DUO Guest Author @thelastdash with Balancing the Gap Between Religion and Crypto
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Talking about virtual currency and how they are being utilized are rarely spoken about among Christian leaders and across the religious society altogether. The Silence is so massive that no one feels brave enough to enlighten another Christian about his involvement in cryptocurrency. People involved in crypto Investment are secretly hiding themselves, so hence it does not consider them anti-religious. While the Bible contains hundreds of verses regarding prayer and religion, there are well over 2,000 verses written on wealth and money.
One of the internet creations which is still regarded as evil by one religious sect is cryptocurrency. Others claim that if it isn't evil, why the creator Satoshi Nakamoto hid his identity from the world, others call it the world religion which Satan prepared to use to take over the world by making the prophecy in the last book of the Bible to be realized. Others find it hard to believe in the validity of cryptocurrency because they cannot view it with their eyes or touch it with their hands. They acknowledge that they do not act after sight, but by faith, but their faith is defeated when they need it most.
I think how are they going to continue the prosperity teaching when one of the greatest sources of prosperity and financial independence is by religion teachers that failed in interpretation of the Scripture?
I can promise you, the way the scripture is being used out of context is so unbelievable that I question if the teachers have another Bible than the one I study daily. And in that scripture it is stated that during the last few days there will be lots of knowledge, many Christians do not consider the arrival of cryptocurrency as one of the now normal knowledge.
Cryptocurrency is actually a part of our world. Being a Bible student myself, I firmly believe that it's not so much that it is a great store of value, but freedom and convenience.
The possibility of cryptocurrency to bridge the economic limitations of "non-banking" and the under banks is encouraging. Millions of people are without a bank in Africa and other emerging continents. Bank fees, interest charges and overdraft fees are first accounts and transactional matters that many cannot afford. People who lack residential address or even ID cannot be eligible for bank accounts. Loans will never be given without credit cards. Money lenders charge as much as 300% interest and fees on loans. I once paid a 200% interest rate for a $250 loan within two years.
International money transfer is also expensive. When a person from a developing nation moves to another place to work and sends remittances to the homeland, he/she usually does it through cable transfer, but the cost is the steep one. When a person is not performing enough, then money loss becomes a devastating blow. Further, electronic transmission without a bank account is out of the question.
But crypto has a better option.
You send money immediately to a peer-to-peer open and transparent means with little fees. It cannot be filtered, censored or frozen. People can even get loans through smart contracts in a decentralized platform or have a savings account by using "Stablecoins", USDT. Its value is therefore stable. They can also receive a greater dividend for such Savings on Defi platforms, compared to less than one percent banks usually offer.
From a biblical perspective, I consider it as something that many believers can fall back on. When theologians and Christians first learn about the terminology of cryptocurrency and blockchain, we could first understand a portion of these things and how to profit from them, and use them to support the work of the Gospel.
The crypto market is volatile and therefore, I do not recommend anybody to opt for day trading. But just buy and hold in your own wallets, it is quite possible that the price goes up and you get in. It can do the reverse as well, but with patience and calm you can still regain it.
I believe this is a unique opportunity to build wealth in the long term, even if you've done nothing. But we need to learn how not to be consumed by greed and speculation or eaten by tweets of Elon Musk, but rather be "eaten by God in prayer". range 1-11
My approach towards cryptocurrency is proactive. If I get rich, I would like to think I was a guardian of the money and I would never be led by greed.
If Christians are to rule and dominate the world, wise investment is advocated, as we have seen, but it can be discouraged in an unfaithful, selfish, and greedy heart. Consider also the spirit of the day and how fast this technology will develop. Cryptocurrency is not evil, but let us be cautious with what we think about this system.
Finally, I would like us to remember the words of the Holy Spirit, which are inspired in 1 Timothy 6: 9–11:
** "Those who are determined to be rich, fall into temptation and weariness, and many foolish and harmful desires that lead men into ruin and destruction. For love of money is the root of all sorts of evil." In this manner, some of them swayed away from faith and corrupted by the world.".
Don't be enslaved by greed.
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