Article
Culture
Digital
Economics
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6 min read

Do you believe in a coin called hope?

From fiat to faith: the rise of crypto evangelism
 An image show a braclet that has a bitcoin symbol beside a cross, a crescent and a Star of David.

“The bridge from chaos to hope.” This was the rather grandiose language used on social media platform X last summer by one prolific tweeter boasting 4.4 million followers. What they were describing, however, was not a religion or philosophy, nor a social movement or political party, nor a breakthrough in medical technology or a self-help technique. Rather, financier Michael Saylor was talking about the world's biggest cryptocurrency, bitcoin. 

Saylor’s profile on X declares that “#Bitcoin is hope.com”. That website contains, among other things, video clips of Saylor talking about how “bitcoin is the manifest destiny for the United States of America”, “bitcoin is economic immortality”, “bitcoin is forever money” and so forth. 

Saylor is in fact just one - albeit a particularly successful one (his net wealth stands at around $10 billion, according to Forbes) - of a number of vocal crypto advocates, trying to explain the huge, transformational impact on society that the cryptocurrency will supposedly have. Their precise arguments can vary, but are often along the following lines: the fiat money system is broken due to manipulation by governments and central banks - for instance through money printing - leaving control of the money supply in the hands of a small group of the rich, while the purchasing power of the general public is eroded; in contrast, bitcoin is incorruptible, not controlled by the government, available to everyone and finite in supply. 

A common thread running through some of the writings and talks of a number of these bitcoin enthusiasts is a quasi-religious language, used to convey bitcoin’s importance. 

Hope.com, for instance, includes a research paper on “The bitcoin reformation”. Its author writes: “It wasn’t until I studied the era around the Protestant Reformation that I felt I’d found a potential blueprint of sufficient scope” to describe what is happening with bitcoin. 

Particularly vocal crypto proponents are known as bitcoin evangelists, while some crypto investors will talk of fellow “bitcoin believers”. They can even drink their coffee from a ‘bitcoin salvation’ mug) (which depicts two winged cherubs holding the cryptocurrency). Non-believing sceptics are termed “no-coiners”. 

Early bitcoin adopter Roger Ver - who has been indicted on fraud and tax charges, which he says are false - is known by the nickname “bitcoin Jesus”. One non-profit decentralised community is named Bitcoin God. 

The precise mix of irony and sincerity being used in such examples is of course debatable and will vary. Nevertheless, among the most fervent crypto investors there appears to be an earnest belief in the transforming power of bitcoin. 

But there may be additional reasons why some of the most fervent proponents instinctively reach for such language. 

“There’s a link with forms of transhumanism - the idea that we’re in the middle of an upgrade of humanity.” 

Dr Roger Bretherton, a clinical psychologist and Seen & Unseen contributor, argues there are elements of tribalism and “the psychology of identity” in some of the most cultic aspects of the crypto world. He sees some similarities there with “old 60s cults of people believing UFOs were going to land in their backyard”, talking about crypto as a cult rather than crypto as a currency.

“People overlap their identity [with a particular movement]. They're saying ‘that's me, that's who I am,’” he said. 

“In periods of uncertainty we seek to find certainty in our groups. We're in an individualistic society.” 

Use of religious language also points to a belief that bitcoin/crypto/blockchain will bring about some form of a radical global change less on the scale of an incremental technological development, and more akin to a transformational religious experience. 

“There's an element of faith and an eschatology attached to crypto: 'this is the new thing that will change the world,'” said Bretherton. 

“There’s a link with forms of transhumanism - the idea that we’re in the middle of an upgrade of humanity - the kingdom of tech is coming. It feels like crypto becomes part of the same narrative. The key question is whether our future lies in technology and power, or in love.” 

For such fervent bitcoin proponents, attempts to rubbish their beliefs are often futile. Indeed, trying to do so may only serve to strengthen the believer’s resolve that they are right. 

“There's a cognitive dissonance,” said Bretherton. “The more ridicule you've had to go through, the more you've given up, the more social difficulty you've gone through - particularly if you've given up a career to pursue crypto - then the stronger your belief. It's the sunk cost fallacy.” 

