Why Bitcoin is my currency of faith – Bitcoin Magazine

by James · April 2, 2023

Join us at Bitcoin 2023, the world's largest Bitcoin conference, 18-20 May! Experience three days in Miami Beach with the brightest minds in Bitcoin.

This is an opinion editorial by Phil Snyder, an educator who teaches blockchain technology, Bitcoin and all things media at the University of Houston.

Who hasn’t had at least a little chuckle when they first read a sign behind a checkout counter, emblazoned with the timeless wit and wisdom, “In God We Trust; Everyone else pays cash”? Maybe soon, around the world, wherever merchants accept bitcoin, we’ll start seeing “In God We Trust; Everyone else pays Bitcoin.”

You should appreciate the irony that the fiat dollar we’ve lost faith in still proclaims its own religious beliefs in print on every little bit of the Federal Reserve’s funny paper and metal slug tokens. We are also expected to believe that this scam currency is “backed by the full faith and credit of the United States Government,” as stated on the FDIC’s and NCUA’s official nameplates, along with their promise to insure deposits up to $250,000. Not surprisingly, a derivative of this the declaration is seen here and there on the web, as “In Bitcoin We Trust” memes. Also, ironically, we rely on the “trustless” protocol of Bitcoin.

The phrase “In God we trust” has a long history of use in America, with its official origins found in the Civil War to boost morale and proclaim the Union’s dependence on the God of the Bible – a claim the South also shared! It finally became the official motto of the United States in 1955 when a joint resolution was passed by the 84th Congress and signed by President Eisenhower. For Christians, faith and trust are closely linked and almost synonymous in some contexts. We trust that God will save us from our spiritually dead state through faith in Christ’s sacrifice, which he gives to our inner being by his grace.

Bitcoiners yearn for a future of world peace, prosperity and brotherhood – the sooner the better. But with or without Bitcoin, it is not going to happen until what Christians call the “Millennium Kingdom”, which is the return of Christ to rule and reign over the universe he created here on earth. And as the signs of the times seem to indicate, we probably don’t have much longer to wait.

I see Bitcoin as one of the signs of the times. Even an earthly kingdom ruled by God would likely require some form of monetary system, and in my opinion Bitcoin fills that job perfectly. Probably the closest example we have of what this kingdom will look like is in the biblical story of King David. The Bible describes Jesus as both literal and figurative “son of David”, meaning that he is the final heir to the Davidic dynasty. The entire ancient world came under David’s rule as the majestic and victorious, yet humble, king of Israel. This is a foreshadowing of Christ’s millennial reign.

Solomon, as direct heir to David’s throne, is said to have “made silver and gold as common as stones in Jerusalem…” This points to a complete transformation of the economic system of the time and prophesies the future, as Bitcoin renders all other forms of money obsolete . Furthermore, we can point to the history of the early church, when “…there were no needy people among them. For from time to time those who owned land or houses sold them, brought the money from the sale and laid it at the feet of the apostles, and they were distributed to all who had need.”

I believe that many early adopters of Bitcoin, whose fortunes will exceed even the Rothschilds and Rockefellers, will be moved by the Holy Spirit to donate huge sums of bitcoin to those in need around the world, thus realizing another biblical description: “All the believers were one in heart and mind. No one claimed any of their possessions as their own, but they shared all they had.”

This is not like modern liberation theology or a religious form of communism, but a righteous justice that no modern, awake socialism can ever begin to match, because it is ordained by God Himself.

Bitcoiners must learn patience, which comes with developing a short-term preference that creates and complements virtues such as thrift, solid work ethic, integrity, faithfulness, and love for God and our neighbors. The Bible has a lot to say about these too.

A poem about time and time preference – presumably written by King Solomon – goes like this:

“There is a time for everything,

and a time for every activity under heaven:

a time to be born and a time to die,

a time to plant and a time to uproot,

a time to kill and a time to heal,

a time to tear down and a time to build,

a time to cry and a time to laugh,

a time to mourn and a time to dance,

a time to scatter stones and a time to gather them,

a time to embrace and a time to refrain from embracing,

a time to seek and a time to give up,

a time to keep and a time to throw away,

a time to tear down and a time to mend,

a time to be silent and a time to speak,

a time to love and a time to hate,

a time for war and a time for peace.”

We might aptly add: “A time to HODL and a time to give away.”

“For what does it profit a man if he gains the whole world and loses his own soul?”

This is a guest post by Phil Snyder. Opinions expressed are entirely their own and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.

Why Bitcoin is my currency of faith – Bitcoin Magazine

You may also like...

Leave a Reply Cancel reply

Recent Posts

Categories

Why Bitcoin is my currency of faith – Bitcoin Magazine

You may also like...

Move Fast and Do (Break?) Things: IP-Related NFT Law Trends | Manatt, Phelps & Phillips, LLP

Crypto Bank Silvergate Will Shut Down Due to Financial Peril

Crypto regulation looms, but bitcoin rises. Here’s why

Leave a Reply Cancel reply

Tags

Recent Posts

Categories