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Last time, we examined some popular Christian arguments against Cryptocurrency. Again, we know that Cryptocurrency can be complicated since it is so new. But in this episode, we will take a look at some popular Christian arguments FOR Cryptocurrency, and see if they hold any weight. 

We would like to repeat that we are not necessarily arguing FOR or AGAINST crypto in this episode, but merely examining popular arguments we found online and in the real world.

Before listening see:


What are the Christian Arguments For Cryptocurrency?

There is only a fixed number of Bitcoins that will ever exist. As more and more people use the coin, the value is expected to increase. This is governed by the law of supply and demand. If the supply is fixed and the demand grows, the price will increase. 

The US Dollar is constantly manipulated by the FED. When the Fed does its quantitative easing it essentially creates new money and injects it onto the balance sheets of the banks. This new money works its way into our economy, potentially (and currently) causing inflation. The laws of supply and demand are at play here.  If the supply is ever growing and the demand remains the same, the dollar weakens. The demand must grow faster than the supply of dollars for the USD to grow in value. 

Many in the Crypto/Bitcoin world view the Fed’s manipulation of money supply to be unethical and unfair. They have deep misgivings about the Feds ability to fulfill its mandate for a stable economy and stable inflation. It is believed by some in the crypto/bitcoin world, that they Fed has created a monetary system so complex that it will not have the resources needed to control it.  They further believe that the fed is a corrupt organization, simply looking out for their own interest and not that of the total economy/nation.

It is my opinion that the Fed believes that its interests and that of the economy/nation are connected. What’s good for one is good for the other. The Fed believes that it understands what is going on and has the resources to address future crises.  I’m not sure I buy all that the fed is saying. I share some of the concerns about the Fed. 

Crypto/Bitcoin can’t be controlled by the Government. If they wanted to regulate it, it would have some effect. The Government is not able to control the system. They can’t stop transactions. They can’t undo transactions. They can’t confiscate coins. They can’t see how much you have in your wallet (if held outside an exchange). They can’t easily identify the parties in a transaction (anonymized). 

If you wanted to support a missionary operating in a closed country, you could use Bitcoin/cryptos to get money to them quickly and anonymously.

Transactions are fast (completed within 30 mins). Banks clear checks or send money via ACH can take several days for the transaction to complete.  

The cost of transactions are very low. It can cost 2%-5% for a credit card transaction. ACH may cost about 1.5%. Crypto transactions cost a fraction of that. This is because there are not intermediary institutions (banks) taking their cut. Money goes from one person to another person without the bank getting involved. Money goes from my wallet to yours… that’s nearly free in the Crypto world.


But Wait… What about the end times?

Cryptos/Bitcoin sounds like moving us closer to a one world government. This sounds very much like “end times” kind of stuff. What is to stop Crypto/Bitcoin from being used as the mark of the beast? While views on the end times differ from church to church, many do share this misgiving. What is more likely to be use would be something like a CBDC (Central Bank Digital Currency). With that thought, Bitcoin/Cryptos may actually be an antidote to the problems of a CBDC.

What is a Central Bank Digital Currency (CBDC)?

Central Bank Digital Currency is essentially doing away with paper money and going only to a digital currency. We are already a long way towards this reality. The government is investigating the creation of its own digital currency. In this scenario, you would have super fast transactions with potentially lower fees. Sounds good right?  You would also have total government control of the monetary system. They can increase the money supply as often as they want (no change there – we currently live in that reality). They would be able to see every transaction, undo unwanted transactions (or transactions to “canceled” people or organizations), and know exactly how much money you have at any given moment. 

If christianity were ever to fall out of favor of those in control of the CBDC, they could easily shut the church down, confiscate its money and go after all of its donors. In my estimation, a CBDC is potentially more problematic than Cryptos. This sounds much more like the “mark of the beast.”


Should I Invest in Cryptocurrency/Bitcoin?

It depends. If you are drawn to it for the “speculative” nature of the asset class, I would discourage it. We ought not to gamble. If you believe in it as the future of money and want to start using it now, do not put in more than you are willing to lose.  There is risk in cryptos just like there is risk everywhere. Do your homework before getting involved. I would also caution against getting involved in new, unproven cryptos as they are more likely to experience loss than larger/older cryptos. 

Don’t disengage from the world. While the fact that cryptos don’t make a good or service (it’s not a business) is not reason enough to avoid it, we should seek to invest a good portion of our assets into companies which are making the world a better place. I do not advocate pulling all your money out of the stock markets to put in crypto because that capital is needed to help do good in the world and alleviate suffering. Do not invest in Crypto if you are nervous of online banking, are risk averse, or are unwilling to try new and unproven things. 

That being said, a Christian Steward would be foolish to dismiss Cryptocurrency now that they’ve become such an important part of our financial future.  

Our firm, Life Financial Group, does not advise the purchase or sale of any cryptos at this time. Regulations are progressing and at some point in the future, it would not surprise me that cryptos become a more common part of the investing landscape.  

Check out this Paper that dives deeper into the logistics of Bitcoin.


Stewardship Application

If you are planning on using Bitcoin or any other cryptocurrency, it would be wise to consult a seasoned Financial Advisor that can help you figure out if it is the right decision for you. Remember, Scripture encourages us to build wealth in a steady, sustainable way. It is important to have a proper understanding of what you are getting involved in, and how it can impact your portfolio over time. At the end of the day, use wisdom, not emotion, to drive your investment decisions.


Next Steps



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