A recent article intrigued me with its assertion that it is better to understand Bitcoin as gambling than investment: “An asset that never pays a dividend but has a price that keeps rising is a bubble. An investor can believe Bitcoin is a bubble and rationally invest so long as she expects to sell out before the bubble pops. But that isn’t investing; that’s gambling, and it’s a zero-sum game.” Being largely unfamiliar with Bitcoin and cryptocurrencies, I wanted to think this matter through. I know a number of believers who are enthusiastic about Bitcoin and blockchain, not just as it pertains to personal finances but also as it may serve ministry purposes. What follows is an article these men wrote that makes a basic Christian case for Bitcoin and the blockchain technology behind it. It provides an alternate perspective for those of us just beginning to think this through. I hope you find it helpful.

***
As Christians, we are responsible before God to approach every area of our lives as an opportunity to glorify His name, advance His Kingdom, and steward His creation. It shouldn’t surprise us that many believers approach the financial and investment world with a healthy dose of skepticism. After all, Wall Street does very little to improve on its reputation as a place where all moral standards are eclipsed by pure greed.
So when we venture one step further, into the uncharted territories of cryptocurrencies and blockchain technology, the landscape appears even more extreme. Many believers see a culture of wild betting and extreme risk that seems at odds with scriptural calls to contentment, wisdom, and financial prudence. But shouldn’t we of all people ought to know not to judge by outward appearances? And if volatile prices and risk of loss are going to deter us, well we might as well just keep our money in a hole instead of investing at all (Matthew 25:14-30). But in Jesus’ parable it wasn’t the servant who played it safe in his stewardship who received a commendation.
Faith is a necessary part of everything the Christian undertakes. We shouldn’t expect it to be any different when it comes to our finances. Instead, the wise steward evaluates risk and reward with clear eyes. The wise steward seeks for opportunities to make better returns on his Master’s resources. So what does the world of Bitcoin, blockchain, cryptocurrency and what’s being called “web3 technology” have to offer the church? And how should Christians be engaging with this technological revolution?

