Craig Wright, the Australian who long claimed to be Satoshi Nakamoto, resurfaced with a sharp critique of Bitcoin current governance.

His argument centers on a single idea: the base protocol should never change, and anyone who can change it holds too much power.

Why Wright Wants Bitcoin Rules Permanently Fixed

Protocol immutability means the fundamental rules of a blockchain remain permanently fixed, with no upgrades altering how the system works. Wright argues that the principle defines genuine decentralization.

In a series of posts on X, the self-proclaimed Satoshi targeted what he described as control by a small circle of developers. Bitcoin, he wrote, was designed as the opposite of a system in which a group can rewrite the rules and isolate dissenters.

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The protocol must remain immutable, according to Wright, so no developer, miner, exchange, or corporation can alter it for private gain. Stable rules would create a level playing field.

Businesses could then compete without fearing that a future upgrade undermines their investments. Innovation, in his view, belongs at the application layer.

He expanded on the point in a follow-up post, highlighting what he sees as a contradiction. Many who called him a fraud for defending fixed rules simultaneously defend developers who can restrict capacity and set consensus.

Wright also challenged the popular narrative around running a full node. A home node without hash power cannot produce blocks, order transactions, or compel the network to follow its preferences, he said.

“…Bitcoin was never supposed to depend upon trusting the correct developers. It was designed to remove that power entirely. The rules are fixed; everyone competes above them. If you opposed me because I wanted an open protocol that no individual could change, ask yourself what you were actually defending—and who truly benefited from it…,” Wright exposed on X.

Why the Satoshi Controversy Undermines Wright’s Argument

Node operation may verify data for its owner, he argued, but it does not govern. Running nodes has been marketed as a form of sovereignty, while economic power has shifted toward exchanges and custodians.

Capacity limits push ordinary users away from direct on-chain transactions and toward centralized services, he claimed, reversing the system’s original intent.

His posts also addressed Bitcoin’s evolving public story. The marketing moved from electronic cash to digital gold, then to a store of value, and recently toward promises of generational wealth.

“…the limits pushed ordinary users away from direct transactions and towards exchanges, custodians, payment channels and other middlemen. You were taught that running powerless software at home made you independent while the economic system became increasingly dependent upon centralised services…,” Wright noted.

Wright dismissed that framing as unrealistic. A multi-trillion-dollar asset cannot repeat its early exponential returns, and market capitalization does not equal cash realizable without collapsing prices.

The critique arrives with substantial baggage, however. A United Kingdom High Court ruled in 2024 that Wright is not Satoshi Nakamoto, finding he had forged documents on an extensive scale.

He later received a suspended prison sentence for contempt of court after breaching orders related to that case. Those rulings undercut the authority his claims once carried within the industry.

The underlying debates remain genuine nonetheless. Scaling, protocol rigidity, and the balance of power between developers, miners, and users have divided Bitcoin for a decade.

Whether his comments shift any minds seems doubtful. They do reaffirm a position he has held consistently, regardless of what courts concluded about his identity.

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Source: BeInCrypto