Is Cryptocurrency evil?
Cryptocurrency is a form of digital currency that is used as an alternative to traditional currencies.
It is often referred to as the “future of money.” Cryptocurrency has been around for years, but it wasn’t until recently that its value exploded and more people became interested in it.
The world is changing.
We’re moving into a new realm of technological advancement, and there’s no denying that blockchain technology will play a significant role in the future.
But is cryptocurrency evil?
There are many people who believe it is, but others say it’s simply misunderstood.
The reality is that cryptocurrencies have been around for over 10 years now, so we can’t just brush them off as something new or trendy – they’ve long since become a part of our society and culture.
And honestly, if you’re asking yourself “is crypto currency evil?” then you probably need to keep reading to why it is ( or why it is not).
First lets go back to the roots…
How did Cryptocurrency come to be?
Cryptocurrency is a digital currency that uses encryption to secure transactions and control the creation of new units.
Bitcoin – the first Cryptocurrency – was first released in 2009, but since then thousands have sprung up all over the world either as alternatives or privacy coins.
The presumably pseudonymous developer Satoshi Nakamoto developed it as a peer-to-peer electronic cash system.
He built it on a simple idea of enabling online transactions without any middlemen, and it was the first digital currency to solve the double-spending problem without using a trusted third party.
The software is open-source and runs across multiple users’ machines which in turn can be tracked all at once.
Cryptocurrencies use cryptography for security purposes and are not controlled by anyone entity which means they cannot be hacked into nor can there ever be such thing as a cryptocurrency bank run where people withdraw their money because they think it’s going to crash.
Cryptocurrency started as an anonymous currency, but the more it grew and became popular there were worries that people could use these currencies for illegal purposes.
On 22 May 2010, Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida, for 10,000 BTC, an amount that would be over $500million if held till April 2021.
Since then cryptocurrencies are becoming widely accepted all over the world as an alternative form of money.
Is Cryptocurrency Really Evil?
Well, before I dive into the answer to this question – let me throw in this:
Is money evil?
Cryptocurrency is a digital currency.
This has made it popular in the world of online transactions, and trade for goods and services.
It can be used as an investment vehicle that you might put your money into expecting to see some kind of return on your investment, but this isn’t always possible with cryptocurrency because its value fluctuates constantly.
Cryptocurrencies also come at risk from cybercriminals who have been known to steal billions by hacking exchanges which store cryptocurrencies like Bitcoin or Ethereum.
Cryptocurrency is not evil. But rather it is the way it is being used by those who are using it.
This applies to everything in life.
Take Guns for example:
It used as an object used to keep peace, law and order by legit authorities. And also can used to cause catastrophe when handled by wrong hands – criminals.
Guns don’t kill people, it is the person who pulls the trigger that kills someone.
The same can be said for Cryptocurrency: it’s not evil but rather those using it are doing so in an unlawful way and this becomes a problem.
People use cryptocurrency to buy illegal drugs or hire hitmen because they know there will never be any evidence left behind by their transactions on the blockchain which makes them untraceable.
Cryptocurrencies should ONLY be used as a tool for good – not bad.
Some people might say that Cryptocurrency is not the way of life, but I believe that if you work hard for your money and put some faith into what you have then there will be a reward waiting for you at the end.
It’s just like any other form of currency – with cryptocurrency, the only difference is how easy it can be taken away from someone without them knowing about it or consenting to such action.
The same could happen with cash in one’s wallet and they would never know unless they were robbed at gunpoint; as opposed to having their Bitcoin stolen through cybercrime which has been reported before on an exchange platform (I won’t name names).
Some say that cryptocurrency, such as Bitcoin, helped to fuel some revolutionary ideas and movements like Occupy Wall Street – so it’s not all bad.
Is Cryptocurrency Evil?
Is bitcoin biblical? Is God happy with Bitcoin? What does Scripture say about Bitcoin?
Cryptocurrency is mostly considered evil by those who are not part of the digital currency ecosystem because they can’t understand it.
They don’t see how a decentralized currency could ever replace fiat money and fail to recognize that crypto may be more secure than what we have now in terms of fraud, hacking, etc.
The problem with cryptocurrency lies squarely within the unregulated market which opens up space for malicious players to take advantage without recourse or penalties when caught.
You will find certain arguments from both sides residing on either side of this debate; however, there are many questions still surrounding cryptocurrency:
Is Cryptocurrency Evil? What’s Your Opinion? Will Bitcoin Be Dead In 20 years? Etc.
The Bible says a lot about money, wealth and the love of riches.
What does God have to say on these topics as they relate to Bitcoin (or other altcoins)? What are some Biblical principles related to finances which might be applied today with cryptocurrencies like Ethereum and Ripple – including mining and trading them?
Perhaps you’ve heard people claim that bitcoin was invented by Satan himself.
That’s quite intriguing but how accurate is this statement?
Reflecting from a few Bible verses:
Dishonest money dwindles away, but whoever gathers money little by little makes it grow.
Proverbs 13:11
Whoever oppresses the poor for his own increase and whoever gives to the rich, both come to poverty.
Proverbs 22:16
Jesus says, “Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moth and rust do not destroy, and where thieves do not break in and steal.
Mathew 6:19-20,
The fact is this:
Cryptocurrency as a form of currency and value (also currency of the future) is not evil in any form.
It is the person utilizing such currency that makes it evil.
As long as a person does not utilize or partake in any transactions of fear, violence, crime (human trafficking), drugs (such as heroin and cocaine) then cryptocurrency can be utilized for good to help the those in need.
Example such good:
Was when Ethereum co-founder Vitalik Buterin donated $1 billion worth of meme coins to the India COVID relief fund sometime in May 2021.
A great deed and act to humanity!
Final Thoughts
The topic of cryptocurrency is heated and often debated.
Is it evil or Biblical?
That’s for you to decide.
But one thing’s certain – the future of currency will be digital, and we’ll all need a place in that world.
The reality is that we, as people of faith, are not all on the same page when it comes to cryptocurrencies.
We have different views and philosophies about money and how it should function in our lives.
Some see Bitcoin as a way for individuals to become rich without having traditional jobs; others believe this form of currency will lead to an inevitable global financial collapse.
For those who see Bitcoin as a divine invention, there is little disagreement that cryptocurrency is evil and should be avoided at all costs.
However, for those who believe the global economy needs to evolve in order to thrive again – cryptocurrencies are exciting new form of currency.
Which will lead us into this new world.
