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Is Bitcoin a religion? If not, it soon could be – Cointelegraph Magazine



Hass McCook is a revered Sydney-based civil engineer who has labored on among the most spectacular buildings on the planet, from Munich’s Allianz Enviornment to Singapore’s Marina Bay Sands.

He additionally considers Bitcoin to be his faith.

Higher identified on Twitter as Friar Hass, the 35-year-old had a spiritual epiphany about Bitcoin in 2017.

In a story harking back to the Bible’s The Trials of Job, McCook purchased Bitcoin three years earlier at $1,000 a coin and watched it lose 90% of its worth. He then misplaced a substantial proportion of the remaining sum when the Bitfinex change was hacked.

“That sent me down into the psychological and spiritual gutter,” he says. “And I came out of that with a religious experience.” He’s not being ironic.

“They always say in times of tragedy and trauma, people turn to God. That is sort of what happened with me. It’s tough to describe the experience, but basically, the best way I can describe it is I went to Bitcoin.”

As a member of the Bitcoin Mining Council and pleasant with MicroStrategy’s Michael Saylor, McCook views Bitcoin as a type of power, and as Einstein was keen on mentioning that when it comes all the way down to it, every part within the universe is power.


I actually WENT to Bitcoin, and now Bitcoin is my faith@dergigi

— Friar Hass (@FriarHass) July 11, 2021


“It was the culmination of all of my learning, experience and trauma — it was the realization that you and I, in long-term equilibrium, are just Satoshi,” he says. “Every atom in the universe through heat and energy transfer, one day will become literally Bitcoin.” He provides:

“It’s a very, very powerful thing, like we get buried into the ground, we go into the ground, become worm food, circle of life and eventually it ends up in the grid. You literally end up in Bitcoin.”

When this function was first commissioned, it was supposed to be a enjoyable exploration of the concept the tradition round Bitcoin is metaphorically a bit like a faith. However, it seems that some persons are beginning to view it as a literal faith — or no less than an ideology and even a cult that has the potential to show into one.

It sounds loopy — perhaps it is loopy — however there’s extra substance to the thought than you may count on.


Hass McCook

Bitcoin Holy Capitol

The spiritual echoes appeared fairly apparent to many observers of the current Bitcoin 2021 convention in Miami.

The New York Instances article was titled “Thousands descend on Miami to glorify Bitcoin” and quoted the conference middle’s proprietor Moishe Mana saying: “The more you fight religion, the more holy it becomes and the stronger the movement becomes,” he mentioned. 

Media outlet Paradox described how a “ten-thousand-plus legion of devoted believers” got here along with “followers of Bitcoin maximalism” to hearken to the excessive monks of the motion:

“Before thousands of wide-eyed attendees like Joel Olsteen preaching at a megachurch, prophets like Michael Saylor called Bitcoin the ‘apex’ of human achievement, while architects of the Holy Capitol blatantly acknowledged the asset as a full-fledged religious movement.”

And identical to followers of a faith, Bitcoiners imagine, with some justification, that they’re on a righteous mission to alter the world. Twitter’s Jack Dorsey advised the gang: “I don’t think there is anything more important in my lifetime to work on.”

Established 2012

The idea dates again to no less than late 2012 when Bitcointalk discussion board person Loopy-rabbit posted:

“I’m sure people have noticed how eerily similar to religion Bitcoin is becoming. The mythical founder, the email disciples, the followers… So why doesn’t someone just do it already and register the Church of Satoshi? There is certainly enough philosophy here.”

As it occurred, a satirical Bitcoin Church had commenced operations a month earlier, urging followers to “Praise Bitcoin” and “Honor the Blockchain.” A extra honest effort known as The Church of Bitcoin was established in August 2017 by Henry Romp, urging members to ”Distribute our scripture, the whitepaper written by Prophet Satoshi Nakamoto.”



The chief narrative officer at Qi Capital, Jonny Qi, tells Magazine that as a spiritually inclined particular person, he started to note parallels soon after he bought into crypto in 2017.

“You have this charismatic leader who disappeared, Satoshi, and then you have a white paper which acts as a holy paper, and if you kind of go against it, you’re basically not part of their religion anymore and they’re going to attack you. So all the basic fundamentals to build a religion are there.”


Darren Gleason Twitter

The commandments

Bloomberg’s Joe Weisenthal neatly laid the parallels out in an article earlier this yr, calling Bitcoin “the first true religion of the 21st century.”

He famous Bitcoin’s first block was known as the Genesis block and that Satoshi seems to have been self-sacrificing and benevolent, having departed this world earlier than he bought a single coin. He likened the white paper to the Bible, Hal Finney to a saint, Bitcoin Pizza Day and the Halving to spiritual holidays and the Bitcoin Money fork to a spiritual schism. Weisenthal additionally wryly famous that “orthodox” Bitcoiners adhere to a food plan of meat solely.