So far, bitcoin believers have proved the doubters wrong. The price of the coin has gone from less than $20,000 in the wake of the collapse of crypto exchange FTX in late 2022 to around $118,000 at the time of writing. Saylor has turned MicroStrategy (now known as Strategy) - the company of which he was CEO in 2020 when he decided to use it to buy and hoard bitcoin - into a $110bn market cap firm that has spawned many copycats.  

But what importance bitcoin eventually assumes in society is still very much an open question. It has not yet become a form of payment for our morning coffee or for buying a house, and maybe it never will. Whether it can really function as “digital gold”, a hedge against inflation or “a bank in cyberspace” (as Saylor calls it) is debatable. But it has already made huge strides, soaring to a market price well above what most people would ever have imagined. In July, US Congress passed a landmark bill regulating stablecoins - a type of cryptocurrency pegged typically to the dollar - in what is being seen as a huge step forward for the industry. 

Nevertheless, it seems likely that some of the wilder claims made about bitcoin may not come to pass. What happens if true believers are left disappointed? 

Bretherton says such belief systems have to subtly change their “metanarrative” as and when they do not deliver on initial promises. 

“It can't make predictions that can be shown to be false,” he said. “If crypto doesn't deliver its promises in the future, it has to find another way that's softer but which lasts. So it either collapses or it finds a way to become more nuanced."  

Whatever importance bitcoin eventually assumes in society, our desire to put our faith in it - or in anything else - reveals something deeper about our human nature. 

In the Bible, the book of Ecclesiastes explores humankind’s attempts to find meaning in human lives without God. The main character tries career, pleasure and wealth. But ultimately, they find that these things are just “meaningless”, “vapour” or “chasing after the wind”. 

That search for meaning, for the eternal, is inbuilt in our character. As the book’s author puts it: God has “set eternity in the human heart”.  

We are not designed merely to be born, to live and then to die. Instead, each one of us has been created with an inherent desire to know if there is something eternal out there, and to find out whether we can be part of that story. Crypto cannot offer us that salvation. The only thing or person who can, the author of Ecclesiastes would argue, is the One who put that desire in us in the first place.  

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Review
Art
Character
Culture
Faith
5 min read

Inside the minds of Siena’s finest artists

To exhibit art from a golden age, it first needs to survive.

Susan is a writer specialising in visual arts and contributes to Art Quarterly, The Tablet, Church Times and Discover Britain.

A split wooden sculpted head stands in an exhibition.
Lando di Pietro's carving from 1388.

Curating an art exhibition about the emergence of recognisably life like painting and sculpture, pre-supposes just one thing. That the once innovative and venerated art works survive to today, even if shorn of their original, usually religious, settings. Those that made it to the National Gallery’s Siena: The Rise of Painting 1300-1350 have some tales to tell. That give us insight into their creators and their beliefs. 

A cracked skull is sadly not an unusual find in the aftermath of an explosion. But the head discovered in the rubble of a Siena church following a World War Two Allied bombing raid in 1944 was remarkable. Almost life-sized, made of walnut and depicting Christ’s face, the carving had originally been part of the figure on a crucifix, but now severed from its body, the head was almost sheered in two. From this destruction spilled more secrets.  

Hidden inside the skull, its creator Lando di Pietro inserted parchment with personal prayers. What little documentation we have about 14th century artists is usually public: contracts, lawsuits and wills, but these two scraps of writing represented Pietro’s personal faith. He dramatically asserted himself as the creator of the work: 

“Lord God made it possible for Lando di Pietro of Siena to sculpt this cross from wood in the likeness of the true Jesus Christ to recall for people the Passion of Jesus Christ…have mercy on all generations”  

And Lando also prayed for good health and for the world. 

The fragment of a crucifix dating from 1338, is the only surviving example of wooden sculpture by this renowned goldsmith and architect, one of the Trecento creators on display at Siena: The Rise of Painting 1300-1350. In the hothouse of creativity that was the Tuscan town in the first half of the 14th century, goldsmiths collaborated with sculptors and painters, and the images they collectively created inspired manuscript illuminators, whose works, passing through many hands, went on to inspire other artists. 

