Because 21st-century technology did not exist at the time, there isn't a single sentence that mentions cryptocurrencies. However, because Jesus mentions money frequently in the New Testament, it's safe to conclude that his teachings apply to Bitcoin.
Mark of the Beast and Bitcoin
Some believe that Bitcoin will serve as the Mark of the Beast's currency. To dispel this myth, I'd want to express a few things.
- This is a literal interpretation (and literalism does not work well for Revelation). And he's giving a document written in the first century a very 21st-century interpretation.
- Bitcoin is adamant about not becoming a One World Government currency. By its very nature, Bitcoin is unaffected by censorship. This means I can use Bitcoin to: 1. Store it in any wallet I want. 2. Send it to any address I want without first seeking permission from a government agency (see banks). 3. I can send it whenever I want. You can send Bitcoin via a HAM Radio or a Bitcoin satellite connection if you don't have access to the internet.
Christianity and Defi
The Bible forbids usury, and the current fractional reserve banking system, which involves numerous loans of the same money, is plain usury. Debasement (inflation) is also theft, and banks do it by creating money out of thin air, expanding the money supply. The Ten Commandments made monetary debasement and any other form of it illegal.
Inflation is a heinous crime. It violates the eighth commandment by stealing or defrauding others, similar to a counterfeiter's conduct. Morally, monetary debasement is illegitimate, whether or not it is sanctioned by the government.
Bitcoin, in my opinion, is a more sound money than any other fiat currency. Christians should support Bitcoin because it is a form of honest money. Oh, Bitcoin is voluntary, whereas all fiat currencies (USD, EUR, GBP, etc.) derive their value from extortion: you either pay your taxes with this piece of paper... or you don't (we jail you and kill you if you refuse to comply). Citizens value those pieces of paper that purchase them "protection," similar to how a mafia organisation offers "protection" to its "customers," since they value not being thrown in jail or killed. As a result of these threats, there is a demand for those pieces of paper that would be worthless in a free market.
Some people ask how valuable Bitcoin is since it isn't backed by something tangible like gold or silver. The reason is speed: Bitcoin is both speedier and less expensive than traditional banking, particularly for overseas transfers. Because time is money, Bitcoin has a high value. An SMS or email communication is faster than a stamp-embedded envelope, and in some time-sensitive scenarios, significantly more beneficial. I'm sure Napoleon would have spent a fortune for a network of smartphones to communicate with his generals, rather than relying on a courier on a horse. Bitcoin is the digital equivalent of communicating with others via a smartphone rather than a horse-drawn carriage.
Going back to our main question - Is Cryptocurrency found in the Bible?
Although the Bible does not specifically reference bitcoin in all of its verses, there are chapters concerning investments and money that can help us answer our issue.
Ecclesiastes 11:1-2:
"Invest your money in foreign trade. And one of these days you will make a profit."
"Put your investments in several places - many places even - because you never know what kind of bad luck is going to have in this world."
These verses can be applied to speculative investments such as Bitcoin, Ethereum, Ripple, Basic Attention Token (BAT), EOS, Dash, and other cryptocurrencies. The bible, on the other hand, warns us about the source of all evil.
Timothy 6:10:
"For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many griefs."
In our daily lives and in our families, money is everything. Assassination, narcotics, prostitution, gambling, kidnapping, and other terrible activities can all be funded with money. If you've heard of the dark web (a subset of the deep web), you may hire someone to assassinate someone, buy guns and bombs, and even buy narcotics using bitcoin. Basically, you may spend your bitcoin on a variety of items for both entertainment and evil.
Another issue is being overly self-centered when it comes to cryptocurrency investment and collection.
Proverbs 28:22:
"A stingy man is eager to get rich and unaware that poverty awaits him."
Mark 8:36:
"What good is for main to gain the whole world, yet forfeit his soul?"
Most of us have heard that investing in bitcoins and other cryptocurrencies can make you a fortune. As a result, the masses have caught on - they want it all, they bet for it, they break the law to acquire it, and now they are coming to the place of greed to grow richer.
Please don't be greedy if you're planning to invest in the bitcoin market.
Finally, bitcoin is expected to be the last and most advanced currency that unites the world (which is correct, right?) Many biblical scholars believe that the existence of bitcoin and other cryptocurrencies may fulfil a prophesy in the Bible.
Revelations 13:16-17:
"And he causes all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: and that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name"
Bitcoin and other cryptocurrencies may one day govern the global financial system and transactions. Without this "Mark of the Beast," no one will be able to purchase or sell anything.
