Article
Culture
Digital
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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
Books
Culture
Film & TV
Purpose
8 min read

You may never take the Salt Path but here's why the tale makes sense

Kindness runs deep in the architecture of reality.

Roger is a Baptist minister, author and Senior Research Fellow at Spurgeon’s College in London. 

A hiking couple sit on the grass next to a pack.
Gillian Anderson and Jason Isaacs.
BBC Films.

The Salt Path is a phenomenon.  

An internationally best-selling book and now a movie starring Gillian Anderson and Jason Isaacs. How is it that a memoir of a middle-aged couple walking the South West Coast Path from Somerset to Dorset, via Land’s End, has had such an impact? 

Well, it’s because it resonates. It rings true. It’s about life as we know it, even if we haven’t hiked the 630 miles of the path from start to finish. A journey that is also, incidentally, the equivalent of climbing Mt Everest four times over. 

In the events leading up to their walk Raynor (Ray) and Moth Winn are dealt a series of body blows. They’re left bankrupt and homeless empty-nesters, struggling to come to terms with Moth’s deteriorating health.  

It was just as the bailiffs were seeking to gain access to their farm and take possession of it that Ray spotted an old book, 500 Hundred Mile Walkies, and took inspiration. 

‘We could just walk.’ 

And that’s what they did. 

So, what are the truths about life and our human experience that this story opens up for us? 

Life is precarious  

Bad stuff happens. Sometimes we bring it on ourselves, the consequence of wrong or ill-judged decisions. Other times it is thoroughly undeserved. Life turns around and bites us, hard. We’re left with our heads numb and spinning round with the persistent but unanswered question, ‘why me?’ 

For the Winns, an investment in the business of a trusted, life-long friend failed. The deal he structured left them responsible for the debts of his company. The end of a prolonged legal battle meant they lost everything, their farm, their home, their business, and the life-long friend. 

The same week also found them in a hospital in Liverpool getting the diagnosis for Moth’s chronic shoulder pain. It was not the suspected nerve damage, but rather the fatal neurological condition corticobasal degeneration. CBD. A diagnosis that was untreatable and only finally confirmed postmortem. 

Whether it’s the South West Coast Path or the familiar details of our own life, we can never fully anticipate tomorrow. We do not know what lies behind the next headland or what unwelcome surprises life may spring on us. No, we need to live in the moment. It’s pointless worrying about tomorrow and we ought to let it worry about itself. We can only live in today. As Ray reflected towards the end of their time on the path: 

“This second in the millions of seconds was the only one, the only one that we could live in.” 

Who am I, really? 

Early in the book Ray recalls: 

“I once heard a lecture by Stephen Hawking, when he said, ‘It’s the past that tells us who we are. Without it we lose our identity.’ Perhaps I was trying to lose my identity, so I could invent a new one.” 

Who are we when everything is stripped away? What defines us? Homeless and jobless, questions about where we’re from and what we do are not only awkward, they also create an existential void.  

Often mistaken for tramps, Ray and Moth noticed people treating them differently. Some quietly moved away, others were more forthright, “disgusting!” But the judgement of others does not define who we are. Yet, who actually were they in this new world of theirs?  

And then there’s the impact of failing health. Each stage of deterioration promising to erode what can be physically done and requiring a redefinition until there is nothing left at all.  

Yet identity is deeper than that. It is at the core of who we are, at the very heart of us. It is the sum of our experiences and choices, our successes and failures, of what we have gladly embraced and that which life has unexpectedly thrown at us. We are unique individuals with intrinsic value, worth and dignity. People who love and are loved. 

At the end of the path Ray muses: 

“Most people go through their whole lives without answering their own questions: What am I, who do I have within me? The big stuff. What a waste.” 

I guess that’s one of the attractions of making space to walk. To lose the distractions and busyness of our over-complicated lives for self-discovery to break in. 

One step at a time 

How do you get your head around walking 630 miles? How can you appreciate the demands of climbing unknown hills and cliffs and navigating their gullies and ravines.  

