Does Crypto-Religion Promise Salvation?
Anatomy of Spiritual Marketing [8]
At night, my smartphone makes a "ping" sound.
It is a notification informing me of Bitcoin's price movements. As I fluctuate between joy and sorrow over whether it has "gone up or down," I suddenly wonder: Why do we hold feelings that are almost akin to prayer for these coins filled with strings of numbers?
Bitcoin is a kind of 'religion', says a university researcher. There are even groups that actually call themselves the "Bitcoin Church" and refer to founder Satoshi Nakamoto as a prophet (*1). Instead of a chapel, they have online message boards, and instead of hymns, they read white papers. Sunday sermons are delivered via podcast, and offerings are etched in hash values. The object of faith is not God, but a new "promise" of the 21st century.
The world of blockchain is more colorful than one might imagine. In 2018, <0xΩ>, unveiled in New York, declared itself a "church operated by smart contracts" (*2). Both donations and voting are entirely on-chain. It is a mechanism akin to carving virtue into a ledger in the clouds. Here, instead of a Bible, a blueprint called a "frame paper" is distributed, and believers are granted the keys to their wallets.
Real-world religions are not staying silent, either. More churches in the U.S. are posting QR codes saying, "Please donate via crypto," and in a 2023 charity campaign, it is said that $500,000 in matching donations were collected. Beyond just changing the collection plate to a digital format, there is also the aim of regaining a connection with the younger generation by selling transparency, saying, "Donations can be tracked immediately on the blockchain."
Why do currency and faith intermingle? First, there is the 'narrative'. The plot of "free money, untethered from central authority" carries the scent of both immorality and liberation, much like "moonshine" during the Prohibition era. Next is the "community." When people have companions to endure intense price fluctuations with, they forget their loneliness. And finally, "salvation." When a young person in a country suffering from hyperinflation says, "With this, I can protect my family," the coin becomes a prayer thicker than paper currency.
As a more personal psychology, a "benefit bias" also comes into play.
It is a retrospective conviction that says, "Bitcoin tripled last year, therefore I believe." The memory of the rise remains strong, while the pain of the fall is diluted by time. In this way, the roller coaster of numbers becomes a roller coaster of faith.
However, the pitfalls are deep. When a crash comes, hymns turn into screams. Those holding losses tell themselves, "Next year, we're going to the moon," clouding their reality. Then, a scammer appears and whispers about the "next 100x coin"—it is a standard pilgrimage route.
That is why I believe that whether you believe or doubt, it is a matter of "dosage." You are free to see the future in the white glow of cryptocurrency. But if that light is too bright, and you can no longer see the face of the person sleeping next to you, it would be putting the cart before the horse. I want to keep some prayers not just inside my smartphone, but also in the conversations held across the table.
Next time, I plan to take a peek behind the scenes of "self-care fortune-telling apps," where high-tech and sorcery intersect.
In an era where AI "reads the stars" for your day, is that advice an ally, or a seed of dependency?
*1 Texas State Why are people calling Bitcoin a religion? https://news.txst.edu/the-conversation/2022/why-are-people-calling-bitcoin-a-religion.html
*2 WIRED Blockchain was always a religion. And now it’s got its own church
https://www.wired.com/story/blockchain-religion-church-bitcoin