The Dark Triad, the “Church of Satoshi,” and the Abandonment of Bitcoin’s Original Purpose
Bitcoin (BTC) has transitioned from a peer-to-peer micropayment system into a belief system that mirrors many characteristics of organised religion. Central to this transformation is the abandonment of the core principles outlined in Satoshi Nakamoto’s Bitcoin: A Peer-to-Peer Electronic Cash System (2008). BTC has shifted from its original focus on micropayments to become a speculative asset, with decentralisation elevated to a quasi-religious ideal, rather than a functional tool. This shift is driven by theological, sociological, and psychological factors, particularly the emergence of the “Church of Satoshi” in 2011, which has reinforced decentralisation as an end in itself. This article explores how BTC’s transformation undermines its original goals, introduces decentralisation as a religious tenet, and examines the role of the dark triad—narcissism, Machiavellianism, and psychopathy—in shaping BTC’s evolution.
The Abandonment of Bitcoin’s Original Purpose: From Micropayments to Speculation
Bitcoin was designed as an electronic cash system, with the explicit aim of enabling peer-to-peer micropayments without the need for intermediaries (Nakamoto, 2008). The system’s key innovation was its ability to solve the double-spending problem through decentralised cryptographic proof, allowing low-cost, small-scale transactions. This was intended to facilitate a global financial system where individuals could transfer value quickly and efficiently, with minimal fees.
However, as Bitcoin gained popularity, its scalability issues became apparent. The network’s capacity to handle transactions was limited by its block size, and as demand increased, so did transaction fees and confirmation times. Rather than addressing these issues by increasing the block size or developing alternative scalability solutions, the BTC community shifted its focus. Instead of promoting Bitcoin as a currency for daily transactions, BTC proponents began to describe it as “digital gold”—a speculative asset to be hoarded rather than spent. This marked a clear departure from Nakamoto’s vision of Bitcoin as a digital cash system (Narayanan et al., 2016).
This shift in narrative from utility to speculation can be likened to the transformation of early religious movements. Many religious communities start with a set of practical or moral principles, only to evolve over time into systems focused on symbolic rituals or abstract ideals (Stark & Bainbridge, 1985). In the case of BTC, the shift from micropayments to speculation reflects a similar process, where the original purpose of Bitcoin was abandoned in favour of a new narrative that benefits early adopters and speculators.
Decentralisation as a Religious Ideal
From Means to End
Decentralisation was one of the key technical features of Bitcoin, designed to ensure that no single entity could control the network. In Nakamoto’s original vision, decentralisation was a means to an end, intended to support the system’s security and ensure competition between miners and node operators (Nakamoto, 2008). It was never an end in itself but a tool to achieve the goal of enabling secure, low-cost micropayments.
However, in the evolution of BTC, decentralisation has been elevated to the status of a religious dogma. BTC proponents now treat decentralisation as an ideological imperative, rather than a practical feature of the system. Full nodes, which do not contribute to block-building or transaction verification, are often cited as essential for maintaining the network’s decentralisation, even though they serve no meaningful role in securing the network (Narayanan et al., 2016). This elevation of decentralisation to an end goal mirrors how religious rituals or principles are sometimes elevated to sacred status, even when their original purpose has been lost.
Decentralisation, in BTC’s case, has become a rallying cry for the community. Rather than focusing on the system’s ability to function as a payment system, BTC maximalists invoke decentralisation as a moral good. This has led to an environment where any criticism of BTC’s scalability or functionality is dismissed by invoking decentralisation as a sacred principle, much like religious adherents invoke scripture to silence dissent. This shift from decentralisation as a tool to decentralisation as a religious ideal demonstrates how BTC has moved away from rational discourse and embraced dogmatic belief.