On top of the terrain there’s the notorious English weather to negotiate. With little money and only a tent for respite: when it rains you get wet and stay wet, when it’s cold, you shiver and put on as many layers as you can. Even in August it can be challenging. 

Walk, eat, sleep, repeat. 

Sometimes the only thing to do is put one foot in front of the other.  

“Each step had its own resonance, its moment of power or failure. That step, and the next and the next and the next, was the reason and the future. … each day survived a reason to live through the next.” 

There is always agency. There is always the opportunity to choose today which path to travel and which attitude to serve. To give in or go on, to be a defeatist or hopeful, complaining or generous, those choices are always there, even when they’re limited. Even in the wake of unfair decisions and unexpected tragedy, we choose today the way we take. And sometimes that’s all we can muster. 

The kindness of strangers 

Ray and Moth’s story is littered with moments of kindness and warmth. From the lovelorn waitress who sneaks them the day’s leftover pasties to the generosity of a hippie commune there is a recurring theme that echoes an underlying goodness in the nature of people. And often it is those with the least who prove to be the most open-handed and thoughtful. 

On more than one occasion the Winn’s themselves share from their own meagre supply of food, especially their precious fudge bars, with those in a more uncertain state than their own. On another occasion they step into a tense and potentially violent situation with a young woman, Sealy, the subject of an abusive relationship. They offer her company and a way out, ultimately paying for her £5 bus journey to get away to family. 

There is something heartwarming about kindness, something elevating. Both the giver and the receiver feel encouraged, lighter, happier. The abiding truth continues to stand the test of time that it is ‘better to give than to receive’.  

Strangely, watching these scenes play out in my local Showcase Cinema was an uplifting and inspiring experience. You can never predict or properly anticipate when a tear will unexpectedly present itself to the corner of your eye. I suspect that kindness runs more deeply in the nature of things than we comprehend. It is part of the deep architecture of reality.

Love and relationship in tough times 

When it comes down to it, The Salt Path is about Ray’s relationship with Moth. How they face an unimaginably difficult set of circumstances and find a way through together. This is a profoundly hopeful story. And from it we can draw hope too. 

There was nothing religious about what they were doing, “It’s not a pilgrimage. Is it?”  

At one level it is purely a response to desperation. But in the midst of it all they have each other. Thirty-two years together, having begun their relationship when Ray was 18, they are still deeply in love. They epitomise the values enshrined in the marriage vows. 

“… to have and to hold from this day forward, for better for worse, for richer for poorer, in sickness and in health, to love and to cherish, till death us do part …” 

This is not slushy sentimentality but rather love that proves itself in the face of the onslaught of ‘worse … poorer … sickness … death’. 

The conclusion of their journey led Ray to a realisation: “I was home, there was nothing left to search for, he was my home.” As the ancient poet wrote: 

“Set me as a seal upon your heart,  

as a seal upon your arm; 

for love is strong as death, 

passion fierce as the grave. 

Its flashes are flashes of fire, 

a raging flame. 

 

Many waters cannot quench love, 

neither can floods drown it. 

If one offered for love 

all the wealth of one's house, 

it would be utterly scorned.” 

(Song of Solomon) 

That’s it then. The book and the movie work because they reflect back to us the life we know, the lives we live. Yes, they’re in high relief in the choices that Ray and Moth take, but that clarifies things for us. Most of us won’t ever find ourselves in the position they were in, but we can empathise. Most of us would never think to do what they did even if we were. But for all that, we see, we understand and it makes sense. 

If you get a chance to see the film, then do. Gillian Anderson and Jeremy Isaacs are exceptionally good in their understated performances. The visual experience of the South West coast is everything you would expect it to be, sounding as majestic and immersive as if you were there. A real treat. 

For me, the most poignant and telling moment of the story happens at Lyme Regis. Moth says: 

“When it does come, the end, I want you to have me cremated. …keep me in a box somewhere, then when you die the kids can put you in, give us a shake and send us on our way … They can let us go on the coast, in the wind, and we’ll find the horizon together.” 

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Since Spring 2023, our readers across the world have enjoyed over 1,000 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
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