Cryptocurrency and Money

Cryptocurrencies don’t actually have a physical representation, and are backed by nothing but networks of computers running common software, but oddly, they can be traded like other forms of money. That is because people think they have value.

I have loosely followed the development of cryptocurrencies from the beginning, like way back when they were being discussed as a possibility on the cypherpunks mailing list. The cryptography, the block chains, and the whole concept of a truly decentralized system that allows people to trade and store value in an auditable and secure fashion is very interesting. And it actually works better than some national currencies. But is it worth using or investing in? Maybe, with due caution, but not with anything you can’t afford to lose. I don’t recommend engaging in cryptocurrency mining, right now, though, because the cost of the electricity used to do it exceeds the probable value of what you might gain. But if you do, and get lucky, or sell something for cryptocurrency, or someone gives some to you, then you have some choices, just like with other forms of money. You can do any or all of saving, trading for goods, services, or other forms of money, or giving some away. Just like money. Except much more volatile. Its value can change up or down very rapidly. And like other forms of money, it can also be stolen or lost. Then there is the question of which cryptocurrency to use. A few are more reputable and probably more likely to be accepted. Some are not popular enough to be useful for trade. Some are outright scams. Tread carefully at your own risk.

A couple of partners encouraged me to at least put out a “tip jar” to receive cryptocurrency donations, so I did. Honestly, it wasn’t used much. What little I did get, I converted to U. S. Dollars and spent to help cover ministry expenses. But now, there is a better option. If you want to donate some cryptocurrency to our ministry, please go to and enter “Michael & Lori Johnson” as the World Outreach Ministries missionaries to receive the donation. But only give that way if you want to, and if you already have cryptocurrency to give, or if none of the other ways of giving to us work for you and God has put it on your heart to give to our ministry. And of course, World Outreach Ministries still accept cash, checks, and credit cards.