The “Church of Satoshi” and the Creation of New Dogmas
The emergence of the “Church of Satoshi” in 2011 marked a turning point in Bitcoin’s transformation from a technological system to a religious movement. The “Church” refers not to a formal organisation but rather to a community of BTC enthusiasts who revere Satoshi Nakamoto as a prophetic figure. Nakamoto’s disappearance from the public eye has only fuelled the mythology surrounding him, with his words in the Bitcoin White Paper treated as sacred text (Grinberg, 2011). This mirrors how religious communities often elevate their founders to a messianic status, with their teachings subject to selective interpretation by followers.
The “Church of Satoshi” has played a crucial role in shaping the dogmatic belief system that now defines BTC. Although Nakamoto’s original vision focused on creating a decentralised payment system, BTC maximalists have reinterpreted his words to justify the system’s evolution into a speculative asset. The most obvious example of this is the elevation of decentralisation to a core tenet of BTC, despite the fact that it no longer serves its original purpose of enabling micropayments. Much like religious communities reinterpret sacred texts to suit contemporary needs, BTC proponents have adapted Nakamoto’s teachings to fit their own beliefs, even when those beliefs contradict the original white paper (Nakamoto, 2008).
The emergence of new dogmas within the BTC community has also led to a form of exclusionary behaviour, where those who question the system’s direction are ostracised. This was most evident during the “block size wars,” which resulted in the creation of Bitcoin Cash (BCH) and Bitcoin SV (BSV), two forks of Bitcoin that aim to fulfil Nakamoto’s original vision of Bitcoin as a peer-to-peer cash system (De Filippi & Loveluck, 2016). The hostility shown towards these offshoots reflects the degree to which BTC has become a closed, dogmatic system, where dissent is not tolerated.
The Dark Triad - Narcissism, Machiavellianism, and Psychopathy in BTC Leadership
BTC’s transformation into a religion has been driven, in part, by the dark triad of personality traits: narcissism, Machiavellianism, and psychopathy (Paulhus & Williams, 2002). These traits are often found in cult leaders and have been instrumental in shaping BTC’s evolution.
Narcissism is evident in the way many BTC influencers present themselves as visionaries, promising their followers a financial revolution. These individuals often project an image of intellectual and moral superiority, framing their support for BTC as evidence of their enlightened understanding. This mirrors the behaviour of religious leaders who claim special access to divine knowledge, using their perceived authority to justify their positions.
Machiavellianism, characterised by manipulation and deceit, is prevalent in the way BTC leaders have shifted the narrative around Bitcoin to suit their interests. By promoting Bitcoin as “digital gold” rather than as a digital cash system, these leaders have ensured that early adopters continue to benefit from the system’s speculative price increases. This narrative manipulation is a classic Machiavellian strategy, where the leaders of the BTC community have successfully convinced their followers to accept a new reality that primarily benefits those who got in early (Christie & Geis, 1970).
Psychopathy, defined by a lack of empathy and a willingness to harm others for personal gain, is also evident in BTC’s leadership. Many of those who promote BTC as a store of value show little concern for the fact that its current design excludes large parts of the global population, particularly those in developing countries who cannot afford the high transaction fees. This lack of concern for the original goals of Bitcoin as a tool for financial inclusion is symptomatic of psychopathic tendencies, where the well-being of others is disregarded in favour of personal profit (Paulhus & Williams, 2002).
The Psychological Impact of the “Church of Satoshi”
Cognitive Dissonance and Confirmation Bias
The psychological dynamics within the BTC community are characterised by cognitive dissonance and confirmation bias, both of which play a critical role in sustaining the belief system. Cognitive dissonance occurs when individuals are confronted with information that contradicts their beliefs, leading to discomfort. Rather than adjusting their views, BTC adherents often rationalise the inconsistencies in the system by shifting the narrative or ignoring facts (Festinger, 1957). For instance, when confronted with the fact that BTC no longer functions as a scalable payment system, proponents simply shift the focus to Bitcoin’s role as a store of value, avoiding the need to confront the failure of the original vision.
