-red-september-streak-third-year\" rel target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/bitcoin-breaks-red-september-streak-third-year\"><em><strong>Bitcoin set to beat \u2018red September\u2019 dip for third straight year<\/strong><\/em><\/a><\/p>\n<p>Rothbard produced this work in the 1970s, long before the Bitcoin white paper. But he grapples with fundamental questions, like what properties of money matter and why only society can decide what counts as money. This makes the book an excellent springboard into the discussion about Bitcoin as an alternative to the problems of fiat.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2025-09\/01992e7a-9337-7934-b622-902746d3116e\" title><figcaption><em>Image adapted from the Blockchain Use Cases and Adoption Report. Source: <\/em><a data-ct-non-breakable=\"null\" href=\"https:\/\/cointelegraph.com\/category\/use-case\" rel=\"https:\/\/cointelegraph.com\/category\/use-case\" target=\"https:\/\/cointelegraph.com\/category\/use-case\" title=\"https:\/\/cointelegraph.com\/category\/use-case\"><em>Cointelegraph Research<\/em><\/a><em>\u00a0<\/em><\/figcaption><\/figure>\n<h2>The code for the curriculum\u00a0<\/h2>\n<p>Due to the diverse background of the students, being too technical was an issue when introducing Bitcoin, as the course is only eight weeks long. Being too deep in the weeds could alienate an MBA student, while not explaining enough of the computer science behind Bitcoin could lead to students not understanding how it is an actual solution.<\/p>\n<p>For this, Yan Pritzker\u2019s book \u201cInventing Bitcoin\u201d offered the perfect solution. It explains how the history of the pre-Bitcoin cryptocurrency attempts failed, what each brought to the computer science table and, eventually, how each influenced Bitcoin\u2019s creation.<\/p>\n<p>Pairing this with articles from cryptomedia outlets like Cointelegraph, other works from authors such as Saifedean Ammous (\u201cThe Bitcoin Standard\u201d),\u00a0Andreas Antonopoulos (\u201cMastering Bitcoin\u201d)<em> <\/em>and<em> <\/em>Jeff Booth (\u201cThe Price of Tomorrow\u201d)<em>, <\/em>students were allowed to explore the economics and technology of the Bitcoin revolution in a non-overwhelming manner.<\/p>\n<h2>How to assess and grade a Bitcoin class<\/h2>\n<p>Each week, students produced graduate-level research papers tackling questions that forced them to bridge theory and practice. One assignment asked: What were three of the pre-Bitcoin attempts at digital currency, and how did their failures help Bitcoin\u2019s design?<\/p>\n<p>Another challenged them to evaluate whether Bitcoin satisfies Mises\u2019 Regression Theorem to qualify as \u201ctrue money.\u201d Weekly discussions complemented the writing, drawing out both technical detail and the myths that have long haunted the cryptoverse.<\/p>\n<p>The usual objections surfaced: Bitcoin is only for criminals; its carbon footprint will boil the oceans; it\u2019s too volatile to be a store of value. By defending or dismantling these claims with data and theory, students had their comprehension tested while revealing where their intuitions clashed with Bitcoin\u2019s realities.<\/p>\n<p><em><strong>Related: <\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/news\/back-school-teachers-methods-ai\" rel target=\"_self\" title=\"https:\/\/cointelegraph.com\/news\/back-school-teachers-methods-ai\"><em><strong>Back to school: Teachers adopt new methods to tackle AI<\/strong><\/em><\/a><\/p>\n<p>One particularly striking outcome came from a capstone paper on Bitcoin\u2019s energy usage. A student began from the familiar critique of Bitcoin as an environmental villain, only to conclude, after comparing mining\u2019s footprint to the global financial system, that Bitcoin consumed far less energy and emitted far fewer emissions than expected. That reversal, grounded in the student\u2019s own research, underscored how structured academic inquiry can cut through both hype and fear.<\/p>\n<h2>Bitcoin course improvement proposals: What\u2019s next?\u00a0<\/h2>\n<p>Like Bitcoin, the course will learn from its earliest iterations and make improvements. For one, the myths in the common media will be brought up in earlier weeks. A mistake made in this first iteration was assuming that only those already interested in Bitcoin would take this course. If one of the biggest problems with Bitcoin adoption is educating the public, overcoming the fear, uncertainty and doubt still has to be front and center.\u00a0<\/p>\n<p>Besides the books mentioned above, a lab will be added, which walks through each step of a transaction process in Bitcoin, from initiation to cold storage. During this journey, every technical aspect will be explained: not only the \u201chow\u201d<em> <\/em>of each part in the process, but also \u201cwhy\u201d it is there. This lab will be a hands-on way of connecting the dots from the pre-Bitcoin cypherpunk philosophy days through today\u2019s expanse into traditional finance, decentralized finance and beyond.<\/p>\n<h2>Bitcoin and formal graduate education<\/h2>\n<p>Adding a course on Bitcoin to the curriculum at the University of the Cumberlands was a natural fit. With the <a data-ct-non-breakable=\"null\" href=\"https:\/\/iacbe.org\/memberpdf\/UniversityoftheCumberlands.pdf?utm_source=chatgpt.com\" rel=\"noopener nofollow\" target=\"_blank\" title=\"null\">only international accreditation<\/a> for its <a data-ct-non-breakable=\"null\" href=\"https:\/\/www.ucumberlands.edu\/academics\/executive\/masters-global-business-blockchain-technology\" rel=\"noopener nofollow\" target=\"_blank\" title=\"null\">Master of Science in Global Business with Blockchain Technology<\/a> program, UC is always looking to help students gain financial literacy through practical subjects.<\/p>\n<p>The Bitcoin course is a graduate-level elective, yet it may become part of another program offered at the university. Even if someone\u2019s interest in cryptocurrency is outside of \u201cjust Bitcoin,\u201d having a fundamental understanding of Bitcoin is essential to being a well-rounded blockchain professional.<\/p>\n<p><em><strong>Magazine: <\/strong><\/em><a href=\"https:\/\/cointelegraph.com\/magazine\/chatgpt-linked-murder-suicide-after-accidental-jailbreak-ai-eye\/\" rel target=\"_self\" title=\"https:\/\/cointelegraph.com\/magazine\/chatgpt-linked-murder-suicide-after-accidental-jailbreak-ai-eye\/\"><em><strong>\u2018Accidental jailbreaks\u2019 and ChatGPT\u2019s links to murder, suicide: AI Eye<\/strong><\/em><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\" data-ct-non-breakable=\"undefined\" label=\"Subscription Form: Markets Outlook\"><\/template><\/div>",
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