Bitcoin Offering in Churches

[Charles-Tim]

- Has anyone seen a church,mosque,temple accepting Bitcoin as offering or tithe regularly?

 Does it work long term?
- 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.

What do you think?

I saw this post late, but your question can be answered by individual.

I have not seen any churches or mosques that is accepting bitcoin, but I believe if discussed with pastor, the pastor will know what he will do and accept it.

It does not need to work long term. As long as people are sending coins there, even if it is small, it is better than not having it as one of the means of receiving money.

The church will take the loss. You should be able to answer this yourself.

I think it is better for the church to convert it instantly, but it depends on what they talk about it.

[Nanga Parbat]

Even dirty money could be sent through the traditional banking channels you know. The thing is, no one would actually know if it’s dirty money or not, but the in my opinion I think it’s most unlikely that anyone would wanna send in such Bitcoin to a church wallet, but even if they do, the leave they can do is investigate it, and they’ll still not be able to find anything, except of course there was actually something hidden in the cupboard.

Enough money through traditional ways is coming in churches and other religious places, but no one is talking about this because they are well aware of everything, but as it happens, through Bitcoin or crypto, noise has always started increasing, which has never been an ideal situation because they are feeling it's not a good deal and then need to check about other channels and also work for transparency.

Having Bitcoin as donations is good, but they need to have enough knowledge about this as well because if they fail to stay on alert and have enough understanding of wallet security, it gives them serious trouble, or they can lose money as well.

Now it's time to change mindset. Instead of talking about dirty money or other things, it's time to give them better suggestions about the safety of their funds and having updates all the time.

[Faisal2202]

Well if this is so wide spread, maybe you could provide some website of the parish where they claim that they receive BTC tithe.

I believe that OP didn't send any link to prove his claim on the the thread so far...

I also don't believe what he said, but we also don't need to confirm it 100%. Although OP's account is new, that's why we have to question it. If a reputed member had shared it, we would not have asked for a link or source either.

So OP should really back this up somehow. Anyway, I have never seen adoption at this level where I live. Vendors have not yet started to take payments in BTC. Hell, even online sellers are not accepting BTC, let alone local business owners. So we are too behind yet.

[Odogwu-Blockchain]

- 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.
What do you think?

Treasury of course, the church had been surviving and doing projects with other activities without Bitcoin before now, so having Bitcoin stored for longer period of time would be a good project the pastor and ministers has to talk about for the benefit of the church in future.

Since you only know how to control Bitcoin wallet in the Church, what is your position, do you have any? If you don't, then the pastor will give you the position of account in Bitcoin as well as you are a trusted person.

[Renampun]

It's pretty hard to believe what you're saying.. It's like a made-up story.. From what I know, churches need cash to support their services, even if they get money from abroad, it's usually transferred through banks so it goes straight into the Church's account.. I've never heard of using Bitcoin as a transfer method, not even in modern churches, let alone smaller churches in developing countries, it just seems unlikely..

Besides, I've heard so many made-up stories that by now I can usually tell which ones are fake and which aren't.. Unless you can provide documentation that proves what you're saying, only then would I believe it.

[Woodie]

The fact that it's well known that Churches back in the day were used to launder money.. I see a situation of this happening continuing, and worst thing that's about to happen is Churches receiving dirty coins as they are still amateurs and being sent to centralized exchanges and where ever they can get fiat for it... this is a disaster in the making! But on the positive side, what the Church is doing is simply putting Bitcoin on the map and possibly onboarding more to the crypto world.. hope people won't be targets of kidnapps and all that after been  spotted for that generous donation..

[Big Dirams]

- Has anyone seen a church,mosque,temple accepting Bitcoin as offering or tithe regularly?

 Does it work long term?
- 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.

What do you think?

I saw this post late, but your question can be answered by individual.

I have not seen any churches or mosques that is accepting bitcoin, but I believe if discussed with pastor, the pastor will know what he will do and accept it.

It does not need to work long term. As long as people are sending coins there, even if it is small, it is better than not having it as one of the means of receiving money.

The church will take the loss. You should be able to answer this yourself.

I think it is better for the church to convert it instantly, but it depends on what they talk about it.

I agree with your opinion, it would be a better idea for the church to convert it instantly after receiving offerings as bitcoin in their wallets especially when the church is lacking some equipments and other important stuffs because when they are thinking of holding for some time then they might end up missing out because we all know how volatile bitcoin is and instead of them taking what they received as offerings they might end up seeing less or probably none at all depending on our the market goes down and their amount inside the wallets but they could be lucky and make more profits from it but for a church I would advice them not to risk it and convert instantly always to stable coins.