Confirmation bias also plays a significant role in maintaining the faith of BTC adherents. Rather than seeking out information that challenges their beliefs, BTC proponents selectively engage with data that reinforces their views (Nickerson, 1998). This creates an echo chamber where only positive narratives about BTC are accepted, and criticisms are dismissed as the product of ignorance or malice. This behaviour is not dissimilar to the way religious communities reject evidence that contradicts their sacred texts, relying instead on dogma to sustain their beliefs (McGrath, 2011).
The Shift in Narrative
From Micropayments to Digital Gold
The shift in BTC’s narrative from micropayments to digital gold represents the clearest example of how the system has evolved into a religious belief. Initially, Bitcoin was designed to facilitate fast, cheap transactions without intermediaries (Nakamoto, 2008). However, as the system’s scalability issues became apparent, the BTC community began to pivot away from its original purpose, focusing instead on Bitcoin’s scarcity and potential for long-term value accumulation. This transition allowed BTC proponents to maintain faith in the system, even though it no longer served as a practical payment solution.
The focus on Bitcoin as digital gold is driven largely by its fixed supply of 21 million coins, which has been promoted as a feature that guarantees its future value. BTC maximalists often invoke this scarcity as a sacred principle, treating it as the system’s most important attribute, much like religious relics or symbols are venerated for their rarity and association with divine power. However, this focus on scarcity has come at the expense of Bitcoin’s utility. By prioritising the speculative aspects of Bitcoin over its functionality as a payment system, the BTC community has shifted the system’s primary function from facilitating economic activity to enabling speculative investment.
This shift in narrative is particularly evident in the way BTC proponents justify the system’s high transaction fees and slow confirmation times. Rather than addressing these issues as technical problems to be solved, BTC maximalists argue that high fees are a sign of the system’s success and that Bitcoin’s use as a store of value justifies its limitations as a payment system. This reasoning mirrors how religious communities reinterpret challenges or failures as tests of faith or signs of divine approval, rather than as problems that require practical solutions (McGrath, 2011). By reframing Bitcoin’s limitations as strengths, BTC proponents have managed to sustain belief in the system even as it has moved away from its original purpose.
Sociological and Psychological Mechanisms
Reinforcing Belief through Groupthink and Charismatic Leadership
The sociological and psychological mechanisms that sustain BTC’s transformation into a religion are deeply intertwined with the concepts of groupthink, charismatic leadership, and cult dynamics. Groupthink, a psychological phenomenon where the desire for conformity within a group overrides critical thinking, plays a central role in the BTC community (Janis, 1982). The emphasis on decentralisation, combined with the cult-like veneration of Satoshi Nakamoto, creates an environment where dissent is not only discouraged but actively suppressed. Those who question the direction BTC has taken, particularly those advocating for scalability improvements or alternative transaction solutions, are often ostracised from the community or labelled as enemies of the faith.
The BTC community’s emphasis on decentralisation has also led to the creation of what could be described as an “in-group” and “out-group” dynamic. BTC proponents see themselves as part of an exclusive group of enlightened individuals who understand the true value of Bitcoin, while critics and outsiders are viewed as either ignorant or malicious. This dynamic reinforces group cohesion and strengthens the belief system, much like how religious communities often define themselves in opposition to non-believers or heretics (Stark & Bainbridge, 1985). The result is a closed, insular community where any challenge to the dominant narrative is met with hostility, rather than rational debate.
Charismatic leadership has also played a significant role in shaping the religious nature of BTC. Influential figures within the BTC community, often referred to as “thought leaders” or “maximalists,” wield significant power over the narrative and direction of the system. These leaders, many of whom were early adopters of Bitcoin, have successfully positioned themselves as the true interpreters of Satoshi Nakamoto’s vision, even when their interpretations diverge from the original white paper (Nakamoto, 2008). This mirrors the role of religious leaders who claim special access to divine knowledge or insight, using their authority to justify their positions and rally followers.
