Bitcoin Offering in Churches

[Makus]

May the Lord of Christians forgive me if this is a sin, the pastor is probably accepting Bitcoin because he understands that it can't be traceable by anyone, since it's church offering.

A pastor taking Bitcoin as offering is quite questionable, why would he even consider to do this aside from the fact that those money being paid are laundered or cannot be traced, don't let religion make you assume that the questions you ask about this are not valid or they are a sin, we are supposed to think logically when it comes to situations like this because it's actually not right.

There's definitely more going on here that a lot of people are yet to know about or perhaps he has his reasons for taking these funds in Bitcoin.

[lombok]

May the Lord of Christians forgive me if this is a sin, the pastor is probably accepting Bitcoin because he understands that it can't be traceable by anyone, since it's church offering.

A pastor taking Bitcoin as offering is quite questionable, why would he even consider to do this aside from the fact that those money being paid are laundered or cannot be traced, don't let religion make you assume that the questions you ask about this are not valid or they are a sin, we are supposed to think logically when it comes to situations like this because it's actually not right.

There's definitely more going on here that a lot of people are yet to know about or perhaps he has his reasons for taking these funds in Bitcoin.

Such concerns about the willingness of religionists to accept crypto assets can be easily explained since many perceive the decentralized nature of the technology as a tool used for making money laundering possible through the absence of control from the legal institutions. Blockchain accounting technology does not provide any opportunity to remain unnoticed, since each transaction gets registered in a decentralized manner and becomes accessible to anybody in the world. Houses of worship are usually trying to use the advantage of sending money across borders without having to pay extra expenses associated with shipping money from foreign countries wishing to make a contribution to help. Using crypto technology allows easy check of money balance transparency without having to use any bank intermediation services associated with high commission charges.

[davis196]

- How would you handle volatility?
If someone gives $100 in BTC on Sunday and it's $85 on Monday,
who takes the loss?

- Should the church convert instantly to fiat or keep it as church treasury? Our pastor asked me this and I didn't have a good answer.

Nobody "takes the loss". The church is not a profit-driven organization. Religious donations cannot be considered "revenue" or "income".
It's up to the person, who collects the BTC donations to decide when to convert the Bitcoins into fiat. He can decide to convert them as fast as possible in order to neutralize price volatility, or he can decide to just HODL. Congrats to the open-minded pastor in your church for accepting BTC/crypto donations. I have never seen any church in my country to accept crypto donations. The church in my country is heavily subsidized by the government, so the priests don't care that much about collecting donations.

[Call_Me_Guru]

What do you think?

You asked so many questions that are repetitive and you are not sincere with the true reflection of the fact. Bitcoin will charge more than an average means of making transfer nowadays. Gone are the days you would be crying that banks transfer charges will suck your money, many fintechs have taken that place and they do spend money homes as if you are sending money within your country.

Bitcoin is a good choice if the pastor knows how to handle it, but they shouldn't pretend it's for the high fees. People abroad send money home daily, the mother could bring it in cash to the church if she wanted. If they prefer to pay in Bitcoin, God doesn't need it physically seen before the offering is accepted.

[5W-KILO]

It's actually not a bad plan, it means that people around the world can choose to pay tithes without having to come down to the church, once they have the Bitcoin address they can keep paying their offerings this way.

The only problem here is the person in charge of the Bitcoin wallet private key, if it's in one man's control they can one day decide to steal everything and move away from the city or even the country if the amount is good enough.

The elders in the church must all come together and open a Bitcoin address where the keys can be shared among three elders in the church, meaning one person can't move funds without the others approving it.

[Italian Panic]

My Church Started Accepting Bitcoin Offering

I don’t know where you’re from or how things work where you are, but in my case, the various churches scattered across the country have to find a way to survive on their own without any help from the Vatican, which sends no aid to keep the local church afloat; on the contrary, it never misses an opportunity to remind them that they have to fend for themselves. Thanks for the idea.
Donations in Bitcoin would be a godsend for these communities, especially the smaller ones, should Bitcoin’s value rise significantly. In fact, Bitcoin represents exactly what the Church wants from the faithful: untraceable donations, and that is precisely what Bitcoin is. A donation is tax free and is an excellent way to raise funds; you cannot give 5k dollars to a friend, but you can certainly donate it to the Church.