It is frequently claimed in blockchain discourse that immutability guarantees trust. This paper rigorously refutes that assertion. We define immutability as the cryptographic persistence of historical states in an append-only data structure and contrast it with trust, understood as a rational epistemic expectation under uncertainty. Employing predicate logic, automata-theoretic models, and epistemic game-theoretic analysis, we demonstrate that immutability neither entails nor implies correctness, fairness, or credibility. Through formal constructions and counterexamples--including predictive fraud schemes and the phenomenon of garbage permanence--we show that the belief conflates structural and epistemic domains. Immutability preserves all data equally, regardless of veracity. Therefore, the assertion that immutability guarantees trust collapses under the weight of formal scrutiny.