Categories
Uncategorized

What Is Bitcoin and Should Christians Invest?

While not making any attempt to influence another Christian’s conscience on this subject, I ask: Is it Christian to invest in the stock market? And I implore Christians who find a biblical reason not to, to produce a scripture backing their opinion. Many churches invest in the stock market. Maybe every large denomination does. I know Watchtower does.

Crypto investors are similar to stock market investors, as will be explained in this article. But first you can learn something about what Bitcoin is here: https://youtu.be/ggTfH8mv7Ls . Or you can research Bitcoin elsewhere.

The author of the YouTube article I posted above appears to not fully understand crypto currencies. So I posted the following comment under his article:

What Are Crypto Investors Investing In?

They are investing in projects that use a new type of technology called blockchain. It is safe method of transfer that eliminates the need for middlemen, like banks, in financial transactions. The technology has other uses also. For instance, it can also securely store and share medical records and educational transcripts.

The creator of Bitcoin invented blockchain technology. But blockchain technology is far bigger and more important than Bitcoin. Bitcoin is merely the asset that first proved blockchain technology has a useful purpose. That’s the most important aspect of Bitcoin-what it proved could work. Blockchain technology takes the internet’s usefulness far beyond where it was before that creation. All crypto projects use blockchain.

Therefore, people knowledgeable about blockchain invest in crypto projects that serve a useful purpose they hope will last, continuing to serve purposes like lending, selling artwork, paying interest on their investment, gaming, or making payments for the investors. Those investors can better be compared to investing in a technology like the internet itself with software programs built on it, than just investing in otherwise useless digital coins for speculative purposes.

We were never allowed to invest in the internet. At best we’ve only been allowed create projects on the internet. But what if you were allowed to invest in the whole internet when it was being created and before it took on mass adaption? That’s the closest thing I can compare crypto investors to.

Everyone who understands that participates. Because they know blockchain should eventually change the world, just as the actual internet did. You should research projects like Cardano, Ethereum, or Polka Dot. These projects either have or will have thousands of separate useful projects built on them. And there are other platforms like the ones I named. Crypto investors invest in these platforms and the projects built on them.

Best Time to Get In

While financially it could have been better to invest earlier, the best time could be right now. Why? Because blockchain technology as a useful tool is proven already (in the beginning it wasn’t). And its use is skyrocketing and will grow exponentially for several years. It’s also been proven that the projects that have gained very large adoption, like Bitcoin and Ethereum, increase in value exponentially over the years despite their volatility. That eventually might stop. But it hasn’t stopped yet. As those projects grew so has their return on investment.

Everyone that lost money in Bitcoin only lost it because they cashed in their Bitcoin at the wrong time. To date that’s the only way anyone could have lost money investing in Bitcoin or Ethereum. While other projects are not as big as those two there are a lot of other very good investments in crypto.

Do your research. It is possible to become a millionaire investing in crypto. Many have, and many will continue to do so. The ones that do pick the right projects and invest before the Bitcoin halving, and they take gains before the cycle ends and dips. Then they reinvest those gains back in later, sometime before the next Bitcoin halving. The whole crypto market cycle (bullish/bearish) is affected by the Bitcoin halving. That halving occurs about every 4 years.