Abstract In recent years the development of cryptocurrencies and wider implementations of blockchain technology have been valourized as digitally decentralized networks that dissipate control evenly among their peers. With Bitcoin, the first blockchain-based cryptocurrency, monetary policy is enacted via software built through an open source consensus model. This promotes a techno-decentralist ideology that promises to democratize societies by eradicating centralized points of control in economic systems. Contrastingly, this paper demonstrates how Bitcoin's production process operates through strict authoritative channels. The overall political framework for altering the Bitcoin code is described as senatorial governance: a (de)centralized model of bureaucratic parties who compete to change the monetary policy (codified rules) of the protocol. This model shows how Bitcoin is not an autonomous system but is assembled and maintained via human discretion.

中文翻译：

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比特币的参议院治理：制造（去）中心化货币

摘要 近年来，加密货币的发展和区块链技术的更广泛实施已被视为数字分散网络，可在其对等方之间平均分散控制权。比特币是第一个基于区块链的加密货币，货币政策是通过开源共识模型构建的软件制定的。这促进了一种技术分散主义意识形态，该意识形态承诺通过消除经济系统中的集中控制点来实现社会民主化。相比之下，本文展示了比特币的生产过程是如何通过严格的权威渠道运作的。改变比特币代码的整体政治框架被描述为参议院治理：官僚政党的（去）中心化模型，他们竞争改变协议的货币政策（编纂规则）。