[jossiel]

- 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.

Although we have no idea for every management of the church and how transparent they are. I am for the conversion instantly.

This can create conflict of interest for the founding members of the church and other staff. Instead of spreading the gospel and more focused with it.

The head or those with position will think of how much the growth has been. And that's why this can divert the interest from the actual purpose they have.

[Italian Panic]

- 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.

Although we have no idea for every management of the church and how transparent they are. I am for the conversion instantly.

This can create conflict of interest for the founding members of the church and other staff. Instead of spreading the gospel and more focused with it.

The head or those with position will think of how much the growth has been. And that's why this can divert the interest from the actual purpose they have.

That really is a good question. Let’s say that churches, especially local ones or those in small communities, are used to making do with what they have without getting too caught up in complicated matters.
Should they receive any donations or contributions in Bitcoin, they might choose to hold onto it for a long time in order to increase its value, and only use it in the event of an absolute emergency.

[ovcijisir]

Well if this is so wide spread, maybe you could provide some website of the parish where they claim that they receive BTC tithe.

I believe that OP didn't send any link to prove his claim on the the thread so far...

I also don't believe what he said, but we also don't need to confirm it 100%. Although OP's account is new, that's why we have to question it. If a reputed member had shared it, we would not have asked for a link or source either.

So OP should really back this up somehow. Anyway, I have never seen adoption at this level where I live. Vendors have not yet started to take payments in BTC. Hell, even online sellers are not accepting BTC, let alone local business owners. So we are too behind yet.

Like I said before I find this claim plausible, as it is realistically possible that some parishes accept BTC donations. Also some other users confirmed this claim, but nothing was backed up with harder evidence.

I am still cautious to confirm this claim as truth, hopefully we will get some website, or at least photo.

[Captain Corporate]

I guess that is a good way to receive offerings as anyone from the world can send these offerings. Some of those will be used maybe for the infrastructure or any other development but a majority might not actually be used where it was meant to be. The one sending these offerings from abroad will barely come and check if there is any development. The offerings would keep coming so at some point, that small greediness will starting taking over.

I think the best approach will be for the pastor to convert instantly to fiat because holding bitcoins might not be of that use to them. There will still be some conversion fees even in P2P so if someone send $10, pastor might actually get $9.

[jossiel]

- 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.

Although we have no idea for every management of the church and how transparent they are. I am for the conversion instantly.

This can create conflict of interest for the founding members of the church and other staff. Instead of spreading the gospel and more focused with it.

The head or those with position will think of how much the growth has been. And that's why this can divert the interest from the actual purpose they have.

That really is a good question. Let’s say that churches, especially local ones or those in small communities, are used to making do with what they have without getting too caught up in complicated matters.
Should they receive any donations or contributions in Bitcoin, they might choose to hold onto it for a long time in order to increase its value, and only use it in the event of an absolute emergency.

That's also likely and they're free to do that if they still have some money left for their services.

But, if there are people who are also part of that management and are too interested of how it will go if the value goes up, that changes their thought of what these donations are for.

I think it's best to just convert it and let it be there as liquid money so they can get it anytime they wish and needed to avoid conflict within the organization of the church.

[Kelvinid]

- 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.

Although we have no idea for every management of the church and how transparent they are. I am for the conversion instantly.

This can create conflict of interest for the founding members of the church and other staff. Instead of spreading the gospel and more focused with it.

The head or those with position will think of how much the growth has been. And that's why this can divert the interest from the actual purpose they have.

You have a good point there. We all know how bitcoin turns out to be a profitable long term investment, but I don't think the church itself accepts bitcoin for safekeeping and investment. All they need is a financial assistance from time to time to keep their projects and activities going. So I will go for conversion, not because its the best option, but because its what the church actually needs, they need more cash than bitcoin.

[GeorgeJohn]

My Church Started Accepting Bitcoin Offering
3 Old Women Asked Me What a Wallet Is

The question of the old woman is valid from my perspective..because most of the interior rural environments, people who are living there doesn't know what is Bitcoin...secondly Bitcoin is a new digital currency and people who are aged may not know exactly what Bitcoin is...

Something interesting happened last month. My local church added a Bitcoin QR code next to the offering basket.

The management of the church may know of bitcoin whereas members may not know of bitcoin...it's ideal to drop bitcoin QR code to people who is aware of bitcoin...for me what the church did is not bad, it's avenue to make bitcoin awareness to reach to the grassroots...