We have no idea if bitcoin or another cryptocurrency is the "Mark of the Beast" mentioned in the Bible. But I'm confident that in the not-too-distant future, this "Mark of the Beast" will be manifested through everyone's prosperity, wealth, and abundance.
Is Bitcoin Fulfilling a Biblical Prophecy?
In 2009, Satoshi Nakamoto created Bitcoin as a digital money to enable frictionless daily transactions without the bureaucracies of old systems. So far, it has delivered on that promise, allowing for quick, secure, and low-cost cross-border transactions. Bitcoin is a high-value asset class that has attracted mainstream investors and international corporations from around the world.
Despite the milestones, some Bible prophecy believers believe Bitcoin might be the'mark of the beast' mentioned in the New Testament's Book of Revelation. The mark of the beast, according to biblical proponents, is one of the tribulation years' attributes. Others claim that Bitcoin is well-positioned to fulfil the prophecy by promoting the creation of a one-world currency that the antiChrist can use to seize global economic power.
Not everyone, however, agrees with the aforementioned assertions. The following are some of the main reasons why Bitcoin should not be considered the Beast's Mark or a Biblical prophetic instrument.
Bitcoin is a Decentralized Currency
Bitcoin, according to biblical enthusiasts, will become a one-world currency used to acquire control of the global economy. Bitcoin clearly facilitates cross-border transactions, but it also confronts regulatory difficulties that will have a long-term influence on its usage and value. Furthermore, Bitcoin is a decentralised currency that is not influenced by political or institutional factors. As a result, there would be no way for any authority to regulate its use.
According to Christians, individuals who deny the beast's mark will be unable to buy or sell. The decentralisation of Bitcoin, on the other hand, makes such control impossible. Bitcoin will enable global transactions, but no one will ever be able to regulate its use.
Blockchain Technology
Bitcoin is based on the blockchain technology, which records transactions in a series of encrypted blocks. According to experts, the blockchain will grow in size as Bitcoin becomes more popular around the world. Currently, the blockchain is over a gigabit in size. In the future, the measurement could reach over a terabyte. As a result, experts contend that a worldwide currency would be too big. Bitcoin has scalability issues that could make it difficult to use as a global currency.
Rapid Price Growth
Some analysts have referred to Bitcoin as a bubble with no inherent worth, suggesting that its values are unsustainable. Furthermore, the price of Bitcoin does not follow the price of other assets such as gold or the US currency. Experts anticipate that Bitcoin will become extremely expensive due to dwindling supply and rising market demand. Traders will still be able to trade Bitcoin on exchanges such as bitcoin superstar, but at a considerably higher price. As a result, it would be impossible to use as a global currency.
The USD is still the World's Reserve Currency
Bitcoin and other virtual currencies are gaining popularity in diverse global economic environments. El Salvador recently declared Bitcoin legal tender, and more countries are expected to follow suit. Bitcoin has repeatedly destabilised the US dollar and will continue to do so in the future. However, the US dollar remains the world's reserve currency, with investors and citizens alike placing their trust in it. Because of its track record and relative stability, many around the world prefer the US dollar to cryptocurrencies. Even if Bitcoin becomes a widespread money, it will take several years and a lot of effort, possibly even miracles, to reverse those perceptions.
Many Bible predictions point to a scenario in which a single currency governs the whole global economy. And some Christians believe Bitcoin is the best currency to meet that demand. Bitcoin, on the other hand, is a decentralised currency with no centralised authority or corporation. Furthermore, it is a high-value asset with tremendous price appreciation potential. As a result, Bitcoin would be unable to function as the promised one-world currency.
Should a Christian Invest in Bitcoin?
What do you have to say about Bitcoin? It appears to be monopoly money. Is it true? Is it suitable for use? As a Christian, how should I think about it?
The meteoric growth of Bitcoin and other cryptocurrencies has been one of the biggest stories in financial markets in the last decade. Some people believe that cryptocurrency will change the world. Others believe it is a hoax.
To comprehend what is at risk, some basic economics is required. Joe Carter provides a great explanation of the intricacies, so I'll stick to high-level concepts.
There Are No Dividends Here
Keep in mind that the return on any investment is calculated by multiplying the dividend yield (the value your investment generates) by the capital gain (the change in price from what you paid).