“Prophets, apostles, holidays, dietary customs, sacred texts, schisms, sayings and more. Bitcoin isn’t like a religion. This is just what a religion is.”


Bitcoin and religionSupply: The Ardour of the Believers, Hass McCook


Whereas the article was tongue in cheek, the metaphor runs surprisingly deep. Bitcoiners exit into the world and proselytize the tenets of the religion: Anti-inflationary onerous cash, decentralization and uncensorable transactions, which is able to assist good win in opposition to evil (bankers). They display their religion by hodling, collaborating in rituals comparable to “buying the dip” and telling nonbelievers (nocoiners) of the miracles by which the poor reworked pennies into Lambos in Bitcoin’s model of transubstantiation.

Many Bitcoiners imagine in an apocalyptic-style state of affairs when the present fiat-based monetary system lastly collapses. In a weblog, McCook described “Judgment Day” as a forthcoming interval: “Viewed by many Bitcoiners as a devastating economic event, the death of fiat.”

“Ultimately, this will lead to total civilizational collapse or the phenomenon of ‘hyperbitcoinization,’ effectively when all global trade is conducted in Bitcoin, and its market capitalization is in the dozens of trillions, if not hundreds.”

Cointelegraph Magazine contributor Elias Ahonen, a former seminarian, wrote a whole chapter in regards to the similarities in his ebook Blockland.

“I actually spent a semester at a Bible college before university,” he says. “It constantly blows me away how similar crypto and especially the Bitcoin movement is to a charismatic religion. I would dare to say that unless you’ve experienced it, you can’t understand how absurdly similar they are, to the point that they are indistinguishable.”

Bitcoin fixes every part

Bitcoin maximalists are the fundamentalists — the hardline lay preachers who preserve the flock from worshiping those that they imagine to be false idols, or blaspheming by buying shitcoins. McCook says he’s comfy with the comparability.

“Yes, because we do have fundamentals,” he says. “There are fundamental, ethical and moral principles to Bitcoin.” Whereas many Bitcoiners simply consider it as a enjoyable solution to earn a living and perhaps stick it to the banks, some maximalists view it extra like a righteous campaign. They imagine:

Bitcoin fixes this.

By which they imply, Bitcoin fixes every part.

“If you’re an actual environmentalist and if you don’t have Bitcoin, you’re not a serious environmentalist. You know, if you want to end poverty and you don’t hold Bitcoin, you’re not serious about ending poverty,” says McCook, including:


“Because the root cause of all of our problems is basically money printing and capital misallocation as a result of that. So, the only way the whales are going to be saved, or the trees are going to be saved, or the kids are going to be saved, is if we just stop the degeneracy.”


Qi has an altogether darker view of maximalism, which he believes is a stifling type of ethical superiority:

“Morality is the essence of every maximalism, a belief that somehow their system is morally superior to every other system. Bitcoin maximalists are more interested in moral superiority than sound money.”


Roger VerRoger Ver seeks immortality by cryonics.


The Bitcoin Jesus himself, Roger Ver — now the chief of the breakaway BCH sect — tells Magazine that Bitcoiners are actually the one group in crypto that behaves this manner.

“You see that mainly from the BTC camp,” he says. “They hate every other coin that’s not BTC. Whereas I see the Ethereum guys, they like lots of different coins, the Bitcoin Cash people like lots of different coins. Most coins are okay with other coins, but there just seems to be a pretty large contingent of people that think that BTC is the one and only true religion or one true and only cryptocurrency, and I think that’s foolish.”

Outline faith then

The Oxford Dictionary defines faith partially as “A pursuit or interest followed with great devotion.” Whereas Mirriam-Webster defines it as “a personal set or institutionalized system of religious attitudes, beliefs and practices” and “commitment or devotion to religious faith or observance.”

McCook factors to these two definitions and says religions don’t must be primarily based round a god, citing Buddhism and Taoism.

Torkel Brekke, a professor in spiritual research at Oslo Metropolitan College and the creator of Faithonomics: Faith and the Free Market, agrees that “it’s absolutely reasonable to say that you can have a religion without a strong concept of a divine being.”

Brekke says that what all religions do share is a robust social facet. “They feel they have a very strong sort of sense of being a community that is something special, different from other communities,” and followers carry out rituals comparable to prayer or singing to create robust feelings.



He notes that many established religions now conduct these gatherings and rituals on-line. Could Crypto Twitter be the place the place the Bitcoin trustworthy congregate to really feel the elation as the value rises and the crushing disappointment when it falls? (Technically talking, hodlers shouldn’t care about short-term value actions in the event that they’re not going to promote, however a value improve appears to validate their religion whereas a value plunge checks it.)

Professor Torkel Brekke

I describe the similarities between Bitcoin and faith to him, together with McCook and Qi’s views, anticipating him to shoot the thought down. However he says some features, particularly the “end of times” story “where everything is going to collapse in terms of the financial system and they are going to remain as a select group that saw the light” makes it appear as if the comparability may truly be believable.“

The more you talk about it now, makes me think that there’s definitely something to this,” he says.