Source: Fabric Ventures
Technological Revolution
In just over a decade, crypto has grown from a tiny fad for fringe computer nerds to a major force in today’s financial world. That’s because blockchain, the underlying technology that is used by cryptocurrencies, has the potential to prove one of the most profound innovations since the printing press.
Already we are seeing blockchains enable a huge variety of different communities to spring up, cooperate, and build something new without the gatekeepers or infrastructure that would have been essential in the past. Blockchain technology addresses some of the most urgent concerns with modern monetary policy and in that way promises to help protect the poor and most vulnerable by securing property rights, thwarting theft, minimizing inflation, and giving access to a monetary system that traditional banks or financial institutions would not. It is true, however, that many of these projects will turn out to be ill-fated moneymaking schemes, silly memes, or worse. But that is true in the business world and the world of the internet as well. The existence of bad actors does not mean that wise investments and godly creativity cannot occur in the same space, using the same technologies.
Though sin may find expression through tools, its source is the human heart. Human history proves again and again that the technologies that may be used to do evil can also be used for godly ends. As Christians, therefore, our approach to technology must not be fearful but hopeful, because we have been given the mandate to subdue and rule over the world for God’s glory (Genesis 1:26–28). New technologies, then, simply provide the industrious Christian with opportunities to see if new tools can be used for that sacred task.
We’ve Seen This Before
One of the best historical examples we have for this hopeful attitude is the technological explosion that God used to propel the theology of the Reformers throughout their world. The innovations of the printing press, distribution networks created by a financialized economy, and the creation of a public forum for the debate of ideas all allowed Martin Luther’s theological contentions to become more than the disgruntled opinions of a fringe academic.
Luther himself realized the opportunity and maximized his access to these new technologies. Although many predicted the problems that could arise from opening the flood gates of information to the general population, Luther knew that the same freedom afforded by these technologies could also be the means of amplifying the message of the Gospel. While chaos and trouble did indeed ensue, so did a movement that God used to purify and advance His Church.
Web3 & The Future of the Church
The Church stands at the beginning of what may prove to be a similar technological revolution as the web3 world continues to mature. Not only do cryptocurrencies provide sound, permissionless monetary systems able to be used by believers in repressive countries, they also provide an accessible and proven engine for financial creation that stands to benefit the Church and the individual believer.
Some critics call crypto a “casino” for “price speculation,” but such detractors may fail to recognize that their criticism can apply equally to the Christian holding mutual funds in their company 401(k) or that with the rise of inflation and the weakening of a dollar’s purchasing power, we are in a significantly different place than we were in times past. We are in the early days of crypto, and with the newness comes a greater level of volatility and speculation, yet also a greater level of opportunity. We are, of course, wise to exercise wisdom and caution. But if we are morally comfortable with the concept of putting funds at risk to grow their value over time, then we must be careful not to dismiss opportunities simply because they involve new risks.
The web3 space offers increasing ways to wisely and carefully invest, with decentralized finance staking rewards and interest-bearing custodial accounts incentivizing and rewarding patience. For every dog-themed meme coin there are now tens or hundreds of carefully created projects with actual real-world value.
To participate in the present web3 economy, Christians need not become discontented or greedy. They can walk in this new world the way we have always walked, by applying the same biblical wisdom and Spirit-filled guidance that lead us in every other area of their life, financial or otherwise.
Embracing the Inevitable
But perhaps the most compelling reason for Christians to be involved in this space is that the last ten years have proven that crypto is not likely to go away. And current events are showing it will play an increasing role in our future. Just as the Body of Christ has historically embraced the advent of new technologies and chosen to use them for good while wisely avoiding their dangers, so we are faced with that choice today.
Web3 as an investment vehicle or a mode of currency transfer is only the beginning. Already we are seeing decentralized organizations, backed by tokenized resources and supported by geographically scattered networks, show themselves as a real possibility. Non-fungible tokens (NFTs) will open new doors for Christian art and mutually supporting economies. Churches are recognizing that good stewardship will soon require them to integrate crypto assets into their financial plan.
Additionally, the blockchain minimizes costly transfer, banking, and credit card processing fees which currently take a bite out of almost all financial donations and transactions. It allows resources to move freely to aid Great Commission (Matthew 28:16-20) ministries, churches, and missionaries inside countries that suppress the church by restricting currency transfers. This allows for censorship-resistant and cost effective transfers of funding to Christians in situations where they need to be supported, but without attracting state attention. And we are certain there are far more possibilities that we have not yet considered and not yet imagined.
While crypto is in its early days, now is the time for Christians to carefully explore and experiment with the possibilities, for the advance of the gospel, for the good of others, and for the glory of God. We are convinced that Christians will all soon agree that crypto is not a curse to be feared, but a blessing to rejoice in, fully under the control of the One who has overcome the world.
Take heart, we’re going to make it.
Pr0ph3t writes about the intersection of Christianity and crypto on Twitter and Substack at Theofuturism.
Stephen McCaskell is a filmmaker and Web3 enthusiast. He purchased his first bitcoin in 2013, unfortunately he hadn’t yet learned the principle of hodl. He resides with his wife and four sons in Orlando, Florida.
Reagan Rose is the founder of Redeeming Productivity, a ministry which explores personal productivity and technology from a biblical worldview for the glory of God. He lives with his wife and two children in Detroit, Michigan.

Over the weekend I mentioned a sale at ChristianBook.com, but I wanted to bring it to your attention again since there are some really good deals to be had. The new ESV Chronological Bible is 43% off. You’ll also find the ESV Scripture Journal NT set marked down 84% (from $199.99 to $32.99), the leather ESV Study Bible at 52% off, the Story of Redemption Bible at $5.99, the Six-Volume ESV Reader’s Bible at 60% off, and so on. This is all part of their huge Bible Sale of the Season promotion which ends today. It’s worth clicking through to see all the deals. (There are also quite a few noteworthy deals on books and I decided to list those here.)