The dark triad of personality traits—narcissism, Machiavellianism, and psychopathy—further reinforces the cult-like dynamics within BTC (Paulhus & Williams, 2002). Narcissistic leaders in the BTC community often present themselves as visionaries who are leading a financial revolution, framing their support for BTC as evidence of their superior understanding. Machiavellian figures manipulate the narrative around Bitcoin to maintain power and influence, promoting ideas like “digital gold” to ensure continued investment and price appreciation. Psychopathic tendencies are evident in the indifference many BTC proponents show towards the system’s exclusionary nature, particularly its failure to provide financial inclusion for those who cannot afford high transaction fees or who need a scalable payment system.
Cognitive Dissonance and Confirmation Bias
The Psychological Foundations of Faith in BTC
The psychological mechanisms that sustain belief in BTC, particularly cognitive dissonance and confirmation bias, are critical to understanding its religious transformation. Cognitive dissonance occurs when individuals experience discomfort as a result of holding conflicting beliefs or when reality contradicts their expectations (Festinger, 1957). In the context of BTC, cognitive dissonance arises when the community is confronted with evidence that Bitcoin is failing to function as a scalable peer-to-peer cash system. Rather than adjusting their beliefs to align with reality, BTC adherents often rationalise the system’s shortcomings by shifting the narrative to focus on Bitcoin’s role as a store of value or by emphasising decentralisation as an ideological good in and of itself.
This rationalisation process allows BTC proponents to maintain faith in the system, even when its current reality diverges significantly from its original purpose. By reframing Bitcoin’s limitations as strengths, such as claiming that high transaction fees are a sign of success, BTC adherents resolve the cognitive dissonance between their belief in Bitcoin’s future and the practical challenges it faces in the present. This mirrors how religious adherents often reinterpret challenges to their faith as tests of devotion or signs of divine intervention, rather than confronting the contradictions between their beliefs and reality.
Confirmation bias further entrenches this belief system by causing individuals to seek out information that reinforces their existing views while ignoring or dismissing evidence to the contrary (Nickerson, 1998). In the BTC community, confirmation bias is particularly evident in the way proponents selectively engage with data that supports the narrative of Bitcoin as digital gold, while disregarding evidence that highlights the system’s scalability issues or the exclusionary nature of its high fees. This selective engagement with information creates an echo chamber where only positive narratives about BTC are accepted, and dissenting voices are marginalised or silenced.
This combination of cognitive dissonance and confirmation bias creates a feedback loop that reinforces the religious nature of BTC. As adherents rationalise the system’s shortcomings and seek out information that confirms their beliefs, the faith-based aspects of the BTC community become more entrenched. This feedback loop is common in religious movements, where adherents often engage in similar processes to sustain their faith in the face of contradictory evidence (McGrath, 2011).
Conclusion - BTC’s Religious Evolution and the Loss of its Original Vision
BTC’s evolution from a peer-to-peer micropayment system to a speculative asset and quasi-religion is a case study in how technological systems can take on religious characteristics. The abandonment of Bitcoin’s original purpose, the elevation of decentralisation to a quasi-sacred principle, and the emergence of the “Church of Satoshi” have all contributed to this transformation. Sociological mechanisms such as groupthink and charismatic leadership, along with psychological factors like cognitive dissonance and confirmation bias, have further entrenched BTC’s faith-based belief system.
The focus on Bitcoin as digital gold, rather than as a functional currency, reflects a departure from Satoshi Nakamoto’s original vision, where Bitcoin was intended to facilitate low-cost micropayments on a global scale (Nakamoto, 2008). As BTC proponents continue to promote speculative investment and ideological decentralisation, the system moves further away from its foundational goals. In doing so, BTC has become more of a belief system than a technological solution, where dogma supplants rational discourse and faith in the system’s future takes precedence over its practical utility.