The Ethics Of Immutability

A common refrain has emerged in the Bitcoin community: fix the money, fix the world. While there is every reason to be optimistic about Bitcoin’s impact on society it is not enough to rely on lines of code to fix our world. Rather, in this essay on the ethics of immutability, I argue that fixing oneself is the true revolution, and in turn, collectively, as actors in this global network, we are the revolution of change.

Bitcoin was designed to be decentralized, censorship-resistant, open source and unconfiscatable, qualities that set it apart from traditional banking and financial infrastructure. Bitcoin’s architecture means that no central authority can arbitrarily seize funds or block transactions on the network. The transparent, permissionless nature of its code allows anyone to participate without needing approval from intermediaries or gatekeepers. It empowers individuals to transact and store value beyond the reach of censorship, monetary debasement and financial repression by governments and banks.

These attributes have led many to view Bitcoin not just as a new form of money, but as an instrument of freedom in the digital age. In “On Revolution,” Hannah Arendt states 

“the life of a free man needed the presence of others. Freedom itself needed therefore a place where people could come together.” 

It is my hope that the coming together just might be a global, decentralized monetary network.

The framework and means by which we can serve as the instantiation of digital freedom has already been given to us — the actions of Satoshi Nakamoto, Bitcoin’s creator.

As Bitcoiners we often ask ourselves, “What does it mean to be a Bitcoiner?” Generally, responses include simply holding bitcoin, sending transactions, believing in the value of sound money, running a node or any combination thereof. 

Of course, these are necessary but insufficient, I argue, to be a Bitcoiner. One is not a Christian simply because one owns a Bible. Beliefs, and more importantly, one’s actions are necessary to uphold the ethos of Bitcoin. The community has not given enough credence to the fact that Satoshi gave up exorbitant wealth and fame so that we could freely take part in this network. It is this legacy and what it means for the users of Bitcoin that I explore in this paper. We must carry on this spirit of Satoshi by respecting and promoting the freedom of others, if we are to truly fix the world. 

The Immutability Legacy of Satoshi Nakamoto

By walking away, Satoshi Nakamoto embodied the principle that Bitcoin was meant to belong to its community, not to its creator or a central authority. Equally striking is Satoshi’s decision to remain anonymous. To this day, the true identity of Satoshi is unknown, and the creator’s forum posts and emails never revealed personal details. This anonymity was very much in line with the Cypherpunk ethos that influenced Bitcoin’s development, a culture that values privacy and letting ideas speak…