No, the entire concept is foolish

One one who thinks the comparability is overblown is crypto fanatic, filmmaker and speaker Kirby Ferguson (This Is Not a Conspiracy, Every thing is a Remix). He says that anybody who worships Bitcoin or follows it religiously goes method too far.

“I think it’s super misguided,” he says. “It’s simply not a religion. There’s nothing metaphysical about it. There’s nothing supernatural about it. Satoshi Nakamoto is just some guy.”


“It just seems like a real limited religion, if you want to look at it that way. Like I just don’t see — aside from value outside of economics and finance and technology — I’m just not sure what it can really offer you. I would be surprised if many people think that way. And honestly, I’d be surprised if it grows. It seems like a joke to me.”

Decline of faith

One speculation, introduced up by a variety of interviewees, is that the ideology round Bitcoin could be performing as a type of substitute perception system as conventional religions lose affect. That is an concept gaining traction in relation to a vary of various ideologies and actions separate from Bitcoin.

The decline of organized faith has been a seismic transformation throughout Western cultures —  however particularly so within the historically God-fearing United States of America. Twenty years in the past, round 70% of Individuals belonged to a church, synagogue, or mosque. That fell to only 47% in 2020, in line with Gallup.

Over the identical interval, the variety of folks with no spiritual affiliation almost doubled, with the proportion increased amongst youthful age teams, together with 31% of Millennials and 33% of Era Z. These are additionally the age teams most occupied with Bitcoin.


Bourbonic plague


James M. Patterson, analysis fellow on the Middle for Faith, Tradition and Democracy, argued within the Nationwide Evaluation that younger persons are embracing different types of perception. He cited Ross Douthat’s ebook Dangerous Faith as proof that “Attempts to scrub religion from American public life have failed; alternative belief systems have rushed in to fill the void.” He prompt that crucial social justice actions are one manifestation.

McCook sums the idea up. “You have to believe in something, it doesn’t have to be God” and factors to the recognition of Jordan Peterson’s 12 Guidelines for Life, on the different finish of the political spectrum, for example the identical level. He provides:

“You need some compass in your life or you’re just going to be lost and destructive.”

Even QAnon, with its mysterious prophet Q and its Judgment Day-style prophecies of the conspiracy idea “The Storm,” could be a method of fulfilling folks’s must imagine. “People are sublimating, they’re redirecting, they’re channeling these kinds of impulses in other directions and I think QAnon definitely fits the bill there,” Ferguson says.

Faith is hardwired

Kirby Ferguson

Many scientists suppose the human mind is hardwired for faith — or no less than there’s a propensity for folks to imagine in one thing larger than themselves.

“I think it’s just really common, even among people who are like hardcore atheists, often they’ll have some other belief system that is really strong,” says Ferguson, including: “It certainly could be Bitcoin but in lots of cases its environmentalism, its progressivism, its libertarianism, its conservatism, whatever.”

What unites these substitute perception programs is that they’re making an attempt to make the world a higher place, whether or not by eliminating racism, sexism, saving the setting, or reforming an unfair and unjust monetary system.

The unlucky flip facet of perception programs with such devoted followers was famous by lawyer and civil liberties champion David French just lately:

“That really animates people and gives them a sense that what they’re doing, they’re on the right side of something really important and really good. But as with so many fundamental ‘isms’, it is so entirely intolerant of dissent and so entirely intolerant of disagreement it often ends up oppressing in the name of liberation.”

Ideologies or religions?

Other than QAnon, these actions are extra generally known as ideologies quite than religions. However, Ferguson says it’s generally onerous to inform the place one ends and the opposite begins.

“Any sort of belief system, whether you’re a libertarian or a progressive or whatever, it’s a bit like a religion. It’s a kind of philosophy, it influences your decisions, it molds your moral take on issues. There’s a kind of blurry boundary.”



“Bitcoin I do see as a libertarian style belief system. But clearly, it’s not an actual religion. It’s more of an ideology,” provides Ferguson. In the meantime, Brekke thinks that it might be much less clear-cut.

“It has ideological aspects to it, but it has a lot of other aspects that I would say are religious-like — they are cult-like. If I was pressed for an answer, I would say, yeah, this looks like a cult with religious dimensions. To say whether or not it is a real religion. I would need to wait another 50 years.”


Bitcoin Hermit


Qi believes the best way occasions are transpiring means Bitcoin, or one thing like it could actually turn into a formal faith sooner or later. “We have to see it from the aspect of the next 100 years: All spiritual ways will kind of die off and people will be more and more merged with the digital world — they’re losing basically the reality part of their life,” he says, including that “When you see it from that perspective, you need to have a religion which fits that reality. You need to have a digital religion.” Qi then concludes:

“All these elements are in place to build the first basically worldwide digital religion. I think it’s already there. That’s what I believe: It’s a digital religion. It’s gonna be huge. I don’t think anybody can stop it.”