FAQs
Frequently Asked Questions
Why does the Church need Bitcoin?
The church does not need Bitcoin. However, Bitcoin can be a tool for more effective ministry of the church. Like all new technologies, Christians must decide if and how they would wish to use them. Bitcoin is a monetary upgrade from the US Dollar and other global currencies. Bitcoin is also a technology that will help Christians bring about God’s Kin-dom on earth by facilitating more fair, just and inclusive local and global economies.
What did Jesus say about Bitcoin?
Nothing. But Jesus said a lot about money. Bitcoin allows individuals and faith communities the possibility to better utilize their resources to care for those in need, while simultaneously opting out of the current global economic system that is built on exploitation of human labor and unethical extraction of natural resources from developing economies.
Why Bitcoin only?
Bitcoin is the most mature cryptocurrency. Its design means that it is more fairly distributed than other cryptocurrencies, as well as more decentralized. It has the most accessible and secure network of all available options.
Is Bitcoin harming the environment?
No. Bitcoin and Bitcoin mining only use a fraction of 1% of all the electrical energy created on earth. The Bitcoin network is also decarbonizing faster than any other major industry on earth. In addition, the Bitcoin network’s ability to use electricity that would otherwise be wasted is allowing increased renewable energy infrastructure build-outs around the world.
How can my church use Bitcoin?
Your church’s use of Bitcoin will be as unique as your church’s ongoing ministries. Some things to consider: Are your church’s ministries local, regional or global? What level of technological fluency do you and your partners in ministry have? What level of privacy do your ministries require? Depending on your answers to these and other questions, Bitcoin may or may not be the right fit.
Isn’t Bitcoin used mostly by criminals?
No. Far more illegal activity happens with using US Dollars and other paper currencies. Bitcoin’s public ledger blockchain makes tracking funds far easier than existing monetary systems. Those engaging in criminal activity have more ways to hide in the traditional monetary system.