Pastor said Some of our youth abroad want to give, but bank charges are high.

This an indication to show that the pastor made a provision of BTC QR code for people who is already knows about it..and it intension wasn't for local people...

[Sonia_123]

My Church Started Accepting Bitcoin Offering
3 Old Women Asked Me What a Wallet Is

Something interesting happened last month. My local church added a Bitcoin QR code next to the offering basket.

Pastor said Some of our youth abroad want to give, but bank charges are high.

First Sunday it was $0
Second Sunday Someone sent $5 worth
Third Sunday An old mama came to me after service, My son in Canada said he sent offering through that picture. Did God receive it?

We laughed, but it got me thinking

- The youth abroad actually prefer it. They send $10-$20 instantly, no Western Union $12 fee.

- The elders don't trust it. How will we count it on Sunday if it's in the phone?

- The treasurer now has to learn what a confirmation is.

It's been 1 month, total ∼$68 in BTC. Not much, but more than we expected.

- Has anyone seen a church,mosque,temple accepting Bitcoin as offering or tithe regularly?

 Does it work long term?
- 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.

What do you think?

It all depends on the Pastor if he understands what Bitcoin is, but if he does not and after explaining it to him, he refuses to hold onto it, I will help him out in cashing it out so that the value will stop depreciating since Bitcoin has to do with volatility, you never know what will happen next.

It is so surprising that churches has started collecting Bitcoin, anyway it is part of the circulation of Bitcoin, in as much as we are religious we know some day it will get to our various place of worship, it is a welcome development.

[Wiwo]

.

We have one shitcoins that was developed and promoted by a popular African Bishop he called it.

Zugacoin, this wasn't ever used for Sunday offering and the coin was stock in the inbuilt wallet and members are only allowed to buy but couldn't withdraw at that time.

He was later called out to be a scam coin which it is.

[jossiel]

Although we have no idea for every management of the church and how transparent they are. I am for the conversion instantly.

This can create conflict of interest for the founding members of the church and other staff. Instead of spreading the gospel and more focused with it.

The head or those with position will think of how much the growth has been. And that's why this can divert the interest from the actual purpose they have.

You have a good point there. We all know how bitcoin turns out to be a profitable long term investment, but I don't think the church itself accepts bitcoin for safekeeping and investment. All they need is a financial assistance from time to time to keep their projects and activities going. So I will go for conversion, not because its the best option, but because its what the church actually needs, they need more cash than bitcoin.

While it makes sense to only withdraw or sell whenever they need it. But what if at the time they'll need it, the market isn't doing good just like now.

The value has decreased already and that's why for me, it's best for them to simply sell it right away after receiving it if some generous donor gave it to them.

And that's true, they need more cash to buy all of those needs to cater their services and charity works.

[Bitcoin.com97]

I haven't seen a church receiving offering  and tith through btc , but I'm not surprised anyways the world is getting modernized, because many who stays abroad complain of means of sending money to some churches, so pastors are bringing method to still get the money  .

And as for your question if they don't have anything to do with it immediately, they should leave it in the wallet ,till Bitcoin rises again ,so it will be profitable for them ,and if they can't wait ,they can still exchange it and lose ,at least there is an ease means of them getting money from members abroad .

[AakZaki]

Whether this is a true story or not, it sounds difficult to accept by common sense. Because why does Bitcoin want to be introduced as a tool of offering in the Church, does the Church or its staff want to invest? Lol

For this kind of public interest fiat money should be better, as it will not be volatile. If the OP says or understands about QR codes, is there no QR code for fiat? which should be the easiest way, because his congregation does not need to buy Bitcoin first to make such an offering.
As the treasurer who holds the money for the construction of the mosque in my place, I never thought of accepting Bitcoin for this purpose, because in my place fiat QR codes are much easier to do for everyone who wants to donate for that purpose.

[Eldestyoung]

Honestly, I don’t know if this is something churches should be celebrating. Sometimes I wonder whether we’re slowly turning places of worship into financial institutions. Offering, tithes, special seeds, building funds and now Bitcoin?

Technology may make giving easier but it doesn’t necessarily make the intention behind it better. My concern is that greed is gradually taking over the very institutions that should be teaching contentment, compassion and selflessness.
Before churches start adopting every new way of collecting money, perhaps they should ask themselves whether they’re becoming more focused on faith or fundraising.

Just my honest opinion.