Cyprus Mail
BusinessCryptocurrenciesSponsored Content

Why people refer to Bitcoin as the new religion

bitcoin geccc2d9a7 640

Many people start reading about Bitcoin to learn about it and hear people referring to cryptocurrency as a religion. In fact, some promoters of Bitcoin claim that they are Friars, preachers, and more. There’s even a Church of Bitcoin that calls Satoshi Nakamoto, the Bitcoin creator, a prophet.

Austin, Texas, has various billboards with slogans resembling those “Jesus is real” sayings. Crypto is real, yes, but they’re oddly strange when shown along the Texas highways. As with other religions, Bitcoin has dietary restrictions one must follow.

The dirty secret about religion

Because Bitcoin has prophets, dietary laws, and evangelists, some wonder if it’s a religion. However, that’s the wrong question. Religious studies show that there’s no universal definition of religion. While most of them have similarities, they can’t necessarily be called religious examples.

Overall, it’s more important to think about the making of a religion and the process that goes into it. Is it a claim by certain people about behaviors and institutions or something that must be made law in a courtroom?

Critics and irrationality

Why might people think Bitcoin is a religion? Some people feel that the claim was made to push investors away from it. That way, they could buy more at lower prices and then sell when it gets high.

However, something can be one thing and another at the same time. Religion could be an investment. Think of all the Christian evangelists out there who make millions of dollars because people send money in as charity.

Still, religion is irrational, and the same applies to cryptocurrency, at least for some critics. Nothing is more contrary to religion than common sense and reason. From that standpoint, labeling Bitcoin a religion means that its investors don’t make rational choices and are fanatics.

Good and wholesome

Some Bitcoin proponents do lean to religion. Various articles and books use religious-style language to highlight and normalize the Bitcoin culture. For example, stacking hats sounds weird, and this is the process of routinely buying small amounts of Bitcoin.

People refer to that as a religious ritual, similar to tithing. Most churches practice tithing, where members make donations to support the events and clergy. Therefore, the comparison becomes familiar.

Overall, it could make Bitcoin seem wholesome and good for investors when viewed with the tithing idea.

Religious framework

Religion isn’t a native term; scholars create it for intellectual purposes, so they define it. If you compare Bitcoin to Christianity, you may notice things you never realized before.

For example, most religions are founded by a charismatic leader. That doesn’t come from tradition or a government office but from the relationship between the leader and the followers. Plus, leaders want to appear superhuman, so they are aloof.

No one really knows who Nakamoto is. The person (if it is an individual) is similar to a prophet because they are surrounded by mystery.

The intrigue of that can promote a higher economic value of Bitcoin. Many people invest in cryptocurrency because they feel that Nakamoto is a genius and even a slight rebel in the economic world.

Whether you feel that Bitcoin is a religion or never gave it much thought at all, you can still invest in it. Those who prefer to trade without an exchange are sure to appreciate BitIQ because the platform automates the trading process effortlessly.

Conclusion

 Most people don’t think that Bitcoin or cryptocurrency is a religion. However, there are a few similarities between the two. Still, there is no proof of it. Theologians, legal theorists, and sociologists have different definitions for the term, so it’s subjective of who you ask and what you already think.

However, the comparison does help people realize why Bitcoin is so attractive to everyone because it’s not just an economic phenomenon.

Follow the Cyprus Mail on Google News

Related Posts

Stacks (STX) and SUI climb aggressively as market pumps – Algotech (ALGT) presale presents unique profit opportunity

CM Guest Columnist

Limassol maritime firm facilitating sustainable shipping practices

Souzana Psara

Cyprus Business Now

Kyriacos Nicolaou

Transport Minister meets with new board of Cyprus Ports Authority

Kyriacos Nicolaou

EU lawmakers ratify political deal on artificial intelligence rules

Reuters News Service

France cuts EV subsidy for higher-income buyers

Reuters News Service