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“God Bless Bitcoin” Document Supports Cryptocurrency Ethics
From Leah MarieAnn KlettEditorial Assistant Friday, July 12, 2024
The intersection of faith and bitcoin, and the government’s misuse of money, is at the heart of “God bless Bitcoin”, a documentary by Christian couple Brian and Kelly Estes that hopes viewers will reconsider their relationship with money and empower them to better steward their God-given resources.
The documentary, out July 25, seeks to answer the question “How can we fix our broken money?” by examining the moral and ethical dimensions of current financial systems and the broader implications of the rise of Bitcoin.
Narrated by Natalie Brunell, the project highlights voices from both the financial and religious spheres, including Bitcoin experts like Anthony Pompliano, Cathie D. Wood, and Michael Saylor, as well as religious leaders like Dr. Darrell Bock of Dallas Theological Seminary and Father Robert Sirico.
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“For 3,500 years, humans have used gold and silver as money. In 1971, we went fiat, and it’s clear that this system doesn’t work for everyone,” Brian Estes, CEO and CIO of Off the Chain Capital and a longtime Bitcoin enthusiast, told The Christian Post. “It steals from the poor and the middle class, and gives to the rich. It’s an unfair system, but we could get out of it.”
For the Esteses, parents of two who co-wrote and co-directed the film, the journey to creating the documentary began with a pressing concern about the state of the monetary system and a belief in Bitcoin’s potential as a more ethical alternative.
“Over the last decade, we’ve seen our money lose value, making it increasingly difficult for people to keep up with the rising cost of living,” Kelly Estes told CP.
Having worked closely with people experiencing generational poverty, she has seen firsthand the damaging effects of the current fiat money system.
“We knew something had to change,” he said.
“We wanted to explore the ethical and moral reasons behind the adoption of Bitcoin, highlighting how it can provide a more stable and fair financial system,” her husband added.
Technology as a means to better serve God
The documentary delves into how Bitcoin aligns with the ethical teachings of various faiths, including Christianity, Judaism, and Islam.
“Bitcoin is just another step in the technological development of how we can better serve God,” says one of the film’s participants.
According to the filmmakers, financial education and money are very important topics in the Bible, but they believe they are sadly under-covered in churches and schools.
“Bitcoin as a technology preserves our time and energy in a way that no one can take away from us,” Kelly Estes said. “It gives us self-sovereignty over our money so that we can use it to have great families, to procreate, to fill the earth with servants of God, which is what I believe we are meant to do.”
“It also allows us to care for the poor,” he added. “When we have enough to care for ourselves, then we are able to help others. It allows us to have that servant’s heart that we are called to have because it provides the means to do so.”
Bitcoin, he said, is also “borderless” and can offer security and autonomy in uncertain times. It’s a theme that “God Bless Bitcoin” highlights by demonstrating Bitcoin’s transformative potential for the unbanked and those living under oppressive regimes.
“Bitcoin provides financial inclusion to billions of people who lack access to traditional banks. It allows them to participate in the global economy, preserving their wealth and providing opportunities for a better life,” he stressed.
Challenging the status quo
The husband-and-wife duo are aware of the resistance to Bitcoin, particularly from established financial institutions and government agencies. The technology behind Bitcoin, which promises to make money transfers faster, cheaper and more accessible, also threatens to upend the traditional banking system, Brian Estes believes.
“The biggest opposition is coming from banks, as Bitcoin threatens their traditional revenue streams,” he said.
He drew a parallel with the revolution brought about by Voice over Internet Protocol (VOIP) technology, which made long-distance telephone charges obsolete.
“Likewise, Bitcoin allows us to move money almost for free, challenging the $2 trillion industry currently dominated by banks,” he said.
Opposition to Bitcoin isn’t limited to the banking sector alone. Political figures and lawmakers who receive significant contributions from financial institutions are also playing a crucial role in slowing Bitcoin adoption, says Brian Estes.
“Elizabeth Warren and other politicians receive contributions from banks like JP Morgan and Bank of America,” he said, adding: “These financial institutions use their influence to influence legislative opinions and slow the progress of technologies that threaten their profits. This is not just about politics; it’s about protecting financial interests.”
Critics of Bitcoin and other cryptocurrencies point out that they are not without risks.
Over the years, the price of Bitcoin, like other investments, has experienced high volatility. While the price of Bitcoin is currently trading at around $57,694 as of Friday morning, the price has dropped from a high of $64,000 in November 2021 to around $16,500 in December 2022. It has taken the price of Bitcoin more than a year to return to its November 2021 value. In recent months, the price of Bitcoin has dropped from around $69,000 in early June to its current value of over $57,000.
There are other risks associated with Bitcoin. Such as The New York Times reported in 2021, some users were unable to access their Bitcoin fortunes due to lost or forgotten keys. The paper cited cryptocurrency data firm Chainalysis to say that about 20% of Bitcoin in 2021 appeared to be lost or locked.
Additionally, cryptocurrency payments are not protected by legal safeguards. Storing cryptocurrency online is not protected by the same safeguards as online banking because it is not insured by the government like bank deposits, according to Connecticut Department of BankingThe agency stresses that cryptocurrencies should not be considered foolproof investments.
A global perspective
“God Bless Bitcoin” also argues that the current financial system is “intimately connected to the military-industrial complex and the propagation of war.” Brian Estes quoted Ezekiel 45:9, which reads, in part: “Abandon your violence and oppression and do what is right and just. Stop dispossessing my people, declares the Sovereign Lord.”
“What God is saying is, ‘Stop stealing your people’s money to go and wage unjust wars.’ And that’s what we’re doing today through inflation, through printing money. We’re stealing money from your bank account, and you don’t know it, and then we’re having these wars that are killing people all over the world,” he said. “If we’re on a Bitcoin standard, and you can’t print money, because you can’t print Bitcoin, then suddenly you can’t pay for war, and then there’s no more war.”
The filmmakers hope their film will inspire viewers to question the status quo and consider Bitcoin as a viable alternative. They want, they said, to give people the knowledge and tools to take control of their financial futures.
“We want people to open their minds … to see that there is another way,” said Kelly Estes. “We’re not suggesting that everyone go all in on Bitcoin, but rather that they consider diversifying their savings. Even a small amount of money in Bitcoin can offer hope for a more stable financial future.”
“We hope viewers understand that they have a choice. They can choose to leave an unjust system that perpetuates inequality and embrace a more just and equitable alternative,” Brian added.
“God Bless Bitcoin” to be released for free globally July 25. Executive producers include Perianne Boring and John Salley. Michael Siewierski, Ruben Figureres and Miguel Silvera are also attached as producers on the project.
Leah M. Klett is a reporter for The Christian Post. She can be reached at: leah.klett@christianpost.com