(Yesterday on the blog: A Day in the Life of an Ordinary Christian)
What Did You Plan To Be Hated For?
I appreciated this article by Rhys Laverty so much I asked if he wouldn’t mind unlocking it (removing the Substack paywall) so you could read it. They key point he makes is that Christians are no longer hated for grace, but for nature. Give it a read!
Halloween Revisited
This one is also super interesting. “So, what is the ‘true’ story of Halloween? It’s complicated, but the holiday we now know of as Halloween is a sort of fusion of older Christian themes with nineteenth century Romantic literary creations and then twentieth century civic associations and mass marketing. Halloween is a creative re-invention that gets turned into a Hollywood and Hershey’s sales extravaganza.”
Talking About Sex in a Pornographic Culture
“The pornographic is the water that we are all swimming in. Like the little fish in David Foster Wallace’s proverb, we find ourselves both completely surrounded and completely unaware.” This is true and well worth thinking about.
Celebrating 85 Years of Crossway’s Tracts Ministry
Crossway is celebrating 85 years of their tracts ministry, and I loved reading the ministry’s origin story. And can you believe they’ve distributed more than 1 billion tracts?
Should Women Teach Theology to Women?
“The title says it all. A small but not insignificant movement that has been gaining momentum over the past couple of years revolves around the notion that women shouldn’t teach other women theology. There is some breadth to this movement, and the goal will be to address the original view as well as some of the fruit that’s come from it.” Henry Anderson addresses it well.
We can always be friendly
Stephen keys in on one area where small churches may be able to offer something that becomes more difficult as churches grow larger.
Flashback: Shaken to Bear Fruit
The God who is sovereign over all things may lead us into times and contexts that are deeply painful. Yet we can be confident that our suffering is never arbitrary and never meaningless, for God always has a purpose in mind.

Trials teach us what we are; they dig up the soil, and let us see what we are made of. —C.H. Spurgeon

Grace and peace to you this morning.

Westminster Books has a deal on some excellent little books meant to help Christians through hard times.
(Yesterday on the blog: Why Domestic Abuse Is So Very Evil)
Cultural Christianity Gave Us the Golden Age of CCM
This is an interesting one from Samuel James: “Cultural Christianity creates a tension. As an evangelical, I confess the need for conversion, regeneration, and a purified local church membership. But there are many things worth preserving in society that do not meet this criteria. Cultural Christianity is at its best when it creates and preserves imprints of the gospel in society, even if those imprints are themselves insufficient for total absorption by the church. CCM is an artifact of cultural Christianity.”
Are We The Baddies?
“France has been rocked by the news that over 300,000 children were abused by clergy and lay people in the Catholic Church over a 70 year period. While acknowledging the horror of this news, we might be tempted to comfort ourselves by saying that it doesn’t affect us because we are neither French nor Catholic. Sadly, however, that won’t wash.” Eddie Arthur explains why.
Lessons from Kabul
“Those images from Kabul will be seared into the American consciousness, much like the fall of Saigon over four decades earlier. And there are doubtless many political lessons to be learned. Nevertheless, today I want to ask the question, what missionary lessons might we learn from Kabul?”
Wisdom and Principles of Complementarianism
“What seems to be surprisingly absent in many recent discussions about complementarianism in the home is a treatment of what the roles between husbands and wives in the marital relationship should look like in a biblically principled fashion without personal applications of those principles.” This is important…
Three Things Bible School Didn’t Teach Me
My pal Chopo Mwanza lists three things Bible school didn’t teach him.
Bitter Roots
Sylvia Schroeder: “Each of our stories would be, could be, maybe even should be different had people or situations not altered our path. In society, in families, and as my husband’s father knew, even in ministry we might be richer, own more, have risen higher.  We can choose to replay wrong and rewind hurt. But when I read God’s Word, I come back time and time again to this.”
The “Bad Math” of Derailing Spiritually
“C.S. Lewis famously said that when we read history, we find that those who did the most for the present world are also the ones who thought the most of the next. In other words, the more heavenly minded we are—the more our heads and hearts are fixed on Jesus, his kingdom, and his purposes—the more earthly good we will be. And the more happy and healthy and whole we will be as well.”
Flashback: The Servers and the Servicers in Every Church
Servers are people who tend to feel closest to God when they are serving others; servicers are people who tend to feel closest to God when they are in the worship service.

It is much easier to get a text of Scripture fastened in our memory than to get the lesson of the text wrought into our life! —J.R. Miller