On October 2008, an unknown person or group of people under the pseudonym Satoshi Nakamoto published a whitepaper describing how a new decentralized digital currency could be implemented in a computer network. Bitcoin, as it was named, was the first peer-to-peer means of exchange that could be used to transfer payments between any two participants around the world without relying on third parties or intermediaries. Unknowingly, Nakamoto's technology would improve upon its predecessors in three characteristics that according to Buddhism, are inherent to all things.

These characteristics, named the Three Marks of Existence, were defined around 2500 years ago somewhere in Ancient India, by a philosopher known today as The Buddha. Translated to modern english, they are: non-self, impermanence, and unsatisfactoriness.

Just as in the autumn a farmer, plowing with a large plow, cuts through all the spreading rootlets as he plows; in the same way, bhikkhus, the perceiving of impermanence, developed and frequently practiced, removes all sensual passion... removes and abolishes all conceit of "I am." The Buddha — SN 22.102

Non-self Paper money can be held, has weight, volume, and is easily destroyed; the same can be said about gold, art, real estate, and many other assets, but not about Bitcoin. Similar to numbers or mathematical axioms, Nakamoto's invention doesn't depend on a physical representation to work as intended.

Those mentioned above are but a small fraction of the global markets. Stocks, deposit accounts, derivates and others that exists solely on computers and balance sheets might not have a physical representation either, and still, Bitcoin comes closer to the definition of no-self in a different way: it doesn't attach a name or social security number to them. They exist in the Blockchain, visible to anyone and usable to whoever or whatever holds the cryptographic keys to access them. By doing away with KYC requirements, there's no self attached to them.

Impermanence

Money has changed between forms many times through human history. Seashells were the dominant means of exchange three thousand years ago in the coastal regions around the Indian Ocean and paper money didn't appear until the 11th Century in China. Nakamoto's invention will surely cease to exist one day, everything will due to entropy just like The Buddha came to understand, but due to its decentralized nature and with plans to deploy satellite nodes to orbit around the earth and other planets, Bitcoin transaction records could easily survive well after humanity has perished or moved on to other stars.

The five aggregates, monks, are anicca, impermanent; whatever is impermanent, that is dukkha, unsatisfactory; whatever is dukkha, that is without attaa, self. What is without self, that is not mine, that I am not, that is not my self. Thus should it be seen by perfect wisdom as it really is. Who sees by perfect wisdom, as it really is, his mind, not grasping, is detached from taints; he is liberated. The Buddha — SN 22.45

Unsatisfactoriness

Finally, Buddhism teaches that compounded things are always, in the end, unsatisfactory. There's always an initial excitement when buying a new car, TV, or pair of shoes, which is followed by getting used to it and eventually wanting more. The same can be said about fancy restaurants, trips to unknown countries and experiences alike. This tendency of humans to return to a relatively stable level of contentment despite major events or life changes has been thoroughly studied and has come to be known as the Hedonic Treadmill.

Due to its novel deflationary nature, people who use Bitcoin might now have a new incentive to save for the future instead of succumbing to desires that offer only short-term relief. In this way, the cryptocurrency might make our lives better by changing our habits and teaching us to spend on what we really need.

If the above ideas picked your brain or you found them entertaining, it would make my day to get some satoshis: BTC: 3EFGSB5DuH2fCjkpQ2qhtCRqwU1z7NQPh4