I Am A Bitcoin Fundamentalist.

Not to the dogmas of the Bitcoin “Maximalists”, the scriptures of the Satoshi “Visioners”, or the Web 3.0 ideologies of the “Multicoiners”. I am characterized by a markedly strict literalism of a fundamental concept: keep Bitcoin immutable.

Background.

Bitcoin has been described as unconfiscatable, borderless, censorship resistant, open, and permissionless. However, none of these properties are inherent to the code per se. Bitcoin exhibits these properties because it leverages humanity’s inability to reach consensus resulting in a Schelling point. This means the network’s participants may be sufficiently diverse and dispersed, such that they are absent communications from Bitcoin’s development and operational communities; therefore, they tend to default to the status-quo — which seems natural to them — and ultimately they do not deterministically upgrade their node implementation. This ensures immutability, and the lack of governance is one of maybe two or three fundamental factors that separates Bitcoin from the herd. …