Bitcoin Axioms
The Bitcoin community has developed a set of unwritten principles and beliefs over the years, we will refer to them as axioms. These axioms represent the core philosophy that guides the community's approach to Bitcoin and its development. Here are key axioms that are widely recognised within the Bitcoin community:
1. Decentralisation
The belief that power and control should be distributed among many people or nodes, rather than concentrated in a few hands. This principle is fundamental to Bitcoin's design, promoting resilience and resistance to censorship.
2. Don't Trust, Verify
A mantra emphasising the importance of personal verification and due diligence. It reflects the ethos that one should independently verify transactions and the rules of the network, rather than blindly trusting third parties.
3. Not Your Keys, Not Your Bitcoin
This axiom stresses the importance of holding your own private keys. It means that if you don’t control the private keys of your Bitcoin, then you don’t truly own the Bitcoin - the entity that controls the keys does.
4. Bitcoin is Apolitical
The belief that Bitcoin operates outside of traditional political and financial systems. It's seen as a neutral form of money not controlled by any state, corporation, or individual.
5. Fix the Money, Fix the World
A maxim based on the belief that many of the world's problems are linked to flawed financial systems. Bitcoin enthusiasts believe that by fixing issues in the monetary system (e.g., inflation, control by central authorities), broader societal issues can be improved.
6. Long Term Thinking
A focus on the long-term potential and stability of Bitcoin, rather than short-term gains or fluctuations in price.
7. Bitcoin Not Blockchain
This reflects the belief that the true innovation is Bitcoin, rather than the broader concept of blockchain technology. It suggests that the unique properties of Bitcoin can't be replicated merely by using a blockchain.
8. Layered Scaling
The belief that Bitcoin's scalability should be addressed through layers built on top of the base blockchain, like the Lightning Network for fast, small transactions.
These axioms are not universally accepted or written in stone but are widely recognised within the Bitcoin community. These shape the philosophy, development, and user practices within the Bitcoin ecosystem.
