Article
Culture
Digital
Economics
Psychology
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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Article
Belief
Church and state
Comment
Politics
6 min read

Danny Kruger, Christian values, and the dangers of thin religion

Thick or thin? Christianity’s role in Britain’s cultural crossroad

Graham is the Director of the Centre for Cultural Witness and a former Bishop of Kensington.

A backbench MP stands in an almost empty chamber and speaks
Danny Kruger addressing Parliament.
Parliament TV.

In case you hadn’t noticed, a speech given to an audience of about seven people in a sparse House of Commons recently went viral. Danny Kruger’s recent call for a Christian restoration in the UK has generated a lot of attention. 

I've noticed two distinct responses in recent days. On one side, there are three (or more) cheers for Danny. He has been interviewed at Christian festivals, lauded for a brave, deeply considered and soulful appeal to the Christian heritage of the nation. He has been thinking deeply about this for some time as demonstrated in his book Covenant, sometimes seen as a manifesto for a renewed Conservatism based around the claims of family, community and nation, and summarised in this Seen & Unseen article. As one of the most prominent voices against the recent bills to permit assisted dying and the termination of full-term embryos, he is clearly reeling from the impact of these devastating recent votes in the Commons that, more than anything else, seem to demonstrate how far the nation has slipped its Christian moorings.  

Yet it’s not hard to stumble across another reaction. A former Bishop of Oxford called Kruger’s claim that the UK was a Christian nation anachronistic and counter-productive. Others have pointed out that many Jews, Muslims or hardened atheists would not be delighted to be told that ‘it is your church and you are its member.’ Others question whether there can be such a thing as a 'Christian nation'.

Some have picked up on a darker side to all this. Recent riots outside hostels for immigrants in Rotherham and Norwich showed protesters carrying flags of St George, even brandishing a wooden cross. Stephen Yaxley-Lennon, aka Tommy Robinson, and Nigel Farage have recently been speaking much more openly about the ‘Christian values’ on which Britain is founded, and many on the extreme right seem to have latched onto Christianity as at the heart of what they see as a cultural, civilisational war. Kruger’s talk of the gap left by Christianity’s demise being filled by Islam and, what worries him more, a kind of ‘wokeism’ that blends ‘ancient paganism, Christian heresies and the cult of modernism’, sets up a stark opposition. He goes on: “That religion, unlike Islam, must simply be destroyed, at least as a public doctrine. It must be banished from public life.” Does that language stray a bit too close to the aggressive language of more extreme voices on the right?  

Now I have some sympathy with this. I have written before of how I also fear the pagan gods are making a return. Like Danny Kruger, I too believe the recent votes in the House of Commons are a dark and dangerous turn toward death not life. Yet I can’t shake a nervous feeling that, without some careful thought, we might be summoning up shades we might not be able to control.  

The signs – and the solution - lie in the past. For centuries, Christianity, like all other religions, has been used as a weapon in civilisational wars. It happened in the Crusades of the eleventh to thirteenth centuries. It happened in the Balkan wars involving Serbia, Croatia and Bosnia in the 1990s and 2000. It happened in the ‘Troubles’ in Northern Ireland, where your neighbour being Protestant or Catholic was a reason to kill them.  

Theologians and sociologists sometimes talk of ‘thick’ and ‘thin’ religion. ‘Thin’ religion is simply a badge of identity. It often blends religion, politics and nationalism and serves as a motivation to unite people around a cause, such as Hindu nationalism, Muslim victimhood, or Christian supremacy. It is religion seen purely as a label, a badge of tribal identity over against other religious identities, however deeply felt. It is often nostalgic, ranged against enemies who are determined to destroy it, denigrating those who are not part of the religion as less deserving of value. It sees the Christian god as one of many gods – our god – which we must fight for against other gods, rather than, as Christian theology has always taught, the one true God who sits above all other gods, the God of the whole earth. It is paradoxically a manifestation of the kind of the kind of culture that Danny Kruger hates: “a return to the pagan belief that your value is determined by your sex, race or tribe.” Tommy Robinson’s faith seems as good an example of this as any. This is ‘thin’ religion.

I propose a simple test. If someone advocates Christian values and regularly goes to church, then they have a legitimate voice. 

‘Thick’ religion, however, is different. It is not just a badge of identity, but entails a set of distinct beliefs and practises. It means submitting yourself to the disciplines of the faith. In the Christian context, it a belief in God as Father, Son and Holy Spirit, that Jesus is the Son of God, that he died for the sins of the world, rose again on the third day and will return one day to judge the living and the dead. It involves a serious attempt to live the Christian life, to love your neighbour, and even your enemy, helping the poor and vulnerable, praying regularly, being consistently present at church worship and so on.  

Christian hymns have always had a fair amount of militant imagery, from ‘Onward Christian Soldiers’ to ‘Fight the Good Fight’, and more contemporary ones about God ‘fighting our battles’. Yet this has always meant a serious fight against enemies within – pride, greed, anger and spiritual lethargy. When it became focussed on human enemies, as it did in the Crusades, a line was crossed from ‘thick’ into ‘thin’ religion. 

It's not always easy to tell the difference between those who adopt thick and thin Christianity. I propose a simple test. If someone advocates Christian values and regularly turns up at church, then they have a legitimate voice, and are worth a hearing. If they turn up weekly to hear the Bible being read, to take part in Holy Communion alongside other people, regardless of their ethnicity, wealth or background, pray regularly, then, we can assume, they are serious about it. They are submitting themselves to the discipline of learning Christian faith, seeking to love their neighbour and trying as hard as they can to love their enemies. They may fail from time to time but these are the signs of someone who has grasped the grace of God which is the heart of Christian faith. Danny Kruger passes that test. Tommy Robinson and Nigel Farage, as far as I know, don’t.  

If some shout loudly about Christian values, about the danger of losing the heritage of our civilization and yet show no interest in going to church, living the Christian life, praying or even trying to love their enemies, then we should take what they say with a large pinch of salt. They have no skin in the game. 

When the heart of Christianity is hollowed out, it becomes moralism. It becomes the law not the gospel, as Martin Luther would say. The cross literally becomes a stick to beat others with. Paradoxically, it is only ‘thick’ religion that ends up founding and changing cultures. Early Christianity, the kind that converted the western world, was definitely ‘thick’ religion. It was not just a badge of identity. It had a whole set of distinct beliefs and practices that marked Christians off from the pagan world around them. It did not set out to advocate for political causes in the power corridors of Rome, build a Christian civilisation, lobby Caesar for ‘Christian laws’. It set out to produce people with ‘a sincere and pure devotion to Christ’ as St Paul put it, loving God, neighbour and enemy. And they changed the world by accident.  

Thin religion is a dangerous thing. It uses religion as a tool for dominance and conflict. It makes sceptics think we need less religion in public life. Thick religion is good religion. It forms good people. It builds healthy societies. It’s the kind we need more of, not less.  

Support Seen & Unseen

Since Spring 2023, our readers have enjoyed over 1,500 articles. All for free. 
This is made possible through the generosity of our amazing community of supporters.

If you enjoy Seen & Unseen, would you consider making a gift towards our work?
 
Do so by joining Behind The Seen. Alongside other benefits, you’ll receive an extra fortnightly email from me sharing my reading and reflections on the ideas that are shaping our times.

Graham Tomlin
Editor-in-Chief