SHOULD A CHRISTIAN INVEST IN CRYPTOCURRENCY AND THE LIKES
This write up is in a bid to respond to the tapcoin question and other "Get rich quick schemes" that people have asked about.
❔ The question of cryptocurrency investments is worthy of note today . So many people, both Christians and Non-Christians, have made and lost a great deal of money through cryptocurrency investments.
But risk is one thing that comes with any investment, right? So what makes cryptocurrency any different?
🪙 Cryptocurrency is a form of gambling. You put some money in, and get more money out. It's essentially moving money around.
Coins like Dodgecoin started as a mockery of Bitcoin. With time, people bought into it, and it became an investment. But what exactly are you investing in?
Proverbs 16:8
[8]Better is a little with righteousness, Than vast revenues without justice.
Proverbs 14:23
[23]In all labor there is profit, But idle chatter leads only to poverty.
Proverbs 12:24
[24]The hand of the diligent will rule, But the lazy man will be put to forced labor.
Ephesians 4:28
[28]Let him who stole steal no longer, but rather let him labor, working with his hands what is good, that he may have something to give him who has need.
📖 The Bible speaks of labour that brings profit. Where is the labour, when it comes to cryptocurrency? Where is the work of your hands? Where is the faithfulness that leads to riches ?
When you put money in, and get money out, where did all the extra money come from? It came from others who also put in money like you did, expecting to get more money. In other words, it's a game of chance.
🏹 It's like hunting around for where there's money. It's called mining. What are you mining? Not the ground; you're mining people's minds . If you push it, talk about it enough, people will put in money. Money borrowed or gotten from other sources.
🚜 And what does the money do? Is it buying something? Is it used for a trade? Is it used to buy and sell gold? Is this money invested in Russian wheat? If the answer is no, then it means that money is the commodity here. Sell money to get more money . The issue with this is that someone always loses. One day, you will hear that there has been a crash and people lost money. But money never disappears into nothing . It means that someone somewhere took all the money.
💰 Let's talk about the power of GREED!!
Proverbs 1:19
[19]So are the ways of everyone who is greedy for gain; It takes away the life of its owners.
The desire for more money ( _which the Bible refers to as filthy lucre, and unrighteous mammon_ ) has led people to do many foolish and unwise endeavors.
1 Timothy 6:9-10
[9]But those who desire to be rich fall into temptation and a snare, and into many foolish and harmful lusts which drown men in destruction and perdition.10 For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.
Habakkuk 2:9
[9]“Woe to him who covets evil gain for his house, That he may set his nest on high, That he may be delivered from the power of disaster!
⚖️ What is the motivation for money doubling? It is greed . Take money from 3 people and give it to one person, who goes around testifying that " It works ". What about the 3 people who have just joined? They will be fine. All they need to do is find their own people to add, and they'll get their own compensation. And the cycle goes on and on. The problem is, what happens when the cycle ends? Someone loses, right?
💎 The only fuel that schemes like these need to succeed is greed. At the end, there will be a crash. What about the mindset behind it? Many people put in money with the intention to remove their money once they "cash out". So from the onset, the plan is to run.