In the bitcoin whitepaper, Satoshi Nakamoto (2008: 2) defines an electronic coin as a chain of digital signatures. Many have since defined a bitcoin as a chain of digital signatures. This latter definition continues to appear in reports from central banks, advocacy centers, and governments, as well as in academic papers across the disciplines of law, economics, computer science, cryptography, management, and philosophy. Some have even used it to argue that what we now call bitcoin is not the real bitcoin. (...) The definition fails, however. This is important because the Chain Definition obscures Satoshi’s solution to a dilemma in the design of electronic cash, as well as the truth about bitcoin’s privacy and fungibility. In this article, I explain why the Chain Definition fails and what Satoshi likely endorsed instead. Along the way, I untangle some issues around bitcoin fungibility and clarify some others around the ontology of digital assets. (shrink)

Various strands of religious thought distinguish veneration from worship. According to these traditions, believers ought to worship God alone. To worship anything else, they say, is idolatry. And yet many of these same believers also claim to venerate—but not worship—saints, angels, images, relics, tombs, and even each other. But what's the difference? Tim Bayne and Yujin Nagasawa (2006: 302) are correct that “it seems to be extremely difficult to distinguish veneration from worship.” Many have argued throughout history that veneration collapses (...) into worship and that those who venerate saints or icons are guilty of idolatry. In this essay, we distinguish worship from veneration in two stages. First, we give a formal account of their difference. Drawing from St. John of Damascus (c. 675-749 AD), we argue that worship is a determinate of the determinable veneration. Second, we give more substantive accounts of both that explain their differences and similarities. Drawing again from St John, we argue that acts of veneration and worship signify subordination. Their difference, however, lies in the fact that worship alone requires absolute subordination. (shrink)

In this article, we describe what cryptocurrency is, how it works, and how it relates to familiar conceptions of and questions about money. We then show how normative questions about monetary policy find new expression in Bitcoin and other cryptocurrencies. These questions can play a role in addressing not just what money is, but what it should be. A guiding theme in our discussion is that progress here requires a mixed approach that integrates philosophical tools with the purely technical results (...) of disciplines like computer science and economics. Note: this article is the first entry within a two-part sequence on the Philosophy, Politics, and Economics of Cryptocurrency. (shrink)

In this article, we identify three key design dimensions along which cryptocurrencies differ -- privacy, censorship-resistance, and consensus procedure. Each raises important normative issues. Our discussion uncovers new ways to approach the question of whether Bitcoin or other cryptocurrencies should be used as money, and new avenues for developing a positive answer to that question. A guiding theme is that progress here requires a mixed approach that integrates philosophical tools with the purely technical results of disciplines like computer science and (...) economics. Note: this article is the second entry within a two-part sequence on the Philosophy, Politics, and Economics of Cryptocurrency. (shrink)

In common treatments of deontic logic, the obligatory is what is true in all deontically ideal possible worlds. In this article, I offer a new semantics for Standard Deontic Logic with Leibnizian intensions rather than possible worlds. Even though the new semantics furnishes models that resemble Venn diagrams, the semantics captures the strong soundness and completeness of Standard Deontic Logic. Since, unlike possible worlds, many Leibnizian intensions are not maximally consistent entities, we can amend the semantics to invalidate the inference (...) rule which ensures that all tautologies are obligatory. I sketch this amended semantics to show how it invalidates the rule in a new way. (shrink)

This chapter offers an interpretation of Gottfried Wilhelm Leibniz’s idealism. Despite Leibniz’s frequent claim that the universe ultimately boils down to monads, he also sometimes appears to say that the world’s fundamental furniture includes extended, corporeal substances. Here, I examine Leibniz’s views about the relationship between monads and the material world, especially in connection with material bodies and corporeal substances.

In On What Matters, Derek Parfit enters the debate between actualists and possibilists. This debate concerns mere possibilia, possible but non-actual things such as golden mountains and talking donkeys. Roughly, possibilism says that there are such things, and actualism says that there are not. Parfit not only argues for possibilism but also argues that some self-proclaimed actualists are, in fact, unwitting possibilists. -/- I argue that although Parfit’s arguments do not fully succeed, they do highlight a tension within the frameworks (...) of many actualists. Many actualists conscript abstract objects into the role of "possible worlds" to avoid quantifying over mere possibilia. But, in doing so, actualists must quantify over mere possibilia anyway. When we alleviate this tension, a Parfit-friendly form of actualism arguably remains. This form of actualism says that while everything that exists is actual, it is also true in some sense that there are mere possibilia. (shrink)