The intersection of religion and bitcoin — and the federal government’s misuse of cash — is on the middle of “God Bless Bitcoin,” a documentary by Christian couple Brian and Kelly Estes hoping viewers will rethink their relationship with cash and allow them to change into higher stewards of their God-given sources.
The documentary, releasing July 25, seeks to reply the query, “How will we repair our damaged cash?” by analyzing the ethical and ethical dimensions of present monetary programs and the broader implications of Bitcoin’s rise.
Narrated by Natalie Brunell, the undertaking highlights voices from each the monetary and non secular spheres, together with Bitcoin specialists like Anthony Pompliano, Cathie D. Wooden and Michael Saylor, in addition to non secular leaders corresponding to Dr. Darrell Bock of Dallas Theological Seminary and Fr. Robert Sirico.
“For 3,500 years, people used gold and silver as cash. In 1971, we shifted to fiat, and it is clear that this method would not work for everybody,” Brian Estes, CEO & CIO of Off the Chain Capital and longtime Bitcoin fanatic, advised The Christian Submit. “It steals from the poor and the center class, and it provides it to the wealthy. It is an unjust system, however we may decide out of that system.”
For the Esteses, dad and mom of two who each co-wrote and co-directed the movie, the journey to creating the documentary started with a urgent concern in regards to the state of the financial system and a perception within the potential of Bitcoin to function a extra ethical various.
“Over the previous decade, we have watched our cash lose its worth, making it more and more troublesome for individuals to maintain up with the rising value of dwelling,” Kelly Estes advised CP.
Having labored intently with people in generational poverty, she witnessed firsthand the detrimental results of the present fiat-based system.
“We knew one thing needed to change,” she mentioned.
“We needed to discover the ethical and ethical causes behind adopting Bitcoin, highlighting the way it can provide a extra steady and simply monetary system,” her husband added.
Expertise as a way to serve God higher
The documentary delves into how Bitcoin aligns with the ethical teachings of assorted faiths, together with Christianity, Judaism and Islam.
“Bitcoin is simply one other step within the technological improvement of how we are able to serve God higher,” declares one participant within the movie.
In keeping with filmmakers, monetary literacy and cash are big matters within the Bible, but they consider they’re woefully under-addressed in church buildings and faculties.
“Bitcoin as a know-how preserves our time and our power in a approach that no person can take from us,” Kelly Estes mentioned. “It provides us self-sovereignty over our cash in order that we are able to use it to have massive households, to procreate, to fill the earth with God’s servants, which is what I consider we’re meant to do.”
“It additionally permits us to handle the poor,” she added. “When we’ve got sufficient to handle ourselves, then we’re in a position to additionally assist others. It permits us to have that servant coronary heart that we’re referred to as to have as a result of it gives the means to take action.”
Bitcoin, she mentioned, can be “borderless” and may provide safety and autonomy in unsure occasions. It is a theme “God Bless Bitcoin” highlights by demonstrating the transformative potential of Bitcoin for the unbanked and people dwelling beneath oppressive regimes.
“Bitcoin gives monetary inclusion for billions who do not have entry to conventional banking. It permits them to take part within the international financial system, preserving their wealth and offering alternatives for a greater life,” she emphasised.
Difficult the established order
The husband-and-wife duo are conscious of the resistance to Bitcoin, notably from established monetary establishments and governmental our bodies. The know-how that underpins Bitcoin, which guarantees to generate income transfers quicker, cheaper and extra accessible, can be threatening to upend the standard banking system, Brian Estes believes.
“The most important opposition comes from banks, as Bitcoin threatens their conventional income streams,” he mentioned.
He drew parallels to the disruption attributable to Voice over Web Protocol (VOIP) know-how, which rendered long-distance cellphone prices out of date.
“Equally, Bitcoin permits us to maneuver cash virtually for free, difficult the $2 trillion business that banks presently dominate,” he mentioned.
The opposition to Bitcoin will not be confined to the banking sector alone. Political figures and lawmakers who obtain vital contributions from monetary establishments additionally play a vital function in slowing down Bitcoin’s adoption, Brian Estes asserts.
“Elizabeth Warren and different politicians obtain contributions from banks like JP Morgan and Financial institution of America,” he mentioned, including: “These monetary establishments use their affect to sway legislative opinions and decelerate the progress of applied sciences that threaten their earnings. It isn’t nearly coverage; it is about defending monetary pursuits.”
Critics of Bitcoin and different cryptocurrencies level out that they do not come with out their very own dangers.
Over time, Bitcoin’s value, like different investments, has skilled excessive volatility. Whereas Bitcoin’s value is presently listed at round $57,694 as of Friday morning, the value fell from as excessive as $64,000 in November 2021 to round $16,500 in December 2022. Bitcoin’s value took over a yr to return to the November 2021 worth. In current months, the Bitcoin value has fallen from round $69,000 in early June to its present worth of over $57,000.
There are different dangers related to Bitcoin. As The New York Times reported in 2021, some customers have been unable to entry their Bitcoin fortunes due to misplaced or forgotten keys. The newspaper cited the cryptocurrency information agency Chainalysis to state that round 20% of Bitcoin in 2021 seemed to be misplaced or stranded.
Moreover, cryptocurrency funds don’t include authorized protections. Storing cryptocurrency on-line would not include the identical protections as on-line banking as a result of they don’t seem to be government-insured like financial institution deposits, in keeping with Connecticut’s Department of Banking. The company notes that cryptocurrencies are to not be thought of foolproof investments.
A world perspective
“God Bless Bitcoin” additionally contends that the present monetary system is “intimately linked to the military-industrial advanced and the propagation of warfare.” Brian Estes cited Ezekial 45:9, which reads, partially: “Surrender your violence and oppression and do what’s simply and proper. Cease dispossessing my individuals, declares the Sovereign Lord.”
“What God’s saying is, ‘Cease stealing your individuals’s cash to go conduct unjust wars.’ And that is what we’re doing right this moment by means of inflation, by means of printing cash. We’re stealing cash out of your checking account, and you do not know it, after which we’re having these wars that kill individuals all around the world,” he mentioned. “If we’re on a Bitcoin normal, and you’ll’t print the cash, as a result of you possibly can’t print Bitcoin, then hastily you possibly can’t pay for the warfare, after which there is no extra warfare.”
Filmmakers hope that their movie will encourage viewers to query the established order and contemplate Bitcoin as a viable various. They need to, they mentioned, empower people with the information and instruments to take management of their monetary futures.
“We wish individuals to open their minds … to see that there’s one other system,” Kelly Estes mentioned. “We’re not suggesting that everybody go all in on Bitcoin, however quite that they contemplate diversifying their financial savings. Even placing a small quantity into Bitcoin can provide hope for a extra steady monetary future.”
“We hope viewers will see that they’ve a alternative. They’ll decide out of an unjust system that perpetuates inequality and embrace a extra simply and equitable various,” Brian added.
“God Bless Bitcoin” might be launched free globally on July 25. Govt producers embody Perianne Boring and John Salley. Michael Siewierski, Ruben Figureres, and Miguel Silvera are additionally connected as producers to the undertaking.
Leah M. Klett is a reporter for The Christian Submit. She will be reached at: leah.klett@christianpost.com