Christian traders cryptocurrency
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Yes, this is really happening. And no, George Orwell is not the author of Bitcoin. No wonder there is so much media noise about Bitcoin speculation. Should Christians invest in Bitcoin? No doubt the astronomical price returns on Bitcoin over the past years is very tempting to investors everywhere.
Let me say that again. Does anybody else hear warning bells in that sentence, or is it just me? Well, King Solomon might have something to say about that. The desire to be rich. The desire to be rich fast. The desire to be rich easily. Greed is never a good reason to do anything. If you are considering buying into Bitcoin, first check your heart and be honest about what your motivation is for doing so. Is it greed? Besides, when anything goes up in value that far, that fast I can only think of tech stocks in and financial stocks in Also tulip bulbs in When will the Bitcoin bubble burst?
The dark side of Bitcoin Aside from the problems of greed and bubbles waiting to burst, there is a very real, very insidious side to Bitcoin that Christian investors should think about very carefully. It is becoming increasingly evident that ISIS and other terror groups are exploiting Bitcoin to fund their massive budgets and evil purposes.
And she is not the only one. God only knows how much of the hundreds of billions of dollars currently in Bitcoin is supporting the most blatantly evil organization on the face of the planet. Of course, terrorists can use any kind of currency to fund their atrocities.
But Bitcoin is designed with the specific purpose of being completely anonymous, untraceable and detached from any government or law enforcement protections. The black market loves Bitcoin. Bitcoin may be the closest thing to blood money the world has ever seen. Otherwise, all things being equal, investments profit because of the inherent growth in capital markets. We need to think carefully about what counts as investment. At its heart, investment is placing value in something else of value.
Or a teacher may invest in her students by staying after class to tutor. Or a volunteer might invest in his community by helping with litter collection at a local park. For all such examples the controlling idea is contributing something of value to something else possessing a value exceeding the thing contributed. The idea of investment imposes real moral constraints. It matters what exactly we put our resources toward.
The assisted living facility differs from the local restaurant, which differs from Disney, which differs from Penthouse magazine. Justifying investment in evil or corrupt entities is a sign of moral bankruptcy. We should invest only in what deserves investment. Typically we also consider duration a key determinant of investment.
Conventional wisdom among experienced financial advisors is to invest in worthwhile companies and allow valuations to appreciate gradually. Let money stay put, and over time it will weather market volatility. What are day trading and cryptocurrency? Day trading is a speculative trading practice in which a trader purchases a security — a financial instrument representing value — and sells it on the same day.
A trader buys anticipating some market eventuality that will create profit off the sale. Profit is dictated entirely by whether the eventuality occurs. It is an informed gamble that often requires taking a large position in the market in order to achieve profits warranting the risk. As such it is a practice of specialty investors and firms. Some algorithms are designed simply to counter other algorithms.
It is mistaken for several obvious reasons; not least its consequentialist presumption of the ends justifying the means, which makes even crass gambling commendable. The simple prospect of a return is not itself enough to justify allocation of capital.
To steward a resource, including capital, involves respecting the goods internal to that resource and the just allocation of that resource. Cryptocurrency emerged as a digital response to perceived weaknesses in modern monetary theory and as a strategy for securing transactions.
Cryptocurrencies, as the name suggests, are encrypted virtual currencies, and there are many different kinds. Because crypto is decentralized, no formal authority enforces trust or regulates transactions. Still, despite incredible growth, the large majority of consumers do not yet view it as the easiest or most reliable form of transaction. Ethics of investing in new digital currencies The anonymity of cryptocurrency has naturally attracted criminal laundering and ransomware enterprises.
Just how anonymous crypto transactions truly are is a matter of debate, as there is evidence that many leave a digital trail. Why must the transaction be secretive? Perhaps there are narrow parameters in which anonymity is warranted, but how can one be above reproach when anonymity becomes standard practice?
Does it not matter who my partner in exchange is to me, or they to me?
Are lamborghini accepts bitcoins so?
ESG INVESTING WIKIPEDIA
It is recommended that you make two paper copies of the private key. Christian Traders recommends either the Ledger Nano S, or the Trezor brand hardware wallet, both are available on Amazon. This decision, approved by the majority, is designed to facilitate a smooth transition from pre-sale to open market. Date of purchase refers to the date payment was received.
CTG Tokens do not represent fractional ownership in any company, organization, or entity. CTG — "Cryptocurrency for the Global Christian Community" At this time, Christian Traders is unaware of any cryptocurrency with an intentionally limited suppply 1 million tokens , designed to serve such a large target audience. According to Pew Research, there are currently 2. Once the CTG mass distribution is complete, open market trading will begin. CT Developers engineered a quiet entry on purpose.
However, I am staying away from it. These are my reasons, as a Christian, to stay away from cryptocurrency. This article is my opinion, protected by the first amendment, not official financial advice. I am not a financial advisor. Cryptocurrency does not actively do good. What we receive from God, including our financial resources, is a stewardship that we need to use for His glory 1 Corinthians ; 1 Peter ; Luke If one invests in the Christian mutual funds associated with the Eventide family of funds , he is investing in many companies that are not only attractive investments but also actively are doing good things.
He is helping to fund cures for cancer, building semiconductors, supporting cybersecurity, and funding many other useful and beneficial things. At best, if one buys and holds bitcoin or other crypto, what he has purchased just sits there. It does not do anyone any good. It does not discover a cure for any disease. It does not provide food like a farming company or make houses like a building manufacturer.
It does not produce anything useful. It is not inherently wrong to own an asset that just sits there and does nothing like gold, for example, which tends to underperform stocks in the long term for the very reason that gold, like crypto, does not produce anything , but if I have the option to invest in something that positively does good or something that does not do any good, my Christian ethics will lean toward investing in the assets that help make the world a better place.
Cryptocurrency is very frequently used to actively do evil. There is substantial evidence that a high percentage of cryptocurrency is used by evil people to do evil things, whether funding drug cartels, supporting human trafficking and pornography, supporting terrorist organizations, engaging in money laundering, assisting rogue regimes to evade sanctions, and the like.
People associated with the crypto industry claim that the percentage is much lower , and there is no reason to doubt that the percentage varies over time, but the claims of industry advocates do not appear to me to be as credible as are the studies supporting the high percentages. I do not want to be associated with all the evil funded and facilitated by crypto.
It is true, of course, that US dollars and other traditional currencies are used to do evil things as well, but not at nearly as high a percentage. Furthermore, cryptocurrency is uniquely designed to avoid legal regulations and facilitate illegal activity.
I am giving you my reasons for not owning it. Cryptocurrency lends itself toward speculation, not rational investment. Yes, it is supply and demand, but why? I can explain why a stock moves up if it has just had its treatment for colon cancer successfully pass clinical trials, or if its new tractor performs better with lower maintenance costs than the competition. Perhaps crypto itself will be gone entirely, replaced by something else. I can give you reasons why my Eventide mutual funds are likely to continue to appreciate in value, despite shorter-term volatility, over the next several decades.
Unless Christ comes back first, in thirty years people will still get sick and need better treatments. Companies will still be doing things to make the world a better place.
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