Siena’s position on the Via Francigena, the major pilgrim route between northern Europe and Rome, ensured the city’s artistic innovations spread to Britain and eastern Europe and beyond. And Sienese painter Simone Martini’s patronage by cardinals and members of the Papal curia in the Pope’s court at Avignon, showcased the techniques, materials and styles of Siena to influential church leaders and royal courts throughout the Catholic communion. Interconnected through marriage and diplomacy, the courts of northern Europe would have diffused Sienese style through the exchange of gifts, and hosting and commissioning peripatetic artists from the city. 

The portability of devotional objects also spread the developments of Siena’s more naturalistic and emotional style, way beyond the city’s boundaries. 

Decorative crosiers would have been in motion during processions, and the sculptural decoration contained in their curved tops were viewed in the round. On the Master of San Galgano Crosier, about 1315-20, the cast figure of the saint kneels in front of his makeshift cross. St Galgano’s praying hands and bent elbows form a perfect line with the sheathed sword, that the twelfth century knight miraculously drove into a rock. The Abbey of San Galgano grew up near the site of the miracle, and the intricately decorated reliquary containing the saint’s head is faithfully reproduced in enamel at the top of the staff.    

Simone Martini’s Orsini Polyptych, dating from around 1310, can be understood as a freestanding, miniature, double sided altarpiece, depicting a silent Annunciation on one side, and a tumultuous Passion cycle on the other. The polyptych’s probable patron, Cardinal Napoleone Orsini is portrayed at the foot of the cross in the Deposition. Fully closed for transportation, the eight panels resemble a block of marble encased in gold. With the outer wings closed, the marble ‘covers’ become a setting for an Annunciation diptych. Fully opened, the panels tell the Passion, story Christ’s torture and death.  

Originally the panels were likely hinged together, so the work could fold like a concertina. After a period at the Papal curio in Avignon, the panels were separated centuries ago. Seeing the panels individually lost the tangibility of the object’s manipulation of space, through folding and portability. Seeing them united in the National Gallery for the first time in centuries is incredibly moving. 

An early fifteenth century French prayer book The Belles Heures of Jean de France, Duc de Berry, has a Lamentation scene sharing many motifs with the Orsini Polyptych, including the woman tearing at her hair, Saint John the Evangelist covering his eyes, and the back view of Mary Magdalene crouching over Christ’s feet. Within a hundred years, the Sienese emphasis on human emotion and portraying figures in recognisably three-dimensional space, had rippled out to other art forms and other countries.  

One of Britain’s medieval treasures, the Wilton Diptych, commissioned by Richard II about a decade earlier than Berry book of hours, also reveals the influence of Siena: from the king’s animated pose kneeling before the Virgin and Child, to the egg tempera paint, and gold leaf sgraffito, where the surface is scratched away to depict sumptuous textiles. 

In an exhibition full of showstoppers, the unification of the back predella (altarpiece base) of Duccio’s Maestra altarpiece is a standout moment. Installed in Siena Cathedral in 1311, Maestra has the oldest surviving narrative predella. On the front, depicting the Virgin Mary at the centre of a heavenly court, the painter had included his signature and a prayer. 

“Holy Mother of God, bring peace to Siena, and bring life to Duccio who painted you like this.”  

While the front image of the heavenly court would have been viewed from afar, the congregation could move close to the back predella and view a sequence of panels on Christ’s teaching and miracles as they prayed.  

In 1771 the Maestra was sawn in half, and the predella dismantled. Its individual scenes were dismantled and displayed, and then sold, separately. The eight surviving panels are reunited in the National Gallery for the first time in 250 years. 

The Black Death struck Siena in 1348, killing up to half its population, including many artists. Over centuries, plague, war, differences of religious doctrine, and fashion for Grand Tour mementoes, saw objects dismembered and repurposed. Yet the emotional resonance of maternal love seen in Ambrogio Lorenzetti’s Madonna del Latte, c.1325 or the humanising family drama of Simone’s last surviving work, Christ Discovered in the Temple, 1342, could never be undone. Art grounded in human emotions and human perceptions of the spaces around us, was here to stay, 

The wartime work of the Monuments, Fine Arts, and Archives (MFAA) unit in preserving treasures such as the Head of Christ found in the ruins of the Basilica di San Bernadino all’Osservanza, was dramatised in George Clooney’s 2014 film Monuments Men. Creativity’s boundless resistance to the forces of destruction will always be box office.  

  

Siena: The Rise of Painting 1300 -1350 National Gallery, until 22 June. 

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