If you buy a house, your dividend will be either the rental income (if you rent it out) or the value you get from having a place to live. A dividend is a portion of a company's profit that you receive if you invest in it. Your dividend is the (now minuscule) amount of interest your bank gives you if you put your money in a savings account.
There are no dividends in Bitcoin or other cryptocurrencies. They will never give you a place to stay, earn money, or even pay you interest. That is simply a fact, not a prediction. And unlike a stock, which may pay bigger dividends in the future and so justify a price increase, crypto will never pay dividends in the future. Future payouts are insufficient to warrant a bitcoin price increase.
Bitcoin and other cryptocurrencies produce no dividends. They will never provide a place to stay or earned income or even interest. That’s not a prediction; it’s just a fact.
Why do individuals invest in cryptocurrencies? Because they anticipate a price increase.
A bubble is a term used in finance to describe an investment like this. A bubble is an asset that never pays a dividend but has a rising price. An investor can reasonably invest in Bitcoin if she believes it is a bubble and intends to sell before it bursts. That, however, is not investing; it is gambling, and it is a zero-sum game.
Not an Asset. Maybe a Currency?
As a result, Bitcoin should be worthless as an asset. It might work as a currency, though. After all, there's no benefit to keeping money in your wallet. But you don't "purchase" money with the intention of keeping it forever. The purpose of keeping money is to eventually "sell it"—to use it to purchase something, such as a hot dog or living room furniture. The willingness of people to accept cash as a form of payment determines its value.
However, Bitcoin is a considerably less reliable payment method than other currencies. While there is a black-market demand for Bitcoin transactions due to their anonymity, the present volume of transactions cannot explain the price. Since 2012, the volume of Bitcoin transactions has dropped and hasn't increased at all since 2017. However, since then, the price has risen dramatically.
Bitcoin isn't as good as dollars or any other currency as a medium of exchange. There is no debate about that. The only reason individuals invest in Bitcoin is because they believe the price will climb. An investor may assume that transaction value will improve and that Bitcoin will one day become a legitimate currency, supporting the current price gain. I don’t think that belief is feasible.
As a currency, Bitcoin is not as good as dollars or any other currency.
All economists agree that a currency's price should remain steady. However, Bitcoin's price is quite variable. The crypto industry is aware of this, which is why stablecoins have arisen as a new type of cryptocurrency. Because a "currency" without a stable price will not last as a currency, stablecoins are virtual currencies with a fixed price.
The problem with Bitcoin is that it is not a stablecoin. The price is extremely volatile. In order for Bitcoin to become a real currency in the future, the price must stop increasing (become stable) one day, at which point it must have the same liquidity value as other currencies. To have equal liquidity value, Bitcoin would have to supplant global currencies such as the dollar and the euro. That is absurd, according to most economists.
Bitcoin is almost certainly a bubble, but that doesn't imply you should sell it short tomorrow. Bubbles can last for quite some time. "The market can remain irrational longer than you can be solvent," John Maynard Keynes famously stated, and Sir Isaac Newton famously declared regarding the South Sea bubble that he could "figure the motions of the heavenly stars, but not the stupidity of humanity."
Christian Response
What is a Christian's position on Bitcoin? So, what are your thoughts on gambling as an investment strategy? Investing in Bitcoin entails betting that you will be able to get out before the bubble collapses. You and other traders are playing a zero-sum game in which your profits are offset by their losses. Many people have made a lot of money by investing in Bitcoin. However, I believe it is preferable to invest your money elsewhere, even if this means forfeiting profits.
How should a Christian feel about Bitcoin? Well, how do you feel about gambling as an investment strategy?
You gain a return on real assets because you put money at risk and it is put to good use. When you buy a stock or a corporate bond, you're investing in a company that will use your money to expand, develop new products, hire workers, and, perhaps, serve the common good. A mortgage is a loan made by a bank to a homeowner who is borrowing money to purchase a home. The investor makes a profit, and the borrower also profits.
Christians should be thrilled to invest in ways that benefit the common good, whether it's aligning their values and investments with their retirement funds, supporting a car wash to create jobs, or any number of other ways. Investing both produces and benefits.
When faced with the option of investing in a bubble that facilitates illegal black-market activities or investing in actual assets that serve the common good, Christians should make a clear choice.
Finally,
while the Bible does not specifically reference bitcoin or cryptocurrencies, there are chapters that can be used as a guide to dealing with these new forms of money.
As previously said, there are advantages and disadvantages to participating in these digital currencies.
We have various perspectives, goals, and perceptions. But be cautious and anticipate the consequences.