Pastor says churches should save in bitcoin

1,153 Views | 21 Replies | Last: 16 days ago by BiochemAg97
Its Texas Aggies, dammit
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AgLiving06
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"Pastor"
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I'd encourage you not to judge without doing your homework, sir.
AgLiving06
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I did. He's not a pastor.
Its Texas Aggies, dammit
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AgLiving06 said:

I did. He's not a pastor.



First, you are wrong about that: https://www.lifegiverchurch.net/

Second, your ad hominem does not address the substance of his assertions.
AgLiving06
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I don't have to care for his assertions.

He's not a Pastor. The very link you shared shows no sermons after 2023 and his email (under a different last name) seems to be the only email on there (gmail account as is).

He doesn't pretend to have the qualifications to be a pastor. He's simply a guy who says he's a pastor and wants you to buy bitcoin.

Its Texas Aggies, dammit
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AgLiving06 said:

I don't have to care for his assertions.

He's not a Pastor. The very link you shared shows no sermons after 2023 and his email (under a different last name) seems to be the only email on there (gmail account as is).

He doesn't pretend to have the qualifications to be a pastor. He's simply a guy who says he's a pastor and wants you to buy bitcoin.




Whatever. Have a nice day.
Martin Q. Blank
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1. Bitcoin is sound money.

God commands us to use fair and just weights in our financial dealings. (Proverbs 16:11)

Unlike fiat, bitcoin is true and honest. Bitcoin is rules without rulers.

As churches, we should be leading the charge for sound money.

Martin Q. Blank
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2. Better Stewardship Than Debt or Fiat.

Churches will fund raise for years and take out debt with secular banks.

Stop!

Save in bitcoin. You'll reach your fundraising goals faster and without taking debt from and paying interest to God hating banks.

Martin Q. Blank
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3. Have a sovereign treasury.

In Canada, the government LITERALLY seized church buildings for noncompliance with covid mandates.

In the event of government tyranny, bitcoin can not be confiscated or frozen.

Hedge agaisnt government over reach.

Martin Q. Blank
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4. Tax Exemption.

Most churches are tax-exempt. Selling bitcoin to fund a project incurs 0 capital gains tax liability. The money gained by appreciation can all go to ministry.

This might be the most overlooked benefit. NO TAX BURDEN!
Martin Q. Blank
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5. Support Global Missions with Efficient Transfers.

Bitcoin enables fast, low-cost international payments, ideal for funding overseas missions, disaster relief, or aiding the poor in developing regions without intermediaries skimming fees.

Martin Q. Blank
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6. Hedge Against Inflation and Preserve Wealth.

Face it, governments will not stop printing money.

Bitcoin acts as a sound money alternative, allowing churches to safeguard their reserves for long-term ministry needs rather than watching savings erode.

Martin Q. Blank
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7. Accelerate Church Planting

I was part of a 4 year church planting program.

I was supported with $500 per month. Suppose instead that $500 was put into bitcoin for that 4 years. With a very conservative cagr of 38%, that would send me off with almost $50k!

10andBOUNCE
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Weird thread. Would not read again.
dermdoc
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10andBOUNCE said:

Weird thread. Would not read again.

Agree.
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Its Texas Aggies, dammit
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Jesus talked about money quite a bit. We are called to be good stewards of what we have been entrusted with. FWIW, I see a parallel between the magnitude of this innovation and the printing press. Think of what that technology did for the spread of the Gospel. IMHO the church ignoring potential world-changing technologies is short-sighted. Let's revisit in 5-10 years.
BiochemAg97
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Martin Q. Blank said:

4. Tax Exemption.

Most churches are tax-exempt. Selling bitcoin to fund a project incurs 0 capital gains tax liability. The money gained by appreciation can all go to ministry.

This might be the most overlooked benefit. NO TAX BURDEN!


If a church is tax exempt, why does it matter that bitcoin is a tax efficient investment?
Its Texas Aggies, dammit
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That's the weakest point he makes. The strongest point as I see it is that a system that allows some people to print money out of thin air that others have to work for is wrong, as it amounts to legalized theft.

Unequal weights and unequal measures are both alike an abomination to the LORD. Proverbs 20:10
AgPrognosticator
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Since BTC is untraceable, what happens when a church elder decides to help himself to the coffers?

How do you prevent outright theft of funds? Growing up, our church had two deacons count the cash given as a pair. Without accountability, cash tends to disappear. How is BTC any different?
Its Texas Aggies, dammit
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AgPrognosticator said:

Since BTC is untraceable, what happens when a church elder decides to help himself to the coffers?

How do you prevent outright theft of funds? Growing up, our church had two deacons count the cash given as a pair. Without accountability, cash tends to disappear. How is BTC any different?


There are plenty of systems that have been developed to prevent embezzlement or other misappropriation of funds. Bitcoin transactions on chain are pseudonymous and not anonymous.
BiochemAg97
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AgPrognosticator said:

Since BTC is untraceable, what happens when a church elder decides to help himself to the coffers?

How do you prevent outright theft of funds? Growing up, our church had two deacons count the cash given as a pair. Without accountability, cash tends to disappear. How is BTC any different?


Untracability of bitcoin is a myth. All transactions are recorded in the block chain ledger which is public (kinda how the whole thing works). The challenge is in identifying the owner of the wallet that receives the bitcoin.

Identifying theft should be easy. Oh, bitcoin keeps getting siphoned from the church's wallet. Oh, it all goes to this wallet.

It would also have to be done by someone with access to the church's wallet, presumably a limited number of people. Because it is a church and any donation in bitcoin would tie a wallet to an individual (for tax deduction purposes), there is a decent chance the thief is foolish enough to transfer to the same wallet as they made donations, and you have your answer.

A smarter thief could set up a second wallet that would be harder to connect, but people don't typically embezzle funds just to stash them, so the bitcoin is likely transferred or spent from the second wallet which could identify the individual.
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