NAKAMOTO’S BITCOIN CONFRONTS OCCAM’S RAZOR This brings us to the English philosopher, William of Occam (1270 to 1347) and his famous principle, “Occam’s razor,” which can be expressed and applied in a litany of ways.

One description of this principle posits that the more exceptions that exist for a rule, system or device, the more fragile, or insubstantial that rule, system or device really is. For example, a contractor may claim that their firm has developed the most effective, powerful weapon in modern history. As they demonstrate the weapon, a number of exceptions emerge: It cannot be employed at night, it malfunctions in the rain, it requires extensive maintenance, it cannot be exposed to dust, etc. In light of the many exceptions and caveats to its performance, it does not live up to its billing: it’s actually not the most powerful weapon in modern history. In fact, such a weapon would be profoundly unimpressive.