The Final Settlement

The Law Giver

In my previous article, I briefly went into the topic of how contract law is holy law.

The Father of the Christians, you see, is a God of Covenants, and He sent His Son to Earth to fulfill the Law and pay a Price for our salvation. The Father also created the Natural Order to confirm His Laws through our observation of that Law in action.

That is why Christians have a deep respect for honest contracts, true prices, fair measures, natural systems, and good laws. Not merely for their own sake, but also because understanding them helps us to understand and emulate the Law Giver.

The tired What would Jesus do? meme is actually an attempt to capture this emulation of the Highest Judge. Jesus knows the Law, since His Father defined it and He is One with the Father, so how would He apply the Law best, in this situation?

The Last Things

Working together with him, then, we entreat you not to accept the grace of God in vain. For he says,
“At the acceptable time I have listened to you, and helped you on the day of salvation.”

**Behold, now is the acceptable time; behold, now is the day of salvation.**

– 2 Corinthians 6:1-2 New Testament, RSV Bible

One of the things most devout Christians frequently ruminate over, is when Christ will return.

Every day, we ponder. We go for a walk, and ponder. We cook dinner, and ponder.

At the same time, we are called upon to live each day in a productive manner, and to not simply lie around, vegetating, and staring at the heavens. Not only for our own sake, but also because to do so would be to limit our ability to inform others about the Good News, so that they can take to pondering with us. We are called to ponder with as many people as we can produce, adopt, convert, or simply collect through our daily interactions.

This means that we are not of the world (as our eyes are watching God and baptism has made us Immortals), but we are definitely in the world (involved in, and effected by, the everyday dealings around us.) It is a very difficult balancing act to know when we are paying too much attention to the one or the other, or to know where to store up our treasures, if we can’t put them all immediately into the Final Treasury.

So, we worked today and earned a bit of fiat cash and we have no immediate usage for it. What to do with it?

Well, some of it should go to charity or be invested in a business that provides important goods, services, and employment. Some of it will be needed to simply cover the day-to-day costs of our own life, or that of those dependent upon us. But it might be prudent to store up some of it, for the mysterious length of time between receipt of the monies and our own ascent into Heaven.

Typically, that store was the local currency, but that’s being inflated away at an alarming rate. Then we all began to move to precious metals, and many of us still do, but they are so difficult to spend and can’t be broken into small bits or transported over wide distances at low cost.

Enter Bitcoin.

The Great Ledger

In our frustration, more and more Christians are turning to a new technology, to save up some treasure in a liquid asset, for the mid-term. And, once we begin using it, and begin to understand how it works, we quickly grow fond of it.

Bitcoin is a beautiful money because it is a money based upon keeping precise accounts, using a fair measure, and obeying the Laws of Nature.

In essence, Bitcoin is a debt note emitted by a universal debtor (the network) in exchange for some good or service. This frees the individual people using it from ever needing to carry debt, as the debt stays in the network, the value and enforceability of that debt note is protected by the effort used to create and maintain the network, and the eagerness with which other people wish to store their efforts up in that same network. The debt still exists, but it can be so thinly and widely spread that it no longer rests as a burden upon one particular person.

The debt, in other words, has been disassociated from humans and the management has been distributed to machines. This is the precise opposite process of a “fiat” (by decree) currency, which only has value so long as it is associated with some particularly solvent group of humans (who personally vouch for repayment of any debts denominated in the currency), and where management is centralized to some other group of humans.

Have you accepted Bitcoin as your personal money and store of value?

You have invested \(10 to buy the electricity to mine Bitcoin? Then you receive \)10 of Bitcoin in return. The Bitcoin network now owes you the $10 purchasing power equivalent of that electricity.

If someone then gives you \(5 worth of pizza, then you can then give them a \)5 portion of your $10 worth of Bitcoin. You have taken a part of your Bitcoin debt note and shared it with them.

They now hold $5 worth of Bitcoin invested in the network and can spend it on some other good or service. Or they can simply hold it and wait for it to rise in value, as more people “mine” more of it (and produce more notes, paradoxically making the existing notes more useful and therefore valuable) and more people try to gain the notes in order to manage their own finances by storing their energy in the network or transporting their energy using the network.

Bitcoin, in other words, is an accounting book that needs no accountant because it stores, tracks, and controls the ledger on its own. It is a Natural Ledger that runs according to the the Laws.

It is the only human-made ledger that allows for true and immediate Final Settlement. This Final Settlement is what allows people to trade using the convenience of digital debt notes, with neither person occurring or even risking any personal debt. We Christians know that all debt is a burden, including monetary debts, which is why we are called to forgive each other’s debt and to hope that our own debts are forgiven. Better still, is to avoid the accumulation of debts, altogether.

So, Final Settlement? Final Settlement is what Jesus would do.